{"id":3029,"date":"2021-05-30T10:45:09","date_gmt":"2021-05-30T05:15:09","guid":{"rendered":"https:\/\/www.autobei.com\/autoreports\/?p=3029"},"modified":"2025-09-11T16:26:57","modified_gmt":"2025-09-11T10:56:57","slug":"indian-truck-product-and-market-report-fy-2021","status":"publish","type":"post","link":"https:\/\/www.autobei.com\/autoreports\/commercial-vehicle\/indian-truck-product-and-market-report-fy-2021\/","title":{"rendered":"Indian Truck Product and Market Report FY 2021"},"content":{"rendered":"

The Indian Commercial Vehicle, in particular, the Truck Industry<\/a> is facing a downswing since the third quarter of FY 2020. With just less than half a million sales done in FY 2021, the Indian Truck market registered a negative Compound Annual Growth Rate (CAGR) of 3% between FY 2012 to FY 2021.\"Indian<\/p>\n

Model wise Truck Sales Data and product Strategy:<\/strong><\/p>\n

\"Indian<\/p>\n

Tata Motors is a market leader accounting for 43% market share in FY 2021, after losing 18% market share in the past 10 years. The company registered a CAGR of -6.6% from FY 2012 to FY 2021, appearing to topple its annual growth. Ashok Leyland, Mahindra, Maruti Suzuki, Isuzu, and Volvo however registered positive annual compound growth in the same period. With Mahindra, Ashok Leyland, and Maruti Suzuki adding 9%, 7%, and 5% respectively in the last 10 years, appears to straighten the market growth for them.\"IndianThe key reason behind gaining the market share is firstly the entry into a new segment and secondly launching a new product range with competitive price. It is undeniable that the new generation massively influences not only the purchase decision but also the changing vehicle purchase cycle. Customers seek out to test other brands available and this led to increment in Mahindra, Ashok Leyland, and Maruti\u2019s market share in Indian Truck Industry Trend.<\/p>\n

While currently the entire world is brought to a stand-still position, OEMs launched a new products range. Trucks are designed for demanding applications such as courier and parcel, poultry, white goods, agri-perishable, e-commerce, FMCG, Garbage Dumper, auto parts, and reefer.<\/p>\n

Customers are anticipating efficient solutions about transportation and not just vehicles. To meet the customer expectations, OEMs are providing the After Sales Service, Digital technology solution, and advanced technology at affordable prices.<\/p>\n

Tipper, Rigid Haulage, and Tractor-Trailer:<\/strong><\/p>\n

The Tipper<\/a> segment just had a 9% segment share in FY 2021. The Tractor Trailer segment is also terribly affected by multiple factors and concluded FY 2021 with a 3% segment share.<\/p>\n

After launching new products with improved payload capacity, consumers began to move to higher tonnage tippers to get better TCO.<\/p>\n

In the Overall Truck segment, Tata Motors rules around 57% market share, Ashok Leyland is the second largest OEM with a 29% market share. and\u00a0 Eicher increased its market share from 5% to 8% in just one year in the Tipper segment.\"Indian<\/p>\n

In the Heavy Duty Tipper segment, Tata Motors rules 60% and Ashok Leyland rules 30% market share, In the premium Tipper segment, Volvo is having more than 90% market share.<\/p>\n

The rigid Haulage segment tops the Indian chart being the largest segment in Indian Truck Industry. 90% of sales come from the Rigid Haulage segment. Tata Motors, Mahindra, and Ashok Leyland are amongst other leading players in this segment.<\/p>\n

The tractor Trailer segment got shrunk. It happened due to the launching of heavy Duty Rigid Haulage and the changing market dynamics. Tata Motors emerged to be the market leader possessing 64% and Ashok Leyland with 27% market share in FY 2021.<\/p>\n

Segment level Analysis:<\/strong><\/p>\n

Heavy Duty Truck (HDT):<\/strong><\/p>\n

Except for Pickup trucks, the all-sub segment of the Truck Industry registered negative CAGR from FY 2012 to FY 2021. The Pick segment registered 8%<\/strong> CAGR. The HDT segment recorded a CAGR of -7%. While, MDT, LDT, and Mini Truck registered -6% CAGR in the last 10 years.\"Indian<\/p>\n

