Indian Electric Vehicle Market is expected to reach US$ XX Bn in 2027 from US$ XX Bn in 2019 at a CAGR of 30 % over the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Indian Electric Vehicle Market
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Indian Electric Vehicle Market Dynamics:
Indian is aiming to reduce its overall oil import expense and pollution level across cities, electric vehicles will play a remarkable role in achieving the target. Strong government support and hike in crude oil prices drive the electric vehicle market in Indian. The government of Indian will ban petrol and diesel cars by 2030.
This means that petrol/diesel cars won’t be allowed on road after 2030 only electric cars will be sold. The government’s ban on petrol and diesel car is a powerful endorsement of electric, green technology, and can change the transportation industry forever. Government initiative for electric vehicles under FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) Indian and NEMMP (National Electric Mobility Mission Plan) 2020 creates a potential opportunity for electric vehicle in Indian. Low maintenance and operations costs of electric vehicles coupled with a drop in battery price favour E-Vehicle adoption.
Indian Electric Vehicle Market Segment Analysis:
Indian electric vehicle market is segmented by technology, by power source, by vehicle type and by powertrain. Based on technology, the Indian electric vehicle market is segmented by hybrid electric vehicle, plug-in hybrid electric vehicle, battery electric vehicle. In terms of power source, the Indian electric vehicle market is bifurcated into stored electricity, on-board electric, and generator. Two wheelers, passenger cars, commercial vehicles, others are vehicle type segments of Indian electric vehicle market. In terms of power train, Indian electric vehicle market is divided into series hybrid, parallel hybrid, combined hybrid.
Two-wheeler vehicle segment dominated the Indian electric vehicle market in 2019. Passenger cars is anticipated to grow at high CAGR. The government plan to ban diesel and petrol passenger cars will lead to a high sale. Attributed to this passenger cars segment is expected to hold 70 % of the Indian electric vehicles market share by 2027.
The stored electricity segment is anticipated to be the most lucrative segment in the Indian electric vehicles market and is estimated to dominate the Indian electric vehicles market with an 84.4% market revenue share in 2019. Central government has proposed that the Union ministry of Power and state governments, create a ‘minimum skeleton network' of charging infrastructure throughout the country. Highways connecting metros, two sets of charging stations are proposed on either side of the road, every 25 km. This encourages the use of EVs and create enough demand to attract players to set up charging stations, thus creating a bigger market for stored electricity power sources in the forecast.
Automobile manufacturers have started working extensively towards electrifying or introducing electric vehicles. Hyundai has confirmed electric vehicle debut in Indian by 2019. Maruti Suzuki has also announced launching of its first electric vehicle in Indian by 2020. Global automakers like Audi, Mercedes and Porsche do have plans to bring their electric vehicles to Indian.
The objective of the report is to present a comprehensive analysis of the Indian Electric Vehicles Market, by geography for automotive including all the stakeholders of the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of the industry with the dedicated study of key players that includes Market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision makers.
The report also helps in understanding Indian Electric Vehicles Market, by geography for automotive dynamics, structure by analyzing the Market segments, and project the Indian Electric Vehicles Market, by geography for automotive size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Indian Electric Vehicles Market, by geography for automotive the report investor’s guide.
Indian Electric Vehicle Market, Key Highlights:
• Indian Electric Vehicle Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Indian Electric Vehicle Market
• Indian Electric Vehicle Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Indian Electric Vehicle Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Indian Electric Vehicle Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Indian Electric Vehicle Market are also profiled.
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Scope of the Indian Electric Vehicles Market: Inquire before buying
Indian Electric Vehicles Market, By Technology Type
• Hybrid Electric Vehicle
• Plug-In Hybrid Electric Vehicle
• Battery Electric Vehicle
Indian Electric Vehicles Market, By Power Source Type
• Stored Electricity
• On-Board Electric
• Generator
Indian Electric Vehicles Market, By Vehicle Type
• Two Wheelers
• Passenger Cars
• Commercial Vehicles
• Others
Indian Electric Vehicles Market, By Powertrain Type
• Series Hybrid
• Parallel Hybrid
• Combined Hybrid
Indian Electric Vehicles Market Key Player
• Mahindra & Mahindra Ltd.
• MARUTI SUZUKI INDIAN LIMITED
• Toyota Motor Corporation
• AB Volvo
• Tata Motors
• Ashok Leyland
• Hero Electric Vehicles Private Limited
• Honda Motor Co., Ltd.
• Bayerische Motoren Werke AG
• Avon Cycles Ltd
• Lohia Auto Industries
• Electrotherm (Indian) Ltd
• Yamaha Golf-Car Company
• Club Car, LLC
• Speedways Electric
• Maini Material Movement Pvt. Ltd.
• Auto Power
• Carrieall Car Private Limited
• Ampere Vehicles Pvt. Ltd.
• Tunwal E-Vehicle Indian Pvt. Ltd.
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