At the end of fiscal year 2020, the south western state of Maharashtra in India had around 4.8 million registered commercial vehicles. In the same year, around 718 thousand units of commercial vehicles were sold across India. The majority of commercial vehicles in India belong to the light commercial vehicle (LCV) segment.

The India Commercial Vehicles Market report segments the industry into Vehicle Body Type (Buses, Heavy-Duty Commercial Trucks, Light Commercial Pick-Up Trucks, Light Commercial Vans) and Propulsion Type (Hybrid And Electric Vehicles, ICE). Get five years of historical data alongside five-year market forecasts.

India: New commercial vehicle sales, numbers per year: The latest value from 2023 is 978385 commercial vehicles, an increase from 933116 commercial vehicles in 2022. In comparison, the world average is 468008 commercial vehicles, based on data from 57 countries. Historically, the average for India from 2005 to 2023 is 674703 commercial vehicles. The minimum value, 333592 commercial vehicles, was reached in 2005 while the maximum of 1005380 commercial vehicles was recorded in 2018.

In fiscal year 2020, Andhra Pradesh had over 887 thousand commercial vehicles in use. In fiscal year 2020, the Indian commercial vehicle industry recorded an all time high with a sales volume of over a million units. Heavy trucks witnessed the largest growth within the segment that year.

In fiscal year 2020, the Indian state of Maharashtra had over 4.7 million commercial vehicles in use. In fiscal year 2020, the Indian commercial vehicle industry recorded an all time high with a sales volume of over a million units. Heavy trucks witnessed the largest growth within the segment that year.

In a country with the third-largest road network in the world, the total number of vehicles in fiscal year 2022 stood at 354 million. Road travel seemed to be the preferred choice in India with around 60 percent of the population who used personal or shared vehicles for commute. Not only public commute, the industrial movement of goods through roads has also been on the rise with nearly 2.9 billion metric tons per kilometer of freight transported through roads in the financial year 2020. Demographics The youth in the capital city of Delhi prefer to use public transport, and it is known to be one of the best public transport networks in the country. In the southern cities of Hyderabad and Chennai, however, personal two-wheelers were vehicles of choice for the young generation. This affection towards the easily navigable two-wheelers was reflected in the sales volume, with an approximate 18 million two-wheelers sold in the country in financial year 2024. Road accidents With the increase of motor bike sales in India, there was also a rise in the risks involved with them. With over 32.9 thousand road accidents by two-wheelers in 2022, each year, about three to five percent of the GDP of the country was invested in road accidents. Despite the downside, the number of motorcycles was likely to increase to make travelling within a mercilessly congested and not easily accessible network of roads within the large cities. Moreover, with continued urbanization and a consumer sector that continues to burgeon, the development of the automotive industry was expected to see continued growth.

India Motor Vehicle Sales: Commercial Vehicle (CV) data was reported at 1,107,250.000 Unit in 2019. This records an increase from the previous number of 953,781.000 Unit for 2018. India Motor Vehicle Sales: Commercial Vehicle (CV) data is updated yearly, averaging 639,808.500 Unit from Mar 2002 (Median) to 2019, with 18 observations. The data reached an all-time high of 1,107,250.000 Unit in 2019 and a record low of 158,541.000 Unit in 2002. India Motor Vehicle Sales: Commercial Vehicle (CV) data remains active status in CEIC and is reported by Society of Indian Automobile Manufacturers. The data is categorized under Global Database’s India – Table IN.RAB002: Automobile Sales: Society of Indian Automobile Manufacturers (SIAM) (Annual).

In fiscal year 2020, the Indian state of Meghalaya had around 93 thousand commercial vehicles in use. In fiscal year 2020, the Indian commercial vehicle industry recorded an all time high with a sales volume of over a million units. Heavy trucks witnessed the largest growth within the segment that year.

In financial year 2025, around ****thousand units of commercial vehicles were sold across India. It was a slight decline in comparison with the previous year. Tata Motors dominated the market with a share of around ***percent. The overall economic slowdown due to the impact of coronavirus (COVID-19), the transition to BS-VI emission standards, and revised axle load norms were some of the contributing factors for the two consecutive years’ decline of sales volume in this sector. BS-VI emission standards The Bharat Stage Emission Standards (BSES) are emission standards that regulated by the Indian government to control the output of air pollutants from combustion and spark ignition equipment. From April 1, 2020, all vehicle manufacturers were mandated to follow the new standards to replace the old BS-III standards that were implemented back in October 2010. The first emission standards were introduced to India in 1991 for petrol and in 1992 for diesel vehicles. Road freight in India Road freight was the preferred method of cargo transportation in India, trucks could provide more reliability and flexibility compared to other means of transportation. However, rampant overloading had contributed to many road accidents, the government introduced new axle load norms in an effort to tackle this issue. The new norms, together with fast improving road infrastructure, high gross vehicles have become more and more popular in the road logistics industry.

