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With increased thrust on construction activities, the demand for trucks and trailers which are used by construction industry is expected to see a steady growth in India. The current market size of heavy duty truck and trailer segment (16 tonnes to 49 tonnes) is estimated at 1.60 lakh.
“In 2009-10, the market size was of Rs58,000 crore. This includes the M&HCV segment along with buses, goods and passenger transport vehicles. Presently the market is growing at a rate of 30%,” says Sumit Mukherjee, National Sales Head (High Yield Business), Magma FinCorp.
He says India has a robust pipeline of contracts that have already been awarded or yet to be awarded in the core infrastructure projects. “With the slowdown now fading away, the multilateral funding agencies like World Bank, ADB, Bank of Japan are also bullish on India. Apart from this, we have coal mining projects coming in a very big way. Having said this, the need for vehicles associated with these activities will also grow,” Mukherjee adds.
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According to him, there will always be high demand for medium and high haulage (25 tonner and above) trucks and tippers. “We expect the CV industry to grow at a CAGR of 25-30% for the next five years. The demand for these vehicles will be a derived one, but it can be safely assumed that we will see a growth of 15-20% in this segment. For the 16 ton class of vehicles the demand will be more aligned with the CV industry as these are long haulage vehicles and in most occasions ply on public roads,” he adds.
The Indian market has a strong presence of Tata, Volvo, Tatra, MAN-Force, Mercedes-Benz, AMW and Ashok Leyland. Anticipating huge opportunities in the Indian market, new players like Isuzu, FAW, Foton, SAIC besides others are also trying to make their presence strong. As the completion heating up, companies are looking to come up with innovative products for the Indian market.
A Ramasubramanian, President, Asia MotorWorks Limited, says: “With increased thrust on the construction and infrastructure activities, AMW’s strategy is to offer specialized products that redefine standards in the industry.” AMW’s product offering includes 2518 Transit Mixer, 2518 Concrete Pump- 32 mts, 3123 Concrete Pump- 36 mts, 4923 Concrete Pump- 42 mts. The company has launched these products to cater to the increased demands of the construction industry.
“To further strengthen our product offerings, the latest and yet to be launched 3123, lends itself to numerous applications making it a winner in its niche. We are the first manufacturer in India to offer customized solution for 42 meters concrete pump through the 3123 truck,” he adds.
Tata Motors, another strong player in the India market, says the market for trucks and tippers in India is slowly shifting towards vehicles with larger body sizes and more horsepower. “There has already been a considerable shift from two axle tippers to multi axle tippers. With increased investment in the construction sector and the accompanying boom in demand for construction materials and vehicles, Tata Motors has developed newer products custom made for various applications in the construction sector as well as developed a new range of higher powered, larger body vehicles in line with the new demand in this sector,” a spokesperson from Tata Motors says.
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