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India Electric Vehicle Market, By Vehicle Type (Passenger Car, LCV, M&HCV, Two-Wheeler, Three-Wheeler), By Propulsion (BEV, HEV, PHEV, FCEV), By Range (0-100 Km, 101-200 Km, Above 200 Km), By Charging Time (<5 Hr, 5-10 Hr, Above 10 Hr), By Region, By Top 10 States, By Competition Forecast & Opportunities, 2018- 2028F

India Electric Vehicle Market, By Vehicle Type (Passenger Car, LCV, M&HCV, Two-Wheeler, Three-Wheeler), By Propulsion (BEV, HEV, PHEV, FCEV), By Range (0-100 Km, 101-200 Km, Above 200 Km), By Charging Time (<5 Hr, 5-10 Hr, Above 10 Hr), By Region, By Top 10 States, By Competition Forecast & Opportunities, 2018- 2028F

India electric vehicle market is expected to grow from USD5,153.79 million in 2022 to USD14,910.33 million in 2028, growing with a CAGR of 19.81% in the forecast period. India is heading towards rapid adoption of green energy through various government initiatives, subsidies which in turn escalates sales of electric vehicles across the country to drive the India electric vehicle market in the upcoming years.

With rising pollution levels and the cost of fossil fuels, many countries are adopting green energy, and India is no exception. Electric vehicles are divided into four segments based on propulsion: BEV, HEV, PHEV, and FCEV. BEV, which is fully dependent on the battery, is gaining more popularity due to its zero emission. HEVs are powered by an internal combustion engine with one or more electric motors that use energy stored in batteries that cannot be charged separately. In PHEV, electric vehicles can use battery-powered motors and IC engines independently to run the vehicle. FCEVs, which are more efficient and produce no emissions than conventional IC engines, are powered by hydrogen. The demand for electric vehicles is increasing rapidly, owing to the increasing shift towards advanced technology and multiple government initiatives in India. Many companies emerge with their advanced technology and innovative product range keeping the budget-friendly cost of the vehicle.

Rising Popularity of Electric Vehicles in the Face of Climate Change
The government is prioritizing the shift toward clean mobility and faster adoption and manufacturing of electric vehicles under the FAME II scheme in India, making them more affordable. The two-wheeler segment holds the dominance in the electric vehicle market as many youngsters opt for electric two-wheelers for their daily needs and city ride. Also, COVID- 19 has helped the popularity of electric vehicles among customers at a gradual pace. The low cost of running the three-wheeler segment is rapidly increasing its sales. Many new players are emerging with their wide range of products which helps in market competitiveness. Under the Paris Climate Agreement, the Indian government endorses renewable and non-polluting forms of producing electricity.

Advancement in Technology
Rapid technological improvements in the areas of battery capacity enhancement, increasing affordability, more comfort, more battery range, less charging time, less maintenance, and a contribution to pollution management are all factors contributing to the India electric vehicle market growth. Lithium-ion batteries are fast gaining popularity because they offer more benefits over lead-acid batteries in terms of energy density, thereby offering greater range and faster charging time.

Reducing Oil Imports and Sustainable Energy Production
Due to rising oil prices and urban pollution, a move towards the adoption of green energy can be seen in India. According to a FICCI and Rocky Mountain Institute report titled 'Enabling India's Transition to Electric Mobility,' the country's shift toward electric mobility in the passenger vehicle sector could save up to USD300 billion in oil imports and nearly one gigaton of CO2 emissions by 2030. The government is promoting green energy by increasing environmental consciousness and focusing on cost-effective transportation.

