MarkNtel Advisors, a leading market research and consulting firm, has announced the release of its latest study titled India Electric Vehicle Market Research Report: Forecast (2025–2030). This report provides a detailed assessment of the India Electric Vehicle Market, covering its evolving dynamics, emerging trends, key growth drivers, major challenges, and competitive landscape.

Designed to guide investors, stakeholders, and business leaders, the research aims to deliver valuable insights for strategic planning, risk assessment, and investment decision-making in the years ahead.

Market Timeline Overview

• Historical Years: 2020–23
• Base Year: 2024
• Forecast Years: 2025–30

This helps businesses identify emerging opportunities, assess market risks, and develop data-driven strategies for long-term success.

Download a FREE PDF Sample of the Report: https://www.marknteladvisors.com/query/request-sample/india-electric-vehicle-market.html (Discover the market potential, platform-specific insights, and key industry trends.)

India Electric Vehicle Market Outlook

According to the report India Electric Vehicle Market size was valued at around USD 5.22 billion in 2024 and is projected to reach USD 23.52 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 28.52% during the forecast period, i.e., 2025-30.

The report also examines consumer preferences, regulatory impacts, and investment trends that will shape the market’s trajectory over the next decade.

In case you missed it, we're currently updating our reports. Click below to access a free PDF sample of the latest research, featuring forecasts from 2026 to 2032. The report includes market size, industry trends, and competitive analysis. Our team will promptly deliver the most recent version to you.

India Electric Vehicle Market Drivers:

Favorable Government Policies Driving Market Growth – In recent years, the growing number of government policies to promote electric vehicle adoption has positively impacted the Indian electric vehicle industry. The major reason for promoting EV adoption is air pollution, caused by the transport sector, which is more than 40% particularly due to the widespread use of diesel and petrol vehicles in cities such as Delhi, Mumbai, and Bengaluru. To overcome this, the Indian government is actively introducing various initiatives, including subsidies, incentives, tax exemptions, and registration fee waivers. For instance, the Ministry of Heavy Industries introduced the FAME India-II policy and Production Link Incentive (PLI) scheme, which promotes domestic manufacturing of EV batteries and components, reduces import dependence, and builds a robust electric vehicle supply chain in India.

View Full Report (All Data, In One Place): https://www.marknteladvisors.com/research-library/india-electric-vehicle-market.html (Explore in-depth analyses, technological trends, and investment patterns.)

India Electric Vehicle Market Trends:

Integration of AI & IoT Reshaping Market Dynamics – The integration of AI and IoT in electric vehicle systems is proactively transforming the Indian EV Market. These advanced technologies in EVs make them smarter, more convenient, and a preferred option among consumers. As it helps the vehicle to monitor the battery level, early detects problems early and even suggests nearby charging stations.

India Electric Vehicle Market Segmentation

The study categorizes the India Electric Vehicle Market into various segments and sub-segments, each analyzed for its size, growth potential, and contribution to the overall industry.

By Vehicle Type

• Passenger Cars- Market Size & Forecast 2020-2030, Thousand Units
  • Sedan - Market Size & Forecast 2020-2030, Thousand Units
  • Hatchback - Market Size & Forecast 2020-2030, Thousand Units
  • SUV- Market Size & Forecast 2020-2030, Thousand Units
• Commercial Vehicles- Market Size & Forecast 2020-2030, Thousand Units
  • Light Commercial Vehicles - Market Size & Forecast 2020-2030, Thousand Units
    • Electric Light Trucks - Market Size & Forecast 2020-2030, Thousand Units
    • Electric Minivans - Market Size & Forecast 2020-2030, Thousand Units
  • Medium & Heavy Commercial Vehicles - Market Size & Forecast 2020-2030, Thousand Units
    • Electric Trucks - Market Size & Forecast 2020-2030, Thousand Units
    • Electric Bus - Market Size & Forecast 2020-2030, Thousand Units
  • Two Wheelers
    • Scooters - Market Size & Forecast 2020-2030, Thousand Units
    • Motorcycles - Market Size & Forecast 2020-2030, Thousand Units
    • Moped - Market Size & Forecast 2020-2030, Thousand Units
  • Three Wheelers- Market Size & Forecast 2020-2030, Thousand Units

