Increasing Penetration of Utility and Light Commercial Vehicles to Boost Demand for Automotive Batteries in India Says TechSci Research
Summary
Further, the battery manufacturers in India, in order to tap the replacement market, are also aggressively working on extending their reach by expanding their distributors and dealers network.“Passenger car penetration is comparatively low in India than other countries, and as a result, offers considerable opportunity for automobile companies to tap the unexplored market.Burnaby, Canada, January 31, 2014 --( PR.com )-- India is the third largest automotive market in Asia after Japan and China, and is one the top five passenger and commercial vehicle manufacturers across the globe.Rapid industrialization, especially the flourishing Micro, Small and Medium Enterprises (MSMEs), coupled with developing infrastructure is contributing to boost the demand for light commercial vehicles and heavy duty trucks in India.The industry is also receiving support by various government measures such as National Automotive Testing and R&D Infrastructure Project (NATRiP), Auto Mission 2006-2016, Focus Market Scheme, etc.