India - Trucks - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTruck Price in India - 2023
Contents:
- Truck Price in India (FOB) - 2023
- Truck Price in India (CIF) - 2023
- Truck Exports in India
- Truck Imports in India
Truck Price in India (FOB) - 2023
In July 2023, the average truck export price amounted to $38,685 per unit, with an increase of 27% against the previous month. In general, the export price, however, continues to indicate a noticeable downturn. Over the period under review, the average export prices reached the maximum at $53,939 per unit in July 2022; however, from August 2022 to July 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was Mexico ($99,447 per unit), while the average price for exports to Saudi Arabia ($26,891 per unit) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.
Truck Price in India (CIF) - 2023
The average truck import price stood at $162K per unit in July 2023, with a decrease of -5.1% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in December 2022 when the average import price increased by 114% month-to-month. The import price peaked at $170K per unit in June 2023, and then dropped in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($248K per unit), while the price for the United Arab Emirates ($30,759 per unit) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Bangladesh (+19.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Truck Exports in India
Truck exports from India skyrocketed to 29K units in 2022, surging by 28% on the previous year. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 98%. The exports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, truck exports expanded rapidly to $1.1B in 2022. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 117% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.
Export of Truck in India (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Saudi Arabia | 9.8 | 54.8 | 139 | 257 | 197.1% |
Bangladesh | 163 | 111 | 183 | 148 | -3.2% |
South Africa | 38.4 | 31.2 | 92.4 | 139 | 53.5% |
Indonesia | 12.0 | 4.5 | 44.6 | 83.7 | 91.1% |
Nepal | 117 | 48.1 | 149 | 69.6 | -15.9% |
Mexico | 0.6 | 6.0 | 13.1 | 52.3 | 343.4% |
Morocco | 0.4 | 0.6 | 7.5 | 29.8 | 320.8% |
Australia | 0.9 | 1.9 | 5.7 | 24.7 | 201.6% |
Bhutan | 28.7 | 9.7 | 29.5 | 20.2 | -11.0% |
Vietnam | 5.1 | 13.7 | 13.3 | 18.3 | 53.1% |
Mozambique | 20.0 | 10.6 | 19.7 | 15.9 | -7.4% |
United Arab Emirates | 37.6 | 44.5 | 16.9 | 8.8 | -38.4% |
Sri Lanka | 39.5 | 5.4 | 18.0 | 6.1 | -46.3% |
Others | 158 | 123 | 274 | 244 | 15.6% |
Total | 631 | 465 | 1,006 | 1,118 | 21.0% |
Top Export Markets for Truck from India in 2022:
- Saudi Arabia (9.9K units)
- South Africa (4.3K units)
- Bangladesh (3.1K units)
- Nepal (1.4K units)
- Australia (1.0K units)
- Indonesia (0.7K units)
- Mexico (0.7K units)
- Bhutan (0.6K units)
- Morocco (0.6K units)
- Vietnam (0.6K units)
- Mozambique (0.6K units)
- United Arab Emirates (0.2K units)
- Sri Lanka (0.1K units)
Truck Imports in India
Truck imports into India contracted markedly to 73 units in 2022, which is down by -38.7% against the previous year's figure. Overall, imports continue to indicate a precipitous setback. The growth pace was the most rapid in 2021 with an increase of 21%. Imports peaked at 337 units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, truck imports declined significantly to $10M in 2022. In general, imports recorded a precipitous setback. The most prominent rate of growth was recorded in 2021 with an increase of 117%. Imports peaked at $38M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
Import of Truck in India (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Netherlands | N/A | 1.2 | 13.7 | 6.1 | 125.5% |
China | N/A | 0.2 | 0.2 | 0.8 | 100.0% |
Thailand | 0.1 | 0.3 | 0.1 | 0.6 | 81.7% |
United Kingdom | 3.4 | N/A | N/A | 0.5 | -47.2% |
United States | 0.2 | 2.0 | 0.3 | 0.4 | 26.0% |
South Korea | N/A | N/A | N/A | 0.4 | 0% |
Bhutan | N/A | N/A | 1.9 | 0.3 | -84.2% |
United Arab Emirates | 1.0 | 1.0 | 0.3 | 0.2 | -41.5% |
Mexico | N/A | N/A | N/A | 0.1 | 0% |
Haiti | 0.8 | N/A | N/A | N/A | 0% |
Democratic Republic of the Congo | 0.4 | N/A | N/A | N/A | 0% |
Finland | 8.3 | 2.1 | N/A | N/A | -74.7% |
Brazil | 22.3 | N/A | N/A | N/A | 0% |
Others | 1.4 | 1.0 | 0.5 | 0.5 | -29.1% |
Total | 37.9 | 7.8 | 17.0 | 10.0 | -35.9% |
Top Suppliers of Truck to India in 2022:
- Netherlands (27.0 units)
- United States (8.0 units)
- Thailand (8.0 units)
- United Arab Emirates (7.0 units)
- China (6.0 units)
- South Korea (6.0 units)
- Mexico (3.0 units)
- United Kingdom (2.0 units)
- Bhutan (1.0 units)
This report provides an in-depth analysis of the truck market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 29104110 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight . 5 tonnes (excluding dumpers for off-highway use)
- Prodcom 29104130 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight > 5 tonnes but . .20 tonnes (including vans) (excluding dumpers for off-highway use, tractors)
- Prodcom 29104140 - Goods vehicles with compression-ignition internal combustion piston engine (diesel or semi-diesel), of a gross vehicle weight > .20 tonnes (excluding dumpers designed for offhighway use)
- Prodcom 29104200 - Goods vehicles, with spark-ignition internal combustion piston engine, other goods vehicles, new
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Explore the top import markets for trucks in 2023, including the United States, Canada, Germany, and more. Find out what drives the demand for trucks in these key countries.
Global truck imports stood at X tons in 2016, dropping by -X% against the previous year figure. Overall, truck imports continue to indicate a measured curtailment. The pace of growth appeared th...
Global truck imports stood at X tons in 2016, dropping by -X% against the previous year figure. Overall, truck imports continue to indicate a measured curtailment. The pace of growth appeared th...
Explore the top import markets for trucks in 2023, including the United States, Canada, Germany, and more. Find out what drives the demand for trucks in these key countries.
Global truck imports stood at X tons in 2016, dropping by -X% against the previous year figure. Overall, truck imports continue to indicate a measured curtailment. The pace of growth appeared th...
Global truck imports stood at X tons in 2016, dropping by -X% against the previous year figure. Overall, truck imports continue to indicate a measured curtailment. The pace of growth appeared th...