Indian Passenger Vehicles Markets, FY2018 - FY2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 2, 2019--
The “Indian Passenger Vehicles Market, Forecast to FY2024” report has been added to ResearchAndMarkets.com’s offering.
This research entails the latest trends in the Indian PV market. Pre-owned cars eRetailing has been a major disruptive trend. A move toward active safety features is another key trend witnessed in the market. Airbags and sensors penetration is increasing incrementally across all vehicle segments, and the next logical step toward driver and passenger safety in India is expected to be active safety features.
Domestic sales in the Indian passenger vehicles (PV) market grew from 3.2 million units in FY2018 to 3.3 million units in FY2019. The study estimates the market size of the Indian PV market, as well as segment forecasts up to FY2024, with due consideration for the various factors driving and restraining its growth. The segmental shifts in the PV market in India are evident from the greater number of participants and available models in the compact and the compact UV segments. The disparity within the segments is also clear in the shifting segmental share within the market.
Naturally, the competition among market participants has intensified in these growing and popular segments. The competitive scenario is expected to be further impacted by the entry of new participants in the market from FY2021. However, more than 50% of the market share remains with a single OEM. The market has also witnessed rapid growth and the increasing popularity of a few companies, with their well-received new product launches in FY2018-FY2019 and a greater focus on rural segments. PV exports witnessed a decline since FY2018. Exports declined between FY2018 and FY2019, chiefly owing to certain key factors including the trade barriers by key export destination countries.
Ride-hailing and ride-sharing service categories are highly competitive in India, with a few participants having the biggest market share and new participants entering the segment with innovative offerings and OEM tie-ups. The study also focuses on regional trends such as diesel decline, electrification, and other technological trends, such as connected cars.
From a connectivity perspective, OEMs are introducing safety and security offerings through connectivity and differentiating their car models by better infotainment systems. Furthermore, the PV market in India is expected to witness increased diffusion of automotive transmission technologies such as AMT, CVT, DCT, and S-AT. Out of these, certain transmission technologies are expected to see higher diffusion than the others, due to OEM interest and affordability.
The study analyses the key market drivers and restraints and concludes with the key strategic imperatives for growth and success in the market.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Segmentation
3. Indian Socio-economic Outlook
4. Indian PV Market Overview
5. Segmental Analysis of PV Market in India
6. Profiles of Top 3 OEMs
7. Mega Trends Impacting Indian PV Market
8. Legislative Trends in the Indian PV Market
9. Powertrain Trends in the Indian PV Market
10. Transmission Outlook of the PV Market in India
11. Safety Outlook of the PV Market in India
12. Connectivity Outlook of the PV Market in India
13. Pre-owned Cars Market in India
14. Shared Mobility Outlook in India
15. Indian PV Market - Drivers and Restraints
16. Indian PV Market - Future Outlook
17. Growth Opportunities and Companies to Action
18. The Last Word
For more information about this report, visit https://www.researchandmarkets.com/r/1n394t.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191202005638/en/
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KEYWORD: INDIA ASIA PACIFIC
INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 12/02/2019 10:14 AM/DISC: 12/02/2019 10:14 AM