Market Segmentation
The India electric vehicle market is segmented based on, by vehicle type, by propulsion, by battery capacity, by range, by charging time, by region, and by company. On the basis of vehicle type the market is segmented into passenger cars, LCV, M&HCV, two-wheelers, and three-wheeler. Furthermore, by passenger car into SUV/MPV, sedan, hatchback, by LCV into van and pickup truck, by M&HCV into buses and truck, by two-wheeler type into scooter/moped, motorcycle, by three-wheeler type into pickup and passenger carrier. Based on the propulsion, it is further segmented into BEV, HEV, PHEV, and FCEV. Based on the battery capacity (for passenger car, LCV, M&HCV) into <20 KWh, 20-50 KWh, above 50 KWh. Based on battery capacity (for two-wheeler, three-wheeler) into <5 KWh, 5-10 KWh, above 10 KWh. Based on range per charge into 0-100 Km,101-200 Km, above 200 Km. Based on charging time into <5 hrs, 5-10 hrs, above 10 hrs.
Company Profiles
Some of the major players which are leading in India electric vehicle market are Tata Motors Limited, MG Motor India Private Limited, Mahindra & Mahindra Limited, PMI Electro Mobility Solutions Private Limited, JBM Auto Ltd., Hero Electric Vehicles Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Greaves Electric Mobility Private Limited, YC Electric Vehicle, Saera Electric Auto Pvt. Ltd. Many new players are emerging with their technology and increasing competition in market. These players are investing in research and development, innovations to provide wide range of products. Tata motors limited with its strong presence dominates in passenger car segment. In LCV, Mahindra & Mahindra Limited has largest share. The M&HCV segment was led by PMI Electro Mobility Solutions Private Limited and followed by Tata Motors Limited. With large distribution network coupled with brand awareness Hero Electric Vehicles Pvt. Ltd. captures around 1/3rd market of electric two wheelers. In three-wheelers, YC Electric Vehicle comes on top followed by Saera Electric Auto Pvt. Ltd.


Report Scope:
In this report, India electric vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
•India Electric Vehicle Market, By Vehicle Type:
oTwo-Wheelers
oThree-Wheeler
oPassenger Car
oM&HCV
oLCV
•India Electric Vehicle Market, By Propulsion:
oBEV
oHEV
oPHEV
oFCEV
•India Electric Vehicle Market, By Range:
o0-100 Km
o101-200 Km
oAbove 200 Km
•India Electric Vehicle Market, By Charging Time:
o<5 Hr
o5-10 Hr
oAbove 10 Hr
•India Electric Vehicle Market, By Region:
oNorth
oSouth
oWest
oEast
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India electric vehicle market

Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
•Detailed analysis and profiling of additional market players (up to five).
Table of Contents

