Daimler VP: We expect heavy truck market to grow by 60% in 2021

Daimler India Commercial Vehicles (DICV), a wholly owned subsidiary of Daimler AG, Germany, is a full-fledged commercial vehicle player in the Indian market and the only Daimler entity worldwide with a brand dedicated to its home market: BharatBenz. DICV produces and sells in India above 9 to 55 tonne trucks as well as BharatBenz buses, Mercedes-Benz coaches and bus chassis. DICV’s state-of-the-art manufacturing plant at Oragadam near Chennai spreads over 400 acres (160 hectares) including a highly modern test track and is home to the company’s headquarters, R&D and training operations.

Speaking on the key growth drivers of tippers and dump trucks in India, Rajaram Krishnamurthy, VP — Marketing, Sales and Customer Service, Daimler India Commercial Vehicles, said, “The primary segments that drive the demand for tipper and dump trucks in India are the construction and mineral extraction industries. The increasing activity in construction, real estate and infrastructure that generate payload continues to boost demand for the segment.”

He added, “Overall, we expect the heavy truck market in India to grow by more than 60 per cent in 2021, followed by 30 to 40 per cent growth in 2022 before stabilising to 15-20 per cent growth in 2023 and 2024. The market is on the recovery path after three down-cycles in the last 10 years.”

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