Press release
India Electric Vehicle Market Size Worth US$ 139.22 Billion by 2030 With CAGR of 24.31 percentage
India Electric Vehicle Market
India Electric Vehicle Market size was valued at US$ 30.35 Bn. in 2023 and the total revenue is expected to grow at 24.31% from 2024 to 2030, reaching US$ 139.22 Bn.
India Electric Vehicle Market Overview:
The Indian electric vehicle (EV) market is experiencing dynamic growth, driven by increasing vehicle emissions in major cities and rising awareness about pollution's impact on health and the environment. High transportation fuel costs, including petrol and diesel, are accelerating EV adoption. The Indian government's supportive policies, such as financial aids and subsidies, are further propelling the market. India is evolving into a significant hub for EV design and manufacturing, with substantial investments from global OEMs and a focus on localizing production. This transformation is bolstered by the automotive sector's significant R&D expenditure, reflecting the sector's strategic importance.
๐๐จ๐ฎ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฌ ๐๐ฎ๐ฌ๐ญ ๐ ๐๐ฅ๐ข๐๐ค ๐๐ฐ๐๐ฒ!https://www.maximizemarketresearch.com/request-sample/127142/
Drivers in the India Electric Vehicle Market:
The Indian EV market is primarily driven by the need to reduce oil imports, as the country relies heavily on crude oil, impacting the economy due to price fluctuations. Transitioning to electric vehicles offers a solution by decreasing oil dependence and enabling funds to be redirected towards necessary EV infrastructure. Additionally, declining lithium-ion battery costs and increased domestic production under the 'Make in India' initiative are fostering EV adoption. Advanced technologies integrated into EVs, such as GPS and anti-theft systems, also contribute to the market's growth.
India Electric Vehicle Market Trends:
The Indian EV market is witnessing a notable shift with the declining costs of lithium-ion batteries, which fell to $139 per kilowatt-hour in 2023. This trend reflects broader global movements towards renewable energy and efficient energy storage solutions. Despite EVs representing a small percentage of total vehicle sales, with passenger cars at 2% and two-wheelers at 5%, the Indian government's ambitious target of 30% EV penetration by 2030 signifies a significant growth trajectory. This target underscores a commitment to reducing carbon emissions and enhancing sustainable transportation.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ + ๐๐ซ๐๐ฉ๐ก๐ฌ ๐๐๐ซ๐:๏ปฟhttps://www.maximizemarketresearch.com/inquiry-before-buying/127142/
India Electric Vehicle Market Opportunities:
The Indian EV market presents substantial opportunities for growth, driven by the entry of new companies and technological advancements. Major global players, including Tesla and Apple, are investing heavily in India's EV sector, signaling a competitive landscape and diverse options for consumers. This influx of investment is expected to drive innovation and infrastructure development, creating opportunities for both established and emerging companies. Additionally, the government's policies and incentives, such as reduced GST and support for charging infrastructure, offer a favorable environment for expanding EV adoption.
What is India Electric Vehicle Market Regional Insight?
In India, the electric vehicle market is most vibrant in Uttar Pradesh, Delhi, and Karnataka, which lead in EV registrations. Uttar Pradesh tops the list with over 255,000 registered electric vehicles, followed by Delhi with 125,000 and Karnataka with 72,500 units. Other notable states include Bihar and Maharashtra, with 58,000 and 52,500 registered EVs, respectively. The Maharashtra government's incentives, including subsidies for battery capacity and exemptions from road tax, alongside central government initiatives like GST reductions on EVs and charging infrastructure, are crucial in driving regional growth and adoption.
๐๐ฎ๐ซ๐ข๐จ๐ฎ๐ฌ ๐ญ๐จ ๐ฉ๐๐๐ค ๐ข๐ง๐ฌ๐ข๐๐? ๐๐ซ๐๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ:๏ปฟhttps://www.maximizemarketresearch.com/request-sample/127142/
Segmentation Analysis of the India Electric Vehicle Market
by Vehicle Type
Two-wheeler
Three-wheeler
Passenger cars
Commercial vehicles
by Technology
Battery electric vehicle (BEV)
Plug-in hybrid electric vehicle (HEV)
Fuel cell electric vehicle
Who is the largest manufacturers of India Electric Vehicle Market worldwide?
