India Commercial Vehicles Market to Grow at CAGR

7 to 8 % till 2021
According to techsci research report, “india commercial vehicles market by vehicle type, by end use
industry, competition forecast and opportunities, 2021’’, the commercial vehicles market of india is
projected to grow at a CAGR of over 7 to 8 %, in value terms, over the course of next five years On the
basis of gross vehicle weight, the commercial vehicles market is broadly segmented into Three Types
light commercial vehicles

 Medium Commercial Vehicles (Mcvs)

 Heavy Commercial Vehicles (Hcvs)
 Light Commercial Vehicles (Lcvs)

MCV & HCV : Mcvs and Hcvs market is expected to be driven primarily by implementation of
proposed infrastructure projects and revival of construction and mining sectors.

LCV : Important factors driving light commercial vehicle sales include rise in passenger transportation
on account of continuing growth in tourism and hospitality sector.

Sensitivity: General
Automobile Domestic Sales Analysis (April 2013 to March 2019)

Category 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19

Passenger Vehicles 25,03,509 26,01,236 27,89,208 30,47,582 32,88,581 33,77,436

Commercial Vehicles 6,32,851 6,14,948 6,85,704 7,14,082 8,56,916 10,07,319

Three Wheelers 4,80,085 5,32,626 5,38,208 5,11,879 6,35,698 7,01,011

Grand Total

Sensitivity: General