India electric vehicle market is projected to grow at a CAGR of over 37%, during FY2018-FY2023. Robust market growth is anticipated on account of rising number of government initiatives such as incentive schemes to encourage adoption of environment-friendly electric vehicles, growing consumer inclination towards electric vehicles, concerns over harmful effects of air pollution, and huge investments by various OEMs for developing more affordable and premium electric vehicles in the coming years.

Years Considered for this Report:

Historical Years: FY2013 – FY2016

Base Year: FY2017

Estimated Year: FY2018

Forecast Period: FY2019–FY2023

Objective of the Study:

  • To analyze and forecast the size of India electric vehicle market.
  • To classify and forecast India electric vehicle market on the basis of vehicle type, drivetrain technology and region.
  • To identify drivers and challenges for India electric vehicle market.
  • To identify market trends and developments in India electric vehicle market.
  • To profile leading players operating in India electric vehicle market.


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Some of the major companies operating in India electric vehicle market include Toyota Kirloskar Motor Pvt. Ltd., Mahindra Electric Mobility Limited, Tata Motors Limited, Volvo India Private Limited, BMW AG, Kinetic Green Energy & Power Solutions Ltd., Lohia Auto Industries, Avon Cycles Ltd., Okinawa Autotech Pvt. Ltd., and Hero Electric Vehicles Pvt. Ltd., among others.

In order to perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of electric vehicle manufacturers and companies operating in India. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, email, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research was able to include those companies which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, regional network, and regional presence of all major companies operating across the country.

TechSci Research calculated the size for India electric vehicle market using a bottom-up technique, wherein the value service data for different vehicle types was recorded as well as forecast for future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical data of respective companies to arrive at the overall market size. Multiple secondary sources such as directories, databases such as OICA, World Bank, company websites, company annual reports, white papers, investor presentations and financial reports were also analyzed by TechSci Research.

Key Target Audience:

  • India electric vehicle manufacturers, distributors and other stakeholders
  • Raw material suppliers of electric vehicles and components
  • Associations, organizations, forums and alliances related to electric vehicles
  • Government bodies such as regulating authorities and policy makers
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as electric vehicle manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

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:

  • Market, by Vehicle Type:
    • Three-Wheeler
    • Two-Wheeler
    • Passenger Car
    • Bus
  • Market, by Drivetrain Technology:
    • Battery Electric Vehicle
    • Plug-in Electric Vehicle
  • Market, by Region:
    • North
    • South
    • East
    • West  

Competitive Landscape

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

Available Customizations:

With the given market data, TechSci Research offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players.

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.       Research Methodology

2.       Product Overview

3.       Analyst View

4.       Government Initiatives

5.       India Electric Vehicle Market Outlook

5.1.    Market Size & Forecast

5.1.1.By Value & Volume

5.2.    Market Share & Forecast

5.2.1.By Vehicle Type (Passenger Car, Two-Wheeler, Three-Wheeler & Bus)

5.2.2.By Drivetrain Technology (PHEV & BEV)

