The India electric vehicle market size reached US$ 772 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 19,980 Million by 2028, exhibiting a growth rate (CAGR) of 69% during 2023-2028. More Info:- https://www.imarcgroup.com/india-electric-vehicle-market

1. India Electric Vehicle
Market Research and
Forecast Report 2023-
2028
Format: PDF+EXCEL
© 2023 IMARC All Rights Reserved

2. About IMARC Group
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strategy and market research worldwide. We partner with clients in all regions and industry
verticals to identify their highest-value opportunities, address their most critical challenges, and
transform their businesses.
IMARC’s information products include major market, scientific, economic and technological
developments for business leaders in pharmaceutical, industrial, and high technology
organizations. Market forecasts and industry analysis for biotechnology, advanced materials,
chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods
are at the top of the company’s expertise.
IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and
markets with close cooperation at all levels of the client organization. This ensures that our clients
achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting
results.

3. Report Highlight
and Description
According to the latest report by IMARC Group, titled "India Electric Vehicle
Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast
2023-2028," the India electric vehicle market size reached US$ 772 Million in
2022.
An electric vehicle or EV is a mode of transportation that relies on electricity
to power its propulsion system. It consists of an electric motor powered by a
rechargeable battery pack, which reserves electrical energy, usually derived
from the electrical grid, and supplies it to the motor to generate motion.
Additionally, electric vehicles are gaining popularity due to their environmental
benefits and efficiency and produce zero tailpipe emissions, reducing air
pollution and contributing to a cleaner environment. It is also energy-efficient,
with high energy conversion rates and regenerative braking systems that
capture and store energy typically lost as heat in conventional vehicles.
Nowadays, the electric vehicles are widely adopted across the country to curb
emissions.
Request for a PDF sample of this report: https://www.imarcgroup.com/india -
electric-vehicle-market/requestsample

4. Report Description
India Electric Vehicle Market Trends:
The market is primarily driven by the growing awareness campaigns and educational initiatives launched to inform
the public about the benefits of electric vehicles. It contributed to changing perceptions and increasing
acceptance among consumers. In addition, the adoption of electric vehicles by corporations to save costs while
benefiting from tax incentives and lower operating costs is augmenting the market growth. Moreover, the
government of India (GoI) is encouraging the promotion of electric vehicles through various policies and
initiatives, including subsidies and incentives for manufacturers and consumers, representing another major
growth-inducing factor.
These incentives include reduced goods and service tax (GST) rates and income tax benefits encouraging
automakers to invest in EV manufacturing. Along with this, the integration of electric vehicles for urban mobility
solutions, such as e-rickshaws and electric two-wheelers for last-mile connectivity and transportation in densely
populated cities, provides an efficient and eco-friendly way to navigate through traffic-congested areas, propelling
the market growth.
Looking forward, IMARC Group expects the market value to reach US$ 19,980 Million by 2028, exhibiting a
CAGR of 69% during the forecast period (2023-2028).
View Report TOC, Figures and Tables: https://www.imarcgroup.com/india-electric-vehicle-market

5. Report
Segmentation
Vehicle Type Insights:
• Passenger Vehicles
• Commercial Vehicles
• Others
Price Category Insights:
• Mid-Range
• High/Luxury Range
Propulsion Type Insights:
• Battery Electric Vehicle

6. Report
Segmentation
• Hybrid Electric Vehicle
• Plug-In Hybrid Electric Vehicle
Regional Insights:
• North India
• West and Central India
• South India
• East India

7. Competitive
Landscape with
Key Players
• Ampere Vehicles Private Limited (Greaves Cotton
Limited)
• Ather Energy Pvt Ltd
• Atul Auto Limited
• Bajaj Auto Limited (Bajaj Group)
• Electrotherm (India) Ltd.
• Hero Electric (Hero Eco Group)
• Hyundai Motor India Limited (Hyundai Motor Company)
• JBM Auto Limited
• Mahindra Electric Mobility Limited (Mahindra & Mahindra
Ltd)
• MG Motor India Pvt Ltd (SAIC Motor Corporation Limited)
• Okinawa Autotech Pvt Ltd
• Olectra Greentech Ltd.
• Piaggio Vehicles Pvt. Ltd. (PIAGGIO & C. SPA)
• Tata Motors Limited (Tata Group)
• TVS Motor Company (Sundaram - Clayton Limited)
• VE Commercial Vehicles Limited

8. Key Questions
Answered in
the Report
How big is India's EV market?
What has been the impact of COVID-19 on the
global fermenters market?
What are the key factors driving the India's EV
market?
What has been the impact of COVID-19 on the
India electric vehicle market?
What is the breakup of the India electric vehicle
market based on the vehicle type?
What is the breakup of the India electric vehicle
(EV) market based on the price category?
What is the breakup of the India electric vehicle
(EV) market based on propulsion type?
What are the key regions in the India electric
vehicle (EV) market?
Who are the key players/companies in the India
electric vehicle market?

9. Table of
Contents
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 India Electric Vehicle Market
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Impact of COVID-19
5.4 Market Forecast
5.4.1 Volume Trends
5.4.2 Value Trends
6 India Market Breakup by Vehicle Type
6.1 Passenger Vehicles
6.1.1 Mark et T rends
6.1.2 Mark et Forecast
6.2 Commercial Vehicles
6.2.1 Mark et T rends
6.2.2 Mark et Forecast

10. Table of
Contents
6.3 Others
6.3.1 Mark et Trends
6.3.2 Mark et Forecast
7 Market Breakup by Price Category
7.1 Mid-Range
7.1.1 Mark et Trends
7.1.2 Mark et Forecast
7.2 High/Luxury Range
7.2.1 Mark et Trends
7.2.2 Mark et Forecast
8 Market Breakup by Propulsion Type
8.1 Battery Electric Vehicle
8.1.1 Mark et Trends
8.1.2 Market Forecast
8.2 Hybrid Electric Vehicle
8.2.1 Mark et Trends
8.2.2 Mark et Forecast
8.3 Plug -In Hybrid Electric Vehicle
8.3.1 Mark et Trends
8.3.2 Mark et Forecast
9 Market Breakup by Region
9.1 North India
9.1.1 Market Trends
9.1.2 Mark et Breakup by State
9.1.3 Mark et Forecast
9.1.4 Upcoming EV Charging Stations
9.1.5 Upcoming EV Manufacturing Plant
For more information, visit :
https://www.imarcgroup.com/india -electric-vehicle-market/toc

11. Disclaimer
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the time of publishing. International Market Analysis Research and Consulting makes no
representation of warranty of any kind as to the accuracy or completeness of any Information
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opinion, errors or inaccuracies if any found this publication.
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International Market Analysis Research and Consulting. All other trademarks used in this
publication are registered trademarks of their respective companies.

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