Indian Electric Vehicle Market
Posted by pallavi on January 6th, 2021
Indian Electric Vehicle Market is expected to grow at CAGR of 30 % over the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Indian electric vehicle market is segmented by technology, by power source, by vehicle type and by powertrain. Based on technology, Indian electric vehicle market is segmented by hybrid electric vehicle, plug-in hybrid electric vehicle, battery electric vehicle. In terms of power source Indian electric vehicle market is bifurcated into stored electricity, on-board electric, 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.
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.
Indian Electric Vehicles Market By Powertrain Type
Two wheeler vehicle segment dominated the Indian electric vehicle market in 2017. 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 and is estimated to dominate the Indian electric vehicles market with 84.4% 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.
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.
The objective of the report is to present comprehensive analysis of Indian Electric Vehicles Market, by geography for automotive including all the stakeholders of the industry. The past and current status of the industry with 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 industry with 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 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.
For More Information Visit :
Indian Electric Vehicles Market By Technology Type
• Hybrid Electric Vehicle
• Stored Electricity
• Two Wheelers
• Series Hybrid
• Mahindra & Mahindra Ltd.
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About the Authorpallavi
Joined: July 22nd, 2019
Articles Posted: 132
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