NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/07/01 - With the increasing demand from IT & ITES sectors and the launch of new models, utility vehicle sales is expected to surge strongly during 2010-11–2013-14, says RNCOS.
According to our research report “India Commercial Vehicle Market Analysis”, the Indian utility vehicle market has seen some rapid developments over the last few years. The need of employee transportation facilities in booming IT and BPO industry has infused demand for utility vehicles. However, the utility vehicle sales fell in 2008-09 amid economic slowdown.
The sales figures improved substantially in 2009-10 with the recovering demand from corporate and public sector enterprises as well as improving credit facilities. We anticipate that this trend will continue in future, and the sales will grow at a CAGR of around 9.1% during 2010-11 to 2013-14.
The report has found that seven-seated utility vehicles are currently dominating the overall demand. In 2009-10, this segment captured over 50% market share of the entire utility vehicle sales. Most of the seven-seated utility vehicles sold in India can perform better off road. Hence, most of the power and performance-driven (especially the young) population prefers these vehicles. It is expected that majority of manufacturers in coming years will launch their new models in this segment, which will further inflate demand.
“India Commercial Vehicle Market Analysis” is an outcome of extensive research and thorough analysis of the burgeoning commercial vehicle industry in India, including utility vehicles and multipurpose vehicle segments. The report also discusses market structure, current and past market performance and factors critical to the success of the commercial vehicle industry in India. We have also identified all the key players in the Competitor Analysis section of the report. The section talks about the business profile, strategic moves and recent developments of the leading players.
Most importantly, the report has also given the industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Indian commercial vehicle industry and will prove decisive for clients.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.