Table of Contents
40T and 49T GCW offering will continue to be top-selling tractor trailer configurations. 25T and 31T GVW will be top-selling rigid body carrier configurations.
The Indian CV market has grown at a historical CAGR of x %, with domestic sales increasing from x units during 2008–2009 to x during 2013–2014.
x multi-axle vehicles were sold during 2013–2014 contributing about x % to total CV sales.
Rigid body carriers constitutes 84% of the total demand generated in the multi-axle vehicles market in FY2014.
25T and 31T Rigid Body carriers and 40T Tractor Trailer were the key selling configurations in the multi-axle vehicles market.
The muti-axle vehicles market is expected to grow at CAGR of x % for the next x years, generating a demand for x units in the financial year ending 2020.
Tata Motors Ltd., Ashok Leyland, and Asia Motor Works Ltd., together addresses x % of the total demand generated in multi-axle vehicles market.
Domestic Sales Snapshot Discussion
•In FY2014, total domestic sales stood at x units.
•This number is expected to rise to x units in FY2020, at a CAGR of x %.
•40T GCW tractor trailer segment is currently generating demand for x hp– hp range which is expected to increase slightly by x % to x % in the next x years.
• GVW and x GVW product offering are key configurations in rigid body carriers wherein horsepower utility is heavily concentrated to x hp engine. This is expected to shift slightly by x % in the next x years.
•From FY2010 to FY2014, GDP (factor cost) has averaged x %.
•Multi-axle vehicles market has registered maximum decline in the entire CV market.
•GDP is expected to peak in FY2018, at x %.
•Recent government initiatives are expected to pull back the attention of global investors towards India
•In FY2014, multi-axles market generated a total demand of x units.
•Sharp decline witnessed in the tippers and long haulage segment.
• T to x T rigid vehicles hold a significant share in the M&HCV segment.
•Multi-axle segment is expected to register a CAGR of x % from FY2014 to FY2020
• T rigid body carriers and 40T tractor trailers are expected to be the top-selling categories during this period.
•The market is dominated by 3 participants, namely, Tata Motors, Ashok Leyland, and AMW.
•Products that were introduced recently are indicating product positioning towards value-added trucks market.
•Market concentration is expected to be diluted further; however Tata Motors will continue to hold the leadership position.
•VECV is expected to intensify the competition in this segment.
•TCO will continue to be a key selling point for most volumes in India.
Value Proposition/ Value Truck Type
•TCO continues to remain a key element in purchase decisions.
•Independent Aftermarket Parts availability is a very critical factor that drives new vehicle sales.
•Value truck proportion in overall CV sales stands at x % in FY2014.
•India will continue to remain a low-cost truck market in the foreseeable future.
•Independent aftermarket service support will continue to play a critical role in customer’s purchase decision.
•Value truck proportion will reach x % in FY2020.
•Majority of the vehicle parc consists of Euro II and Euro III engines.
•Advance engines supporting Euro IV norms are yet to make a breakthrough in the CV market.
•Infrastructure to support sales of electric or hybrid vehicles is not in place.
•Hybrid- and natural gas-powered vehicles will account for around x units in domestic sales in FY2020.
•Fleet Management Systems (FMS), Tyre Pressure Monitoring Systems (TPMS) and Fuel Pilferage controlling systems are key value-added services which are expected to be in demand.
•Implementation of stringent emission control norms have been further delayed; Euro V norms will take a long time now to be visible in the Indian commercial vehicle industry.
•At present, over dimensional (OD) cargo norms are unclear.
•Speed limiting regulations for commercial vehicles plying on highway will further derail the demand for high powered engines.
•Currently, the basic EGR is able to address the emission norm requirement.
•BSIV+ norms are likely to be introduced in 2017 and will be implemented in a phased manner.
•Clarity on OD cargo will boost HCV tractor trailer sales.
•Transport hubs are expected to be shifted towards outer hubs several Tier I and Tier II cities. This is expected to increase the number of trips made per truck, thereby increasing the average mileage run. However, speed limiting regulation can counter this productive move, especially for multi-axle vehicles.
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