The Indian automobile market has been consistently growing at a fast rate for past few years on the back of growing domestic demand, increasing working population and high disposable income. The two wheeler segment, in particular, has witnessed the highest growth rate of over 32% CAGR in the recent past and is estimated to follow the same trend in the future, says our new research report, “Indian Automobile Sector – A Booming Market”.
We have found that the motorcycle segment has shown outstanding performance and is expected to drive the overall market with a projected CAGR of around 18% for FY 2010-2014. In this regard, we have done thorough analysis of various factors fueling growth in this market. Our research also reveals that with such high growth projections, key industry players like Bajaj Auto Ltd and Hero Honda are planning to increase their investment in the segment in a move to meet up with growing demand in near future.
A Senior Research Analyst at RNCOS states that much of the demand in this segment will stem from rural India. It is expected that the untapped rural market and rapidly expanding automotive design market will provide growth opportunities to the industry players in near future. Apart from motorcycle, the scooter/scooterette segment is taking giant steps forward in the country. The segment currently accounts for just over 15% share in the two wheeler market and is projected to grow drastically in future.
“Indian Automobile Sector – A Booming Market” is an extensive research and objective analysis of the growing automobile market in India. The report also provides complete industry overview, including discussion on roadblocks for the industry and supporting factors, to help clients to understand its structure. We have also included segments such as auto component industry, competitive landscape, future growth areas and future outlook in terms of turnover, sales and export. We have thoroughly analyzed the current trends in production, sales and export of various segments along with future outlook.
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About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
