+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

India Electric Car Market by Technology, by Product, by Battery, by Battery Capacity, by End User, by State - Market Size, Share, Development, Growth, and Demand Forecast, 2013-2025

  • ID: 4749611
  • Report
  • Region: India
  • 86 pages
  • Prescient & Strategic Intelligence Private Limited
1 of 3

FEATURED COMPANIES

  • Honda Motor Co. Ltd.
  • Hyundai Motor Company
  • Tata Motors Limited
  • Volvo Car Corporation
  • MORE
The Indian electric car market is projected to reach $707.4 million by 2025, the market is predominantly driven by the government schemes, growing environmental concerns, and falling battery prices. Several incentives, such as tax rebates, grants, and subsidies, have been launched by the central and state governments in order to increase electric car adoption in the country.

Based on the technology, the Indian electric car market has been categorized into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and hybrid electric vehicle (HEV). Of the three, the BEV category dominated the market during the historical years and is expected to continue doing so in the coming years. Much of this can be attributed to the highest subsidies offered by the Indian government on the purchase of BEVs as compared to PHEVs and HEVs and availability of a number of low cost BEV models in the market.

On the basis of the product, the Indian electric car market has been classified into hatchback, sedan, sports utility vehicle (SUV), and others. The “others” category includes multi-utility vehicles (MUVs), microcars, minivans, luxury cars, and sports cars. The hatchback category held the largest share in the market in terms of volume as well as value in 2017, contributing over 45% revenue share. This can be owed to the low cost of the hatchback category as compared to sedan and SUV. During the forecast period, the market for SUV category is forecasted to grow at the fastest rate, owing to the rise in disposable income of the users and increasing recognition for SUVs as status symbol in the Indian society.

Based on the battery capacity, the Indian electric car market has been categorized into more than 201 Ah and less than 201 Ah. Electric cars with battery capacity of more than 201 Ah held larger share in the market, contributing majorly to the overall sales volume in 2017, owing to consumers’ preference for electric cars with longer range.

Government schemes and subsidies are playing a major role in the growth of the Indian electric car market. The urban population has increased rapidly over the past decade, resulting in rise in pollution levels. To curb this issue, the Indian government is encouraging and supporting the adoption of electric cars through its several financial schemes and incentives. Several policies related to electric vehicle (EV) have been announced by the public authorities of India over the past few years indicating substantial action and ambition for the adoption of EVs in the country.

For instance, in 2015, the Indian government introduced a scheme under the National Electric Mobility Mission Plan (NEMMP) namely Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme to encourage the adoption of clean fuel technology cars that boosted the growth of the Indian electric car market. The scheme was launched in the Union Budget for the fiscal year 2015-2016 with a primary expense of $11.46 million (INR 75 crores). It was targeted to decrease the upfront purchase value of electric and hybrid vehicles and to stimulate their early adoption.

Maharashtra had the highest electric car sales volume in 2017, accounting for a market share of 28.9% in the Indian electric car market. The state is expected to continue being the leading market in the country for electric cars during the forecast period, owing to the state government’s Electric Vehicle Policy 2018 to help the EV market grow by supporting EV manufacturing, developing charging infrastructure, and offering subsidies to costumers on the purchase of these vehicles. The state government announced subsidies for electric cars, amounting up to $1,550 (INR 100,000) per vehicle. However, Tamil Nadu electric car market is expected to outperform all other states in terms of growth, witnessing a CAGR of 51.5%.

The Indian electric car market is highly consolidated and is dominated by Mahindra Electric Mobility Ltd. Currently, the company is the only BEV manufacturer in the country. It had ventured into the electric car industry much earlier than other Indian automotive players through the acquisition of Reva Electric Car Company in 2010. However, Tata Motors Ltd. is expected to gain a significant market share in the Indian electric car industry during the forecast period, as it has announced to launch two electric car models, Tigor Electric and Tiago Electric, by the end of 2019.

