Automotive Market In India 2023-2027
The automotive market in India is forecasted to grow by USD 47.83 bn during 2022-2027, accelerating at a CAGR of 7.12% during the forecast period. The report on the automotive market in India provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing middle-class population, advances in the field of automotive technology, and government initiatives and policies for easy automotive industry setup procedures.
Technavio's automotive market in India is segmented as below:
- By Type
- Two-wheelers
- Passenger cars
- Commercial vehicles
- Three-wheelers
- By Fuel Type
- Diesel
- Petrol
- CNG and LPG
- Electric
- By Distribution Channel
- Offline
- Online
This study identifies the rise in demand for electric vehicles as one of the prime reasons driving the automotive market in India growth during the next few years. Also, growing preference for connected cars and surge in demand for compact SUVs will lead to sizable demand in the market.
The report on the automotive market in India covers the following areas:
- Automotive market in India sizing
- Automotive market in India forecast
- Automotive market in India industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive market in India vendors that include Bajaj Auto Ltd., Daimler Truck AG, Eicher Motors Ltd., Force Motors Ltd., Ford Motor Co., General Motors Co., Hero Motors Co., Hinduja Group Ltd., Hindustan Motors Ltd., Honda Motor Co. Ltd., Hyundai Motor Co., Kia Motors Corp., Mahindra and Mahindra Ltd., Nissan Motor Co. Ltd., Piaggio and C. Spa, Renault SAS, Suzuki Motor Corp., Tata Motors Ltd., TVS Motor Co. Ltd., and Volkswagen AG. Also, the automotive market in India analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
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 an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.