Increasing mining activities
and government projects such as Pradhan Mantri Grameen Sadak Yojana to drive India
tipper truck market through 2024
According
to TechSci Research report, “India
Tipper Truck Market By
Vehicle Type, By Tonnage Capacity, By End-Use Industry, By Region, By Company, Competition,
Forecast & Opportunities, 2014 – 2024”, India tipper truck market is
projected to grow during the forecast period, on account of increasing number
of infrastructure and construction projects across the country. Major
construction projects such as Navi Mumbai International Airport (NMIA) and Gujarat
International Finance Tec-City (GIFT) are in the development phase and would
boost demand for tipper trucks. Rising need to transport materials such as garbage
for solid waste management and clay and fuel ash materials in cement industry,
in addition to increasing demand for logistics services, is expected to fuel
the country’s tipper truck market.
Moreover, strict regulatory norms related to vehicle
length and higher budgetary allocation towards infrastructure and rural sectors
are expected to positively influence the market. Annual demand for tipper
trucks stands at 60,000 units in India and this number is anticipated to
increase in the coming years.
On the basis of tonnage capacity, the 16 Ton &
above segment is the preferred choice among consumers, as tipper trucks with
higher capacity are capable of moving materials in less time with minimum
rounds of pick up and drop. In terms of end-use industry, infrastructure and
mining are the major segments, backed by huge mining activities in states such
as Jharkhand, Karnataka and Andhra Pradesh. Domestic coal production grew 9.8%
in the first three quarters of 2018 and the government has allocated new 85
coal mines so far under the provisions of the Coal Mines (Special Provisions)
Act, 2015. Additionally, India is planning a 10-fold increase in uranium
production in the next 10 years due to high demand for power generation. All
these factors would provide lucrative growth opportunities to players operating
in India tipper truck market.
Customers
can also request for 10% free customization on this report.
Prominent automotive tipper truck giants such
as Ashok Leyland Limited, Mahindra & Mahindra Limited, Eicher Motors
Limited, SML Isuzu Limited and Asia Motor Works Limited are expanding their
product offerings. New tipper truck models with BS IV regulations have been
launched by Ashok Leyland, while AMW Motors is in the process of launching
powerful, ergonomic and efficient trucks in the market. Moreover, Bharat Benz
is launching new range of tipper trucks to meet the new BS-IV emission
standards at the competitive price level of brand’s earlier BS III trucks.
“Various upcoming infrastructure projects coupled with
rising government expenditure towards mining and construction sectors would
boost India tipper truck market during the forecast period. Moreover, emergence
of fuel-efficient tipper trucks keeping in view rising pollution levels is
likely to push the demand for these trucks across the country. As tipper truck
manufacturers are focusing on the development of tipper trucks with lower cost
and higher efficiency, tipper truck market is expected to register significant
growth in India in coming years.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“India Tipper Truck Market By Vehicle Type, By Tonnage Capacity, By End-use
Industry, By Region, By Company, Competition, Forecast & Opportunities, 2014
– 2024” has
evaluated the future growth potential of India tipper truck market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India tipper truck market.
- Global Tipper Truck Market, By Vehicle Type (Small, Medium and Large Tipper Trucks), By Size (4-Wheeler Rigid Tipper, etc.), By Application (Construction, Transportation, Mining, Others), By Company and By Geography, Forecast & Opportunities, 2013–2023:https://www.techsciresearch.com/report/global-tipper-truck-market-by-vehicle-type-small-medium-and-large-tipper-trucks-by-size-4-wheeler-rigid-tipper-etc-by-application-construction-transportation-mining-others-by-company-and-by-geography-forecast-opportunities/1071.html
- Asia-Pacific Tipper Truck Market By Vehicle Type (Medium, Small & Large Tipper Truck), By Size (6-Wheeler Rigid Tipper, 4-Wheeler Rigid Tipper, etc), By Application (Construction & Mining), By Country, Competition Forecast & Opportunities, 2013-2023:https://www.techsciresearch.com/report/asia-pacific-tipper-truck-market/3326.html
- Global Truck Market By Application (Construction, Logistics, & Mining), By Tonnage Capacity (3.5-7.5 Tons, 7.5-16 Tons, 16-30 Tons & Others), By Fuel Type (Diesel, CNG & LNG, & Others), By Region, Competition Forecast & Opportunities, 2012 –2022: https://www.techsciresearch.com/report/global-truck-market/1790.html
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