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Forecast of the Indian Commercial Vehicle (CV) Market

  • August 2014
  • -
  • Frost & Sullivan
  • -
  • 116 pages

Summary

Table of Contents

CVs are Expected to Witness a Moderate CAGR of 6.8% from FY2014 to FY2020

Massive urbanization will drive the growth of the LCV segment in India. The new government will focus on urbanization as an opportunity and create 100 more urban cities over the next 5 years. Urban consumption will be key to the 6.8% CAGR from FY2014 to FY2020. Additionally, upgrading India's infrastructure will be a priority for the government to speed up the demand for goods carriers in the M&HCV segments, which is expected to witness a CAGR of 6.9%.

Executive Summary—Key Findings
Total CV Market: Key Takeaways, India, FY2014
1 Exports will outperform domestic sales, % versus %, respectively, from FY2014 to FY2020
2 The domestic commercial vehicles (CV) market in India is expected to witness a compound annual growth rate (CAGR) of % from FY2014 to FY2020.
3 Exports will outpace domestic sales during the same period, at a CAGR of %.
4 CV sales will be primarily driven by the increased road freight growth in proportion to the GDP growth rate. GDP growth rate will peak in FY2018, at%.
5 The light commercial vehicles (LCV) segment is anticipated to witness a CAGR of% due to the higher base effect.
6 New-generation medium and heavy commercial vehicles (M&HCV) is expected to witness a CAGR of %.
7 The penetration rate of medium-duty-heavy-duty (MD-HD) trucks is expected to reach% of the total sales in FY2020.
8 Alternate fuel technology-enabled CV sales will amount to units in FY2020.

Executive Summary—Domestic Sales Snapshot Discussion
The LCV goods carrier segment will continue to dominate volumes, with sales of million units in the domestic market
-In FY2014, total domestic sales stood at million units.
-This number is expected to rise to million units in FY2020, at a CAGR of%.
-The LCV goods carrier segment will continue to dominate the market in terms of annual unit sales, reaching million units in FY2020.
-The M&HCV segment will reach sales of million units in FY2020 in the domestic market. The CAGR is expected to be % from FY2014 to FY2020, against a CAGR of % for the LCV good carrier segment during the same period.

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