India electric vehicle markets 2023-2024 & 2030 – ResearchAndMarkets.com

Press Release, October 21, 2024

This study provides analysis of several key areas influencing the Indian electric vehicle (EV) market. It explores the current industry trends shaping the EV landscape in India, focusing on factors that drive adoption and growth. The report also examines the regional and state-level variations in EV adoption, highlighting areas with higher EV penetration and examining the reasons behind these trends.

The adoption of electric four-wheelers in India is growing at a promising pace, making it a major market for global companies. The growth of the electric vehicle (EV) market in the country is predominantly driven by government initiatives and incentives, as well as environmental awareness.

To keep up with the growing demand, global and domestic companies are on the verge of launching new EV models in the Indian market, which not only opens significant opportunities for charging infrastructure providers and battery technology companies but also paves the way for innovative financing business models, enhances local EV component manufacturing capability, and encourages private and public companies to electrify their fleets; for example, last-mile delivery service companies shifting to EVs will see a significant spike.

In addition, the study looks at the contributions of major original equipment manufacturers (OEMs) to EV sales, offering insight into the market share and impact of leading automotive companies in India’s EV sector. Furthermore, the report provides an overview of the subsidies and incentives offered by key state contributors, detailing how these financial and policy-based supports are facilitating the expansion of the EV market across the country.

India Electric Vehicle Market Opportunities Include

• Reduced Import Duty to Accelerate EV Manufacturing Localization
• Low-cost Production
• Ample Scope for Partnerships to Create an EV Support System

Key Topics Covered:

Transformation in the Indian Electric Vehicle Market

• Why is it Increasingly Difficult to Grow?
• The Strategic Imperative
• The Impact of the Top 3 Strategic Imperatives on the Indian EV Market

Ecosystem

• The Indian EV Market: Overview
• Research Methodology
• Questions This Study Will Answer
• Regional Segmentation
• Competitive Environment
• Key Competitors
• EV Distribution Channels

Global Electric Vehicle Market: Overview

• Global EV Market: 2023 and 2024e
• Global EV Growth and Penetration: Key OEMs

Growth Generator

• Primary Findings: Current and Future Outlooks
• Key Growth Metrics
• Growth Drivers
• Growth Restraints
• Potential Trends Impacting Market Growth
• Forecast Considerations
• Indian EV Market: 2023 and 2024e
• EV Adoption by Regions: 2023 Comparison Summary
• India: EV Sales Forecast
• EV Sales Forecast by Regions
• EV Unit Sales Share and Market Share by OEMs, 2023
• Primary EV Production Capacity in India: Summary

Northern Region Electric Vehicle Market: Overview

• Key Growth Metrics
• Regional Overview: Northern Region

Northeastern Region Electric Vehicle Market: Overview

• Key Growth Metrics
• Regional Overview: Northeastern Region

Eastern Region Electric Vehicle Market: Overview

• Key Growth Metrics
• Regional Overview: Eastern Region

Central Region Electric Vehicle Market: Overview

• Key Growth Metrics
• Regional Overview: Central Region

Western Region Electric Vehicle Market: Overview

• Key Growth Metrics
• Regional Overview: Western Region

Southern Region Electric Vehicle Market: Overview

• Key Growth Metrics
• Regional Overview: Southern Region

FAME Scheme and Incentives: Overview

• Number of FAME II Certified Models by OEMs
• Analysis of Incentive Variations by Performance/Efficiency
• Analysis of Incentive Variations by Battery Features

Electric Vehicle Investments

• Primary Participants’ Recent Developments

Key Contributors: Exhibits

• Tata Motors
• SAIC (MG Motor)
• M&M

Best Practices Recognition

For more information about this report visit https://www.researchandmarkets.com/r/puo6iq

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