openPR Logo
Press release

India Electric Car Market to Surpass USD78,190.10 million by FY2027

11-10-2021 01:26 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: TechSci Research

India Electric Car Market to Surpass USD78,190.10 million

According to TechSci Research report, “India Electric Car Market By Vehicle (SUV & MPV, Sedan, Hatchback), By Drivetrain (FWD, RWD, AWD), By Battery Capacity (Below 25 KWH, 25KWH-40KWH, Above 40KWH), By Company, By Region, Forecast & Opportunities, FY2027”, India electric car market generated a revenue of USD10,107.18 million in FY2021 and it is expected to be valued at USD78,190.10 million in 2026, growing at a CAGR of 41.02% during the forecast period. India electric car market is expected to witness steady growth for the next five years. Favorable government policies and financial aids in terms of subsidies, income tax rebates and other non-financial benefits are the major drivers for electric car market’s growth. Introduction of new electric cars by vehicle manufacturing companies to widen the product portfolio is contributing significantly to high demand of the market for the next five years. Government initiatives such as Make in India to boost the production of electric cars and the charging infrastructure is creating new avenues for the growth of the market. Implementation of BS VI norms by leading authorities to reduce carbon emissions into the environment is fueling the demand for electric cars in India. High-end investments by electric automobile manufacturers to provide electric cars in different segments and technological evolutions to upgrade the existing electric car infrastructure is expected to account for major growth of the market in the predicted period.

Due to the COVID-19 pandemic, lockdown was imposed all over the country. Complete shutdown was observed, and people started practicing social distancing following the precautionary measures. Imposition of strict regulations and policies by leading authorities, led to the shutdown of manufacturing units in the country. Movement of workers from working locations to their native homes led to shortage of skilled labors for the production of electric cars. After the lockdown is lifted, the electric cars market is expected to pick up the pace eventually. However, lack of sufficient electric cars charging stations may hamper market growth during the forecast period. However, growth in domestic manufacturing is among the major factors expected to drive the electric car market in India. Some of the domestic manufacturers are increasing their focus on manufacturing electric cars as customers are increasingly shifting to electric vehicles on account of environmental concerns and cost effectiveness. Growth in domestic manufacturing coupled with government support would continue to positively impact the production and sales scenario of the electric car market in India over the course of next five years.

Browse 24 Figures spread through 70 Pages and an in-depth TOC on “India Electric Car Market”.

https://www.techsciresearch.com/report/india-electric-car-market/7981.html

India electric car market is segmented into vehicle type, drivetrain, battery capacity, regional distribution, and company. Based on battery capacity, the market is further divided into below 25 KWH, 25KWH-40KWH, and above 40KWH. Electric cars in the above 40KWH segment are accounted for the major market share in FY2021. Higher subsidies offered by the government compared to its counterparts is the major factor accelerating the growth of this segment. Availability of different models for battery electric car, declining battery costs coupled with minimal upfront costs are important factors bolstering the growth of the electric car market in India.

Tata Motors Limited, MG Motors India, Hyundai Motor Company, Mahindra Electric Mobility Limited, Toyota Kirloskar Motor (Toyota), Honda Cars India Limited (Honda Cars), Renault India Private Limited, Tesla Inc., and others are the leading players operating in the India electric car market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several electric car manufacturers are coming up with their technologically advanced offerings.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=7981

Customers can also request for 10% free customization on this report.

“Electric car market is still at a nascent stage and consists of huge untapped potential for tremendous market growth. Presence of supportive government policies allowing 100 foreign investments in automatic route is boosting the market. Major companies are setting-up electric cars production units due to financial aids and high demand for electric cars. Expansion of charging infrastructure of electric cars and domestic manufacturing of batteries is leading to high market growth throughout the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“India Electric Car Market By Vehicle (SUV & MPV, Sedan, Hatchback), By Drivetrain (FWD, RWD, AWD), By Battery Capacity (Below 25 KWH, 25KWH-40KWH, Above 40KWH), By Company, By Region, Forecast & Opportunities, FY2027” has evaluated the future growth potential of India electric car market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India electric car market.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release India Electric Car Market to Surpass USD78,190.10 million by FY2027 here

News-ID: 2457610 • Views:

