Wednesday, 6 March 2019

Van Market to Surpass $ 164 Billion by 2023: TechSci Research


Growth of e-commerce and logistics industry, rising tourism along with growing small-scale businesses to drive global van market through 2023

According to TechSci Research report, “Global Van Market By Tonnage Capacity, By Fuel Type, By End Use, By Region, Competition Forecast & Opportunities, 2013 - 2023”, the global van market is projected to cross $ 164 billion by 2023 on account of growing e-commerce and logistics sectors across developed as well as developing economies. Moreover, major automotive companies are focusing on expanding their production facilities in the coming years, which is further likely to positively influence global van market during the forecast period. Additionally, rising number of medium and small enterprises would further steer growth in the global van market during forecast period.
Browse 254 market data Figures and Table spread through 256 Pages and an in-depth TOC on "Global Van Market" https://www.techsciresearch.com/report/vans-market/3143.html
In 2017, vans with up to 2 ton capacity dominated the global van market with a majority volume share, and the segment is likely to remain the largest through 2023. Up to 2 ton segment is followed by 2 to 3 ton and 3 to 5.5 ton product segments. The dominance of up to 2 ton segment is led by their major use in various sectors, including logistics, hotel and retail industry for transportation of food and other goods. Among regions, van market is largely concentrated in Asia-Pacific region owing to region’s high population and rising trade activities.
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Increasing presence and focus of various major global automotive players such as FORD Motor Company, Volkswagen AG, Mercedes-Benz, FCA Italy S.p.A., Renault SA., Groupe PSA, General Motor Company, Toy, etc., on the global van market is anticipated to intensify market competition over the next five years. “Rising inclination of people towards online shopping, globally, coupled with increasing tourism and infrastructural development across major global economies is pushing demand for vans across the globe. Moreover, rising focus on vans running on alternate fuels and emergence of vans with smart features, is further anticipated to steer growth in the global van market over the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Van Market By Tonnage Capacity, By Fuel Type, By End Use, By Region, Competition Forecast & Opportunities, 2013 - 2023” has analyzed the potential of global van market across the world, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by global van market.

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About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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New York – 10017
Tel: +1-646-360-1656

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Friday, 1 March 2019

Growing Infrastructure Sector to Push India Tipper Truck Market till 2024


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.

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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.

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About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656

Email: sales@techsciresearch.com

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