Tipper market analysis 2012
From 2007 to 2011, the market in India for medium and heavy trucks increased by more than 17%. Heavy trucks were more heavily affected by the financial crisis than light commercial vehicles, with declines posted in 2008 and 2009. Since this decline, during which GDP growth fell to around six percent, India’s economy has rallied, with economic growth of about nine percent. Recovery in the construction sector has further increased the demand for heavy trucks.
Construction equipment, Materials, Finance, other expenses etc. are the main components of construction cost, only material (Majorly steel & cement) contribute around 50-60%. In port 18-20cum box body with 8X4 configuration became popular now. For Dams need product with shorter wheelbase and turning radius. For other application depends on type of the project.
Major players in above defined application are Tata, Ashok Leyland, AMW and in JV or foreign brand MAN, Mahindra Navistar with more horse power and torque compare to Indian OEMs. Now construction industry is started to consider product with more horse power. Indian OEMs also upgraded to their portfolio with latest technology and for better TCO. Tata has launched Prima range, Ashok Leyland has launched U truck range with better product features and after sales support. Indian customers are gradually changing their taste, there should be drastic change in product portfolio.
Key factors considered by customers
When customer purchases a truck he will consider few major technical detail of truck like Brand, TCO, Engine, Transmission etc. Normally customer check only horse power of engine but they must check torque of the engine in order to make sure about Grade ability and performance of Truck. Based on our primary research we draw following result:
Purchasing criteria will be changed gradually in 2015, price will be still looking first criteria for purchasing vehicle, and to increase uptime of vehicle, after sales and quality became more important in 2015.