Passenger Cars EV
1. Tata Motors
2. MG Motors
3. Mahindra & Mahindra
4. Hyundai
Buses EV
5. Olectra
6. JBM Auto
7. BYD
8. Switch Mobility
9. Tata Motors
10. Eicher Volvo
Three-Wheelers
11. YC Electric Vehicle
12. Mahindra & Mahindra
13. Piaggio
14. Dili Electric Auto
15. Saera Electric Auto
16. TVS
Two-Wheelers
17. Ola Electric
18. TVS
19. ATHER
20. Bajaj
21. Ampere
22. Okinawa
23. Hero Electric
24. Others
๐๐๐ญ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐๐ง ๐๐ก๐ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ @https://www.maximizemarketresearch.com/market-report/india-electric-vehicle-market-outlook-key-findings-market/127142/ ๏ปฟ
Key Offerings:
Past Market Size and Competitive Landscape
India Electric Vehicle Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
India Electric Vehicle Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
Explore our top-performing reports on the latest trends:
โฆ Current Sensor Market https://www.maximizemarketresearch.com/market-report/global-current-sensor-market/29865/
โฆ Cleaning Robot Market https://www.maximizemarketresearch.com/market-report/cleaning-robot-market/868/
โฆ Supercapacitor Market https://www.maximizemarketresearch.com/market-report/global-supercapacitor-market/57898/
โฆ Consumer Electronics Sensor Market https://www.maximizemarketresearch.com/market-report/global-consumer-electronics-sensor-market/117099/
โฆ Vision Positioning Market https://www.maximizemarketresearch.com/market-report/global-vision-positioning-market/31137/
โฆ Laser Printer Market https://www.maximizemarketresearch.com/market-report/global-laser-printer-market/60624/
โฆ Talc Market https://www.maximizemarketresearch.com/market-report/global-talc-market/12607/
Contact Maximize Market Research:
MAXIMIZE MARKET RESEARCH PVT. LTD.
โฎ 3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
โ +91 9607365656
๐ sales@maximizemarketresearch.com
๐ www.maximizemarketresearch.com
About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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 Vehicle Market Size Worth US$ 139.22 Billion by 2030 With CAGR of 24.31 percentage here
News-ID: 3617297 • Views: โฆ
More Releases from MAXIMIZE MARKET RESEARCH PVT. LTD
Ultrafiltered Milk Market Valued at USD 8.36 Billion in 2024, Anticipated to Gro โฆ
The Ultrafiltered Milk Market size was valued at USD 8.36 Billion in 2024 and the total Ultrafiltered Milk revenue is expected to grow at a CAGR of 4.6% from 2025 to 2032, reaching nearly USD 11.99 Billion.
Ultrafiltered Milk Market Overview:
Ultrafiltered milk is gaining increasing attention in the dairy and functional food sectors thanks to its enhanced nutritional profile. Through a specialized membrane filtration process, ultrafiltration concentrates higher-molecular weight componentsโฆ
Bath Towel Market to Grow from USD 10.46 Billion by 2032 at a CAGR of 6.7 %
The Bath Towel Market size reached USD 6.23 Bn in 2024 and is expected to reach USD 10.46 Bn by 2032, growing at a CAGR of 6.7 % during the forecast period.
Bath Towel Market Overview:
The bath towel industry is witnessing steady expansion, fueled by consumers' increasing focus on hygiene, comfort, and home aesthetics. High demand for plush, absorbent towels made of luxury materials such as Egyptian cotton, Turkish cotton,โฆ
Carob Market to Reach USD 374.76 Million by 2032 Growing at a 5.3% CAGR
The global Carob Market was valued at USD 247.92 million in 2024 and is projected to reach USD 374.76 million by 2032, expanding at a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2025 to 2032.
Carob Market Overview:
The carob market is experiencing significant growth, driven by its increasing popularity as a natural sweetener and plant-based alternative to chocolate. Derived from the seed pods of the carobโฆ
Welding Electrode Market Expected To Reach USD 11.27 Bn by 2032
The Welding Electrode Market size was valued at USD 5.70 Billion in 2024 and the total Welding Electrode revenue is expected to grow at a CAGR of 8.9 % from 2025 to 2032, reaching nearly USD 11.27 Billion.
Welding Electrode Market Overview:
The Welding Electrode Market is evolving as a critical segment within the global manufacturing and construction industries. Welding electrodes are essential consumables that enable reliable and efficient joining ofโฆ
More Releases for India
India Smart Air Purifier Market Set to Witness Significant Growth by 2035 | Phil โฆ
India smart air purifier market was valued at $125.8 million in 2024 and is projected to reach $298.7 million by 2035, growing at a CAGR of 8.3% during the forecast period (2025-2035).
India Smart Air Purifier Market Overview
The Indian smart air purifier market is experiencing significant growth, driven by increasing concerns over air pollution and its impact on health. Consumers are increasingly adopting smart air purifiers equipped with advanced featuresโฆ
Ayurvedic Service Market is Flourishing Like Never Before | Patanjali Ayurved Li โฆ
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, theโฆ
Pasta Market Report 2018 Companies included Bambino (India), Nestle (USA), Field โฆ
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 detailed segmentation on theโฆ
Interior Designers India, Designers and Architects India, Interior Design Consul โฆ
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 intoโฆ
Domain Registration India, Web Hosting India, VPS Hosting India , SSL Certificat โฆ
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 domainโฆ
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 willโฆ
