Top Players in the Indian Truck Companies | IMARC Group

According to IMARC Group, The India truck market size reached US$ 22,126 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 44,600 Million by 2032, exhibiting a growth rate (CAGR) of 7.86% during 2024-2032.

A truck refers to a motor vehicle designed mainly for the transportation of materials, goods, and sometimes specialized payloads like construction equipment. Trucks vary broadly in power, sign, and configuration, but most feature a chassis, cab, and cargo area. Smaller trucks, often seen in urban settings, resemble large cars and are employed for lighter loads. Whereas larger trucks like semi-trailers, big rigs, and dump trucks, are vital to the construction industry and commercial transport. Trucks are fundamental to global commerce, facilitating the efficient distribution of goods from factories, ports, and farms to markets and consumers.

Discover opportunities, challenges, and trends in the India aquafeed market @ https://www.imarcgroup.com/india-aquafeed-market/requestsample

The Indian truck market is majorly driven by the development of manufacturing hubs in commercial activities and continual technological advancements in the truck. Key players are dominating the market with a significant share, leveraging their deep understanding of local conditions and customer preferences. For instance, in September 2023, Tata Motors, India's largest commercial vehicle manufacturer announced the launch of 'Truck Utsav' a unique customer engagement initiative. Truck Utsav is aimed at raising awareness of its latest vehicles and mobility solutions, showcasing innovative and technologically advanced trucks with unique value-added services. Similarly, in February 2024, commercial vehicle maker, Ashok Leyland Ltd invested in TVS Trucks and Buses Private Ltd (TVS Trucks) by purchasing equity shares worth rupees 24.95 crore.  For instance, in January 2024, Mahindra & Mahindra Ltd. (M&M), the market leader in Small Commercial Vehicles (SCVs) in India, announced the launch of the new Supro Profit Truck Excel series, available in both Diesel and CNG Duo variants. Building on the success of the Supro platform, the Profit Truck Excel series has been designed to redefine last-mile connectivity with its superior power, exceptional style, unparalleled safety, and unsurpassed comfort. International players have also established a strong presence in India, catering to premium segments with advanced technology and higher payload capacities. For instance, in 2024, as part of a new strategy of being segment-selective, Daimler India Commercial Vehicles (DICV) is focusing product, marketing, and capacity attention on specific, less price-sensitive, and more technologically strong market segments. The company is lining up 14 new products for the calendar year 2024 with a new range of rigid heavy-duty trucks, followed by trucks with the newly introduced Automated Manual Transmission (AMT) and then the construction and mining truck heavy-duty range. This further facilitates the growth of the market.

List of Top Truck Companies in India

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.
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-companies

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.