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 increasing popularity of a few companies, with their well-received new product launches in 2018–2019 and 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.
Market Highlights—2019
Market Highlights—2019 (continued)
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
Research Scope
Research Aims and Objectives
Key Questions This Study Will Answer
Research Methodology
Vehicle Segmentation
PV Classifications, Definitions, and Key Models
PV Classifications, Definitions, and Key Models (continued)
Global Economy in 2019—Top Trends
Global Economic Outlook 2020—Top Predictions
Global Economic Outlook 2020—Top Predictions (continued)
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
PV Market Trends
PV Segment Trends
Performance of PV Companies in 2019
Top-selling PV Models
Hatchback Segment
Sedans Segment
UV Segment
Van Segment
Maruti Suzuki India Limited
Maruti Suzuki India Limited (continued)
Hyundai Motor
Hyundai Motor (continued)
Mahindra and Mahindra Ltd
Mahindra and Mahindra Ltd (continued)
Key Trends Impacting the Passenger Vehicle Market in India
Trend 1—Growth of the UV Segment in India
Trend 1—Growth of the UV Segment in India (continued)
Trend 2—Decline of Diesel-powered Cars
Trend 2—Decline of Diesel-powered Cars (continued)
Trend 2—Decline of Diesel-powered Cars (continued)
Trend 3—Growth of the Used Car Market in India
Trend 3—Growth of the Used Car Market in India (continued)
Growth of Electric Vehicles in India
Trend 5—Revenue From Downstream Services
Trend 6—Penetration of Advanced Infotainment Systems in Cars
Trend 6—Penetration of Advanced Infotainment Systems in Cars (continued)
Trend 6—Penetration of Advanced Infotainment Systems in Cars (continued)
Trend 6—Penetration of Advanced Infotainment Systems in Cars (continued)
Trend 6—Penetration of Advanced Infotainment Systems in Cars (continued)
Trend 6—Penetration of Advanced Infotainment Systems in Cars (continued)
Trend 7—Growth of Automatic Transmission in Cars
Trend 7—Growth of Automatic Transmission in Cars (continued)
Trend 7—Growth of Automatic Transmission in Cars (continued)
Trend 8—Increasing Importance of Safety in Indian Cars
Trend 8—Increasing Importance of Safety in Indian Cars (continued)
Trend 9—Digitization in the Indian PV Market
Trend 9—Digitization in the Indian PV Market (continued)
Trend 9—Digitization in the Indian PV Market (continued)
Trend 9—Digitization in the Indian PV Market (continued)
Trend 9—Digitization in the Indian PV Market (continued)
Trend 10—Mobility as a Service: Indian New Mobility Market
Trend 10—Mobility as a Service
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
Trend 13—Development of Modular Vehicle Platforms (continued)
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
Overview of Startups in the Indian Automotive space
OEM Offerings in the Shared Mobility Space Case Study—Glyd
Evolution of BS Norms in India
BS-IV to BS-VI Transformation—Reduction in Emission Caps
Bharat New Vehicle Safety Assessment Program (BNVSAP)
Domestic Sales Forecast—Scenario Analysis
Factors Impacting the PV Market in India
Growth Opportunity 1—M&A, JVs in the Electric Ecosystem
Strategic Imperatives for Success and Growth
Key Conclusions and Future Outlook
Top 3 Predictions for the PV Market
Legal Disclaimer
List of Abbreviations
List of Abbreviations (continued)
Market Engineering Methodology
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
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| Deliverable Type | Market Outlook |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Anjana Venkataraman |
| Industries | Automotive |
| WIP Number | ME38-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9800-A6,9A70-A6,9AF6-A6,9B13-A6 |
Indian Passenger Vehicle Market Outlook, 2020
Sales Decline by 9.1% and Reach 3.0 Million Units in FY 2020, Owing to BS-VI Implementation and Weak Buying Sentiments
25-Mar-2020
South Asia, Middle East & North Africa
Market Outlook