Insight
India’s emerging middle class and car fleet: charging ahead?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
India's car fleet outlook is crucial as it underpins demand of oil, metals, petrochemical products and etc. Based on our proprietary models, emerging middle class is a key driver of car ownership growth. Since India is still at a very early stage of motorization characterized by high income elasticity of vehicle penetration, will it see a rapid take-off of car ownership similar to China 10 – 15 years ago? Usually infrastructure limitations come into play late in a country's development stages, where urban population density prohibits further road-building, and car penetration saturates. But unique to China and most other developing countries, India's infrastructure is becoming an issue now. In conclusion, India's car fleet in the next 20 years will still grow rapidly. Although with infrastructure acting as a drag, it will not keep up with income growth, unusual in such an early stage of a nation's car fleet development.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
India’s potential as a refining and petrochemicals hub
Key themes: India's demand potential, investment challenges, competitiveness gaps, refining-chemicals integration and slow decarbonisation.
$900
Insight
The evolution of seaborne coal pricing
China and India are pivotal players in setting global coal pricing.
$1,100
