Electric Vehicle Market in India 2025-2029

Description

List of Tables

The electric vehicle market in India is forecasted to grow by USD 200029.6 mn during 2024-2029, accelerating at a CAGR of 93.9% 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 increasing adoption of evs for improved logistics and transportation, growing focus on reducing vehicular emissions, and increase in product launches in electric vehicle market.

Technavio's electric vehicle market in India is segmented as below:

Market Scope
Base Year	2025
End Year	2029
Series Year	2025-2029
Growth Momentum	Accelerate
YOY 2025	73.7%
CAGR	93.9%
Incremental Value	$200029.6 mn

By Charging

Normal charging
Super charging

By Vehicle Type

Passenger cars
Commercial vehicles

By Type

BEV
PHEV

By Geographical Landscape

APAC

This study identifies the technological advances in EVs as one of the prime reasons driving the electric vehicle market in India 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:

Electric Vehicle Market in India sizing
Electric Vehicle Market in India forecast
Electric Vehicle Market in India industry analysis

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 Limited, Rissala Electric Motors Pvt. Ltd., SAIC Motor Corp. Ltd., Suzuki Motor Corp., Tata Sons Pvt. Ltd., TVS Motor Co., 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 primary and secondary research. 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 accurate market growth.

Product Code: IRTNTR76985

1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Country Market Characteristics
- Executive Summary - Chart on Market Segmentation by Charging
- Executive Summary - Chart on Market Segmentation by Vehicle Type
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation
2.3 Factors of disruption
- Overview on factors of disruption
2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
3.2 Market characteristics
- Market characteristics analysis
3.3 Value chain analysis
- Value chain analysis

4 Market Sizing

4.1 Market definition
- Offerings of companies included in the market definition
4.2 Market segment analysis
- Market segments
4.3 Market size 2024
4.4 Market outlook: Forecast for 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ million)
- Data Table on India - Market size and forecast 2024-2029 ($ million)
- Chart on India: Year-over-year growth 2024-2029 (%)
- Data Table on India: Year-over-year growth 2024-2029 (%)

5 Historic Market Size

5.1 Electric Vehicle Market in India 2019 - 2023
- Historic Market Size - Data Table on Electric Vehicle Market in India 2019 - 2023 ($ million)
5.2 Charging segment analysis 2019 - 2023
- Historic Market Size - Charging Segment 2019 - 2023 ($ million)
5.3 Vehicle Type segment analysis 2019 - 2023
- Historic Market Size - Vehicle Type Segment 2019 - 2023 ($ million)
5.4 Type segment analysis 2019 - 2023
- Historic Market Size - Type Segment 2019 - 2023 ($ million)

6 Qualitative Analysis

6.1 The AI impact on Electric Vehicle Market in India

7 Five Forces Analysis

7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029

8 Market Segmentation by Charging

8.1 Market segments
- Chart on Charging - Market share 2024-2029 (%)
- Data Table on Charging - Market share 2024-2029 (%)
8.2 Comparison by Charging
- Chart on Comparison by Charging
- Data Table on Comparison by Charging
8.3 Normal charging - Market size and forecast 2024-2029
- Chart on Normal charging - Market size and forecast 2024-2029 ($ million)
- Data Table on Normal charging - Market size and forecast 2024-2029 ($ million)
- Chart on Normal charging - Year-over-year growth 2024-2029 (%)
- Data Table on Normal charging - Year-over-year growth 2024-2029 (%)
8.4 Super charging - Market size and forecast 2024-2029
- Chart on Super charging - Market size and forecast 2024-2029 ($ million)
- Data Table on Super charging - Market size and forecast 2024-2029 ($ million)
- Chart on Super charging - Year-over-year growth 2024-2029 (%)
- Data Table on Super charging - Year-over-year growth 2024-2029 (%)
8.5 Market opportunity by Charging
- Market opportunity by Charging ($ million)
- Data Table on Market opportunity by Charging ($ million)

9 Market Segmentation by Vehicle Type

9.1 Market segments
- Chart on Vehicle Type - Market share 2024-2029 (%)
- Data Table on Vehicle Type - Market share 2024-2029 (%)
9.2 Comparison by Vehicle Type
- Chart on Comparison by Vehicle Type
- Data Table on Comparison by Vehicle Type
9.3 Passenger cars - Market size and forecast 2024-2029
- Chart on Passenger cars - Market size and forecast 2024-2029 ($ million)
- Data Table on Passenger cars - Market size and forecast 2024-2029 ($ million)
- Chart on Passenger cars - Year-over-year growth 2024-2029 (%)
- Data Table on Passenger cars - Year-over-year growth 2024-2029 (%)
9.4 Commercial vehicles - Market size and forecast 2024-2029
- Chart on Commercial vehicles - Market size and forecast 2024-2029 ($ million)
- Data Table on Commercial vehicles - Market size and forecast 2024-2029 ($ million)
- Chart on Commercial vehicles - Year-over-year growth 2024-2029 (%)
- Data Table on Commercial vehicles - Year-over-year growth 2024-2029 (%)
9.5 Market opportunity by Vehicle Type
- Market opportunity by Vehicle Type ($ million)
- Data Table on Market opportunity by Vehicle Type ($ million)

