Noida, UP India (PressExposure) May 05, 2011 -- As per our new research report "India Commercial Vehicle Market Analysis", the commercial vehicles segment of the Indian automobile industry is one of the fastest growing markets in the world. The industry is enjoying attention from manufacturers from all parts of the world, who have penetrated the Indian automobile industry independently or through a joint venture. In either case, almost all the companies have established their production units in India, and are engaged in manufacturing technologically advanced commercial vehicles for the vast population. Following the end of the global recession, the industry has been receiving a boost from the rising infrastructure development projects and growth in related industries that required commercial vehicles. Passenger carriers are one of the most prolific variants in the commercial vehicles segment. Due to the increasing urbanization and related need for inter-state transportation, the passenger vehicles segment is expected to grow at a CAGR of around 15% during 2011-12 and 2014-15.
Our report suggests that, the industry as a whole is receiving ample support from the Indian Government. For instance, in the recently announced budget for FY 2011-12, the government has provided tax rebates and excise duty concessions, which would benefit the commercial vehicles segment. Besides, these provisions will allow the development and commercialization of electric/hybrid commercial vehicles to drive the green revolution in the segment. Additionally, the automobile companies are expanding their production capacities to cope up with the rising demands, which would further benefit the overall growth of the industry.
Through prudent and in-depth analysis, we have covered all the major segments of the commercial vehicles market, including utility vehicles and multi-purpose vehicles. Within each segment, we have forecasted the production, sales, and export figures for the next 4 fiscals. Additionally, the report covers the description of the key players in the market along with all their prominent recent developments.
Our report, "India Commercial Vehicle Market Analysis" also provides a rational analysis of the reliable statistics of the market. Besides, the report covers market trends, industrial developments, and regulatory environment to enable clients understand the market structure and its progress in coming years.
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