According to Goldstein Research, government initiative and policies to support the deployment and adoption of electric vehicle across the country will be the major factor for the growth of electric vehicles market in India. India electric vehicle market analysis also includes product innovation, technological advancements, and acquisitions as the key competitive strategies adopted by the major players in the automotive electric vehicle market. Moreover, India is now targeting deployment of 6-7 million of electric vehicles by 2020 under the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme. According to our analyst India electric vehicles market is projected to register a CAGR of 100% during the forecast period i.e. 2016-2024.
Market Segmentation
On the basis of our in-depth analysis, India Electric Vehicle Market can be segmented as follows:
• By Technology Type
o Hybrid Electric Vehicles
o Battery Electric Vehicles
• By Vehicle Type
o Passenger Cars
o Commercial Vehicles
o Two Wheelers
o E-Rickshaws
• By Geography
o Tier- I Cities Electric Vehicle Market
o Tier- II Cities Electric Vehicle Market
o Tier- III Cities Electric Vehicle Market
“India Electric Vehicle Market Outlook 2024” contains detailed overview of the India electric vehicle market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by technology and by vehicle type.
Further, for the in-depth analysis, India Electric Vehicle Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Toyota, Maruti Suzuki, Mahindra Motors, BMW, Tata Motors, Lohia Auto Industries, Heroelectric, BSA Motors etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents the India electric vehicle market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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