India's truck market likely to grow over 4X by 2050

According to Niti Aayog report, India’s trucking is expected to grow over four times by the year 2050.

Following is the snapshot by the current trends to logistics

1. India's trucking market is expected to grow over 4x by 2050

2. India transports 4.6 billion tonnes of freight annually, generating a transport demand of 2.2 trillion tonne-kilometres (tonne-km) at the cost of Rs 9.5 lakh crore.

3. Reports suggest that, transportation costs are a major driver (62 per cent) of overall logistics costs in India, accounting for 14 per cent of India's GDP.

4. Zero-emissions trucks (ZETs) including battery electric trucks (BETs) and fuel cell electric trucks (FCETs) do not have tailpipe emissions and have lower operating costs.

5. With cost competitiveness and technology maturity, it is predicted that nearly 9 in 10 trucks sold in 2050 can be ZETs

With rising demand for goods with urbanization, population increase, the rise of e-commerce and rising income levels, the associated road freight movement is expected to increase to 9.6 trillion tonne-km by 2050.

What are your thoughts on the growth of Indian road transport, let us know in the comment box.

For more such insights follow Amicus Growth Advisors

Source: ET Prime


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