By Propulsion Type

• Battery Electric Vehicle (BEV)- Market Size & Forecast 2020-2030, Thousand Units
• Hybrid Electric Vehicle (HEV)- Market Size & Forecast 2020-2030, Thousand Units

Geographical Analysis

The report presents detailed insights into the market’s geographical expansion, highlighting key trends and opportunities across the following geographies:

By Region

• North
  • Delhi - Market Size & Forecast 2020-2030, Thousand Units
  • UP - Market Size & Forecast 2020-2030, Thousand Units
  • Punjab - Market Size & Forecast 2020-2030, Thousand Units
  • Haryana - Market Size & Forecast 2020-2030, Thousand Units
  • Others - Market Size & Forecast 2020-2030, Thousand Units
• South
  • Karnataka - Market Size & Forecast 2020-2030, Thousand Units
  • Tamil Nadu - Market Size & Forecast 2020-2030, Thousand Units
  • Telangana - Market Size & Forecast 2020-2030, Thousand Units
  • Others- Market Size & Forecast 2020-2030, Thousand Units
• East
  • West Bengal - Market Size & Forecast 2020-2030, Thousand Units
  • Bihar- Market Size & Forecast 2020-2030, Thousand Units
  • North East States - Market Size & Forecast 2020-2030, Thousand Units
• West
  • Maharashtra - Market Size & Forecast 2020-2030, Thousand Units
  • Gujarat- Market Size & Forecast 2020-2030, Thousand Units
  • Rajasthan - Market Size & Forecast 2020-2030, Thousand Units
  • Madhya Pradesh- Market Size & Forecast 2020-2030, Thousand Units

Talk to Our Industry Analyst: https://www.marknteladvisors.com/query/talk-to-our-consultant/india-electric-vehicle-market.html Get personalized insights into company strategies and regional market dynamics.)

Leading Companies in India Electric Vehicle Market Worldwide: Players, Analysis & Future Outlook

• Tata Motors
• Ola Electric
• Ather Energy
• Mahindra & Mahindra Ltd.
• JSW MG Motor India Pvt. Ltd.
• Olectra Greentech Limited
• Audi AG
• BMW AG
• Hyundai Motor India
• Mercedes-Benz Group AG
• Toyota Motor Corporation
• Others

Key Highlights of the Report

• Comprehensive Market Overview: In-depth analysis of market size, share, and forecasts from 2025 to 2030.
• Growth Drivers & Challenges: Clear insights into factors feeling or restraining market expansion.
• Investment & Regulatory Insights: Evaluation of key policies, funding trends, and collaborations influencing industry performance.
• Competitive Landscape: Detailed profiles of leading companies, including product portfolios, business strategies, financials, and recent developments such as mergers & acquisitions.

Analytical Tools: Application of SWOT Analysis, PESTEL Analysis, and Porter’s Five Forces Model to assess competition and external influences

Browse through our flexible pricing plans and choose the package that best fits your business needs whether you require a single-user license, corporate access, or customized insights. Once you select the plan that suits your requirements, you can purchase and instantly access the full report online – https://www.marknteladvisors.com/pricing/india-electric-vehicle-market.html

Frequently Asked Questions (FAQ)

1. What is the projected growth rate of the India Electric Vehicle Market?
   2. What are the major factors driving this market’s growth?
   3. Which regions are expected to lead the India Electric Vehicle Market?
   4. Who are the prominent players in the India Electric Vehicle Market?
   5. How is the competition structured in this market?
   6. How can I access the full report?

About Us

MarkNtel Advisors is a leading research and consulting firm providing strategic intelligence across the automotive industry, spanning automobiles, electric vehicles, autonomous driving, and automotive components & electronics. Our research helps OEMs, suppliers, and investors navigate regulatory shifts, evolving mobility patterns, and emerging EV ecosystems. With Custom Market Analysis, we deliver tailored research solutions that address specific business objectives, empowering clients to optimize investments, accelerate innovation, and sustain long-term growth in the global automotive market.

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