Registered Motor Vehicles: Punjab: Transport: Multiaxled/Articulated Vehicles, Trucks and Lorries data was reported at 385.670 Unit th in 2020. This records an increase from the previous number of 364.047 Unit th for 2019. Registered Motor Vehicles: Punjab: Transport: Multiaxled/Articulated Vehicles, Trucks and Lorries data is updated yearly, averaging 125.898 Unit th from Mar 2001 (Median) to 2020, with 19 observations. The data reached an all-time high of 385.670 Unit th in 2020 and a record low of 64.967 Unit th in 2005. Registered Motor Vehicles: Punjab: Transport: Multiaxled/Articulated Vehicles, Trucks and Lorries data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under India Premium Database’s Automobile Sector – Table IN.RAD030: Number of Registered Motor Vehicles: Punjab.

Registered Motor Vehicles: Maharashtra: Transport: Trucks and Lorries data was reported at 540.172 Unit th in 2020. This records an increase from the previous number of 520.878 Unit th for 2019. Registered Motor Vehicles: Maharashtra: Transport: Trucks and Lorries data is updated yearly, averaging 365.167 Unit th from Mar 2002 (Median) to 2020, with 19 observations. The data reached an all-time high of 540.172 Unit th in 2020 and a record low of 219.301 Unit th in 2002. Registered Motor Vehicles: Maharashtra: Transport: Trucks and Lorries data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under India Premium Database’s Automobile Sector – Table IN.RAD022: Number of Registered Motor Vehicles: Maharashtra.

Registered Motor Vehicles: City: Indore: Transport: Trucks and Lorries data was reported at 70.314 Unit th in 2020. This records an increase from the previous number of 36.914 Unit th for 2019. Registered Motor Vehicles: City: Indore: Transport: Trucks and Lorries data is updated yearly, averaging 30.384 Unit th from Mar 2002 (Median) to 2020, with 19 observations. The data reached an all-time high of 70.314 Unit th in 2020 and a record low of 23.933 Unit th in 2002. Registered Motor Vehicles: City: Indore: Transport: Trucks and Lorries data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under India Premium Database’s Automobile Sector – Table IN.RAE008: Number of Registered Motor Vehicles: City: Indore.

In fiscal year 2020, the Indian state of Uttarakhand had around 147 thousand commercial vehicles in use. In fiscal year 2020, the Indian commercial vehicle industry recorded an all time high with a sales volume of over a million units. Heavy trucks witnessed the largest growth within the segment that year.

In the financial year 2025, Tata Motors dominated the domestic commercial vehicle market across India with a share of around ***percent. In 2024, the company had an overall revenue of around 4.4 trillion Indian rupees. Commercial vehicle sales had been on an inline across the south Asian country for a few years. From mid-2019, however, the automotive industry’s slowdown has affected the sales and production alike. BS VI standardsThe Bharat stage emission standards (BSES) are emission standards that the Indian government regulates to keep the output of air pollutants from combustion and spark ignition engines in check. The Central Pollution Control Board determines the limits and time of implementation of these standards. From April 2020, BS VI norms were estimated to be implemented across the country, as a replacement to the existing BS III standards that were implemented in October 2010. The emission limits for light and heavy commercial vehicles were estimated to be 0.63 and 1.5 grams per kilometer respectively. New modelsCommercial vehicle manufacturers revealed new models complying with the BS VI standards to reinstate a growth in sales volumes. Tata Motors, the leading manufacturer, announced a product offensive for 2020. Similarly, Volvo Eicher Commercial Vehicles also announced a ‘Smart Trucks’ initiative to gain a competitive edge. The emission standards have affected the commercial vehicles market significantly. Manufacturers not only aimed for cleaner vehicles but redesigned their vehicles and vamped up the entire product line, making the outlook for the industry presumably very positive.

The India CNG Vehicles Market is segmented by Vehicle Type (Commercial Vehicles). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

Registered Motor Vehicles: Chhattisgarh: Transport: Trucks and Lorries data was reported at 120.980 Unit th in 2020. This records an increase from the previous number of 114.486 Unit th for 2019. Registered Motor Vehicles: Chhattisgarh: Transport: Trucks and Lorries data is updated yearly, averaging 69.448 Unit th from Mar 2002 (Median) to 2020, with 19 observations. The data reached an all-time high of 120.980 Unit th in 2020 and a record low of 24.975 Unit th in 2002. Registered Motor Vehicles: Chhattisgarh: Transport: Trucks and Lorries data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under India Premium Database’s Automobile Sector – Table IN.RAD009: Number of Registered Motor Vehicles: Chhattisgarh.

