India Electric Car Market Will See Strong Expansion Through 2025

-

The air pollution levels in India have risen rapidly over the past few years. As per the Environmental Pollution Index 2018, the country is among the bottom five countries when environment health category is considered and ranked 178 out of 180, in terms of air quality. India’s carbon dioxide emissions rose by 4.6% in 2017. This surging emissions of ultra-fine particulate matter from fuel-based vehicles has caused the death of approximately 1,640,000 people in the country. In order to reduce the pollution, the government of the country is focusing on encouraging the utilization of electric vehicles.

Owing to these factors, the demand for electric cars in India has risen considerably. According to a report by P&S Intelligence, the Indian electric car market is expected to generate a revenue of $707.4 million by 2025, rising from $71.1 million in 2017, and is projected to progress at a 34.5% CAGR during the forecast period (2018–2025). The different types of electric cars are hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV), and battery electric vehicles (BEV). Out of all these, the demand for BEVs was highest in the past, and these vehicles are further predicted to be the most in demand in the coming years as well.




This is due to the fact that the highest subsidies are being provided on the purchase of these vehicles by the government. In addition to this, the declining prices of battery, availability of a larger number of BEV models than PHEV or HEV, and lower upfront cost of these vehicles is further resulting in the growing adoption of these vehicles in the country. Sports utility vehicles (SUV), hatchbacks, and sedans are the major electric car types that are available in the country, among which, the demand for hatchbacks was the highest in the past.

Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/india-electric-car-market/report-sample

This can primarily be ascribed to the low cost of these cars. Apart from this, the demand for SUVs is also projected to increase significantly in the years to come, owing to the increasing disposable income of people and the fact that these vehicles are considered as a status symbol in India. The battery types that are utilized in electric cars are lithium-nickel-cobalt-aluminum oxide and lithium-iron-phosphate (LFP), between which, the demand for LFP batteries was higher in the past.

The research offers the size of the Indian electric car market for the period 2013–2025.

INDIA ELECTRIC CAR MARKET

  1. By Technology – Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), and Hybrid Electric Vehicle (HEV)
  2. By Product – Hatchback, Sedan, Sport Utility Vehicle (SUV), and Others
  3. By Battery – Lithium-Iron-Phosphate (LFP), Lithium–Nickel–Manganese Cobalt Oxide (Li–NMC), and Others
  4. By Battery Capacity – >201 Ah and <201 Ah
  5. By End-User – Shared Mobility Providers, Government Organizations, Personal Users, Others
  6. By State – Maharashtra, Gujarat, Delhi, Karnataka, Tamil Nadu, and Rest of India

Comments

Post a Comment

Popular posts from this blog

Demand for Electric Bike Set for Stupendous Growth in China and Post 2020, Buoyed by the Global COVID-19 Pandemic

-
In the 1950s, less than 20% of the Chinese people were urban dwellers, and by 2018, this percentage had soared to 59%, as per the World Urbanization Prospects 2018 report of the United Nations (UN). This has led to a massive rise in the number of automobiles on the roads of China, in part, making it the largest carbon emitter in the world. As a result, its government has been strongly encouraging the public to adopt electric vehicles (EV) by implementing stringent emission regulations and offering purchase subsidies and tax rebates. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/china-electric-scooters-and-motorcycles-market/report-sample P&S Intelligence says that the increasing urbanization level, which is expected to touch almost 70% by 2030, will drive the electric bike market in China from $7.7 billion in 2017 to $12.5 billion by 2025, at a 6.1% CAGR during 2018–2025 (forecast period). As per the Health Effects Institute and Tsing...
Read more

Automotive Camera Module Market Future Estimations Till 2030

-
Image
The Global New Car Assessment Programme (Global NACP) launched by the Towards Zero Foundation aims to create a world that is free from road fatalities and serious injuries. This programme supports the democratization of vehicle safety by encouraging the adoption of advanced automotive designs and technologies across the world. Additionally, NACP also aspires to promote the deployment of vehicle safety technologies with proven effectiveness by increasing public awareness regarding such features and supporting their mandatory application. To comply with the safety standards of this programme, automakers are increasingly integrating automotive camera modules in their offerings. Additionally, the accelerating demand for autonomous and luxury vehicles will also contribute to the progress of the automotive camera module market during 2020–2030. According to the Autonomous Vehicle Implementation Predictions: Implications for Transport Planning, published by the Victoria Transportation Policy ...
Read more

Opportunities for the Micromobility Market in the Future

-
Image
Taking out a car for short distances doesn’t make sense anymore, since air pollution is wreaking havoc on people. As most cars on the roads are still powered by diesel or gasoline (known as petrol in Commonwealth countries), people are shifting to lighter vehicles, such as scooters and motorcycles, since they release lower amounts of greenhouse gases. Going a step forward, many have started shunning personal vehicles altogether in favor of shared mobility. The concept of shared mobility, when applied to two-wheelers, is known as micromobility, which also includes kick scooter sharing services, apart from scooter sharing and bike (bicycle) sharing services. Request to Get the Sample Report@  https://www.psmarketresearch.com/market-analysis/micromobility-market/report-sample   P&S Intelligence claims that due to the various advantages of these services, the micromobility market will grow rapidly from $3.0 billion in 2018 to $9.8 billion by 2025, at a robust 19.9% C...
Read more