India Electric Vehicle Ecosystem Market to Reach $216.3 Billion by 2030: Research

PTI, Dec 6, 2019, 12:32 PM IST

New Delhi: According to a new market intelligence report by BIS Research, titled “India Electric Vehicle (EV) Ecosystem Market – Analysis and Forecast 2019-2030″, the India EV ecosystem market includes three major sectors, namely electric vehicle market, battery market, and charger market.

The electric vehicle market, battery market, and charger market are expected to witness CAGRs of 53.64%, 58.86%, and 59.58%, respectively, during the forecast period. Browse 108 Market Data Tables and 116 Figures spread through 305 Pages and in-depth TOC on ” India Electric Vehicle Ecosystem Market .”

The electric vehicles market is currently witnessing a high growth rate, owing to the changing trends in the automotive industry. Furthermore, the growing environmental concerns, coupled with a strong push from the government to replace 30% of the total vehicle population by electric vehicles, are anticipated to propel the electric vehicle market in the coming 10 years.

In addition, strict government policies to reduce the carbon footprint across India is another major factor that is expected to create lucrative opportunities for the EV ecosystem market in India for the decade to follow.

According to Ajeya Saxena, Lead Analyst at BIS Research, “The government target for 30% adoption of electric vehicles by 2030 is expected to be majorly driven by the electrification of two-wheeler, three-wheeler, and commercial vehicles in India. Lower rate of adoption of electric vehicles in the passenger vehicle segment is expected to have a limited impact in achieving these targets.”

The market report provides a detailed analysis of the recent trends influencing the EV market, along with a comprehensive study of future trends, policies, and regulatory landscape. It also includes company overview, financial summary, and SWOT analysis. The overall market has been segmented into batteries, charger type, propulsion type, separator type, and region. The report also includes a comprehensive section on the regional analysis for North India, South India, East India, and West India.

Some of the key players in the India electric vehicle ecosystem market are Amara Raja Batteries Ltd., Bharat Heavy Electricals Limited, Coslight India Telecom Pvt. Ltd., Eon Electric Limited, Exicom Power Solutions, Exide Industries Ltd., Greenfuel, HBL Power Systems Ltd., Napino Auto & Electronics Ltd., Okaya Power Pvt. Ltd., Tata Chemicals Ltd., Trontek Group, Ashok Leyland, Ather Energy, Emflux Motors, Olectra Greentech Limited, Hero Electric, Honda Motor Co., Ltd., Hyundai Motor India, JBM Auto Limited, Lohia Auto Industries, Mahindra Electric Mobility Limited, Maruti Suzuki India Limited, Tata Motors, Toyota Kirloskar Motor, Tunwal E-Bike India Pvt. Ltd., TVS Motor Company, ABB Ltd., Delta Electronics, Inc., EV Motors India Pvt. Ltd, Evteq Mobility Private Limited, Exicom Tele-Systems Limited, Indian Oil Corporation Ltd., and JBM Group.

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

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