India Passenger Car Market Outlook Market: Emerging Players with Size and Share, Regional Trends and Strategies Forecast 2021-2024

India Passenger Car Market Outlook

The “India Passenger Car Market Outlook Market” Report provides a thorough examination of the market. The India Passenger Car Market Outlook Market research investigates how firms in the India Passenger Car Market Outlook Market are reacting to changing market conditions by examining major industry strategies. The report covers current top players are recognised and rated based on their market shares. It also includes data on leading manufacturers, market segmentation by types, applications, and geographic regions. Market capacity, production, consumption, sales, and revenue are all discussed in this India Passenger Car Market Outlook market report.

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Competitor Analysis:

India Passenger Car Market Outlook market covers the vision of competitor analysis by product types, market share, applications, sales and revenue. It covers the top key players like –

  • Automotive Manufacturers
  • Maruti Suzuki India Ltd.
  • Hyundai Motor India Ltd.
  • Mahindra & Mahindra Ltd.
  • Tata Motors Ltd.
  • Honda Cars India Ltd.
  • Toyota Kirloskar Motor Pvt Ltd.
  • Volkswagen India Pvt Ltd.
  • Renault India Pvt Ltd.
  • Nissan Motor India Pvt Ltd.
  • Skoda Auto India Pvt Ltd.
  • Ford Motors India
  • Automotive Ancillary Manufacturers
  • Robert Bosch
  • Samvardhana Motherson Group
  • Exide Industries Ltd.
  • WABCO India Ltd.
  • Sundaram Clayton Ltd
  • Gabriel India Limited
  • Bharat Forge Limited
  • Spark Minda
  • JBM Group
  • India Nippon Electricals limited
  • Mahindra CIE Automotive Ltd.

    Market Overview:

  • The Indian Passenger Car Market is anticipated to grow at a CAGR of 9.5% during the forecast period, 2019-2024.
  • The Indian automotive industry has been experiencing steady growth in the demand for and sale of passenger cars, owing to improvement in economic condition, and rise in disposable income of the consumers, over the past few years. The country has witnessed a gradual shift from transportation to comfortable/convenient transportation, and from convenient transportation to luxurious and safe transportation.
  • – The globalization and commercialization further helped to increase connectivity and broaden the overall automotive industry’s presence and importance in the country.
  • – The Indian automotive industry is shifting from just being a components manufacturer, to being an assembler and manufacturer of complete vehicles, including passenger cars.
  • – India is also a major exporter of automotive parts, components, and assembled vehicles to countries in the Middle East and Asia, which is expected to continue to be a major contributor to the country’s automotive industry’s revenue.
  • – With the growing presence of international automobile manufacturer’s and brands, and the consumer’s ability to purchase a new car and to maintain such car, consumers have been willing to buy more than one passenger car to suit their various daily needs and travel purposes.
  • – Additionally, a consistent rise in population has been a major factor responsible for the rise in automotive industry revenue – both commercial vehicles and passenger cars.
  • – Furthermore, with the growing focus on improved fuel economy and reduced exhaust emissions, the demand for and sale of electric vehicles, especially electric cars, is expected to witness fast growth during the forecast period. However, inadequate charging infrastructure and high cost of these electric cars may hinder the growth of the market.

    Key Market Trends:

    Growing Auto Component Industry

    The Indian automotive component industry is expected to witness healthy growth during the forecast period owing to increasing domestic demand, rising exports, and the increasing flow of investments in the automotive components sector. Thereby, making India as key automotive components sourcing hub.

    Additionally, the Union Budget of 2018-2019, proposed an increase in basic custom duty on completely knocked down (CKD) imports of motor vehicles from 10% to 15%; and an increase in minimum support price of all crops to 1.5 times of production cost, which in turn, will aid in rise of farm income, thereby, benefitting the demand for passenger cars, especially for entry-level cars. This, in turn, will support domestic auto component manufacturers, and the passenger car market.

    Gradual Shifting Focus towards Electric Passenger Cars

    Electric car sales in India has decreased during FY 2017-18 as compared to FY 2016-17, witnessing a decline of 66%. In order to boost the sales of electric cars, OEMs have been collaborating with battery technology suppliers to develop long-range cars. Additionally, the Indian government to support electric car sales announced subsidies on the purchase of new electric cars. Currently, Mahindra & Mahindra and Tata offer Electric vehicles for the Indian market. Maruti Suzuki is testing its first EV, the WagonR.

    The Indian government has announced its National Electric Mobility Mission Plan (NEMMP), to support the local manufacturing capabilities of the automakers. With this roadmap, the government of India plans to make electric vehicles economically viable and self-sustaining, by 2020. The government has also announced investments of over INR 13,000 crore for demand incentives, INR 1,800 crore for R&D investments, INR 5,000 crore for power infrastructure, and INR 1,200 crore for charging infrastructure.