1.Product Overview
2.Research Methodology
3.Executive Summary
4.Impact of COVID-19 on India Electric Vehicle Market
5.Voice of Customer
5.1.Factors Influencing Purchase Decision
5.2.Aided and Unaided Brand Recall
5.3.Brand Satisfaction Level
5.4.Challenges and Unmet Needs
6.India Electric Vehicle Market Outlook
6.1.Market Size & Forecast
6.1.1.By Value & Volume
6.2.Market Share & Forecast
6.2.1.By Vehicle Type (Passenger Car, LCV, M&HCV, Two- Wheeler, Three-Wheeler)
6.2.2.By Propulsion (BEV, HEV, PHEV, FCEV)
6.2.3.By Range (0-100 Km, 101-200 km, Above 200 Km)
6.2.4.By Charging Time (<5 Hr, 5-10 Hr, Above 10 Hr)
6.2.5.By Region (North, South, East, West)
6.2.6.By Top 10 States (2022)
6.3.Market Map (By Vehicle Type, By Propulsion, By Range, By Charging Time, By Region)
7.India Electric Two-Wheeler Market Outlook
7.1.Market Size & Forecast
7.1.1.By Value & Volume
7.2.Market Share & Forecast
7.2.1.By Vehicle Type (Scooter/Moped, Motorcycle)
7.2.2.By Propulsion
7.2.3.By Battery Capacity (<5 KWh, 5-10 KWh, Above 10 KWh)
7.2.4.By Range
7.2.5.By Charging Time
7.2.6.By Company (2022)
7.3.Product Benchmarking
8.India Electric Three-Wheeler Market Outlook
8.1.Market Size & Forecast
8.1.1.By Value & Volume
8.2.Market Share & Forecast
8.2.1.By Vehicle Type (Passenger Carrier, Load Carrier)
8.2.2.By Propulsion
8.2.3.By Battery Capacity (<5 KWh, 5-10 KWh, Above 10 KWh)
8.2.4.By Range
8.2.5.By Charging Time
8.2.6.By Company (2022)
8.3.Product Benchmarking
9.India Electric Passenger Car Market Outlook
9.1.Market Size & Forecast
9.1.1.By Value & Volume
9.2.Market Share & Forecast
9.2.1.By Vehicle Type (SUV/MPV, Sedan, Hatchback)
9.2.2.By Propulsion
9.2.3.By Battery Capacity (<20 KWh, 20-50 KWh, Above 50 KWh)
9.2.4.By Range
9.2.5.By Charging Time
9.2.6.By Company (2022)
9.3.Product Benchmarking
10.India Electric M&HCV Market Outlook
10.1.Market Size & Forecast
10.1.1.By Value & Volume
10.2.Market Share & Forecast
10.2.1.By Vehicle Type (Buses and truck)
10.2.2.By Propulsion
10.2.3.By Battery Capacity (<20 KWh, 20-50 KWh, Above 50 KWh)
10.2.4.By Range
10.2.5.By Charging Time
10.2.6.By Company (2022)
10.3.Product Benchmarking
11.India Electric LCV Market Outlook
11.1.Market Size & Forecast
11.1.1.By Value & Volume
11.2.Market Share & Forecast
11.2.1.By Vehicle Type (Van, Pickup Truck)
11.2.2.By Propulsion
11.2.3.By Battery Capacity (<20 KWh, 20-50 KWh, Above 50 KWh)
11.2.4.By Range
11.2.5.By Charging Time
11.2.6.By Company (2022)
11.3.Product Benchmarking
12.Market Dynamics
12.1.Drivers
12.2.Challenges
13.Market Trends and Developments
14.Policy & Regulatory Landscape
15.Cost Benefit Analysis of Electric Vehicle Over ICE Vehicle
16.Supply Chain Analysis
17.India Economic Profile
18.Competitive Landscape
18.1.Tata Motors Limited
18.2.MG Motor India Private Limited
18.3.Mahindra & Mahindra Limited
18.4.PMI Electro Mobility Solutions Private Limited
18.5.JBM Auto Ltd.
18.6.Hero Electric Vehicles Pvt. Ltd.
18.7.Okinawa Autotech Pvt. Ltd.
18.8.Greaves Electric Mobility Private Limited
18.9.YC Electric Vehicle
18.10.Saera Electric Auto Pvt. Ltd.
19.Strategic Recommendations
20.About Us & Disclaimer

Note: The data given for any year represents the market during the fiscal year, i.e., 1st April to 31st March of that year. e.g., For 2022, the data represents the period, 1st April 2021 to 31st March 2022.List of Figures

