India Electric Car Market Demand, Size, Share & Forecast 2032

India Electric Car Market

India Electric Car Market By Technology (Battery Electric Vehicle, Hybrid Electric Vehicle and Plug-in Hybrid Electric Vehicle) By Battery (LFP, Li-NMC and Others) By Product (Hatchback, Sedan, SUV and Others) By End-User (Shared Mobility Providers, Government Organizations, Personal Users and Others): Industry Perspective, Comprehensive Analysis and Forecast, 2024 - 2032

Category: Automotive Report Format : PDF Pages: 190 Report Code: ZMR-4732 Published Date: Mar-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 3.16 Billion USD 48.66 Billion 35.49% 2023

India Electric Car Market: Industry Perspective

The global India electric car market size was worth around USD 3.16 billion in 2023 and is predicted to grow to around USD 48.66 billion by 2032 with a compound annual growth rate (CAGR) of roughly 35.49% between 2024 and 2032.

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The report analyzes and forecasts India's electric car market at the country level. The study offers past data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). Assessment of India's electric car market dynamics gives a brief thought about the drivers and restraints for the Indian electric car market along with the impact they have on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the Indian electric car market on a country level.

The report gives a transparent view of the Indian electric car market. We have included a detailed competitive scenario and portfolio of leading vendors operative in the Indian electric car market. To understand the competitive landscape in the Indian electric car market, an analysis of Porter’s Five Forces model for the India Electric car market has also been included. The study encompasses a market attractiveness analysis, wherein technology, battery, product, and end-user segments are benchmarked based on their market size, growth rate, and general attractiveness.

India Electric Car Market: Segmentation Analysis

The study provides a crucial view of the Indian electric car by segmenting the market based on technology, battery, product, and end-user. All the segments of India's electric car market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on technology, India electric car market is bifurcated into battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. LFP, Li-NMC, and others form the battery segment of India electric car market. Hatchback, sedan, SUV and others are the product segment for India electric car market.

The end-user segment is divided into shared mobility providers, government organizations, personal users and others.

India Electric Car Market: Report Scope


Report Attributes Report Details
Report Name India Electric Car Market
Market Size in 2023 USD 3.16 Billion
Market Forecast in 2032 USD 48.66 Billion
Growth Rate CAGR of 35.49%
Number of Pages 190
Key Companies Covered Tata, BMW AG, Toyota Kirloskar Motor Pvt. Ltd., Volvo Car Corporation, Honda Motor Co. Ltd, Tesla, Renault Motors, Audi AG, Volvo Car Corporation,, and others.
Segments Covered By Technology, By Battery, By Product, By End-User, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization


Key Market Players & Competitive Landscape:

The competitive profiling of noticeable players of India electric car market includes company and financial overview, business strategies adopted by them, their recent developments and products offered by them which can help in assessing competition in the market. Noticeable players included in the report are:

  • Tata
  • BMW AG
  • Toyota Kirloskar Motor Pvt. Ltd.
  • Volvo Car Corporation
  • Honda Motor Co. Ltd
  • Tesla
  • Renault Motors
  • Audi AG 
  • Volvo Car Corporation

The report segment of India electric car market as follows:

India Electric Car Market: Technology Segment Analysis

  • Battery Electric Vehicle
  • Hybrid Electric Vehicle
  • Plug-in Hybrid Electric Vehicle

India Electric Car Market: Battery Segment Analysis

  • LFP
  • Li-NMC
  • Others

India Electric Car Market: Product Segment Analysis

  • Hatchback
  • Sedan
  • SUV
  • Others

India Electric Car Market: End-User Segment Analysis

India Electric Car MarketRegional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content


FrequentlyAsked Questions

According to a study, the global India electric car market size was worth around USD 3.16 billion in 2023 and is expected to reach USD 48.66 billion by 2032.

The global India electric car market is expected to grow at a CAGR of 35.49% during the forecast period.

Leading players in the global India electric car market include Tata, BMW AG, Toyota Kirloskar Motor Pvt. Ltd., Volvo Car Corporation, Honda Motor Co. Ltd, Tesla, Renault Motors, Audi AG, and Volvo Car Corporation, among others.

The India electric car market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.

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