Some of the other major players operating in the Indian electric car market are Hyundai Motor Company, Volvo Car Corporation, Toyota Kirloskar Motor Pvt. Ltd., and Honda Motor Co. Ltd.
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • Honda Motor Co. Ltd.
  • Hyundai Motor Company
  • Tata Motors Limited
  • Volvo Car Corporation
  • MORE
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Technology
1.3.2 Market Segmentation by Product
1.3.3 Market Segmentation by Battery
1.3.4 Market Segmentation by Battery Capacity
1.3.5 Market Segmentation by End-User
1.3.6 Market Segmentation by State
1.3.7 Analysis Period
1.3.8 Market Data Reporting Unit
1.3.8.1 Value
1.3.8.2 Volume
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Technology
4.1.1.1 BEV
4.1.1.2 PHEV
4.1.1.3 HEV
4.1.2 By Product
4.1.2.1 Hatchback
4.1.2.2 Sedan
4.1.2.3 SUV
4.1.2.4 Others
4.1.3 By Battery
4.1.3.1 LFP
4.1.3.2 Li-NMC
4.1.3.3 Others
4.1.4 By Battery Capacity
4.1.4.1 >201 Ah
4.1.4.2 < 201 Ah
4.1.5 By End-User
4.1.5.1 Shared mobility providers
4.1.5.2 Government organizations
4.1.5.3 Personal users
4.1.5.4 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Advancement in electric car range
4.3.2 Drivers
4.3.2.1 Government schemes and subsidies
4.3.2.2 Growing environmental concerns
4.3.2.3 Declining battery price
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Lack of adequate charging infrastructure and related value chain
4.3.3.2 High upfront cost
4.3.3.3 Technological challenges
4.3.3.3.1 Limited electric range
4.3.3.3.2 Long charging time
4.3.3.4 Impact analysis of drivers on market forecast
4.3.4 Opportunities
4.3.4.1 Shared electric mobility
4.3.4.2 Growing inclusion of electric cars in government’s existing car fleet
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Intensity of Rivalry
4.4.5 Threat of Substitutes

Chapter 5. India Market Size and Forecast
5.1 By Technology
5.2 By Product
5.3 By Battery
5.4 By Battery Capacity
5.5 By End-User
5.6 By State

Chapter 6. Competitive Landscape
6.1 Market Share Analysis of Key Players
6.2 Strategic Developments of Key Players
6.2.1 Product Launches
6.2.2 Partnerships
6.2.3 Facility Expansions
6.2.4 Client Wins

Chapter 7. Company Profiles
7.1 Hyundai Motor Company
7.1.1 Business Overview
7.1.2 Product and Service Offerings
7.1.3 Key Financial Summary
7.2 Mahindra Electric Mobility Limited
7.2.1 Business Overview
7.2.2 Product and Service Offerings
7.2.3 Key Financial Summary
7.3 Volvo Car Corporation
7.3.1 Business Overview
7.3.2 Product and Service Offerings
7.4 Toyota Kirloskar Motor Pvt. Ltd.
7.4.1 Business Overview
7.4.2 Product and Service Offerings
7.5 Tata Motors Limited
7.5.1 Business Overview
7.5.2 Product and Service Offerings
7.5.3 Key Financial Summary
7.6 Honda Motor Co. Ltd.
7.6.1 Business Overview
7.6.2 Product and Service Offerings
7.6.3 Key Financial Summary

Chapter 8. Appendix
8.1 Abbreviations
8.2 Sources and References
8.3 Related Reports

