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Market share forecast of trucks in India 2026, by company

Market share forecast of trucks in India in 2026, by company

by Statista Research Department, last edited Sep 5, 2019
Market share forecast of trucks in India 2026, by company The heavy truck segment is a cyclical business. The sector grows after experiencing a gradual decline every few years. The previous sales peak across India was recorded in fiscal year 2013, followed by a gradual decrease in the subsequent years. In 2026, the truck market was estimated to be dominated by Tata Motors, with a share of more than 50 percent across the south Asian country.
Heavy trucks in use

In 2016, there were over five million registered multi-axle vehicles across the nation. A lot of freight movement is carried out through road transport within the country. Over two trillion metric tons of freight was transported through roads in 2016. Trends in the freight demand also affect the heavy truck industry. An estimated lubricant volume of 280 million liters was used in new trucks production and over four million heavy trucks were projected to be produced in 2018.

Future outlook

Market contraction in the automotive sector has affected the heavy truck industry as well. The trucks used for the bulk transport of cars lay idle and the sales of medium and heavy-duty trucks declined by almost 20 percent in 2019. Tight liquidity conditions have affected the lending of trucks. The implementation of the sixth stage emission norms in April 2020 might also affect the vehicle prices. However, adapted vehicle technologies can boost sales in the post-implementation stage.
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Market share forecast of trucks in India in 2026, by company

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