Automotive Market in India was accounted for 3.99 Mn units in 2023 and the market is expected to reach 6.38 Mn units at a CAGR of 6.94 % by 2030.
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About the Market
The Indian automobile industry produces and sells vehicles grouped by design, usefulness, and purpose. Changes in transportation rules, the necessity for alternative fuels, and innovation in sustainable car technologies all contribute to rising demand. This market study provides deep insights into industry dynamics, segmentation, geographical trends, and the competitive landscape, drawing on both primary and secondary research to deliver an educated market outlook.
Automotive Market in India Segments Analysis
In 2024, Two-wheeler Segment Held the Dominant Position with A Share of Above 49% While Petrol Segment Dominated the Automotive Market in India and accounted for 62.3% Of the Global Revenue Share.
By Vehicle Type
Passenger Vehicles
Hatchbacks
Mini Hatchback
Small Hatchback
Sedans
SUVs
MUVs/ MPVs
Other
Commercial Vehicles
Truck
Bus
Light Commercial Vehicle (LCV)
Others
Two Wheelers
Motorcycles
Scooters
Electric Bikes
Three Wheelers
Auto Rickshaws
Goods Carriers
Others
By Type
Petrol
Diesel
Electric cars
Others
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Regional Insights for Automotive Market in India
In 2024, The North Indian and West Indian regions are dominating the Indian automotive market with largest market share. North India dominates the Indian auto market due to its dense population, rapid urbanization, and high demand for two-wheelers and passenger vehicles such as SUVs. West India stands out for its considerable presence in commercial vehicles, which is aided by its extensive agricultural base and closeness to major ports.
Market key players Fueling industry evolution
These companies are leading the Automotive Market in India, demonstrating strong financial performance and strategic investments in product development and market expansion:
Tata Motors Ltd ~$45 billion
Maruti Suzuki India Ltd ~$15 billion
Mahindra & Mahindra Ltd ~$11 billion
Hero MotoCorp Ltd ~$5.5 billion
Bajaj Auto Ltd ~$4.8 billion
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