India Commercial Vehicles Market Size, Share & Growth 2025-30

 The India Commercial Vehicles Market is projected to be valued at USD 51.09 billion in 2025 and is expected to grow to USD 62.95 billion by 2029, registering a CAGR of 5.36% during the forecast period (2025–2029). 

The India Commercial Vehicles Market plays a vital role in the country’s transportation, logistics, and infrastructure sectors. Serving as the backbone of goods movement and public transit, this market includes a wide range of vehicles such as light commercial vehicles (LCVs), heavy trucks, and buses. It caters to diverse end-user segments including construction, retail, mining, agriculture, and passenger transport. 

 

Key Market Trends in the India Commercial Vehicles Market 

  • Fleet Replacement Driving Demand 
     A significant portion of India's commercial vehicle fleet has aged beyond 10 years, particularly in the medium and heavy-duty segments. This is triggering a replacement cycle, especially as fleet operators seek vehicles that meet updated emission and safety standards. 

  • Rising Demand for Light Commercial Vehicles (LCVs) 
     Growth in last-mile delivery, e-commerce logistics, and intra-city transport is fueling the demand for LCVs. These vehicles offer cost-effective and flexible transport solutions for urban and semi-urban areas. 

  • Shift Toward Alternative Fuels 
     Adoption of CNG, LNG, and electric commercial vehicles is gradually increasing, driven by government incentives, rising fuel costs, and sustainability goals. While diesel continues to dominate, cleaner fuel options are gaining ground in select regions and vehicle categories. 

  • Government Push Through Infrastructure Projects 
     Major public infrastructure programs such as the Bharatmala and dedicated freight corridors are supporting demand for heavy-duty trucks used in construction, mining, and material transport. 

  • Growth in Electric Commercial Vehicles (ECVs) 
     Though still a small segment, electric commercial vehicles particularly buses and small delivery vans—are seeing rising interest due to lower operating costs and state-level EV incentives. New entrants and traditional OEMs are investing in EV manufacturing capacity. 

 

Vehicle Body Type Segmentation 

  • Buses 
     Buses are gaining traction, expanding into school transport, corporate shuttle, intercity travel, and smart-city mobility. Manufacturers are increasingly offering cleaner and electric options to cater to sustainability and urban transit needs  

  • Heavy‑Duty Commercial Trucks 
     These trucks form the backbone of long-haul logistics and infrastructure-driven load hauling. They are critical for transporting materials across regions, particularly in sectors like construction, mining, and freight corridors 

  • Light Commercial Pick‑up Trucks 
     Representing the largest share (~57% in 2024), pick-up trucks dominate due to versatility in last‑mile delivery, rural transport, and small-scale logistics. Their adaptability makes them indispensable in e-commerce and SME supply chains  

  • Light Commercial Vans 
     Lighter and more compact than class‑A trucks, these vans excel in intra-city freight, service vehicles, and specialized logistics (e.g. cold chain, pharmaceutical transport). Improvements in fuel economy and telematics support their rising use 

 

Propulsion Type Segmentation 

  • ICE (Internal Combustion Engine) 
     Comprising diesel, CNG, gasoline, and LPG variants, ICE vehicles remain dominant—especially diesel heavy trucks—thanks to high torque, a robust service network, and fuel accessibility nationwide 

 

  • Hybrid & Electric Vehicles (HEV, PHEV, BEV, FCEV) 
     This segment is seeing rapid growth buoyed by government policies like FAME II, state EV incentives, and advanced battery technologies. OEMs are launching new BEV and hybrid models across buses, LCVs, and small trucks 

India Commercial Vehicles Market Leaders 

  •  Ashok Leyland Limited 

  •  Mahindra & Mahindra Limited  

  • SML Isuzu Limited  

  • Tata Motors Limited 

  •  VE Commercial Vehicles Limited 

 

For a detailed overview and more insights, you can refer to the full market research report by Mordor Intelligence: https://www.mordorintelligence.com/industry-reports/india-commercial-vehicles-market?utm_source=blogger 

 

 

 
 
About Mordor Intelligence:  

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals. 

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics. 

For any inquiries or to access the full report, please contact: 

media@mordorintelligence.com  
https://www.mordorintelligence.com/ 

 

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