Trucking Industry in India to Hit US$ 33,018 Million by 2027, at a CAGR of 10.5%

According to the latest report by IMARC Group "India Truck Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The India truck market size reached US$ 16,832 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 33,018 Million by 2027, exhibiting a growth rate (CAGR) of 10.5% during 2022-2027.

Trucks are motor vehicles build to transport cargo or perform specific utilitarian tasks. They can be segmented into heavy, medium, and light-duty trucks, depending on vehicle weight. Commercial trucks can be massive and powerful and are usually designed to carry specialized equipment, such as fire trucks, refuse trucks, concrete mixers, etc. Trucks have several advantages over railways in the transportation of goods due to their greater reach in rural and hilly regions and reduced time requirements for loading and unloading products.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

India Truck Market Trends and Drivers:

Rising levels of industrialization and urbanization are primarily driving the market for trucks in India. Moreover, growing advancements in commercial infrastructures and increasing construction of roads, highways, dams, etc., connecting remote places are also contributing to the demand for trucks. Additionally, increasing numbers of regulations mandated by the Indian government ensuring high standardization of commercial vehicles are further stimulating the market growth. Furthermore, the expanding logistics industry and integration of advanced driver assistance systems like GPS tracking with trucks are expected to further drive the demand for trucks in India over the forecasted period.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India truck market report, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on vehicle type, tonnage capacity, fuel type and application.

Breakup by Region:

North India
East India
West and Central India
South India

Breakup by Vehicle Type:

Heavy Duty Truck
Medium-Duty Truck
Light Duty Truck

Breakup by Tonnage Capacity:

3.5 - 7.5 Tons
7.5 - 16 Tons
16 - 30 Tons
Above 30 Tons

Breakup by Fuel Type:

Diesel
Petrol
CNG & LNG

Breakup by Application:

Construction
Logistics
Others

Competitive Landscape with Key Player:

The competitive landscape of the market has also been analyzed, with some of the top leading Indian Truck Companies.

Tata Motors Limited
Ashok Leyland Limited
VE Commercial Vehicles Limited
Mahindra & Mahindra Limited
SML Isuzu Limited
Daimler India Commercial Vehicles Pvt. Ltd
AMW Motors Ltd.
MAN Truck & Bus
Hino Motors Sales India Private Limited
Scania Commercial Vehicle India Pvt Ltd.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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