India Electric Car Market Size, Share, Trends, Sales 2032

India Electric Car Market: Industry Perspective

The India electric car market size was worth around USD 3.16 billion in 2023 and is predicted to grow to around USD 48.66 billion by 2032 with a compound annual growth rate (CAGR) of roughly 35.49% between 2024 and 2032.

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The report analyzes and forecasts India's electric car market at the country level. The study offers past data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). Assessment of India's electric car market dynamics gives a brief thought about the drivers and restraints for the Indian electric car market along with the impact they have on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the Indian electric car market on a country level.

The report gives a transparent view of the Indian electric car market. We have included a detailed competitive scenario and portfolio of leading vendors operative in the Indian electric car market. To understand the competitive landscape in the Indian electric car market, an analysis of Porter’s Five Forces model for the India electric car market has also been included. The study encompasses a market attractiveness analysis, wherein technology, battery, product, and end-user segments are benchmarked based on their market size, growth rate, and general attractiveness.

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India Electric Car Market: Segmentation Analysis

The study provides a crucial view of the Indian electric car by segmenting the market based on technology, battery, product, and end-user. All the segments of India's electric car market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on technology, India electric car market is bifurcated into battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. LFP, Li-NMC, and others form the battery segment of India electric car market. Hatchback, sedan, SUV and others are the product segment for India electric car market.

The end-user segment, is divided into shared mobility providers, government organizations, personal users and others.

India Electric Car Market: Report Scope

Key Market Players & Competitive Landscape:

The competitive profiling of noticeable players of India electric car market includes company and financial overview, business strategies adopted by them, their recent developments and products offered by them which can help in assessing competition in the market. Noticeable players included in the report are:

• Tata
• BMW AG
• Toyota Kirloskar Motor Pvt. Ltd.
• Volvo Car Corporation
• Honda Motor Co. Ltd
• Tesla
• Renault Motors
• Audi AG 
• Volvo Car Corporation

The report segment of India electric car market as follows:

India Electric Car Market: Technology Segment Analysis

• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-in Hybrid Electric Vehicle

India Electric Car Market: Battery Segment Analysis

• LFP
• Li-NMC
• Others

India Electric Car Market: Product Segment Analysis

• Hatchback
• Sedan
• SUV
• Others

India Electric Car Market: End-User Segment Analysis

• Shared mobility providers
• Government organizations
• Personal users
• Others

India Electric Car Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa