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TechNavio's analysts forecast the Commercial Vehicle market in India to grow at a CAGR of 15.02 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing investments by Original Equipment Manufacturers (OEMs). The Commercial Vehicle market in India has also been witnessing a growing demand for small commercial vehicles. However, the increased cost of raw material could pose a challenge to the growth of this market.