Indian Electric Vehicle (EV) Growth Opportunities

reogma|Indian Electric Vehicle (EV) Growth Opportunities

India's move to electric mobility might result in a USD 206 billion market potential by FY30. EV production accounts for the lion's share of this opportunity. India's automobile sector is the world's fifth largest, with plans to become the third largest by 2030. Reliance on traditional modes of fuel-intensive mobility to cater to a large domestic market would not be sustainable. In order to solve this, federal authorities are designing a “Shared, Connected, and Electric” mobility alternative, with an ambitious goal of achieving 100 percent electrification by 2030.

  • Definition / Scope
  • Market Overview
  • Market Risks
  • Top Market Opportunities
  • Market Drivers
  • Market Restraints
  • Industry Challenges
  • Technology Trends
  • Pricing Trends
  • Regulatory Trends
  • Post COVID-19 Recovery
  • Market Size and Forecast
  • Market Outlook
  • Technology Roadmap
  • Distribution Chain Analysis
  • Competitive Landscape
  • Competitive Factors
  • Key Market Players
  • Strategic Conclusion
  • References
  • Further Reading
  • Appendix

Definition / Scope

India's automobile market, which is the world's fifth largest, generates around 7% to 8% of the country's GDP. Given its deep ties with micro, small, and medium enterprises for vehicle production and opportunities for technological innovations in the coming decade, the EV sector can be a key driver of this growth.

The lion's share of this opportunity lies in sales, repair, and ancillary services like vehicle insurance. According to the CEEW-CEF, this may result in an additional USD 177 billion in revenue for automobile makers by FY’ 2030.

reogma|Indian Electric Vehicle (EV) Growth Opportunities

Across the globe, countries are making the move to electric transportation. Concerns about climate change, energy security, and local air pollution caused by the usage of internal combustion engine (ICE) based cars are the main drivers for the switch. The transition to electric mobility in India might result in a market opportunity worth USD 206 billion by FY30.

Now is an excellent time to put in place policies to support the development of the EV ecosystem, as EVs have begun to make more economic sense than ICEs. Above all, India's EV sector has the potential to contribute significantly to domestic value addition and job generation, as well as support the country's post-COVID-19 recovery.


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India's move to electric mobility might result in a USD 206 billion market potential by FY30. EV production accounts for the lion's share of this opportunity. India's automobile sector is the world's fifth largest, with plans to become the third largest by 2030. Reliance on traditional modes of fuel-intensive mobility […]
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