5.2.3.By Company

5.2.4.By Region

5.3.    Market Attractive Index (By Vehicle Type)

5.4.    Market Attractive Index (By Drivetrain Technology)

5.5.    Market Attractive Index (By Region)

6.       India Electric Three-Wheeler Market Outlook

6.1.    Voice of Customer

6.2.    Market Size & Forecast

6.2.1.By Value & Volume

6.3.    Market Share & Forecast

6.3.1.By Vehicle Type

6.3.2.By Battery Capacity

6.3.3.By Company

6.4.    Market Attractive Index (By Vehicle Type)       

6.5.    Market Attractive Index (By Battery Capacity)

6.6.    Upcoming Models

7.       India Electric Two-Wheeler Market Outlook

7.1.    Voice of Customer

7.2.    Market Size & Forecast

7.2.1.By Value & Volume

7.3.    Market Share & Forecast

7.3.1.By Vehicle Type

7.3.2.By Battery Capacity

7.3.3.By Company

7.4.    Market Attractive Index (By Battery Capacity)       

7.5.    Upcoming Models

8.       India Electric Passenger Car Market Outlook

8.1.    Voice of Customer

8.2.    Market Size & Forecast

8.2.1.By Value & Volume

8.3.    Market Share & Forecast

8.3.1.By Vehicle Type

8.3.2.By Drivetrain Technology

8.3.3.By Battery Capacity

8.3.4.By Company

8.4.    Market Attractive Index (By Vehicle Type)       

8.5.    Market Attractive Index (By Drivetrain Technology)       

8.6.    Market Attractive Index (By Battery Capacity)

8.7.    Upcoming Models

9.       India Electric Bus Market Outlook

9.1.    Voice of Customer

9.2.    Market Size & Forecast

9.2.1.By Value & Volume

9.3.    Market Share & Forecast

9.3.1.By Vehicle Type

9.3.2.By Drivetrain Technology

9.3.3.By Company

9.4.    Upcoming Models  

10.   Market Dynamics

10.1.  Drivers

10.2.  Challenges

11.   Policy & Regulatory Landscape

12.   Market Trends & Developments

13.   SWOT Analysis

14.   India Economic Profile

15.   Pricing & Price Point Analysis

16.   Competitive Landscape

16.1.  Toyota Kirloskar Motor Pvt. Ltd.

16.2.  Mahindra Electric Mobility Limited

16.3.  Tata Motors Limited

16.4.  Volvo India Private Limited

16.5.  BMW AG

16.6.  Kinetic Green Energy & Power Solutions Ltd.

16.7.  Lohia Auto Industries

16.8.  Avon Cycles Ltd.

16.9.  Okinawa Autotech Pvt. Ltd.

16.10.        Hero Electric Vehicles Pvt. Ltd.

17.   Strategic Recommendations

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com
  • List of Figures

     

    Figure 1: India Electric Vehicle Market Size, By Value (USD Million), By Volume (Thousand Unit),

    FY2013-FY2023F

    Figure 2: India Electric Vehicle Market Share, By Vehicle Type, By Volume, FY2013-FY2023F

    Figure 3: India Electric Vehicle Market Share, By Drivetrain Technology, By Volume, FY2013-FY2023F

    Figure 4: India Electric Vehicle Market Share, By Company, By Volume, FY2017

    Figure 5: India Electric Vehicle Market Share, By Region, By Volume, FY2017-FY2023F

    Figure 6: India Electric Vehicle Market Attractiveness Index, By Vehicle Type, By Volume,

    FY2018E-FY2023F

    Figure 7: India Electric Vehicle Market Attractiveness Index, By Drivetrain Technology, By Volume, FY2018E-FY2023F

    Figure 8: India Electric Vehicle Market Attractiveness Index, By Region, By Volume, FY2018E-FY2023F

    Figure 9: India Electric Three-Wheeler Market - Factors Influencing Purchase Decision (N=30)

    Figure 10: India Electric Three-Wheeler Market - Influencer of Purchase (N=30)

    Figure 11: India Electric Three-Wheeler Market - Aided Brand Recall (N=30)

    Figure 12: India Electric Three-Wheeler Market - Unaided Brand Recall (N=30)

    Figure 13: India Electric Three-Wheeler Market - Brand Satisfaction Level (N=30)

    Figure 14: India Electric Three-Wheeler Market - Brand Satisfaction Level, By Performance (N=30)

    Figure 15: India Electric Three-Wheeler Market - Brand Satisfaction Level, By Features (N=30)

    Figure 16: India Electric Three-Wheeler Market -Brand Satisfaction Level, By Maintenance Cost (N=30)

    Figure 17: India Electric Three-Wheeler Market - Brand Satisfaction Level, By Battery Life (N=30)

    Figure 18: India Electric Three-Wheeler Market - Brand Satisfaction Level, By Pricing (N=30)

    Figure 19: India Electric Three-Wheeler Market Size, By Value (USD Million), By Volume (Thousand Unit), FY2013-FY2023F

    Figure 20: India Electric Three-Wheeler Market Share, By Vehicle Type, By Volume, FY2013-FY2023F

    Figure 21: India Electric Three-Wheeler Market Share, By Battery Capacity, By Volume, FY2013-FY2023F

    Figure 22: India Electric Three-Wheeler Market Share, By Company, By Volume, FY2013-FY2023F

    Figure 23: India Electric Three-Wheeler Market Attractiveness Index, By Vehicle Type, By Volume, FY2018E-FY2023F

    Figure 24: India Electric Three-Wheeler Market Attractiveness Index, By Battery Capacity, By Volume, FY2018E-FY2023F

    Figure 25: India Electric Three-Wheeler Upcoming Models

    Figure 26: India Electric Two-Wheeler Market - Factors Influencing Purchase Decision (N=30)

    Figure 27: India Electric Two-Wheeler Market - Influencer of Purchase (N=30)

    Figure 28: India Electric Two-Wheeler Market - Aided Brand Recall (N=30)

    Figure 29: India Electric Two-Wheeler Market - Unaided Brand Recall (N=30)

    Figure 30: India Electric Two-Wheeler Market - Brand Satisfaction Level (N=30)

    Figure 31: India Electric Two-Wheeler Market - Brand Satisfaction Level, By Performance (N=30)

    Figure 32: India Electric Two-Wheeler Market - Brand Satisfaction Level, By Features (N=30)

