Major driver in Indian electric vehicle market is government initiative and policies to support the deployment and adoption of electric vehicle across the country. The FAME scheme introduced by the Indian government offers subsidy on the retail price of electric vehicles ranging from USD 165 to USD 2,010 which is applicable for all electric vehicle segments.
The India electric vehicle market to grow at a CAGR of 100% during the period 2016-2024. Moreover, Indian electric vehicles sales reached to 22,000 thousand vehicles in 2016 with sales increased by 37.5% as compared to the 2015 and is poised to rise on the back of declining cost of lithium ion batteries and favorable government initiatives and policies with a vision to achieve 6 million electric and hybrid vehicles in India by 2020.
The key players in the India electric vehicle market: Toyota, Maruti Suzuki, Mahindra Motors, BMW, Tata Motors, Lohia Auto Industries, Heroelectric and BSA Motors, TVS.
India electric vehicle market by technology type: Hybrid Electric Vehicles and Battery Electric Vehicles.
India electric vehicle market by vehicle type: Passenger Cars, Commercial Vehicles, Two Wheelers and E-Rickshaws.
India electric vehicle market by geography: Tier- I Cities Electric Vehicle Market, Tier- II Cities Electric Vehicle Market and Tier- III Cities Electric Vehicle Market.
Key questions answered in this India electric vehicle market report:
- What is the total market size by 2024 and what would be the expected growth rate of sales?
- What are the total sales in 2015-16 (Units) and what would be the expected demand over the forecast period?
- What are the key market trends?
- What are the factors which are driving this market?
- What are the major barriers to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities for the existing and entry level players?
- What are the recent developments and business strategy of the key players?
Table of Contents:
- Regional Opportunity Analysis on the basis of Competitors
- India Electric Vehicle Market Size (USD Billion) and Forecast Analysis, 2016-2024
- Market Dynamics: Growth Drivers, Restraints and Opportunities
- India Electric Vehicle Market Segmentation
- Competitive Outlook
- Porter’s Five Force Model
- Market Landscape: Competition and Beyond
- Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
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