In FY 2016, HDT was the largest segment in the Indian Truck market with a 36% Segment share. However, in FY 2021 it had only a 21% share. On the other hand, demand for Mini and Pick Up Truck expanded because of increased usage of the trucks.<\/p>\n

After FY 2019, HDT turned out to be the most affected segment with degrowth of 50% and 15% in FY 2020 and FY 2021.<\/p>\n

Tata Motors is the leading player in the HDT segment but lost a 12% market share in the last 10 years. BharatBenz is also one of the reasons that some of the volumes have been shifted to BharatBenz’s sales pocket. Eicher is aggressive to gain market share in this segment. The company increased its market share from 3% in FY 2012 to 7% in FY 2021 with a CAGR of 5%.<\/p>\n

\"Indian<\/p>\n

Volvo Trucks registered the largest degrowth in the last two years mainly due to weak demand in some specific segment.\"Indian<\/p>\n

Medium-Duty Truck (MDT):<\/strong><\/p>\n

Tata Motors managed to achieve momentum in this segment. In FY 2016, FY 2017, and FY 2018 Eicher had been the leader in this segment. After FY 2018, Tata is ahead of Eicher with a 46% market share in FY 2021.\"Indian<\/p>\n

Eicher lost its grip in this segment having to maintain only a 31.5% market share in FY 2021. Ashok Leyland focused on this segment and gained a 9% market share with a 4% CAGR in the last 10 years.<\/p>\n

\"Indian<\/p>\n

Light-Duty Truck (LDT):<\/strong><\/p>\n

In FY 2012, Tata Motors had a 70% market share. But in FY 2021, it has only a 56% market share showing a slump of 14%.\"Indian<\/p>\n

The company lost 14% market share in the last 10 years. On the other hand, Eicher\u2019s new product launches helped it reach 29% from the 13% market share in the last decade. SML and Isuzu registered 3.8% and 1.2% CAGR between FY 2012 to FY 2021.\"Indian<\/p>\n

Pick Up Segment:<\/strong><\/p>\n

This is one of the fastest-growing and currently the largest segments in the Indian Truck Industry. Due to its size and company product portfolio, Isuzu launched its Pickup truck in this segment. Due to its quality and performance, it is estimated to make a pronounced presence in this segment.\"Indian<\/p>\n

Tata Launched Tata Intra’s product range and Yodha to gain market share. Ashok Leyland also launched Bada Dost to target a new customer segment for Driver cum owner but the better driving experience.<\/p>\n

\"Indian<\/p>\n

Mini Truck:<\/strong><\/p>\n

In FY 2021, Mini Truck is the second-largest truck segment. Unfortunately, the pandemic induced cessation of its growth. Customers switched to buying Pickup trucks instead of Mini trucks to get more applications and better business.<\/p>\n

\"Indian<\/p>\n

Tata Motor is the market leader with a 62% market share. The company lost 12% market share in the last decade.
\nAfter the entrance of Maruti Suzuki, Tata Motors lost 9% and Mahindra lost 11% market share. Maruti’s product position and specifications helped the company become the fastest growing OEM in this segment with a 21% market share.<\/p>\n

\"Indian
\nOutlook:<\/strong><\/p>\n

Though the year 2020-2021 brought the whole world to a halt and toppled the industrial economy like never before. Demand in some sectors like construction, mining, and e-commerce, and commercial vehicle sectors is going to pick up in short to medium duration.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Indian Commercial Vehicle, in particular, the Truck Industry is facing a downswing since the third quarter of FY 2020. With just less than half a million sales done in FY 2021, the Indian Truck market registered a negative Compound Annual Growth Rate (CAGR) of 3% between FY 2012 to FY 2021. Model wise Truck<\/p>\n","protected":false},"author":1,"featured_media":3053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4,6],"tags":[],"class_list":["post-3029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-vehicle","category-truck"],"acf":[],"yoast_head":"\nIndian Truck Product and Market Report FY 2021 – Autobei Consulting Group<\/title>\n<meta name=\"description\" content=\"Indian Truck market registered a negative Compound Annual Growth Rate (CAGR) of 3% between FY 2012 to FY 2021. 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