India: Transportation Vehicle Body Market 2025

Transportation Vehicle Body Market Size in India

The Indian transportation vehicle body market reached $X in 2022, picking up by 3.4% against the previous year. In general, consumption recorded a buoyant expansion. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in years to come.

Transportation Vehicle Body Production in India

In value terms, transportation vehicle body production rose slightly to $X in 2022 estimated in export price. In general, production continues to indicate a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 39% against the previous year. Transportation vehicle body production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Transportation Vehicle Body Exports

Exports from India

In 2022, approx. X units of bodies for motor vehicles for the transporting people were exported from India; picking up by 109% against the previous year's figure. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 408%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, transportation vehicle body exports surged to $X in 2022. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 429%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The Philippines (X units) was the main destination for transportation vehicle body exports from India, with a 89% share of total exports. Moreover, transportation vehicle body exports to the Philippines exceeded the volume sent to the second major destination, Romania (X units), more than tenfold. The third position in this ranking was taken by South Korea (X units), with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to the Philippines stood at +486.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+173.4% per year) and South Korea (+76.3% per year).

In value terms, the Philippines ($X) remains the key foreign market for bodies for motor vehicles for the transporting people exports from India, comprising 87% of total exports. The second position in the ranking was taken by South Korea ($X), with a 3.3% share of total exports. It was followed by Romania, with a 1.3% share.

From 2012 to 2022, the average annual growth rate of value to the Philippines amounted to +767.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+62.9% per year) and Romania (+92.6% per year).

Export Prices by Country

In 2022, the average transportation vehicle body export price amounted to $X per unit, which is down by -12.2% against the previous year. Overall, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 an increase of 100%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per unit), while the average price for exports to Romania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+47.8%), while the prices for the other major destinations experienced a decline.

Transportation Vehicle Body Imports

Imports into India

Transportation vehicle body imports into India skyrocketed to X units in 2022, increasing by 29% on 2021 figures. Over the period under review, imports saw significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 180%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, transportation vehicle body imports soared to $X in 2022. In general, imports showed buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 115%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of transportation vehicle body to India, with a 59% share of total imports. Moreover, transportation vehicle body imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), threefold. France (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +62.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+107.9% per year) and France (+148.4% per year).

In value terms, the largest transportation vehicle body suppliers to India were Germany ($X), China ($X) and the United States ($X), with a combined 76% share of total imports. Singapore, France and the United Arab Emirates lagged somewhat behind, together accounting for a further 17%.

The United Arab Emirates, with a CAGR of +2,138.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average transportation vehicle body import price amounted to $X per unit, increasing by 9.4% against the previous year. Overall, the import price, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 21%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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