India Truck Market Report 2023, Share, Size, Forecast and Analysis of Key players 2028

IMARC Group's report titled "India Truck Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The India truck market size reached US$ 20,042 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 36,353 Million by 2028, exhibiting a growth rate (CAGR) of 9% during 2023-2028.

Trucks offer various advantages over railways. In contrast to rail transport, these vehicles can accept products in smaller quantities, they require less time than rail for the unloading and loading of the commodities, and can also reach rural and hilly regions. Trucks can be classified according to their fuel type, including petrol, diesel, CNG, and LNG. The utilization of these vehicles can be categorized across various sectors, such as real estate, infrastructure, mining, etc. In addition, the strong economic growth of the country has also been a major factor in the development of the truck industry. As a result, these vehicles find widespread applications in construction and logistics operations.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/indian-truck-market/requestsample

India Truck Market Trends and Drivers:

The inflating income levels of the consumers, the emerging trend of urbanization, the expanding rural economy and e-commerce industries, and the launch of several policies by the government bodies to simplify business opportunities in the country are among the primary factors driving the India truck market. Besides this, the increasing investments by the leading players to develop lightweight variants of these automobiles to reduce vehicular radiation while enhancing the overall efficiency are further augmenting the market growth. Moreover, the growing popularity of zero-emissions trucks (ZETs), including battery electric trucks (BETs) and fuel cell electric trucks (FCETs) that have lower operating costs, is also catalyzing the market across India. Apart from this, the escalating demand for logistics and freight, various product innovations, and the rising improvements in the automotive industry are acting as significant growth-inducing factors. Furthermore, the elevating number of vehicles to transport goods via roads is expected to bolster the India truck market in the coming years.

Report Segmentation:

The report has segmented the market into the following categories:

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

Breakup by Region:

North India
East India
West and Central India
South India

Competitive Landscape with Key Player:

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.

Explore full report with table of contents: https://www.imarcgroup.com/indian-truck-market

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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