India's Electric Vehicles Market Slated to Touch at 77% CAGR during 2017-2025

In a new report published by Persistence Market Research titled “Electric Vehicle Market: India Industry Analysis (2012-2016) and Forecast (2017-2025),” it has been observed that the India electric vehicles market is expected to expand at a CAGR of 77% in terms of value during the forecast period. According to this report, market players are focusing on expanding their presence in India where the electric vehicles industry is growing at a rapid rate.

Key players operating in the market are focusing on entering into tie-ups with local vendors, distributors and aftermarket companies to promote their products. The electric vehicle market in India is anticipated to create lucrative opportunities for electric vehicle manufacturers as well as for vehicle component manufacturers in the near future. Owing to this fact, huge investments are already being planned by many key vendors in the Indian market to capitalize on the opportunities provided by the high potential market for electric vehicles in the subcontinent.

Request Sample Report@ https://www.persistencemarketresearch.com/samples/20800

By vehicle type, the India electric vehicles market is segmented into two-wheelers, passenger cars, commercial vehicles and others. The most preferred vehicle types in the current scenario are passenger cars and two wheelers, which will continue to dominate the electric vehicle market in the near future. The passenger cars segment is expected to hold three-fourths of the India electric vehicles market share by 2025 end.

The segmentation by technology comprises hybrid electric vehicles, plug-in hybrid electric vehicles and battery electric vehicles. Hybrid electric vehicles will be the most common vehicles plying on the road in the future. The battery electric vehicles segment is expected to dominate the India electric vehicles market throughout the forecast period. A large market share of the battery electric vehicles segment (about 85% in 2025) is owing to the high sales volume of two wheelers in India. (over 90% of pure battery powered two wheelers have been sold in India in 2016).

Download and View Report TOC, Figures and Tables @ https://www.persistencemarketresearch.com/market-research/india-electric-vehicles-market/toc

The power source segment includes stored electricity and on-board electricity. The stored electricity segment is expected to be the most attractive segment in the India electric vehicles market and is estimated to dominate the India electric vehicles market with 84.4% market revenue share in 2017.

On the basis of powertrain, the India market for electric vehicles is segmented into series hybrid, parallel hybrid and combined hybrid. Parallel hybrid is the most preferred type of powertrain in hybrid and plug-in hybrid vehicles owing to its advantages over other types of powertrains. This system is not included in battery electric vehicles as it requires both an internal combustion engine and an electric motor.

Mahindra & Mahindra Ltd., MARUTI SUZUKI INDIA 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 (India) 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 India Pvt. Ltd. are some of the key players operating in the India electric vehicles market.

Report overview @ https://www.persistencemarketresearch.com/market-research/india-electric-vehicles-market.asp

About Us

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us

Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353

Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.