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Indian Passenger Vehicle Market Outlook, 2020

  • ID: 5013104
  • Report
  • March 2020
  • Region: India
  • 125 Pages
  • Frost & Sullivan

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Sales Decline by 9.1% and Reach 3.0 Million Units in FY 2020, Owing to BS-VI Implementation and Weak Buying Sentiments

FEATURED COMPANIES

  • Glyd
  • Hyundai Motor
  • Mahindra and Mahindra Ltd
  • Revv
  • MORE

Domestic sales in the Indian Passenger Vehicle (PV) market declined by 9.1% to reach 3 million units in FY 2020. The study estimates the market size of the Indian PV market, as well as segment forecasts up to 2024, with due consideration for the various factors driving and restraining its growth. The segmental shifts in the PV market in India are evident from the greater number of participants and available models in the hatchback and the UV segments. The disparity within the segments is also clear in the shifting segmental share within the market. Naturally, the competition among market participants has intensified in these growing and popular segments (e.g., UVs). The competitive scenario is expected to be further impacted by the entry of new participants in the market from 2021. However, more than 50% of the market share remains with a single OEM. The market has also witnessed rapid growth and the increasing popularity of a few companies, with their well-received new product launches in 2018-2019 and a greater focus on rural segments.

This research entails the latest trends in the Indian PV market. The electric vehicles market in the country is gaining traction with the entry of new market participants and government incentives. Cars eRetailing and digitalization trends have been major disrupters in 2020. A move toward active safety features is another key trend witnessed in the market. Airbag and sensor penetration is increasing incrementally across all vehicle segments, and the next logical step toward driver and passenger safety in India is expected to be active safety features. Ride-hailing and ride-sharing service categories are highly competitive in India, with a few participants having the biggest market shares and new participants entering the segment with innovative offerings and OEM tie-ups.

The study also focuses on regional trends, such as diesel decline, electrification, and other technological trends (e.g., connected cars). From a connectivity perspective, OEMs are introducing safety and security offerings through connectivity and differentiating their car models by providing better infotainment systems. Furthermore, the PV market in India is expected to witness increased diffusion of automotive transmission technologies such as Automatic Manual Transmission (AMT), Continuous Variable Transmission (CVT), Dual-clutch Transmission (DCT), and Stepped-Automatic Transmission (S-AT). Out of these, certain transmission technologies are expected to see higher diffusion than others, due to OEM interest and affordability. The study analyzes key market drivers and restraints and concludes with the key strategic imperatives for growth and success in the market.

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Glyd
  • Hyundai Motor
  • Mahindra and Mahindra Ltd
  • Revv
  • MORE

1. Executive Summary

  • Market Highlights - 2019
  • PV Market Trends
  • Performance of PV Companies in 2019
  • Top 6 Takeaways of 2019
  • Top 3 Predictions for the PV Market
  • Domestic Sales Forecast - Scenario Analysis
  • Global LV Sales by Region in 2019 and 2020 - Snapshot

2. Research Scope and Segmentation

  • Research Scope
  • Research Aims and Objectives
  • Key Questions This Study Will Answer
  • Research Methodology
  • Vehicle Segmentation
  • PV Classifications, Definitions, and Key Models

3. Global Economic Outlook

  • Global Economy in 2019 - Top Trends
  • Global Economic Outlook 2020 - Top Predictions
  • 2020 World GDP Growth Snapshot
  • Advanced Economies - Key Predictions for 2020
  • Emerging Economies - Key Predictions for 2020
  • World’s 20 Fastest-Growing Economies in 2018 and 2019
  • India - Ease of Doing Business Index
  • India - Millennials and Gen-Z Population

4. Indian PV Market Overview

  • PV Market Trends
  • PV Segment Trends
  • Performance of PV Companies in 2019
  • Top-selling PV Models

5. Segmental Analysis of the PV Market in India

  • Hatchback Segment
  • Sedans Segment
  • UV Segment
  • Van Segment

6. Profiles of Top-3 OEMs

  • Maruti Suzuki India Limited
  • Hyundai Motor
  • Mahindra and Mahindra Ltd

7. Key Trends to Watch - Passenger Vehicle Market, India

  • Key Trends Impacting the Passenger Vehicle Market in India
  • Trend 1 - Growth of the UV Segment in India
  • Trend 2 - Decline of Diesel-powered Cars
  • Trend 3 - Growth of the Used Car Market in India
  • Trend 4 - Growth of Electric Vehicles in India
  • Trend 5 - Revenue From Downstream Services
  • Trend 6 - Penetration of Advanced Infotainment Systems in Cars
  • —Trend 7 - Growth of Automatic Transmission in Cars
  • Trend 8 - Increasing Importance of Safety in Indian Cars
  • Trend 9 - Digitization in the Indian PV Market
  • Trend 10 - Mobility as a Service: Indian New Mobility Market
  • Trend 10 - Mobility as a Service: eHailing Market Growth in India
  • Trend 10 - Mobility as a Service Case Study: Revv
  • Trend 11 - Growing Aftermarket Customer Retention Strategies by OEMs
  • Trend 12 - Key Partnerships in the Indian Passenger Car Ecosystem
  • Trend 13 - Development of Modular Vehicle Platforms

8. Indian Electric Vehicle Market Outlook

  • ePassenger Car Outlook in India
  • Growth of Electric Vehicles in India
  • Current EV Charging Stations in India - An Overview
  • Market Size of the EV Component Industry in 2025

9. The Indian Start-up Scenario

  • Overview of Startups in the Indian Automotive space
  • OEM Offerings in the Shared Mobility Space Case Study - Glyd

10. Legislative Trends in the Indian PV Market

  • Evolution of BS Norms in India
  • BS-IV to BS-VI Transformation - Reduction in Emission Caps
  • Bharat New Vehicle Safety Assessment Program (BNVSAP)

11. Indian PV Market - Future Outlook

  • Domestic Sales Forecast - Scenario Analysis
  • Factors Impacting the PV Market in India

12. Growth Opportunities and Companies to Action

  • Growth Opportunity 1 - M&A, JVs in the Electric Ecosystem
  • Strategic Imperatives for Success and Growth

13. Conclusions and Future Outlook

  • Key Conclusions and Future Outlook
  • Top 3 Predictions for the PV Market
  • Legal Disclaimer

14. Appendix

  • List of Abbreviations
  • Market Engineering Methodology
  • List of Exhibits
Note: Product cover images may vary from those shown
  • Glyd
  • Hyundai Motor
  • Mahindra and Mahindra Ltd
  • Maruti Suzuki India Limited
  • Revv
Note: Product cover images may vary from those shown
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