INDIA VEHICLE SCRAPPING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Name: India Vehicle Scrapping Market News
Creator: Coherent Market Insights
License: https://www.coherentmarketinsights.com/privacy-policy
Keywords: India Vehicle Scrapping Market Size, India Vehicle Scrapping Market Share, India Vehicle Scrapping Market Trends, India Vehicle Scrapping Market Growth, India Vehicle Scrapping Market Analysis, India Vehicle Scrapping Market Forecast, India Vehicle Scrapping Market Report, India Vehicle Scrapping Industry Report

India Vehicle Scrapping Market, By Material (Steel, Aluminum, Copper, Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles), By Application (New Products, Reusable Parts)

Published In : Dec 2024
Code : CMI7593
Pages :167
Formats :
Excel and PDF
Industry : Automotive and Transportation

Key Developments

In September 2024, Union Minister Nitin Gadkari urged automobile manufacturers to establish vehicle scrapping centers, highlighting that such initiatives could boost vehicle sales by 18-20%.
In October 2024, Maruti Suzuki Toyotsu India (MSTI), opened a registered vehicle scrapping facility in Noida, Uttar Pradesh. This facility employs eco-friendly processes to dismantle end-of-life vehicles, contributing to the formalization of the scrapping industry.
In January 2023, CERO, a joint venture between Mahindra Accelo and MSTC Ltd., announced plans to expand its recycling facilities to 100 cities by 2025, aiming to enhance sustainable vehicle recycling practices across India.
In April 2023, Tata Motors inaugurated a registered vehicle scrapping facility in Bhubaneswar, Odisha. This state-of-the-art center is designed to dismantle 10,000 end-of-life vehicles annually using environmentally friendly processes.