India Passenger Car Market (2023-2029) | Value, Share, COVID-19 IMPACT, Revenue, Analysis, Size, Companies, Trends, Outlook, Forecast, Industry & Growth

Market Forecast By Type (Hatchback, Sedan, Utility Vehicle), By Fuel Type (Gasoline, Diesel, Others), By Engine Capacity (<1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc), By Propulsion Type (IC Engine, Electric Vehicle) And Competitive Landscape

Product Code: ETC172723 Publication Date: Jul 2023 Updated Date: Jan 2024 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

India Passenger Car Market Highlights

Report Name India Mobile Wallet Market
 Base Year 2022
 Historical Period 2019-2022
 Forecast Period 2023-2029
 Growth rate 3.06%
 Report Coverage Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
 Segment Coverage By Type, By Fuel Type, By Engine Capacity, By Propulsion Type
 Customization Scope 100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com 
 Pricing and Purchase Options Avail customization purchase option to know the exact pricing of your research needs

Topics Covered in India Passenger Car Market Report

India Passenger Car Market report thoroughly covers the market by type, by fuel type, by engine capacity, by propulsion type. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Passenger Car Market Synopsis

India passenger car market is one of the world`s fastest growing markets and this growth will be driven by increasing per capita income and disposable incomes in India as well as rising urbanisation levels. The market will attain prominent growth during the forecast period.

According to 6Wresearch, the India Passenger Car Market size is anticipated to rise at a CAGR of around 3.06% and will reach the volume of US$ 25.4 Billion during 2023–2029. The market is driven by factors like increasing disposable incomes, attractive financing schemes, rising urbanization and favorable demographics. The booming e-commerce industry has also contributed to the growth of the market as it allows customers to compare prices and features of various models. Additionally, technological advancements such as autonomous driving capabilities have made cars a more attractive option for consumers. Furthermore, new government initiatives such as FAME India are expected to further boost the India Passenger Car Market Size over the forecast period. Despite being relatively cheaper than its western counterparts, owning a car still accounts for a significant part of an individual budget due to various taxes imposed on automobiles such as registration fee, road tax etc.; Poor Quality Infrastructure and Traffic Congestion: Poor roads quality coupled with traffic congestion have led to longer travel time which can adversely affect customer experience when travelling via personal vehicle.

COVID-19 Impacts on India Passenger Car Industry

The lockdowns and restrictions during the pandemic led to disruptions in automotive production facilities. A number of manufacturing units had to temporarily shut which affected the supply chain. B The automotive industry of the market relies on a complex global supply chain. Challenges in the supply chain, including shortages of critical components as well as logistical disruptions, led to delays in production which resulted in increased costs. On the back of the economic uncertainty, reduced consumer confidence, as well as lockdown measures, there was a major decline in car sales. Consumers postponed discretionary spending.  With restrictions on dealerships, there was a shift towards online sales channels. Numerous automakers and dealers invested in virtual platforms in order to reach customers and facilitate digital sales. The market faced many challenges but it will grow more in the future as Passenger Car Market Share in 2023 is rising significantly. Even Asia Pacific Passenger Car Market faced challenges during the pandemic.

Passenger Car Market in India: Leading Players

Maruti Suzuki, Tata Motors, Hyundai Motor India Ltd., Mahindra & Mahindra Ltd., Honda Cars India Ltd., Toyota Kirloskar Motor Pvt Ltd., and Ford India Private Limited are some of the most prominent market players and they are projected to attain more success in the future.

India Passenger Car Market: Government Initiatives

The government of India implemented many initiatives in order to support the market and drive sustainable growth in automotive sector. Indian automotive industry analysis 2023 shows that one prominent measure has been the introduction of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme. Under this scheme, incentives are provided to both manufacturers and consumers in order to promote the adoption of electric as well as hybrid vehicles. The government has also taken initiatives to address safety and security concerns by necessitating the implementation of smart safety features. The government has policies to attract foreign direct investment (FDI) and this facilitate the entry of international automakers and motivated the establishment of state-of-the-art manufacturing facilities.

Market by Type

In India, the passenger car market has been dominated by hatchbacks, due to their cost-effectiveness, compact size, as well as fuel efficiency. Sedans have also held a major market share, especially in the mid-range. Utility vehicles, including SUVs and crossovers, have been gaining popularity in recent years owing to changing consumer preferences for larger vehicles.

Market by Fuel Type

On the basis of fuel type, gasoline-powered cars have been the common choice of Indian consumers, primarily owing to the availability of gasoline as well as the lower upfront cost of gasoline cars as compared to their diesel counterparts. Diesel cars, have historically been favored for their higher fuel efficiency, which made them suitable for long-distance travel.

Market by Propulsion Type

On the basis of propulsion, electric segment is projected to dominate the market in the years to come. The government of the country has been taking a number of initiatives to support electric cars; thus, it will dominate the market in the near future.

