The Automotive Market in India was accounted for 3.99 Mn units in 2023 and the market is expected to reach 6.38 Mn units at a CAGR of 6.94 % by 2030.
Automotive Market in India Overview:
The Automotive Market in India analysis provides a comprehensive picture of competition, including the market share and company profiles of the worldwide industry’s top rivals. The research scope covers a complete analysis of the Automotive Market in India , as well as the causes for variances in the industry’s growth in various places
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Automotive Market in India Scope:
To identify and collect material suitable for this study, this research study makes considerable use of secondary sources, directories, and databases, such as annual reports, press releases, journals, corporate websites, and databases.
Automotive Market in India Drivers:
The increasing young population and rising income of middle-class families has been considered resulting in the growing market share for India in the automotive industry. India’s rapid urbanization in the recent years in all industrial sector, especially the automobile industry has driven the market. According to the Society of Indian Automobile Manufacturers (SIAM), in June 2021, the total production volume of commercial vehicles, passenger cars, three-wheelers, and two-wheelers combined was 1,693,639 units. Government initiative for the fast production and adoption of hybrid electric vehicles has increased while focusing on lowering the use of fossil fuels. The demand for the automotive market is further driven by increasing exports of Indian manufactured vehicles to other countries by the terms of volume. Indian automotive exports accounted for 1,419,430 units from April 2021 to June 2021.
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Automotive Market in India Segmentation:
by Vehicle Type
Passenger Vehicles
Hatchbacks
Mini Hatchback
Small Hatchback
Sedans
SUVs
MUVs/ MPVs
Other
Commercial Vehicles
Truck
Bus
Light Commercial Vehicle (LCV)
Others
Two Wheelers
Motorcycles
Scooters
Electric Bikes
Three Wheelers
Auto Rickshaws
Goods Carriers
Others
by Type
Petrol
Diesel
Electric cars
Others
Automotive Market in India Key Players: The key players are
1. Tata Motors Ltd
2. Maruti Suzuki India Ltd
3. Mahindra & Mahindra Ltd
4. Hero MotoCorp Ltd
5. Bajaj Auto Ltd
6. Ashok Leyland Ltd
7. TVS Motor Company Ltd
8. Eicher Motors Ltd
9. Force Motors Ltd
10. SML ISUZU Ltd.
11. Honda Motor Co., Ltd.
12. Hyundai Motor India
13. Daimler AG
14. Piaggio & C.S.p.a.
15. Toyota Motor Corporation
16. Volkswagen AG
17. AB Volvo
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Regional Analysis:
Individual market influencing elements and changes in market legislation that affect current and future market trends are also included in the regional component of the Automotive Market in India study. Current and future trends are examined to assess the entire market potential and uncover profitable trends to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
Key Questions Answered in the Automotive Market in India Report are:
1) What is the market share of the Global Automotive market in India in 2023?
2) Which vehicle segment is dominating the Automotive market in India?
3) What are the key players in the Automotive market in India?
4) Which factor acts as the driving factor for the growth of the Automotive market in India?
5) What factors are restraining the growth of the Automotive market in India?
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