The Indian Truck market is one of the most attractive markets that has been a focal point of the development of many Foreign truck manufacturers. European players are busy occupying their position & space within the market, and various Asian including Chinese manufacturers are evaluating the potential of this segment.
The rigid Haulage segment is the biggest truck segment, Tipper is the normally profitable segment and Tractor is a growing segment in India. The key driver of the segment is E-Commerce growth, New Construction, Overall positive sentiments in the Macro Economy, road infrastructure and long-distance transportation of commodities will experience positive growth.
In general, trucks can be divided into Premium, Medium Budget, High Budget, and Low-Cost segments, considering the key role of Customer buying trends, OEM’s product quality, and spare parts manufacturers. Every Zone and state has different market dynamics which needs to be understood and create a strategy accordingly.
To succeed here, one must understand the state-wise dynamics since every state is diverse in terms of Customer Behavior, Nature, Type of Business, Language, Financing, Type of Industry, State Policies, Tax etc. The complexity could be compared to China.
Report Highlights:
– GVW wise: Mini, Pickup, LDT, MDT, and HDT
– Type Wise: Rigid Haulage, Tipper and Tractor
Category: Small Truck, LDT, MDT & HDT
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