The Indian Commercial Vehicle Industry doesn’t get the mainstream attention it deserves. Those in the know would tell you that our CV industry is indeed the backbone on which we are constantly rising towards envious global business platforms. To simply put, India runs on its exhaustive, ever expanding road network and the commercial vehicles plying on this vast network forms the soul of this whole system. In fact, this has made our CV market the fastest growing CV market in the world. The current market size of the Indian CV is approximately 8.7 lakhs units for the year 2018. And This year, the CV market is expected to grow at a whopping 22% as per recent reports.
And it is not just the sheer volume that has seen an exponential rise over the years, there has been much-needed improvements on significant points like Safety, Emissions, Efficiencies, etc. as well. Through this clear growth in our CV segment, we are seeing a corresponding growth in infrastructure, economy, replacement cycles. Furthering this are the new and upcoming rules and regulations, transportation of heavy goods and machinery, growth in the construction and mining segment, advancement in technology, E waybill systems, new safety norms, telematics, high demands are expected in the rural economy due to normal monsoon, overloading ban, hub and spoke model started to work on the ground are the major initiative and the key drivers for development and growth of industry.
This is the reason why the health a country’s automobile industry especially the CV one, is a clear indication of how the economy is doing. The year 2019, also exists on the cusp of the times when our CV industry starts to absorb newer technologies for improvements in emissions, safety and efficiency across the board. 2018 saw a huge growth for the tractor-trailer, Tipper, and 31T plus rigid haulage. 2018 also saw the market leaders comes closer to each other in terms of share, setting up 2019 to be a thrilling affair.
And therefore, we have brought together an overview of the Indian Commercial Vehicle Industry for you to dwell upon. Come on! Who doesn’t like those big trucks and their mighty torques? Read on, there is a lot to take in.
Click on the manufacturer’s name to read in detail about the brand’s offerings in the Indian market:
[The CV Guide was included as a supplement with the May 2019 issue of Motoring World — produced in association with Reliance.]