E Axles for Commercial Vehicle Market Outlook

The global market size for E Axles for commercial vehicles was valued at approximately USD 3.5 billion in 2023 and is projected to reach about USD 12.6 billion by 2032, growing at a robust CAGR of 15.4% during the forecast period. The significant growth factor driving this market includes the increasing demand for electric commercial vehicles due to stringent emission regulations and the need for reducing the total cost of ownership.

One of the primary growth factors for the E Axle market is the stringent emission regulations imposed by governments worldwide. Countries across Europe, North America, and Asia Pacific are enforcing tighter norms on vehicle emissions, which has accelerated the shift towards electric vehicles. These regulations are aimed at reducing greenhouse gas emissions and air pollutants, making electric commercial vehicles a more attractive option for fleet operators. The adoption of E Axles is becoming essential as they form a crucial component of electric drivetrains, offering better efficiency and performance over traditional axles.

Another significant growth driver is the increasing awareness regarding the total cost of ownership (TCO) of commercial vehicles. Electric commercial vehicles, equipped with E Axles, promise lower maintenance costs, reduced fuel expenses, and longer lifespans compared to their internal combustion engine counterparts. Fleet operators and logistics companies are increasingly realizing the economic benefits of switching to electric vehicles. The reduction in operating costs and the availability of various government subsidies and incentives are further encouraging the adoption of E Axles in commercial vehicles.

Technological advancements and increased R&D activities in the electric mobility sector are also propelling the market forward. Innovations in battery technology, power electronics, and electric motors are enhancing the performance and reliability of E Axles. Manufacturers are investing heavily in developing lightweight, efficient, and cost-effective E Axle solutions to meet the growing demands of the commercial vehicle market. This continuous evolution in technology is expected to drive the growth of the E Axle market significantly over the forecast period.

Regionally, Asia Pacific is expected to dominate the E Axle market due to the rapid industrialization, urbanization, and supportive government policies promoting electric vehicles. Countries like China and India are at the forefront of this transition, with substantial investments in electric mobility infrastructure. Europe and North America are also significant markets due to the stringent emission norms and the presence of leading automotive manufacturers investing in electric vehicle production. Latin America and the Middle East & Africa are expected to witness moderate growth due to the gradual adoption of electric vehicles and supportive regulatory frameworks.

Component Analysis

The component segment of the E Axles for commercial vehicle market includes Electric Motor, Power Electronics, Transmission, and Others. The Electric Motor segment is expected to hold a significant market share due to the crucial role it plays in converting electrical energy into mechanical energy, which powers the vehicle. Electric motors are essential for the propulsion of electric vehicles, and advancements in motor technology are enhancing their efficiency, reliability, and compactness. This is driving their adoption in E Axles for commercial vehicles, contributing significantly to market growth.

Power Electronics, comprising inverters and converters, is another critical component in E Axles. These components are responsible for managing and controlling the flow of electrical energy within the vehicle's drivetrain. With continuous advancements in semiconductor technology, power electronics are becoming more efficient, enabling better energy management, reduced energy losses, and improved overall vehicle performance. The increasing need for efficient power management in electric vehicles is driving the growth of the Power Electronics segment.

The Transmission segment in E Axles is vital for transferring mechanical power from the electric motor to the vehicle's wheels. Although electric vehicles typically have simpler transmission systems compared to conventional vehicles, the need for robust and efficient transmission solutions remains. Innovations in transmission technology, including multi-speed transmissions for electric vehicles, are enhancing the performance and eff

The India Electric Vehicle Market is segmented by Vehicle Type (Commercial Vehicles, Passenger Vehicles, Two-Wheelers) and by Fuel Category (FCEV, HEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

In fiscal year 2020, the Indian state of Assam had around 692 thousand commercial vehicles in use. In fiscal year 2020, the Indian commercial vehicle industry recorded an all time high with a sales volume of over a million units. Heavy trucks witnessed the largest growth within the segment that year.

Registered Motor Vehicles: Assam: Transport: Multiaxled/Articulated Vehicles, Trucks and Lorries data was reported at 156.599 Unit th in 2020. This records an increase from the previous number of 155.393 Unit th for 2019. Registered Motor Vehicles: Assam: Transport: Multiaxled/Articulated Vehicles, Trucks and Lorries data is updated yearly, averaging 119.309 Unit th from Mar 2001 (Median) to 2020, with 20 observations. The data reached an all-time high of 156.599 Unit th in 2020 and a record low of 2.175 Unit th in 2013. Registered Motor Vehicles: Assam: Transport: Multiaxled/Articulated Vehicles, Trucks and Lorries data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under India Premium Database’s Automobile Sector – Table IN.RAD006: Number of Registered Motor Vehicles: Assam.