Indian Commercial Vehicles Market Landscape & Forecast, 2019-2030 - ResearchAndMarkets.com

DUBLIN--()--The "Indian Commercial Vehicles Market Landscape, Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The Indian commercial vehicle market is experiencing changes due to heavy regulatory winds, changes in customer preferences, segment shifts, increasing adoption of technology, and digitalization. Aspirational trajectory of economic potential, growing population, consumer commodity spending, infrastructure developments, overall manufacturing, and agricultural output will project the future of Indian commercial vehicle performance.

India is facing major imminent shift of emission from BS IV to BS VI from April 2020 leapfrogging BSV, a move that is aimed to curb threatening levels of air pollution in urban areas. Revised axle load regulation that was announced in July 2018 with immediate effect increases the vehicles permissible operating GVW capacity by approximately 12% to 15% had resulted in nationwide faster freight transportation. The major implication for trucks emanating from GST is the consolidation of widespread small to medium storage yards to regionally centralized large warehouses facility for hub-hub transportation. This has resulted in an increased demand for high GVW vehicles. Truck body code defines standards for body building to significantly improve the quality of vehicle applicable to both OEMs and local body builders. Vehicle scrappage policy, which proposes voluntary scrappage of old vehicle sunder incentive scheme, is unlikely. The Ministry of Road Transports & Highways has clear set regulatory roadmap with a focus on quality, safety, efficiency, and environment.

Proliferation of network and mobile phones is aiding traceability and accessibility of vehicles that have led to the adoption of connected business solutions that deliver profitable fleet management. Awareness of technology and realization of long-term TCO benefits drive the customer to invest in value-added features, moving away from the traditional price-based buying approach. Indian OEMs are heavily investing in R&D on performance enhancement features to withstand tough competition from foreign OEMs. Packaging beneficial features at attractive pricing is preferred during the introductory phase. Traditionally, a market where cowl is highly preferred, OEMs have considerably improved cabin styling and ergonomics that offer an overall superior driving experience.

The Government of India is ambitiously pursuing a transition to electrification and has announced FAME schemes to assist adoption. OEMs, technology companies, and relevant tier suppliers need to invest in relevant R&D with a long-term strategic implementation roadmap.

In 2018, India was the world's 3rd largest commercial vehicles market and the fastest growing globally. Much of the country's population falls into the working-age category, which provides a favorable environment for investment and production output. The permeating middle class is increasing the demand for commodity and consumption goods. High rate of urbanization and development in infrastructure and facilities will increase economic activity. eCommerce has emerged as a vital segment in the logistics sector, with the involvement of multinational companies competing to capitalize on opportunities. Overall manufacturing and industrial segment has garnered investment due to prevailing favorable economic conditions. The commercial vehicle market in India, which is a direct indicator of economic activity, is expected to grow at a CAGR of 2.97% from 2018 to 2030, with trucks performing at 2.82% CAGR and buses performing at 4.36% CAGR.

Government initiatives, a strong supplier ecosystem, availability of raw materials, human resource, and economies prospect enable India to emerge as a leading country in the commercial vehicle market. Both indigenous and foreign participants will steer technological and digital transformations needed to help organize the industry and progress advancement.

Key Topics Covered

1. Executive Summary

  • Key Highlights of Indian Commercial Vehicles (CVs), 2018

2. Market Definitions and Categorization

  • Market Definitions
  • Indian CV Segmentation-GVW
  • Research Scope

3. CV Performance Outlook

  • CV Performance Trend
  • CV Sales Trend
  • CV Sales Forecast
  • Forecast Considerations
  • OEM Landscape
  • Goods Carriers-Sales of Major Participants in India
  • Passenger Carriers-Sales of Major Participants in India

4. CV Volumes Forecast-India

  • Sales Forecast-LCV Goods Carriers
  • Sales Forecast-MCV Goods Carriers
  • Sales Forecast-HCV Goods Carriers
  • Sales Forecast-LCV Passenger Carriers
  • Sales Forecast-M&HCV Passenger Carriers

5. Segment Trend Analysis-LCV and M&HCV Segment Shifts, Market Share Analysis

  • LCV Segment Behavior
  • LCV Passenger Carrier Market Share Comparison
  • LCV Goods Carrier Market Share Comparison
  • M&HCV Segment Behavior
  • M&HCV Passenger Carrier Market Share Comparison
  • M&HCV Goods Carrier Market Share Comparison

6. Indian CV Exports Review-Key Export Markets, Demand, and Forecast

  • Indian CV Exports Volume Review
  • CV Exports-Share of GVW
  • Key Export Markets-ASEAN, Africa, Latin America, and the Middle East

7. Indian Trucks-Usage Practices and Major Applications

  • Industry Structure-Goods Carrier
  • Application Split for Truck Industry (LCV, MCV, and HCV)
  • Application by GVW Segments
  • Parcel Logistics
  • Major Core Segments of Parcel Logistics
  • Construction Materials
  • Fruits, Vegetables, and Perishables
  • Agriculture Products
  • Cement
  • Tankers and Bullets
  • Industrial Goods
  • Automotive
  • Mining

8. Regulations Outlook-Mandates and Implications on Indian CV

  • Regulations Outlook
  • GST Impact
  • Major Warehousing Hubs Emerge After GST
  • Axle Load Regulation
  • New Truck Axle Norms-Understanding GVW Impact
  • Impact of Axle Load Regulation
  • Implementation Challenges for OEMs
  • Overloading Practice in India-Trucks
  • Evolution of BS Norms in India
  • Truck Body Code
  • Motor Vehicle Amendment
  • Vehicle Scrappage Policy
  • Implementation of Scrappage Seems Highly Unlikely
  • Truck Regulations Affecting Vehicle Build Summary in Indian CV Market

9. Indian CV Technology Overview-Technological Progress, Latest Trends, Stakeholder Impact

  • Technology Roadmap
  • Technology Roadmap (continued)
  • Technology Roadmap (continued)
  • Transmissions Technology Evolution
  • Transmission Outlook-Manual to Automated
  • Active and Passive Truck Safety Systems
  • Cabin Ergonomics
  • Fleet/Driver Preferences-Fuel Efficiency Improvement
  • Fleet/Driver Preferences-Safety and Driving Assistance Systems
  • Fleet/Driver Preferences-Comfort and Ergonomics

10. Electrification in India CV-Initiative Schemes, Product Presence, Penetration Outlook

  • Hybrid and Electric CVs-Forces of Change in India
  • Government Initiatives for Electrification
  • Electric Vehicles (EV) Landscape
  • Electrification Forecast-Transit Bus Market

11. Telematics in Indian CV-Trends, Services, and Market Outlook

  • Indian Telematics Roadmap-CVs
  • Factors Driving Telematics Growth in India
  • Telematics-aided Services
  • Telematics in India
  • Telematics in CVs-Fleet Management Services (FMS) Integration

12. Indian Buses-Application, Major Fleets, and Trends

  • Bus Industry
  • Recent Trends in Passenger Transportation

13. Trends Impacting Goods and Passenger Carrier Movement in India

  • Growth in Urban Regions by 2025
  • India's Road Network-Fast-tracking Projects

14. Growth Opportunities and Strategic Imperatives

  • Factors Influencing Indian Truck Market Growth
  • Growth Opportunities
  • Strategic Imperatives

15. The Last Word

  • The Last Word-3 Big Predictions

16. Appendix

  • Market Engineering Methodology
  • List of Exhibits

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900