Automotive Market in India | Size to Reach 6.38 Mn Units by 2030, Key Players Tata Motors, Maruti Suzuki Leading Growth

The automotive market in India has shown steady growth, with 3.99 million units accounted for in 2024. This growth is expected to continue, with the market projected to reach 6.38 million units by 2030, reflecting a compound annual growth rate (CAGR) of 6.94%. Several factors contribute to this growth, including increasing disposable income, improved infrastructure, and a growing population. Additionally, the government's focus on promoting electric vehicles and enhancing manufacturing capabilities through initiatives like "Make in India" is expected to further drive the automotive market's expansion in India.


Automotive Market in India Report Scope and Research Methodology:

The Automotive Market in India report provides a comprehensive analysis of the market size, trends, and growth prospects. It covers various segments, including passenger vehicles, commercial vehicles, and two-wheelers, offering insights into key drivers and challenges. The report also examines the competitive landscape, highlighting key players and their strategies. The research methodology involves primary and secondary research, including interviews with industry experts, to gather and validate data. Additionally, the report uses statistical tools and analysis to provide a detailed understanding of the market dynamics and future outlook.


Explore the intricacies of this comprehensive market analysis: https://www.maximizemarketresearch.com/market-report/automotive-market-in-india/86126/

What are Automotive Market in India Dynamics:

The automotive market dynamics in India are influenced by several key factors. One significant driver is the increasing young population and rising income of middle-class families, leading to a growing market share for India in the automotive industry. The country's rapid urbanization in recent years, especially in the automobile sector, has also contributed to market growth. According to the Society of Indian Automobile Manufacturers (SIAM), the total production volume of commercial vehicles, passenger cars, three-wheelers, and two-wheelers combined reached 1,693,639 units in June 2021.

Moreover, the government's initiatives to promote the fast production and adoption of hybrid electric vehicles, with a focus on reducing the use of fossil fuels, have further fueled market growth. The demand for the automotive market is also bolstered by increasing exports of Indian-manufactured vehicles to other countries. From April 2021 to June 2021, Indian automotive exports accounted for 1,419,430 units, highlighting the country's position as a significant player in the global automotive market.

Request a complimentary sample copy or access the summary of the report: https://www.maximizemarketresearch.com/request-sample/86126

Automotive Market in India Regional Insights:

Regional insights into the automotive market in India reveal varying trends and opportunities across different parts of the country. The southern region, including states like Tamil Nadu, Karnataka, and Telangana, is a significant automotive hub, home to several major automobile manufacturers and suppliers. Tamil Nadu, in particular, has a strong presence of automotive manufacturing units, earning it the nickname "Detroit of South Asia." The western region, including Maharashtra and Gujarat, is also a key player in the automotive sector, with Maharashtra housing major automotive clusters like Pune and Mumbai. Gujarat, on the other hand, has emerged as a prominent location for automobile manufacturing, attracting investments from various automotive companies. The northern region, including states like Haryana, Punjab, and Uttar Pradesh, has a growing automotive industry, with Haryana being a major automotive manufacturing hub. Overall, each region in India contributes uniquely to the automotive market, with a combination of manufacturing capabilities, infrastructure, and market demand shaping the industry's landscape.

Submit your request for a free inquiry report today: https://www.maximizemarketresearch.com/inquiry-before-buying/86126

What is Automotive Market in India Segmentation:

The automotive market in India is segmented based on vehicle types, primarily categorized into two-wheelers, passenger vehicles, and commercial vehicles. Two-wheelers are the dominant segment in the Indian automobile industry due to their heavy use, affordability, and demand in the region. They are considered very reliable and cost-effective for both long and short distance travels, making them highly sought-after. In India's road conditions and connectivity, two-wheelers are the most practical option, whether they are electric vehicles (EVs) or petrol vehicles. Key companies in this segment, such as HERO MotoCorp, Bajaj Auto, HONDA Motors, and TVS Company, are focusing on technological advancements to enhance the efficiency of these vehicles.

The sales of passenger cars are increasing due to urbanization, changing lifestyles, and rising middle-class incomes. Technological developments in India have played a crucial role in the growth of the automobile sector by increasing income levels and creating more job opportunities. The rise in income has directly impacted the change in lifestyle, leading to increased use of passenger cars and driving market growth. The demand for commercial vehicles has also increased in recent years due to the growing economy and industrial sector, which require transportation of goods to long-distance places. This segment significantly contributes to India's rising economy and drives the automobile industry forward.

In terms of fuel type, the automotive market in India is dominated by petrol vehicles. Petrol-powered vehicles are popular due to their affordability, fuel efficiency, reliability, overall performance, and availability across the country. HERO MotoCorp, Bajaj, and Honda Motorcycle are among the top companies manufacturing and selling two-wheelers in this segment. Petrol-powered passenger cars are also popular as they are affordable for the middle class and offer good performance and mileage.

