Over the last decade, India witnessed a prominent development in the industrial sector. Increase in Industries and commercialization along with rapid increase in country population driving the demand for vehicles. In the last few years, the market witnessed a significant increase in demand for commercial vehicles.
The engine oil companies are benefitted as these vehicles requires synthetic engine oils costlier than conventional oils. Moreover, the enforcement of strict emission norms is pushing demands for engine oil, Central Pollution Control Board which works under the Ministry of Environment implemented BSIV norms in Apr’17 and further plans to implement BS VI norms by 2020 which these norms likely to bring an improvement in quality of engine oils. The engine oil companies are focusing on improving their sales by setting up exclusive stores, forming tie ups with the automotive manufacturers and also by offering vehicle servicing.
This report provides the market dynamics, demands, competition, technology & governing factors. The report provides details information and strategies of the top key players in the industry.
The macro and micro trends that influence the commercial vehicle market segments are considered and the report provides a detailed view of the various investment opportunities based on the current and future development of the industry as outlined in the report. Another important feature of the report is the analysis of the pricing trends in the Indian bus market.