India Electric Vehicle Ecosystem Market to Reach $216.3 Billion by 2030
Key Questions Answered in this Report: • Which vehicle type offers the most attractive growth prospect between 2019-2030 to EV manufacturers in different regions across India? • Which propulsion type across different vehicle types offers attractive growth opportunities between 2019-2030 for EV manufacturers across India and its regions? • Which type of battery has the highest demand in 2018 and offers the fastest growth opportunity between 2019-2030 for different types of vehicles across various regions in India? • What is the demand in number of units for different types of chargers in 2018 and how is it expected to grow from 2019-2030 across various regions? • How is the separator demand expected to shape-up with the growing local battery production between 2020-2030? • Which is the better possibility for Indian market based on the regulatory scenario: battery production or battery assembly? • What is the regulatory support for charging infrastructure establishment in India?
Indian Electric Vehicle Ecosystem Market Forecast, 2019-2030
In the Indian electric vehicle ecosystem market analyzed by BIS Research, the EV market is anticipated to grow at a robust CAGR of 43.13% during the forecast period from 2019 to 2030. Additionally, installation of charging infrastructure is projected to grow at a CAGR of 42.38%. With the entry of local battery manufacturers such as TATA Chemicals and BHEL alongside the import of batteries from global players, the electric vehicle battery market is expected to grow at a whooping CAGR of 60.15% during the forecast period.
The Indian electric vehicle ecosystem market is currently in a nascent phase.The government’s push to ensure EV adoption through subsidies and tax benefits has further propelled the market growth.
Despite the Indian automotive industry experiencing a sharp decline in FY2019, the electric vehicle market is expected to continue to grow in the coming years. With the BS6 norms becoming applicable from April 2020, the electric vehicles will become more price competitive with conventionally fueled vehicles, thus accelerating the electric vehicle sales in the country.
“the government target for 30% adoption of electric vehicles by 2030 will be majorly driven by the electrification of two-wheeler, three-wheeler, and commercial vehicles. Lower rate of adoption of electric vehicles in passenger vehicle segment is expected to have a limited impact in achieving the targets.”
Scope of the Indian Electric Vehicle Ecosystem Market
The Indian electric vehicle ecosystem market provides detailed market information for segmentation such as batteries, propulsion type, charger type, separator and region. The purpose of this market analysis is to examine the electric vehicle ecosystem market outlook in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market.
The Indian Electric Vehicles, Electric Vehicle Batteries and Electric Vehicle Charging Infrastructure Market is further segmented on the basis of separator type, charger type, vehicle type, battery type, and region. The three-wheeler dominated the Indian electric vehicles, electric vehicle batteries and electric vehicle charging infrastructure market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2030).
While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the industry under analysis. The report also analyzes the prevalence of different types of batteries used in various vehicle types.
The Indian electric vehicles, electric vehicle batteries and electric vehicle charging infrastructure market has been segregated on the basis of region into four major regions, namely North India, South India, East India, and West India.
Key Companies in the Indian Electric Vehicle Ecosystem Market
The key market players in the Indian electric vehicles ecosystem market include Amara Raja Batteries Ltd., Bharat Heavy Electricals Limited, Coslight India Telecom Pvt. Ltd., Eon Electric Limited, Exicom Power Solutions, EXIDE INDUSTRIES LTD., GREENFUEL, HBL Power Systems Ltd., Napino Auto & Electronics Ltd., Okaya Power Pvt. Ltd., Tata Chemicals Ltd., Trontek Group, ASHOK LEYLAND, Ather Energy, Emflux Motors, Olectra Greentech Limited, Hero Electric, Honda Motor Co., Ltd., Hyundai Motor India, JBM Auto Limited, LOHIA AUTO INDUSTRIES, Mahindra Electric Mobility Limited, MARUTI SUZUKI INDIA LIMITED, Tata Motors, Toyota Kirloskar Motor, Tunwal E-Bike India PVT. LTD., TVS MOTOR COMPANY, ABB, Delta Electronics, Inc., EV MOTORS INDIA PVT. LTD, Evteq Mobility Private Limited, Exicom Tele-Systems Limited, Indian Oil Corporation Ltd., JBM Group, NTPC Ltd., Panasonic Corporation, Reliance Infrastructure Limited, Tata power, and Vakrangee Limited.
Countries Covered • India
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250 pages •
By Global Industry Analysts
• Feb 2020
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