Diesel-powered vehicles have a significant market share in India, especially in commercial vehicles such as buses and trucks. These vehicles are known for their heavy-duty performance, long-range capability, and fuel efficiency. Companies like Ashok Leyland, Tata Motors, and Mahindra & Mahindra are key players in manufacturing commercial diesel-powered vehicles. Diesel-powered cars are also popular, offering better efficiency and reliability than petrol-powered cars, especially for long-distance travel.

Request a customized report tailored to your specific requirements: https://www.maximizemarketresearch.com/request-sample/86126

Who are Automotive Market in India Key Players:

1. Tata Motors Ltd
2. Maruti Suzuki India Ltd
3. Mahindra & Mahindra Ltd
4. Hero MotoCorp Ltd
5. Bajaj Auto Ltd
6. Ashok Leyland Ltd
7. TVS Motor Company Ltd
8. Eicher Motors Ltd
9. Force Motors Ltd
10. SML ISUZU Ltd.
11. Honda Motor Co., Ltd.
12. Hyundai Motor India
13. Daimler AG
14. Piaggio & C.S.p.a.
15. Toyota Motor Corporation
16. Volkswagen AG
17. AB Volvo
Table of content for the Automotive Market in India includes:

1. Global Automotive Market in India: Research Methodology

2. Global Automotive Market in India: Executive Summary

● Market Overview and Definitions
● Introduction to the Global Market
● Summary
● Key Findings
● Recommendations for Investors
● Recommendations for Market Leaders
● Recommendations for New Market Entry

3.Global Automotive Market in India: Competitive Analysis

● MMR Competition Matrix
● Market Structure by region
● Competitive Benchmarking of Key Players
● Consolidation in the Market
● M&A by region
● Key Developments by Companies
● Market Drivers
● Market Restraints
● Market Opportunities
● Market Challenges
● Market Dynamics
● PORTERS Five Forces Analysis
● PESTLE
● Regulatory Landscape by region
● North America
● Europe
● Asia Pacific
● Middle East and Africa
● South America
● COVID-19 Impact

4 . Company Profile: Key players

● Company Overview
● Financial Overview
● Global Presence
● Capacity Portfolio
● Business Strategy
● Recent Developments

Key Offerings:

● Past Market Size and Competitive Landscape (2024 to 2030)
● Past Pricing and price curve by region (2024 to 2030)
● Market Size, Share, Size and Forecast by different segment | 2024-2030
● Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
● Market Segmentation - A detailed analysis by growth and trend
● Competitive Landscape - Profiles of selected key players by region from a strategic perspective
● Competitive landscape - Market Leaders, Market Followers, Regional player
● Competitive benchmarking of key players by region
● PESTLE Analysis
● PORTER's analysis
● Value chain and supply chain analysis
● Legal Aspects of business by region
● Lucrative business opportunities with SWOT analysis
● Recommendations

More Related Reports:
Disposable Plates Market https://www.maximizemarketresearch.com/market-report/disposable-plates-market/147886/

Dog Harness Market https://www.maximizemarketresearch.com/market-report/dog-harness-market/148648/

Amalgam Market https://www.maximizemarketresearch.com/market-report/global-amalgam-market/83029/

Window Rain Guard Market https://www.maximizemarketresearch.com/market-report/window-rain-guard-market/146943/

Softball glove market https://www.maximizemarketresearch.com/market-report/softball-glove-market/147552/

Global High Heat Foam Market https://www.maximizemarketresearch.com/market-report/global-high-heat-foam-market/118092/

Europe Thermal Imaging Market https://www.maximizemarketresearch.com/market-report/europe-thermal-imaging-market/10496/

Wind Turbine Tower Market https://www.maximizemarketresearch.com/market-report/wind-turbine-tower-market/169684/

Global Wraparound Case Packers Market https://www.maximizemarketresearch.com/market-report/global-wraparound-case-packers-market/106022/

Global Diathermy Equipment Market https://www.maximizemarketresearch.com/market-report/global-diathermy-equipment-market/101971/

MAXIMIZE MARKET RESEARCH PVT. LTD.

⮝ 3rd Floor, Navale IT park Phase 2,

Pune Banglore Highway, Narhe

Pune, Maharashtra 411041, India.

✆ +91 9607365656

Our team at Maximize Market Research is dedicated to excellence, demonstrated through our proactive approach to monitoring industry trends and advancements. We are committed to offering precise and actionable insights that empower businesses across diverse sectors to navigate challenges and capitalize on opportunities effectively. Whether you need market estimations, technical trend analysis, strategic guidance, or competition analysis, our team is ready to provide customized solutions that drive success. Partner with Maximize Market Research to achieve your strategic objectives and gain a competitive edge in today's dynamic business landscape.

This release was published on openPR.