PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1649552
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1649552
India Passengers Vehicle Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025 - 2032)
The Indian passenger vehicle market is experiencing robust growth, with revenues projected to reach $38.8 billion in 2024 and anticipated to expand at a compound annual growth rate (CAGR) of 12.1% from 2025 to 2032, ultimately reaching $96.0 billion by 2032. This expansion is driven by economic growth, increasing disposable incomes, and a growing middle-class population seeking reliable transportation solutions.
Key Insights
The compact car segment holds a significant market share, attributed to its affordability and suitability for urban commuting. However, the sport utility vehicle (SUV) segment is witnessing rapid growth due to consumer preferences for spacious and versatile vehicles.
Petrol-powered vehicles dominate the market, but there is a notable shift toward electric vehicles (EVs), driven by environmental concerns and government incentives promoting sustainable transportation.
North India leads in market size, while West India is the fastest-growing region, reflecting regional economic activities and consumer preferences.
The market is fragmented, with numerous domestic and international players competing across various vehicle segments to cater to diverse consumer needs.
Personal use remains the largest application category, driven by the need for private transportation solutions among the expanding middle class.
The integration of advanced driver assistance systems (ADAS), enhanced infotainment features, and improved safety technologies is becoming a standard in new passenger vehicles, enhancing the overall driving experience.
Key players in the Indian passenger vehicle market include Maruti Suzuki India Limited, Hyundai Motor Company, Tata Motors Limited, Mahindra & Mahindra Ltd., and Honda Motor Co. Ltd. These companies are focusing on expanding their product portfolios, investing in EV technology, and enhancing their distribution networks to strengthen their market positions.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market Size Breakdown, by Type
- 1.4.2. Market Size Breakdown, by Body
- 1.4.3. Market Size Breakdown, by Application
- 1.4.4. Market Size Breakdown, by Fuel Type
- 1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Revenue
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence Database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Industry Background
- 5.2. Market Dynamics
- 5.2.1. Trends
- 5.2.2. Drivers
- 5.2.3. Restraints/Challenges
- 5.2.4. Emerging Economies and Key Opportunities
- 5.2.5. Impact Analysis of Drivers/Restraints
- 5.3. Impact of COVID-19
- 5.4. Sociopolitical Impact
- 5.5. Porter's Five Forces Analysis
- 5.5.1. Bargaining Power of Buyers
- 5.5.2. Bargaining Power of Suppliers
- 5.5.3. Threat of New Entrants
- 5.5.4. Intensity of Rivalry
- 5.5.5. Threat of Substitutes
- 5.6. Innovation and Technology Trends
- 5.7. Economic and Regulatory Impact
- 5.8. Market Entry Strategies
Chapter 6. Competitive Landscape
- 6.1. List of Market Players and their Offerings
- 6.2. Market Share of Key Players (2024)
- 6.3. Competitive Benchmarking of Key Players
- 6.4. Product Benchmarking of Key Players
- 6.5. Recent Strategic Developments by Key Players
- 6.6. Company Leadership Matrix
Chapter 7. South India Market
- 7.1. Overview
- 7.2. Market Volume, by Type (2019-2032)
- 7.3. Market Revenue, by Type (2019-2032)
- 7.4. Market Volume, by Body (2019-2032)
- 7.5. Market Revenue, by Body (2019-2032)
- 7.6. Market Volume, by Application (2019-2032)
- 7.7. Market Revenue, by Application (2019-2032)
- 7.8. Market Volume, by Fuel Type (2019-2032)
- 7.9. Market Revenue, by Fuel Type (2019-2032)
- 7.10. Market Volume, by Country (2019-2032)
- 7.11. Market Revenue, by Country (2019-2032)
Chapter 8. North India Market
- 8.1. Overview
- 8.2. Market Volume, by Type (2019-2032)
- 8.3. Market Revenue, by Type (2019-2032)
- 8.4. Market Volume, by Body (2019-2032)
- 8.5. Market Revenue, by Body (2019-2032)
- 8.6. Market Volume, by Application (2019-2032)
- 8.7. Market Revenue, by Application (2019-2032)
- 8.8. Market Volume, by Fuel Type (2019-2032)
- 8.9. Market Revenue, by Fuel Type (2019-2032)
- 8.10. Market Volume, by Country (2019-2032)
- 8.11. Market Revenue, by Country (2019-2032)
Chapter 9. West India Market
- 9.1. Overview
- 9.2. Market Volume, by Type (2019-2032)
- 9.3. Market Revenue, by Type (2019-2032)
- 9.4. Market Volume, by Body (2019-2032)
- 9.5. Market Revenue, by Body (2019-2032)
- 9.6. Market Volume, by Application (2019-2032)
- 9.7. Market Revenue, by Application (2019-2032)
- 9.8. Market Volume, by Fuel Type (2019-2032)
- 9.9. Market Revenue, by Fuel Type (2019-2032)
- 9.10. Market Volume, by Country (2019-2032)
- 9.11. Market Revenue, by Country (2019-2032)
Chapter 10. East India Market
- 10.1. Overview
- 10.2. Market Volume, by Type (2019-2032)
- 10.3. Market Revenue, by Type (2019-2032)
- 10.4. Market Volume, by Body (2019-2032)
- 10.5. Market Revenue, by Body (2019-2032)
- 10.6. Market Volume, by Application (2019-2032)
- 10.7. Market Revenue, by Application (2019-2032)
- 10.8. Market Volume, by Fuel Type (2019-2032)
- 10.9. Market Revenue, by Fuel Type (2019-2032)
- 10.10. Market Volume, by Country (2019-2032)
- 10.11. Market Revenue, by Country (2019-2032)
Chapter 11. Company Profiles
Chapter 12. Appendix
- 12.1. Sources and References
- 12.2. Related Reports
