As per a report published by the Niti Ayog, the Indian truck industry is estimated to increase more than four times by the year 2050. The research suggested that banks provide more appealing financing plans for zero-emission trucks.
The Estimated Growth of the Indian Truck Industry:
The paper “Transforming Trucking in India: Pathways to Zero-Emission Truck Deployment” predicts that from 4 million vehicles in 2022 to almost 17 million trucks by 2050, the number of vehicles will more than triple.The Indian truck industry is estimated to increase more than four times by 2050, boosting the economy and reducing transportation-related emissions. The report indicated that heavy and medium-duty trucks (HDTs and MDTs) account for the bulk of that road transport and that trucks carry most of India’s commodities, accounting for 70% of the domestic freight demand of today.4.6 billion tonnes of goods are being transported annually, In India, leading to a 2.2 trillion tonne-kilometre (tonne-km) annual transportation demand costing Rs 9.5 lakh crore. If you are looking for a low-maintenance diesel-based truck to transport your goods, Tata 710 SFC can be your preferred choice.
The Contribution of Trick Industry to India’s GDP:
The paper added that due to urbanisation, population expansion, the rise of e-commerce, and rising income levels, the road freight movement associated with it is estimated to increase along with the demand for products and reach 9.6 trillion tonne-km by 2050.
Lenders and other financial institutions should endeavour to build more advantageous financing for ZET loans in light of these market changes by creating custom loan products, using informed depreciation criteria, and using alternative credit assessments.
Zero-emissions trucks (ZETs), known to reduce operating costs, also include battery electric trucks (BETs) and fuel cell electric trucks (FCETs). In India, transportation expenditures represent 62% of total logistics costs and 14% of GDP, according to the research.
Since diesel fuel prices make up the vast bulk of transportation expenses, the adoption of ZET can significantly reduce related fuel costs by up to 46% during the vehicle’s lifespan, with significant economic ramifications for India. A higher mileage diesel-based truck is a perfect fit to reduce fuel cost, Tata 610 SFC fits very well in this segment.
The estimate predicts that if costs are competitive and technology is developed, nearly nine out of 10 trucks sold in 2050 may be ZETs. The study suggested employing governmental assistance to reduce billing expenses.
This included upfront subsidies, energy tariffs that eliminate demand charges and impose EV-friendly rate structures, and land on which ZET charging infrastructure could be built at a reduced cost. In order to lower the soft costs related to charging implementation, it also suggested expediting the infrastructure installation process to shorten the times needed to process permissions and interconnections.
Pros & Cons of Diesel-Based Trucks:
Choosing a diesel-powered truck is going against the trend of the globe towards electric cars. However, large semis have relied on diesel engines for a long time for the best power when towing a big load. Do you need or desire an engine like this in your truck? Let’s get dive into the benefits and drawbacks of operating a diesel-fueled vehicle.
Pro: Diesel engines’ fuel flexibility
A diesel truck may burn biodiesel or other fuels that aid in recycling restaurant supplies. But petrol vehicles can only burn petrol. In fact, you could purchase waste vegetable oil from your neighbourhood restaurant and use it in these engines. Of course, the engine of your car will need to be modified. Nevertheless, you can use this trash with many restaurants providing it to you for free of cost.
Cons: Vehicle accessibility
Vehicles using petrol engines are far more prevalent than those with diesel engines. However, trucks constitute the majority of vehicles powered by diesel engines.
Pro: Diesel engines have more hauling capacity. A diesel truck’s superior torque ratings enable owners to tow a significantly bigger weight than they could with a gasoline-powered vehicle.
Cons: The expense of diesel is higher than that of CNG/LNG. Diesel fuel normally costs at least $0.50 more per gallon than regular petrol. Diesel fuel was less expensive than petrol, but that is not true anymore.
Pro: Diesel engines are durable. Most petrol engines are built to survive less than diesel models. Experts give varying mileage estimates, but they all concur that petrol trucks deteriorate more quickly. They also need more expensive maintenance. A diesel engine typically lasts more than 350,000 miles before needing any expensive maintenance.
Cons: Upkeep expenses. A diesel truck requires far more maintenance than a vehicle fuelled by petrol. Oil, filter, and water separator cleaning intervals are increased for diesel engines.
Pro: A diesel engine provides better fuel efficiency. Diesel trucks are often more efficient than gas-powered vehicles. A diesel truck may utilise direct injection to burn less fuel than petrol vehicles with port injection since diesel fuel has a higher energy density.
Cons: The initial cost is significantly more than for petrol vehicles. Diesel engines are often only seen in big SUVs and full-size vehicles. The majority of these vehicles cost more than their gasoline-powered counterparts. Some customers even choose a petrol vehicle instead of a diesel one because of the higher initial cost.
Diesel power makes sense if you require a truck that will survive for a long time. In addition, If it needs more towing capability than a petrol engine can provide. Trucks, especially diesel-based trucks, are always a better option if you are into a transportation business.