PUBLISHER: TechNavio | PRODUCT CODE: 1398169
PUBLISHER: TechNavio | PRODUCT CODE: 1398169
The electric vehicle market in India is forecasted to grow by USD 34,369.3 mn during 2023-2028, accelerating at a CAGR of 68.48% during the forecast period. The report on the electric vehicle market in India provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing adoption of EVs for improved logistics and transportation, a growing focus on reducing vehicular emissions, and an increase in product launches in electric vehicle.
Market Scope | |
---|---|
Base Year | 2023 |
End Year | 2028 |
Series Year | 2024-2028 |
Growth Momentum | Accelerate |
YOY 2024 | 65.87% |
CAGR | 68.48% |
Incremental Value | $34369.3mn |
Technavio's electric vehicle market in India is segmented as below:
By Charging
By Vehicle Type
By Type
This study identifies the technological advances in ECVs as one of the prime reasons driving the electric vehicle market in India's growth during the next few years. Also, government incentives and subsidies for EV charger infrastructure developments and integration of telematics and autonomous technologies will lead to sizable demand in the market.
The report on the electric vehicle market in India covers the following areas:
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric vehicle market in India vendors that include ANI Technologies Pvt. Ltd., Ather Energy Pvt. Ltd., Atul Auto Ltd., Bajaj Auto Ltd., Electrotherm Ltd., EV Motors India Pvt Ltd., Hero Eco Group, Hyundai Motor Co., Jitendra wheels, Kinetic green vehicles, Li-ions Elektrik Solutions Pvt. Ltd., Mahindra and Mahindra Ltd., Maini Corporate Pvt Ltd., RattanIndia Enterprises Ltd., Rissala Electric Motors Pvt. Ltd., SAIC Motor Corp. Ltd., Suzuki Motor Corp., Tata Sons Pvt. Ltd., TVS Motor Co. Ltd., and Ultraviolette Automotive Pvt Ltd.. Also, the electric vehicle market in India analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
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