List of Tables
TABLE 1 ANALYSIS PERIOD OF THE STUDY
TABLE 2 STATE WISE ELECTRIC VEHICLE POLICIE
TABLE 3 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
TABLE 4 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
TABLE 5 INDIA ELECTRIC CAR MARKET (2013-2017)
TABLE 6 INDIA ELECTRIC CAR MARKET (2018-2025)
TABLE 7 INDIA ELECTRIC CAR MARKET, BY TECHNOLOGY, UNITS (2013-2017)
TABLE 8 INDIA ELECTRIC CAR MARKET, BY TECHNOLOGY, UNITS (2018-2025)
TABLE 9 INDIA ELECTRIC CAR MARKET, BY TECHNOLOGY, $M (2013-2017)
TABLE 10 INDIA ELECTRIC CAR MARKET, BY TECHNOLOGY, $M (2018-2025)
TABLE 11 INDIA ELECTRIC CAR MARKET, BY PRODUCT, UNITS (2013-2017)
TABLE 12 INDIA ELECTRIC CAR MARKET, BY PRODUCT, UNITS (2018-2025)
TABLE 13 INDIA ELECTRIC CAR MARKET, BY PRODUCT, $M (2013-2017)
TABLE 14 INDIA ELECTRIC CAR MARKET, BY PRODUCT, $M (2018-2025)
TABLE 15 INDIA ELECTRIC CAR MARKET, BY BATTERY, UNITS (2013-2017)
TABLE 16 INDIA ELECTRIC CAR MARKET, BY BATTERY, UNITS (2018-2025)
TABLE 17 INDIA ELECTRIC CAR MARKET, BY BATTERY, $M (2013-2017)
TABLE 18 INDIA ELECTRIC CAR MARKET, BY BATTERY, $M (2018-2025)
TABLE 19 INDIA ELECTRIC CAR MARKET, BY BATTERY CAPACITY, UNITS (2013-2017)
TABLE 20 INDIA ELECTRIC CAR MARKET, BY BATTERY CAPACITY, UNITS (2018-2025)
TABLE 21 INDIA ELECTRIC CAR MARKET, BY BATTERY CAPACITY, $M (2013-2017)
TABLE 22 INDIA ELECTRIC CAR MARKET, BY BATTERY CAPACITY, $M (2018-2025)
TABLE 23 INDIA ELECTRIC CAR MARKET, BY END-USER, UNITS (2013-2017)
TABLE 24 INDIA ELECTRIC CAR MARKET, BY END-USER, UNITS (2018-2025)
TABLE 25 INDIA ELECTRIC CAR MARKET, BY END-USER, $M (2013-2017)
TABLE 26 INDIA ELECTRIC CAR MARKET, BY END-USER, $M (2018-2025)
TABLE 27 INDIA ELECTRIC CAR MARKET, BY STATE, UNITS (2013-2017)
TABLE 28 INDIA ELECTRIC CAR MARKET, BY STATE, UNITS (2018-2025)
TABLE 29 INDIA ELECTRIC CAR MARKET, BY STATE, $M (2013-2017)
TABLE 30 INDIA ELECTRIC CAR MARKET, BY STATE, $M (2018-2025)
TABLE 31 HYUNDAI MOTOR COMPANY - AT A GLANCE
TABLE 32 HYUNDAI MOTOR COMPANY - KEY FINANCIAL SUMMARY
TABLE 33 MAHINDRA ELECTRIC MOBILITY LIMITED - AT A GLANCE
TABLE 34 MAHINDRA ELECTRIC MOBILITY LIMITED - KEY FINANCIAL SUMMARY
TABLE 35 VOLVO CAR CORPORATION - AT A GLANCE
TABLE 36 TOYOTA KIRLOSKAR MOTOR PVT. LTD. - AT A GLANCE
TABLE 37 TATA MOTORS LIMITED - AT A GLANCE
TABLE 38 TATA MOTORS LIMITED - KEY FINANCIAL SUMMARY
TABLE 39 HONDA MOTOR CO. LTD. - AT A GLANCE
TABLE 40 HONDA MOTOR CO. LTD. - KEY FINANCIAL SUMMARY

List of Figures
FIG 1 RESEARCH SCOPE
FIG 2 RESEARCH METHODOLOGY
FIG 3 REGIONAL SPLIT OF PRIMARY AND SECONDARY RESEARCH
FIG 4 BREAKDOWN OF PRIMARY RESEARCH BY REGION
FIG 5 BREAKDOWN OF PRIMARY RESEARCH BY INDUSTRY PARTICIPANT
FIG 6 BREAKDOWN OF PRIMARY RESEARCH BY COMPANY TYPE
FIG 7 DATA TRIANGULATION APPROACH
FIG 8 INDIA ELECTRIC CAR MARKET SUMMARY
FIG 9 VALUE CHAIN OF INDIA ELECTRIC CAR MARKET
FIG 10 PORTER’S FIVE FORCES ANALYSIS
FIG 11 BARGAINING POWER OF BUYERS
FIG 12 BARGAINING POWER OF SUPPLIERS
FIG 13 THREAT OF NEW ENTRANTS
FIG 14 INTENSITY OF RIVALRY
FIG 15 THREAT OF SUBSTITUTES
FIG 16 INDIA ELECTRIC CAR MARKET (2013-2025)
FIG 17 INDIA ELECTRIC CAR MARKET, BY TECHNOLOGY, UNITS (2013-2025)
FIG 18 INDIA ELECTRIC CAR MARKET, BY PRODUCT, UNITS (2013-2025)
FIG 19 INDIA ELECTRIC CAR MARKET, BY BATTERY, UNITS (2013-2025)
FIG 20 INDIA ELECTRIC CAR MARKET, BY BATTERY CAPACITY, UNITS (2013-2025)
FIG 21 INDIA ELECTRIC CAR MARKET, BY END-USER, UNITS (2013-2025)
FIG 22 INDIA ELECTRIC CAR MARKET, BY STATE, UNITS (2013-2025)
FIG 23 MARKET SHARE OF KEY PLAYERS (2017)
FIG 24 HYUNDAI MOTOR COMPANY - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2017)
FIG 25 HONDA MOTOR CO. LTD. - REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2018)
Note: Product cover images may vary from those shown
3 of 3

Loading
LOADING...

4 of 3
  • Hyundai Motor Company
  • Mahindra Electric Mobility Limited
  • Volvo Car Corporation
  • Toyota Kirloskar Motor Pvt. Ltd.
  • Tata Motors Limited
  • Honda Motor Co. Ltd.
Note: Product cover images may vary from those shown
Adroll
adroll