TechNavio recognizes the following companies as the key players in the Commercial Vehicle Market in India: are Tata Motors Ltd., Ashok Leyland Ltd., Mahindra and Mahindra Ltd., Eicher Motors Ltd., and Force Motors Ltd.
Commenting on the report, an analyst from TechNavio’s Automotive team said: ”Companies could benefit from the strong growth prospects in the Indian Automobile industry. The growing economy coupled with the growth of the middle class over the last few years has fuelled the demand for automobiles in the country. Furthermore, to make India a powerhouse in the global Automobile industry, the government launched the Automotive Mission Plan. This aims to make India a destination of choice in the world for the design and manufacture of automobiles and auto components. Thus, the vendors can benefit from the plan and garner a higher market share. Moreover, the development of road infrastructure to improve the rural area connectivity in India provides additional scope for improved sales.”
According to the report, one of the important drivers is the increase in investments by OEMs in India. Such investments are increasing the competition in the market and enhancing the R and D facilities and the technological advancement across the country, thus directly influencing the market.
Further, the report states that the increase in raw material prices is one of the major challenges confronting this market. Commercial vehicle manufacturers have become extremely sensitive to raw material prices and they are facing the threat of losing business to competitors. Hence, the raw material prices will continue to be the major concern for the market in the near future.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Asia MotorWorks Ltd., Swaraj Mazda Ltd., Volvo India, and Piaggio Vehicles Pvt. Ltd.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/commercial-vehicle-market-india-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Automotive market research, please visit https://www.technavio.com/automotive
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TechNavio Announces the Publication of its Research Report – Commercial Vehicle Market in India 2012-2016