    Figure 33: India Electric Two-Wheeler Market - Brand Satisfaction Level, By Maintenance Cost (N=30)

    Figure 34: India Electric Two-Wheeler Market - Brand Satisfaction Level, By Battery Life (N=30)

    Figure 35: India Electric Two-Wheeler Market - Brand Satisfaction Level, By Pricing (N=30)

    Figure 36: India Electric Two-Wheeler Market Size, By Value (USD Million), By Volume (Thousand Unit), FY2013-FY2023F

    Figure 37: India Electric Two-Wheeler Market Share, By Vehicle Type, By Volume, FY2013-FY2023F

    Figure 38: India Electric Two-Wheeler Market Share, By Battery Capacity, By Volume, FY2013-FY2023F

    Figure 39: India Electric Two-Wheeler Market Share, By Company, By Volume, FY2013-FY2023F

    Figure 40: India Electric Two-Wheeler Market Attractiveness Index, By Battery Capacity, By Volume, FY2018E-FY2023F

    Figure 41: India Electric Two-Wheeler Upcoming Models

    Figure 42: India Electric Passenger Car Market - Factors Influencing Purchase Decision (N=30)

    Figure 43: India Electric Passenger Car Market - Influencer of Purchase (N=30)

    Figure 44: India Electric Passenger Car Market - Aided Brand Recall (N=30)

    Figure 45: India Electric Passenger Car Market - Unaided Brand Recall (N=30)

    Figure 46: India Electric Passenger Car Market - Brand Satisfaction Level (N=30)

    Figure 47: India Electric Passenger Car Market - Brand Satisfaction Level, By Performance (N=30)

    Figure 48: India Electric Passenger Car Market - Brand Satisfaction Level, By Features (N=30)

    Figure 49: India Electric Passenger Car Market - Brand Satisfaction Level, By Maintenance Cost (N=30)

    Figure 50: India Electric Passenger Car Market - Brand Satisfaction Level, By Battery Life (N=30)

    Figure 51: India Electric Passenger Car Market - Brand Satisfaction Level, By Pricing (N=30)

    Figure 52: India Electric Passenger Car Market Size, By Value (USD Million), By Volume (Thousand Unit), FY2013-FY2023F

    Figure 53: India Electric Passenger Car Market Share, By Vehicle Type, By Volume, FY2013-FY2023F

    Figure 54: India Electric Passenger Car Market Share, By Drivetrain Technology, By Volume, FY2013-FY2023F

    Figure 55: India Electric Passenger Car Market Share, By Battery Capacity, By Volume, FY2013-FY2023F

    Figure 56: India Electric Passenger Car Market Share, By Company, By Volume, FY2013-FY2023F

    Figure 57: India Electric Passenger Car Market Attractiveness Index, By Vehicle Type, By Volume, FY2018E-FY2023F

    Figure 58: India Electric Passenger Car Market Attractiveness Index, By Drivetrain Technology, By Volume, FY2018E-FY2023F

    Figure 59: India Electric Passenger Car Market Attractiveness Index, By Battery Capacity, By Volume, FY2018E-FY2023F

    Figure 60: India Electric Passenger Car Upcoming Models

    Figure 61: India Electric Bus Market - Factors Influencing Purchase Decision (N=10)

    Figure 62: India Electric Bus Market - Brand Satisfaction Level, By Performance (N=10)

    Figure 63: India Electric Bus Market - Brand Satisfaction Level, By Features (N=10)

    Figure 64: India Electric Bus Market - Brand Satisfaction Level, By Maintenance Cost (N=10)

    Figure 65: India Electric Bus Market - Brand Satisfaction Level, By Battery Life (N=10)

    Figure 66: India Electric Bus Market - Brand Satisfaction Level, By Pricing (N=10)

    Figure 67: India Electric Bus Market Size, By Value (USD Million), By Volume (Thousand Unit), FY2017-FY2023F

    Figure 68: India Electric Bus Market Share, By Vehicle Type, By Volume, FY2017-FY2023F

    Figure 69: India Electric Bus Market Share, By Drivetrain Technology, By Volume, FY2017-FY2023F

    Figure 70: India Electric Bus Market Share, By Company, By Volume, FY2017-FY2023F

    Figure 71: India Electric Bus Upcoming Models

    Figure 72: India Electric Vehicle Market

    Figure 73: India Electric Vehicle Market Average Selling Price Analysis, FY2013-FY2023F (USD Per Unit)

    Figure 74: India Electric Vehicle Price Point Analysis, By Price Range, FY2017 (USD)

     

    List of Tables

     

    Table 1: State/UT-wise VAT Structure on Electric Vehicles in India

    Table 2: India Electric Vehicle Market Pricing Analysis, FY2017