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Dublin, Oct 17, 2023 (GLOBE NEWSWIRE) — The report “Forecast and Competitive Opportunities in India’s Light Commercial Vehicle Market, 2028” has been added to the ResearchAndMarkets. com offering. The Indian light commercial vehicle market is expected to grow in the coming years due to the boom of the e-commerce industry and the transition to zero-emission vehicles. One of the key forces of economic expansion will be the automotive sector. An advertising delivery vehicle with a gross vehicle weight of up to 7. 5 metric tons is known as a “soft advertising vehicle” (LCV). Pickup trucks and vans are examples of light vehicles.
India has one of the largest industries in the world, with domestic sales of 3. 79 million vehicles (excluding two- and three-wheelers) in 2022. However, due to the COVID pandemic and the nationwide lockdown in India , there has been a stable decline. in sales. sales in the last two years.
In addition, with the new BS6 engine models and electric vehicles, the automotive sector is accelerating its speed of sales progression. The Indian market for light advertising vehicles is growing due to the increasing investment in the development of the advertising vehicle generation. Growth in the infrastructure and logistics industry in India, the expansion of the light advertising vehicle market has been driven by the expansion of the e-commerce sector.
In addition, several end-use industries—food and beverage, construction, automotive, and healthcare—rely heavily on advertising trucks for the distribution of finished goods, from production services to sales themes, expanding the demand for advertising vehicles.
Moreover, shipping raw fabrics from places all over India is increasing the demand for lightweight advertising vehicles in the market. In addition, the government’s increased investment in infrastructure projects is also contributing to the sales of light advertising vehicles in India. Due to their small length and fuel efficiency, light vehicles are the preferred choice for transportation within the city. The total cost of transporting gasoline-powered vehicles accounts for 50-60% of freight. In addition, geopolitical constraints and pandemics have also impacted crude oil prices.
Rising energy prices tend to influence the purchasing power of large fleet owners of light advertising vehicles and individual consumers. The delivery of light advertising vehicles to fleet owners is also delayed due to the factor mentioned above.
In addition, restrictive emission and protection restrictions have increased the production value of a typical vehicle. Therefore, the above-mentioned points jointly lead to a slower growth rate of sales of light advertising vehicles in India. Distributors & Distribution Network The quality of advertising vehicles and the availability of products at the point of purchase has a significant effect on sales volume.
Therefore, giant corporations are launching a wide variety of products to increase the competitiveness of the light advertising vehicle sector in India. As a result, corporations are investing in an extensive distribution network to supply brands with a strong presence in a wide diversity of locations. .
In addition, this causes an increase in the sales of light advertising vehicles in the country. In addition, many companies are building a number of services in the city to make acquisitions. Similarly, the Indian market for light advertising vehicles is expected to grow. at a significant rate of expansion in the coming years, due to the expansion of networks in all Tier 1, 2 and 3 cities.
Market Opportunities The light advertising vehicle market in India has a lot of room to expand. The demand for light advertising vehicles has increased across the country due to the expanding growth of all industries.
In addition, industrialization is accelerating in several states. Therefore, significant opportunities are expected to expand in the region, which will increase the sales of soft advertising vehicles. In addition, the recovery of industrial, construction, and infrastructure operations in India will help advertising. The vehicle market is growing during the expected years. Recent Expansion
Maruti Suzuki India Ltd has collaborated with the Bangalore Institute of Management (IIMB) Startup Centre and the Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), to offer an extensive 9-month incubation programme to 26 automotive mobility companies selected from consideration.
Tata Motors signed a deal with Uber, a leading ride-sharing app, in 2023 to integrate 25,000 XPRES-T cars into its premium-class service.
In February 2023, Eicher Trucks
In August 2022, one of the country’s largest vehicle producers, Ashok Leyland, introduced the BADA DOST i1 and i2. These cars feature central locking, keyless entry, and anti-theft technology.
In 2022, in a bid to diversify its product line, Mahindra
Competitive Landscape Company Profiles – Detailed research of the key corporations offering the Indian Light Commercial Vehicle Market.
Tata Motors Limited
Mahindra
Ashok Leyland Limited
Limited EV Commercial Vehicles
Maruti Suzuki India Limited
Limited engine power
SML Isuzu Limited
Piaggio Private Limited Vehicles
Toyota Automotive Company
Eicher Engines
Scope of the report:
Voice of the Customer Analysis
Factors Influencing the Purchase Decision
Brand Awareness
Brand satisfaction level
India Light Commercial Vehicle Market, by Vehicle Type:
Vans
Vans
India Light Commercial Vehicle Market, Propulsion Type:
GLACE Vehicles
Electric Vehicles
India Light Commercial Vehicle Market, End-User:
Individual
Fleet Owner
India Light Commercial Vehicle Market, by Region:
North
South
West
It’s
For more information on this report, https://www. researchandmarkets. com/r/u9cta4
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