More Releases from TechSci Research

Small Arms and Light Weapons Market to Grow at 6.59% CAGR Through 2029 - TechSci Research
Small Arms and Light Weapons Market to Grow at 6.59% CAGR Through 2029 - TechSci …
"Military modernization initiatives worldwide drive demand for advanced and modular SALW, emphasizing technological innovation are the factors driving Small Arms and Light Weapons market in the forecast period 2025-2029." According to TechSci Research report, "Small Arms and Light Weapons Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029", The Global Small Arms and Light Weapons Market stood at USD 13.75 Billion in 2023 and is anticipated to grow
Anticipating Growth: Luxury Sunglasses Market to Reach US$ 14.86 Billion with a 4.2% CAGR by 2029 | TechSci Research
Anticipating Growth: Luxury Sunglasses Market to Reach US$ 14.86 Billion with a …
TechSci Research's report on the "Global Luxury Sunglasses Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029" reveals that the market reached USD 14.86 billion in 2023, projecting a 4.2% CAGR from 2025 to 2029. This market segment thrives within the broader eyewear industry, offering high-end, premium sunglasses to discerning consumers seeking exclusivity and sophistication. Driven by evolving fashion trends, increasing disposable incomes, and growing brand consciousness, the
Tea Bar Machine Market Projected to Achieve USD 1.54 Billion by 2028 | Insights from TechSci Research Report
Tea Bar Machine Market Projected to Achieve USD 1.54 Billion by 2028 | Insights …
TechSci Research's report, "Global Tea Bar Machine Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028," states that the market reached USD 1.54 billion in 2022, with an expected 10.45% CAGR in the forecast period 2024-2028. The dynamic Tea Bar Machine Market experiences significant global growth, driven by changing consumer preferences for healthier, customizable beverages. Embracing technological advancements, including smart features and sustainability, the market meets commercial establishments'
Electrolyte Drinks Market Projected to Reach USD 1.43 Billion with a Remarkable 4.25% CAGR by 2028, Featuring Size, Share, Trends, Growth, and Revenue Outlook
Electrolyte Drinks Market Projected to Reach USD 1.43 Billion with a Remarkable …
According to TechSci Research's "Global Electrolyte Drinks Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028," the market reached USD 1.43 billion in 2022, with an expected 4.25% CAGR in the forecast period 2024-2028. The global electrolyte drinks market has transformed into a dynamic sector within the beverage industry, experiencing substantial growth driven by increased awareness of hydration importance, a health-conscious consumer base, and preferences for functional beverages.

All 5 Releases


More Releases for India

Ayurvedic Service Market is Flourishing Like Never Before | Patanjali Ayurved Li …
RnM newly added a research report on the Ayurvedic Service market, which represents a study for the period from 2020 to 2026. The research study provides a near look at the market scenario and dynamics impacting its growth. This report highlights the crucial developments along with other events happening in the market which are marking on the growth and opening doors for future growth in the coming years. Additionally, the
Pasta Market Report 2019 Companies included Bambino (India), Nestle (USA), Field …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2019 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2019 to 2025, etc. The report also provides detailed segmentation on the
Pasta Market Report 2018 Companies included Bambino (India), Nestle (USA), Field …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com ********* This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides
Interior Designers India, Designers and Architects India, Interior Design Consul …
Synergy Corporate Interiors Pvt. Ltd. are offer Designers and Architects India Our architects, designers are working an national and international client base. The final design output is then integrated with the various technical and engineering aspects and taken into production. The expression is also individualistic, based on the communication of the correct corporate identity. Our designers, engineers and architects perform any plan successfully combine handy knowledge with creative ideas into
Domain Registration India, Web Hosting India, VPS Hosting India , SSL Certificat …
All the Domain Registration services are at affordable price and assure you for the 100% quality. India Internet offers cheap domain name registration for many domain extensions available. We are a full-service web site solutions provider. We offer a full range of web services including domain registration India, Web Hosting India, Web design, SEO marketing and etc. We offer different standard and different Windows .NET low-cost, full-featured, all-inclusive web hosting and domain
Domain Registration India, Web Hosting India, Payment Gateway India
Indiainternet.in is a Quality Web Hosting Company India, provide all web related support and Web hosting services like linux web hosting, windows web hosting, web hosting packages, domain registration in india, Corporate email solution, business email hosting, payment gateway integration, SSL with supports like free php, cgi, asp, free msaccess, free cdonts, free webmail, web based control panel, unlimited ftp access, unlimited data transfer. During the domain registration process, you will