India Electric Vehicle Market Growth, Industry Size-Share, Technology, Diagnosis, Global Trends, Key Players Strategies and Upcoming Demand
In
current times, the importance of electric vehicle has grown drastically and the
growth of AC Charging/ Normal Charging Station, DC Charging/ Super Charging
Station and Inductive Charging Station based services across India. In
addition, growing demand for electric vehicle of different power output and
vehicle class in various sectors has fuel the boom of market. Data Bridge
Market Research analyses that the India
electric vehicle market will grow at a CAGR of 25.1% during the forecast
period of 2022 to 2029.
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Current status and future
aspirations of India in the EV sector
- The Indian automobile sector ranks fifth
globally and is expected to rise to third by 2030. India is the world's
largest producer of two and three-wheelers, the second-largest
manufacturer of buses, and the biggest producer of vehicles like tractors
- Currently, the automobile industry contributes
7.1% of India's Gross Domestic Product (GDP) and 49% of its
manufacturing GDP. This means that this significantly impacts the nation's
economy. This suggests that, as they follow the trends, numerous auto
ancillaries and associated sectors will grow along with the EV industry in
the upcoming years.
- India's automotive industry is worth around
%222 Bn, while the EV market in India is estimated to be valued at $2 Bn
by 2023 and $7.09 Bn by 2025. Further, the automotive industry accounts
for 8% of all national exports. This sector accounts for 40% of
the total $31 Bn of global research and development spend [Research and
Development (R&D wing)]
- There are a total of 13, 92,265 EVs on Indian
roads as on August 2022 (data by Ministry of Road Transport and Highways,
India). By 2030, this will likely increase by 45–50 Mn EVs on the road.
- Currently, the automotive sector employs
around 37 Mn people, and by 2030, it aspires to generate 50 Mn direct and
indirect jobs.
- By 2030, the EV market is anticipated to reach
10 Mn annual sales, growing at a Compound Annual Growth Rate (CAGR) of
49% between 2022 and 2030
- Between April 2000 and March 2022, the sector
attracted equity inflows from Foreign Direct Investment (FDI) of $ 32.84
Bn, or 6% of all FDI in equities during that time.
India electric vehicle market is segmented on the
basis of the power output, vehicle class, electric motor type, charging station
type, level type, number of wheels, and propulsion type . The growth amongst
these segments will help you analyse meagre growth segments in the industries
and provide the users with a valuable market overview and market insights to help
them make strategic decisions for identifying core market applications.
Power Output
- Less than 100 KW
- 100 to 250 KW
- More than 250 KW
On the basis of the power output, India electric
vehicle market is segmented into less than 100 KW, 100 to 250 KW and more than
250 KW.
Vehicle Class
- Mid-Priced
- Luxury
On the basis of the vehicle class, India electric
vehicle market is segmented into mid-priced and luxury.
Electric Motor Type
- DC Motors
- Brushless DC Motors
- Permanent Magnet Synchronous Motors
- Three Phase Induction Motors
On the basis of electric motor type, India electric
vehicle market is segmented into DC motors, brushless DC motors, permanent
magnet synchronous motors and three phase induction motors.
Charging Station Type
- Normal Charging
- Super Charging
On the basis of the charging station type, India
electric vehicle market is segmented into normal charging, and super charging.
Level Type
- Level 1
- Level 2
- Level 3
On the basis of the Level type, India electric
vehicle market is segmented into Level 1, Level 2, Level 3.
Number of Wheels
- Two Wheeler
- Three Wheeler
- Four Wheeler
On the basis of the number of wheels, India
electric vehicle market is segmented into two wheelers, three wheelers and four
wheelers.
Propulsion Type
- BEV
- FCEV
- PHEV
- HEV
Highlight of Table of Content:
·
Chapter 1: Market overview
·
Chapter 2: India Electric Vehicle Market Analysis
·
Chapter 3: Regional analysis of the India Electric Vehicle Market
·
Chapter 4: Market segmentation based on types and applications
·
Chapter 5: Revenue analysis based on types and applications
·
Chapter 6: Market share
·
Chapter 7: Competitive Landscape
·
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
·
Chapter 9: Gross Margin and Price Analysis
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Profound Questions Answered in this Report:
·
What is the growth rate of various
stages in the value chain of the industry?
·
Which region has the highest growth
rate and size of the emerging market by value in 2022?
·
Who are the competitive players in India Electric
Vehicle Market?
·
Which region has the largest share
and degree of competition in the industry?
·
What is the CAGR of the market
during the forecast period 2022 to 2029?
·
Which region is expected to hold the
highest market share for the market?
·
What is the main driver of the India Electric
Vehicle Market?
·
What is sales volume, revenue, and
price analysis of top players of the market?
·
What are the market opportunities
and threats faced by the vendors in the industry?
·
What has been the impact of COVID-19
on the India Electric Vehicle Market?
Asceses
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