Key Attractiveness of the Report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2019 to 2022.
  • Base Year: 2022
  • Forecast Data until 2029.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • India Passenger Car Market Outlook
  • Market Size of India Passenger Car Market, 2022
  • Forecast of India Passenger Car Market, 2029
  • Historical Data and Forecast of India Passenger Car Revenues & Volume for the Period 2019 - 2029
  • India Passenger Car Market Trend Evolution
  • India Passenger Car Market Drivers and Challenges
  • India Passenger Car Price Trends
  • India Passenger Car Porter's Five Forces
  • India Passenger Car Industry Life Cycle
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Type for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Hatchback for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Sedan for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Utility Vehicle for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Fuel Type for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Gasoline for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Diesel for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Others for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Engine Capacity for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By <1000 cc for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By <1000-1500 cc for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By <1500-2000 cc for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By >2000 cc for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Propulsion Type for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By IC Engine for the Period 2019 - 2029
  • Historical Data and Forecast of India Passenger Car Market Revenues & Volume By Electric Vehicle for the Period 2019 - 2029
  • India Passenger Car Import Export Trade Statistics
  • Market Opportunity Assessment By Type
  • Market Opportunity Assessment By Fuel Type
  • Market Opportunity Assessment By Engine Capacity
  • Market Opportunity Assessment By Propulsion Type
  • India Passenger Car Top Companies Market Share
  • India Passenger Car Competitive Benchmarking By Technical and Operational Parameters
  • India Passenger Car Company Profiles
  • India Passenger Car Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

  • Hatchback
  • Sedan
  • Utility Vehicle

By Fuel Type

  • Gasoline
  • Diesel
  • Others

By Engine Capacity

  • <1000 Cc
  •  <1000-1500 Cc
  •  <1500-2000 Cc
  •  >2000 Cc

By Propulsion Type

  • IC Engine
  • Electric Vehicle
Frequently Asked Questions About the Market Study (FAQs):
The market is driven by factors like increasing disposable incomes, attractive financing schemes, rising urbanization and favorable demographics.
One prominent measure has been the introduction of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme. Under this scheme. The government has policies to attract foreign direct investment (FDI) and this facilitate the entry of international automakers and motivated the establishment of state-of-the-art manufacturing facilities.
Maruti Suzuki, Tata Motors, Hyundai Motor India Ltd., Mahindra & Mahindra Ltd., Honda Cars India Ltd., Toyota Kirloskar Motor Pvt Ltd., and Ford India Private Limited are some of the most prominent market players.
Segments that are covered in the market report are by type, fuel type, engine capacity, and propulsion type.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 India Passenger Car Market Overview

3.1 India Country Macro Economic Indicators

3.2 India Passenger Car Market Revenues & Volume, 2023 & 2030F

3.3 India Passenger Car Market - Industry Life Cycle

3.4 India Passenger Car Market - Porter's Five Forces

3.5 India Passenger Car Market Revenues & Volume Share, By Type, 2020 & 2030F

3.6 India Passenger Car Market Revenues & Volume Share, By Fuel Type, 2020 & 2030F

3.7 India Passenger Car Market Revenues & Volume Share, By Engine Capacity, 2020 & 2030F

3.8 India Passenger Car Market Revenues & Volume Share, By Propulsion Type, 2020 & 2030F

4 India Passenger Car Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5 India Passenger Car Market Trends

6 India Passenger Car Market, By Types

6.1 India Passenger Car Market, By Type

6.1.1 Overview and Analysis

6.1.2 India Passenger Car Market Revenues & Volume, By Type, 2023 - 2030F

6.1.3 India Passenger Car Market Revenues & Volume, By Hatchback, 2023 - 2030F

6.1.4 India Passenger Car Market Revenues & Volume, By Sedan, 2023 - 2030F

6.1.5 India Passenger Car Market Revenues & Volume, By Utility Vehicle, 2023 - 2030F

6.2 India Passenger Car Market, By Fuel Type

6.2.1 Overview and Analysis

6.2.2 India Passenger Car Market Revenues & Volume, By Gasoline, 2023 - 2030F

6.2.3 India Passenger Car Market Revenues & Volume, By Diesel, 2023 - 2030F

6.2.4 India Passenger Car Market Revenues & Volume, By Others, 2023 - 2030F

6.3 India Passenger Car Market, By Engine Capacity

6.3.1 Overview and Analysis

6.3.2 India Passenger Car Market Revenues & Volume, By <1000 cc, 2023 - 2030F

6.3.3 India Passenger Car Market Revenues & Volume, By <1000-1500 cc, 2023 - 2030F

6.3.4 India Passenger Car Market Revenues & Volume, By <1500-2000 cc, 2023 - 2030F

6.3.5 India Passenger Car Market Revenues & Volume, By >2000 cc, 2023 - 2030F

6.4 India Passenger Car Market, By Propulsion Type

6.4.1 Overview and Analysis

6.4.2 India Passenger Car Market Revenues & Volume, By IC Engine, 2023 - 2030F

6.4.3 India Passenger Car Market Revenues & Volume, By Electric Vehicle, 2023 - 2030F

7 India Passenger Car Market Import-Export Trade Statistics

7.1 India Passenger Car Market Export to Major Countries

7.2 India Passenger Car Market Imports from Major Countries

8 India Passenger Car Market Key Performance Indicators

9 India Passenger Car Market - Opportunity Assessment

9.1 India Passenger Car Market Opportunity Assessment, By Type, 2020 & 2030F

9.2 India Passenger Car Market Opportunity Assessment, By Fuel Type, 2020 & 2030F

9.3 India Passenger Car Market Opportunity Assessment, By Engine Capacity, 2020 & 2030F

9.4 India Passenger Car Market Opportunity Assessment, By Propulsion Type, 2020 & 2030F

10 India Passenger Car Market - Competitive Landscape

10.1 India Passenger Car Market Revenue Share, By Companies, 2023

10.2 India Passenger Car Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

Pricing
  • Single User License
    $ 1,995
  • Department License
    $ 2,400
  • Site License
    $ 3,120
  • Global License
    $ 3,795
6Wresearch Support

Any Query

Call: +91-11-4302-4305
Email us: sales@6wresearch.com
Any Query? Click Here

Related Reports

Industry Events and Analyst Meet

Our Clients

Airtel
Canon
Contec
HoneyWell
Kriloskar
Pwc Logo
Samsung
Tata Teleservices

Whitepaper

Read All