Key Market Indicators
India's truck import market is projected to hit approximately $87.5 million by 2028, up from an estimated $75.2 million in 2023, representing an annual compound growth rate (CAGR) of 2.4%. This growth trend has been consistent since 1993, with Indian demand increasing by 1.5% annually. Meanwhile, India's truck export sector is expected to reach around $1.83 billion by 2028, rising from about $1.52 billion in 2023. This marks a yearly CAGR of 2.9%, with the country's supply having grown by 2.6% per year since 1993. In the global export rankings for 2023, India secured the 21st position, trailing South Korea, which also recorded exports worth $1.52 billion. The United States, Germany, and France occupied the second, third, and fourth positions, respectively.
