India Small Commercial Vehicle Market, By Vehicle Tonnage (Less Than 1 ton, 1 - 2 Ton, and 2 - 3 Ton), By Industry (E-commerce, FMCG, Pharma, Electronics, Construction, and Others), By Propulsion, By Region, Competition, Forecast & Opportunities, FY2027

The Indian Small Commercial Vehicle Market in the year FY2021 stood at USD1909.91 million. The market is anticipated to grow further with a CAGR of 15.14% in the forecast years FY2023-FY2027, to achieve a market value of USD4256.93 million by FY2027. The Indian Small Commercial Vehicle Market is anticipated to grow on account of increasing logistic services in the local market that surge the demand for small commercial vehicles. Government initiatives, financial support, and increasing investments from the manufacturing companies are further driving the growth of the Indian Small Commercial Vehicle Market in the upcoming five years. Rapidly growing road and highway infrastructures and growing online shopping and shipping network are further supporting the growth of the Indian Small Commercial Vehicle Market in the next five years. Increasing urbanization, growing small and medium businesses, increasing the transportation of products between local and regional destinations are substantiating the growth of the Indian Small Commercial Vehicle Market in the future five years. The small commercial vehicle has advantages like a wider reach to narrow roads, steep hilly regions, etc., needed for last-mile connectivity. Wider reach of small commercial vehicles to narrow roads over other means of transport for transporting goods is propelling the small commercial vehicle market to grow in the country.

The Indian Small Commercial Vehicle Market is segmented by vehicle tonnage, industry, propulsion, regional distribution, and competitive landscape. Based on industry, the market is further bifurcated into e-commerce, FMCG, pharma, electronics, construction, agricultural, hospitality, forestry, oil & gas, and others. FMCG industry is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of the increasing reach of application of small commercial vehicles in transportation of products like breads, eggs, bathing soaps, facewash, washing powder, etc. to a consumer from local as well as regional markets. Increasing population of the country, growing internet penetration, schemes and discount offers over online shopping platforms, easier delivery services are also aiding the growth of the Indian Small Commercial Vehicle Market in the future five years.

Lohia Auto Industries, Tata Motors Limited, Ashok Leyland Limited, Atul Auto Limited, Piaggio Vehicles Pvt. Ltd. (PVPL), Mahindra & Mahindra Ltd, Bajaj Auto Ltd., TVS Motor Company, Isuzu Motors India Private Limited, Saera Electric Auto Pvt. Ltd, are among the major market players in the India platform that lead the market growth of the Indian Small Commercial Vehicle Market.

Years considered for this report:

• Historical Years: FY2017- FY2020
• Base Year: FY2021
• Estimated Year: FY2022
• Forecast Period: FY2023-FY2027

Objective of the Study:

• To analyze and estimate the market size of the Indian Small Commercial Vehicle Market from FY2017 to FY2020.
• To estimate and forecast the market size of the Indian Small Commercial Vehicle Market from FY2021 to FY2022 and growth rate until FY2027.
• To classify and forecast the Indian Small Commercial Vehicle Market based on type, surgery type, end-user, regional distribution, and competitive landscape.
• To identify dominant region or segment in the Indian Small Commercial Vehicle Market.
• To identify drivers and challenges for the Indian Small Commercial Vehicle Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Small Commercial Vehicle Market.
• To identify and analyze the profile of leading players operating in the Indian Small Commercial Vehicle Market.
• To identify key sustainable strategies adopted by market players in the Indian Small Commercial Vehicle Market.

The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the country. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the manufacturers which could not be identified due to the limitations of secondary research. The publisher analyzed the manufacturers, distribution channels and presence of all major players across the country.

The publisher calculated the market size of the Indian Small Commercial Vehicle Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to small commercial vehicle
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the Indian Small Commercial Vehicle Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

India Small Commercial Vehicle Market, Vehicle Tonnage:

• 2-3 Ton
• < 1 Ton
• 1-2 Ton

India Small Commercial Vehicle Market, By Industry

• FMCG
• E-Commerce
• Agricultural
• Construction
• Pharma
• Electronics
• Oil & Gas
• Hospitality
• Forestry
• Others

India Small Commercial Vehicle Market, By Propulsion

• ICE
• Electric

India Small Commercial Vehicle Market, By Region

• West
• South
• North
• East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Indian Small Commercial Vehicle Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.