Figure 1: India Electric Vehicle Market Size, By Value (USD Million) & Volume (Units), 2018-2028F
Figure 2: India Electric Vehicle Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 3: India Electric Vehicle Market Share, By Propulsion, By Volume, 2018-2028F
Figure 4: India Electric Vehicle Market Share, By Range, By Volume, 2018-2028F
Figure 5: India Electric Vehicle Market Share, By Charging Time, By Volume, 2018-2028F
Figure 6: India Electric Vehicle Market Share, By Region, By Volume, 2018-2028F
Figure 7: India Electric Vehicle Market Share, By Top 10 States, By Volume, 2022
Figure 8: India Electric Vehicle Market Map, By Vehicle Type, Market Size (Units) & Growth Rate (%)
Figure 9: India Electric Vehicle Market Map, By Propulsion, Market Size (Units) & Growth Rate (%)
Figure 10: India Electric Vehicle Market Map, By Range, Market Size (Units) & Growth Rate (%)
Figure 11: India Electric Vehicle Market Map, By Charging Time, Market Size (Units) & Growth Rate (%)
Figure 12: India Electric Vehicle Market Map, By Region, Market Size (Units) & Growth Rate (%)
Figure 13: India Electric Two-Wheeler Market Size, By Value (USD Million) & Volume (Units), 2018-2028F
Figure 14: India Electric Two-Wheeler Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 15: India Electric Two-Wheeler Market Share, By Propulsion, By Volume, 2018-2028F
Figure 16: India Electric Two-Wheeler Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 17: India Electric Two-Wheeler Market Share, By Range, By Volume, 2018-2028F
Figure 18: India Electric Two-Wheeler Market Share, By Charging Time, By Volume, 2018-2028F
Figure 19: India Electric Two-Wheeler Market Share, By Region, By Volume, 2018-2028F
Figure 20: India Electric Two-Wheeler Market Share, By Company, By Volume, 2022
Figure 21: India Electric Three-Wheeler Market Size, By Value (USD Million) & Volume (Units), 2018-2028F
Figure 22: India Electric Three-Wheeler Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 23: India Electric Three-Wheeler Market Share, By Propulsion, By Volume, 2018-2028F
Figure 24: India Electric Three-Wheeler Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 25: India Electric Three-Wheeler Market Share, By Range, By Volume, 2018-2028F
Figure 26: India Electric Three-Wheeler Market Share, By Charging Time, By Volume, 2018-2028F
Figure 27: India Electric Three-Wheeler Market Share, By Region, By Volume, 2018-2028F
Figure 28: India Electric Three-Wheeler Market Share, By Company, By Volume, 2022
Figure 29: India Electric Passenger Car Market Size, By Value (USD Million) & Volume (Units), 2018-2028F
Figure 30: India Electric Passenger Car Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 31: India Electric Passenger Car Market Share, By Propulsion, By Volume, 2018-2028F
Figure 32: India Electric Passenger Car Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 33: India Electric Passenger Car Market Share, By Range, By Volume, 2018-2028F
Figure 34: India Electric Passenger Car Market Share, By Charging Time, By Volume, 2018-2028F
Figure 35: India Electric Passenger Car Market Share, By Region, By Volume, 2018-2028F
Figure 36: India Electric Passenger Car Market Share, By Company, By Volume, 2022
Figure 37: India Electric M&HCV Market Size, By Value (USD Million) & Volume (Units), 2018-2028F
Figure 38: India Electric M&HCV Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 39: India Electric M&HCV Market Share, By Propulsion, By Volume, 2018-2028F
Figure 40: India Electric M&HCV Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 41: India Electric M&HCV Market Share, By Range, By Volume, 2018-2028F
Figure 42: India Electric M&HCV Market Share, By Charging Time, By Volume, 2018-2028F
Figure 43: India Electric M&HCV Market Share, By Region, By Volume, 2018-2028F
Figure 44: India Electric M&HCV Market Share, By Company, By Volume, 2022
Figure 45: India Electric LCV Market Size, By Value (USD Million) & Volume (Units), 2018-2028F
Figure 46: India Electric LCV Market Share, By Vehicle Type, By Volume, 2018-2028F
Figure 47: India Electric LCV Market Share, By Propulsion, By Volume, 2018-2028F
Figure 48: India Electric LCV Market Share, By Battery Capacity, By Volume, 2018-2028F
Figure 49: India Electric LCV Market Share, By Range, By Volume, 2018-2028F
Figure 50: India Electric LCV Market Share, By Charging Time, By Volume, 2018-2028F
Figure 51: India Electric LCV Market Share, By Region, By Volume, 2018-2028F
Figure 52: India Electric LCV Market Share, By Company, By Volume, 2022

Report Title: India Electric Vehicle Market, By Vehicle Type (Passenger Car, LCV, M&HCV, Two-Wheeler, Three-Wheeler), By Propulsion (BEV, HEV, PHEV, FCEV), By Range (0-100 Km, 101-200 Km, Above 200 Km), By Charging Time (<5 Hr, 5-10 Hr, Above 10 Hr), By Region, By Top 10 States, By Competition Forecast & Opportunities, 2018- 2028F


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