Siliconindia Magazine

An Emerging Industry With Numerous Opportunities

Being the second-most populous country, India has one of the biggest and most diverse commercial vehicle industries in the world. A recent study states that the Indian commercial vehicle market is going to grow at a CAGR of 2.97 percent from 2018 to 2030. By 2023, the entire commercial vehicle market of the country is estimated to be valued at 21.9 billion US dollars. Various reputed Indian and foreign companies are trying different strategies to get their foothold in the Indian commercial vehicles market. With the competition being so intense, manufacturers are coming up with new technologies and products to get an edge over their competition. Commercial vehicles are acting as the link between businesses, allowing them to run their operations smoothly.