    This plan aims at encouraging reliable, affordable, and efficient EVs that can meet consumer performance demand and price expectation. This plan involves government and industry collaboration for the promotion and development of indigenous manufacturing capabilities, consumer awareness, technology, and required infrastructure, thereby, helping the country emerge as a global leader in both electric two-wheeler and four-wheeler market, by 2022.

    The government has decided to take a critical role in supporting the creation of demand and acceptability of EVs, spurring collaborative R&D efforts, and enabling required infrastructures to take its shape. The government has also decided to implement a robust EV demand generating scheme in terms of size and duration to meet the objectives of bridging the gap in the acquisition price of EV, in comparison to the normal IC engine vehicle.

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    Scope of the Report:

    The India passenger car market outlook covers the growing demand for passenger cars in the country, incentives offered by the government for adoption of electric vehicles, emission regulations, developments in the used-car market and market shares of OEMs.

    The market has been segmented by vehicle type and fuel type.

    Highlighted points of India Passenger Car Market Outlook Market Report:

    • Varying dynamics of the India Passenger Car Market Outlook industry.
    • Prospective changes in sales volumes and worldwide share growth in upcoming years
    • India Passenger Car Market Outlook market report recognizes the key drivers of growth and challenges of the key industry players.
    • Competitors profiles along with product description, overview, and business data.
    • Complete analysis of market risks, opportunities, limitations, and growth of the market.
    • Market driving and restraining factors.
    • Delivers information on the historical and current market size and the future potential of the market.
    • India Passenger Car Market Outlook market report provides comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of market.

    Key Benefits of this India Passenger Car Market Outlook Market report:

    • The India Passenger Car Market Outlook market report provides a comprehensive analysis of the current trends and future estimations in the world mining equipment market to identify the potential investment pockets.
    • The India Passenger Car Market Outlook market report presents information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
    • Quantitative analysis of the current trends and forecasts to 2024 is provided to showcase the financial competency of the India Passenger Car Market Outlook market.
    • Porter’s Five Force model of the industry and SWOT analysis illustrate the potency of the buyers & suppliers.
    • Value chain analysis provides a clear understanding of the roles of stakeholders involved.

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    Detailed TOC of India Passenger Car Market Outlook Market Report:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.3 Market Restraints
    4.4 Industry Attractiveness – Porter’s Five Force Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry
    4.5 PESTEL Analysis
    4.6 Government Regulations
    4.6.1 Emission Regulations
    4.7 Aftermarket Scenario
    4.8 Used car Market
    4.9 Car Sharing/Car Rental Market
    4.10 Electric Vehicle Market Scenario

    5 MARKET SEGMENTATION
    5.1 By Vehicle Type
    5.1.1 Hatchback
    5.1.2 Sedan
    5.1.3 SUV & MUV
    5.2 By Fuel Type
    5.2.1 Gasoline
    5.2.2 Diesel
    5.2.3 CNG

    6 COMPETITIVE LANDSCAPE
    6.1 Vendor Market Share
    6.2 Company Profiles
    6.2.1 Automotive Manufacturers
    6.2.1.1 Maruti Suzuki India Ltd.
    6.2.1.2 Hyundai Motor India Ltd.
    6.2.1.3 Mahindra & Mahindra Ltd.
    6.2.1.4 Tata Motors Ltd.
    6.2.1.5 Honda Cars India Ltd.
    6.2.1.6 Toyota Kirloskar Motor Pvt Ltd.
    6.2.1.7 Volkswagen India Pvt Ltd.
    6.2.1.8 Renault India Pvt Ltd.
    6.2.1.9 Nissan Motor India Pvt Ltd.
    6.2.1.10 Skoda Auto India Pvt Ltd.
    6.2.1.11 Ford Motors India
    6.2.2 Automotive Ancillary Manufacturers
    6.2.2.1 Robert Bosch
    6.2.2.2 Samvardhana Motherson Group
    6.2.2.3 Exide Industries Ltd.
    6.2.2.4 WABCO India Ltd.
    6.2.2.5 Sundaram Clayton Ltd
    6.2.2.6 Gabriel India Limited
    6.2.2.7 Bharat Forge Limited
    6.2.2.8 Spark Minda
    6.2.2.9 JBM Group
    6.2.2.10 India Nippon Electricals limited
    6.2.2.11 Mahindra CIE Automotive Ltd.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

    8 DISCLAIMER

    Contact Us:

    Name: Ajay More

    Phone: +44 20 3239 8187 / +14242530807

    Email: [email protected]

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