India’s Passenger Car Market is estimated to be USD 65.1 Bn in 2023 and is expected to reach USD 102.11 Bn by 2028, growing at a CAGR of 9.45%.
The government's numerous incentives and rebate programs are increasing the demand for battery electric cars nationwide
Market DynamicsMarket dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.
Market SegmentationsIndia’s Passanger Car Market is segmented based on Vehicle Type, Fuel Type, and End-User.
- By Vehicle Type, the market is classified into Hatchback, Sedan, Sports Utility Vehicle, and Multi-purpose Vehicle.
- By Fuel Type, the market is classified into Petrol, Diesel, Electric, CNG, and Others.
- By End-User, the market is classified into Personal, and Commercial.
Company ProfilesThe report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are BMW Ag, Ferrari S.P.A, Honda Motor Company, Mercedes-Benz Group Ag, Volkswagen Group etc.
Competitive QuadrantThe report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff AnalysisThe report presents a detailed Ansoff matrix analysis for India’s Passanger Car Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
India's Research analyses India’s Passanger Car Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, India's Research has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of India’s Passanger Car Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the Indian Passanger Car Market
What is the estimated value of the Indian Passanger Car Market?
The Indian Passanger Car Market was estimated to be valued at $65.01 Billion in 2023.
What is the growth rate of the Indian Passanger Car Market?
The growth rate of the Indian Passanger Car Market is 9.4%, with an estimated value of $102.11 Billion by 2028.
What is the forecasted size of the Indian Passanger Car Market?
The Indian Passanger Car Market is estimated to be worth $102.11 Billion by 2028.
Who are the key companies in the Indian Passanger Car Market?
Key companies in the Indian Passanger Car Market include BMW Ag, BYD Auto Co., Ltd., Chevrolet, Ferrari S.P.A, Ford Motor Company, Honda Motor Co. Ltd., Hyundai Motor Company, Mahindra & Mahindra Ltd. and Mercedes.
|No. of Pages||203|
|Forecast Period||2023 - 2028|
| Estimated Market Value ( USD ||$ 65.01 Billion|
| Forecasted Market Value ( USD ||$ 102.11 Billion|
|Compound Annual Growth Rate||9.4%|
|No. of Companies Mentioned||16|
Table of Contents1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.4 Years Considered
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Analyst Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.2 Market Size, Segmentations and Outlook
4 Market Dynamics
4.1.1 Growing Demand for Electric Vehicles with Rising Awareness of Emission Control
4.1.2 Rising Demand for Luxury & Premium Vehicles
4.2.1 Increase for the Average Vehicle Age
4.2.2 Increase in Adoption on Public Transport
4.3.1 Focus on Fully Autonomous Vehicles
4.3.2 Technological Advancements in Passenger Cars
4.4.1 Semiconductor Shortage and Fluctuating Prices of Raw Materials
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of COVID-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis
6 India’s Passanger Car Market, By Vehicle Type
6.4 Sports Utility Vehicle
6.5 Multi-purpose Vehicle
7 India’s Passanger Car Market, By Fuel Type
7.6 Others (Hydrogen)
8 India’s Passanger Car Market, By End-User
9 Competitive Landscape
9.1 Competitive Quadrant
9.2 Market Share Analysis
9.3 Strategic Initiatives
9.3.1 M&A and Investments
9.3.2 Partnerships and Collaborations
9.3.3 Product Developments and Improvements
10 Company Profiles
10.1 BMW Ag
10.2 BYD Auto Co., Ltd.
10.4 Ferrari S.P.A
10.5 Ford Motor Company
10.6 Honda Motor Co. Ltd.
10.7 Hyundai Motor Company
10.8 Mahindra & Mahindra Ltd.
10.9 Maruti Suzuki India Ltd.
10.10 Mercedes-Benz Group Ag
10.11 Mitsubishi Motors Corp.
10.12 Nissan Motor Co. Ltd
10.13 Tata Motors Limited
10.14 Tesla, Inc
10.15 Toyota Motor Corporation
10.16 Volkswagen Group
- BMW Ag
- BYD Auto Co., Ltd.
- Ferrari S.P.A
- Ford Motor Company
- Honda Motor Co. Ltd.
- Hyundai Motor Company
- Mahindra & Mahindra Ltd.
- Maruti Suzuki India Ltd.
- Mercedes-Benz Group Ag
- Mitsubishi Motors Corp.
- Nissan Motor Co. Ltd
- Tata Motors Limited
- Tesla, Inc
- Toyota Motor Corporation
- Volkswagen Group