10 Market Segmentation by Type

10.1 Market segments
- Chart on Type - Market share 2024-2029 (%)
- Data Table on Type - Market share 2024-2029 (%)
10.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
10.3 BEV - Market size and forecast 2024-2029
- Chart on BEV - Market size and forecast 2024-2029 ($ million)
- Data Table on BEV - Market size and forecast 2024-2029 ($ million)
- Chart on BEV - Year-over-year growth 2024-2029 (%)
- Data Table on BEV - Year-over-year growth 2024-2029 (%)
10.4 PHEV - Market size and forecast 2024-2029
- Chart on PHEV - Market size and forecast 2024-2029 ($ million)
- Data Table on PHEV - Market size and forecast 2024-2029 ($ million)
- Chart on PHEV - Year-over-year growth 2024-2029 (%)
- Data Table on PHEV - Year-over-year growth 2024-2029 (%)
10.5 Market opportunity by Type
- Market opportunity by Type ($ million)
- Data Table on Market opportunity by Type ($ million)

11 Customer Landscape

11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

12 Drivers, Challenges, and Opportunity/Restraints

12.1 Market drivers
12.2 Market challenges
12.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
12.4 Market opportunities/restraints

13 Competitive Landscape

13.1 Overview
13.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
13.3 Landscape disruption
- Overview on factors of disruption
13.4 Industry risks
- Impact of key risks on business

14 Competitive Analysis

14.1 Companies profiled
- Companies covered
14.2 Company ranking index
- Company ranking index
14.3 Market positioning of companies
- Matrix on companies position and classification
14.4 ANI Technologies Pvt. Ltd.
- ANI Technologies Pvt. Ltd. - Overview
- ANI Technologies Pvt. Ltd. - Product / Service
- ANI Technologies Pvt. Ltd. - Key offerings
- SWOT
14.5 Ather Energy Pvt. Ltd.
- Ather Energy Pvt. Ltd. - Overview
- Ather Energy Pvt. Ltd. - Product / Service
- Ather Energy Pvt. Ltd. - Key offerings
- SWOT
14.6 ATUL Auto Ltd.
- ATUL Auto Ltd. - Overview
- ATUL Auto Ltd. - Product / Service
- ATUL Auto Ltd. - Key offerings
- SWOT
14.7 Bajaj Auto Ltd.
- Bajaj Auto Ltd. - Overview
- Bajaj Auto Ltd. - Business segments
- Bajaj Auto Ltd. - Key offerings
- Bajaj Auto Ltd. - Segment focus
- SWOT
14.8 Hero Eco Group
- Hero Eco Group - Overview
- Hero Eco Group - Product / Service
- Hero Eco Group - Key offerings
- SWOT
14.9 Hyundai Motor Co.
- Hyundai Motor Co. - Overview
- Hyundai Motor Co. - Business segments
- Hyundai Motor Co. - Key news
- Hyundai Motor Co. - Key offerings
- Hyundai Motor Co. - Segment focus
- SWOT
14.10 Jitendra wheels
- Jitendra wheels - Overview
- Jitendra wheels - Product / Service
- Jitendra wheels - Key news
- Jitendra wheels - Key offerings
- SWOT
14.11 Mahindra and Mahindra Ltd.
- Mahindra and Mahindra Ltd. - Overview
- Mahindra and Mahindra Ltd. - Business segments
- Mahindra and Mahindra Ltd. - Key news
- Mahindra and Mahindra Ltd. - Key offerings
- Mahindra and Mahindra Ltd. - Segment focus
- SWOT
14.12 Maini Corporate Pvt Ltd.
- Maini Corporate Pvt Ltd. - Overview
- Maini Corporate Pvt Ltd. - Product / Service
- Maini Corporate Pvt Ltd. - Key offerings
- SWOT
14.13 RattanIndia Enterprises Limited
- RattanIndia Enterprises Limited - Overview
- RattanIndia Enterprises Limited - Product / Service
- RattanIndia Enterprises Limited - Key offerings
- SWOT
14.14 SAIC Motor Corp. Ltd.
- SAIC Motor Corp. Ltd. - Overview
- SAIC Motor Corp. Ltd. - Business segments
- SAIC Motor Corp. Ltd. - Key offerings
- SAIC Motor Corp. Ltd. - Segment focus
- SWOT
14.15 Suzuki Motor Corp.
- Suzuki Motor Corp. - Overview
- Suzuki Motor Corp. - Business segments
- Suzuki Motor Corp. - Key offerings
- Suzuki Motor Corp. - Segment focus
- SWOT
14.16 Tata Sons Pvt. Ltd.
- Tata Sons Pvt. Ltd. - Overview
- Tata Sons Pvt. Ltd. - Product / Service
- Tata Sons Pvt. Ltd. - Key news
- Tata Sons Pvt. Ltd. - Key offerings
- SWOT
14.17 TVS Motor Co.
- TVS Motor Co. - Overview
- TVS Motor Co. - Business segments
- TVS Motor Co. - Key offerings
- TVS Motor Co. - Segment focus
- SWOT
14.18 Ultraviolette Automotive Pvt Ltd.
- Ultraviolette Automotive Pvt Ltd. - Overview
- Ultraviolette Automotive Pvt Ltd. - Product / Service
- Ultraviolette Automotive Pvt Ltd. - Key offerings
- SWOT

15 Appendix

15.1 Scope of the report
15.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
15.3 Currency conversion rates for US$
- Currency conversion rates for US$
15.4 Research methodology
- Research methodology
15.5 Data procurement
- Information sources
15.6 Data validation
- Data validation
15.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
15.8 Data synthesis
- Data synthesis
15.9 360 degree market analysis
- 360 degree market analysis
15.10 List of abbreviations
- List of abbreviations