Indian Electric Vehicle Market is segmented by technology (hybrid electric vehicle, plug-in hybrid electric vehicle, battery electric vehicle), by power source (stored electricity, on-board electric, generator), by vehicle (Two wheelers, passenger cars, commercial vehicles, others) and by powertrain (hybrid, parallel hybrid, combined hybrid). is expected to grow at CAGR of 30 % over the forecast period.
Indian is aiming to reduce its overall oil import expense and pollution levels across cities, electric vehicles will play a remarkable role in achieving the target. Strong government support and hike in crude oil prices drives the electric vehicle market in Indian. Government of Indian will ban petrol and diesel cars by 2030. This means that petrol/diesel cars won’t be allowed on the road after 2030 only electric cars will be sold. Government’s ban on petrol and diesel car is powerful endorsement of electric, green technology, and can change 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 potential opportunity for electric vehicle in Indian. Low maintenance and operations costs of electric vehicles coupled with drop in battery price favours the E-Vehicle adoption.
Passenger cars is anticipated to grow at high CAGR.
Government plan to ban diesel and petrol passenger cars will lead to high sale. Attributed to this passenger cars segment is expected to hold 70 % of the Indian electric vehicles market share by 2026.
Stored electricity segment is anticipated to be the most lucrative segment in the Indian electric vehicles market
Stored electricity is estimated to dominate the Indian electric vehicles market with 80 % market revenue share in 2017. 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 encourage 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 toward 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.
This report includes a study of marketing and development strategies, along with the Vehicleportfolios of leading companies. It includes the profiles of leading manufacturers such as 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. and Tunwal E-Vehicle Indian Pvt. Ltd.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Indian electric vehicle market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Indian electric vehicle market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Indian electric vehicle market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Indian Electric Vehicle Market”.
https://www.maximizemarketresearch.com/market-report/indian-electric-vehicle-market/14886/
Contact:
MAXIMIZE MARKET RESEARCH PVT. LTD.
Omkar Heights, Manik Baug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
+91 96071 95908/ 20 6630 3320