Electric vehicle market is expected to witness phenomenal growth in the coming years. Increasing fuel costs, rise in pollution level and increasing government support will boost the adoption of electric vehicles in India.
The report begins with an overview of the major macro economic indicators which highlights the present economic scenario prevalent in India. The introduction section provides the definition of an electric vehicle with its major components. It also mentions the various types of electric vehicles based on technology, such as, battery electric vehicles, plug in hybrid electric vehicles, hybrid electric vehicles and fuel cell electric vehicles. This section further depicts the transition path of electric vehicle market over the years, highlighting the reasons for shift towards electric mobility in the future. This is followed by the market overview section which provides an insight into the overall electric vehicle market in India. The market size and forecasted growth along with the market segments and their respective shares have been mentioned in the report. This section further includes a cost comparison between electric vehicles and conventional internal combustion engine vehicles across the supply chain and manufacturing process.
Moving along, electric vehicle market segments section in the report elaborates the three basic market segments, electric four wheelers, two wheelers and three wheelers, wherein it lists their respective market size and forecasted growth. It also reveals the consumer preference for different technologies in each segment. The next section analyses the electric vehicle market by drawing a comparative study of the key hurdles to electric vehicle adoption, factors influencing the consumer's purchasing decision and sensitivity, preferred vehicle segment in Tier 1, Tier 2, Tier 3 and Tier 4 cities, consumer preference towards various demand incentives and technologies across all the major segments of electric vehicles.
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Factors driving the growth of electric vehicle market in India are also explained in detail, which includes government initiatives, rise in fuel costs, low operating and maintenance cost, foreign dependence for crude oil and environment friendly nature. The key challenges identified are low vehicle performance, inefficient battery, price constraint, power shortage and lack of infrastructure in the country.
The report covers the various government initiatives concerning the electric vehicle market in India. This section discusses the Alternate Fuels for Surface Transportation Program and its impact on the electric vehicle market. This is followed by the detailed illustration of the National Electric Mobility Mission Plan 2020, where in, it depicts the framework, potential roadmap for electrification and four major focus areas of the program which includes demand generation, research and development, manufacturing incentives and infrastructure development. Under demand generation, the possible demand scenario for electric vehicles, projected demand for electric vehicles in 2020 based on various technologies and types of electric vehicles, government incentives for each type of electric vehicle segment and the method of channelizing the demand incentives have been mentioned. This is followed by the introduction of the research and development of electric vehicles along with the comparison of global R&D scenario with the Indian market. The report also mentions the strategies to build R&D capability, depicts the required framework for implementing the electric vehicle R&D program, identifies the high priority R&D area for electric vehicle and tabulates the total R&D expenditure for each type of electric vehicle segment across different R&D areas. Further, the domestic scenario of electric vehicle manufacturing and component supplying have been mentioned which provides a clear idea about the current status of the electric vehicle manufacturing costs, indicating the need to adopt the phased manufacturing strategy for electric vehicles across each segment. It also lists the initiatives for developing the auto component sector and the various studies that needs to be undertaken to boost the localization of electric vehicle components. The report also illustrates the link between electric vehicles and availability of public charging infrastructure, followed by depicting the consumer preference and the phased development of infrastructure to support the power requirement of electric vehicles by 2020 across each segment. This section concludes with the total proposed investment and the benefit analysis of the National Electric Mobility Mission Plan 2020.
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The trends section in the report comprises an in-depth analysis of the major trends prevailing in the electric vehicle market, which include entry of new players and retro fitment hybrid kits.
The competition section begins with the Porter’s Five Forces Analysis, illustrating the competitive rivalry, bargaining power of suppliers and buyers and threat of new entrants and substitutes. It outlays the competitive landscape of the electric vehicle market in India briefing about the domestic and foreign players existing in the market. The section includes competitive benchmarking of the top players operating in the Indian electric vehicle market. The report also features brief profiles of major domestic and foreign players in the market and a snapshot of their corporation, financial performance along with the key financial ratios, business highlights, their product portfolio and individual SWOT analysis providing an insight into the existing competitive scenario.
The report concludes with a section on strategic recommendations, which comprises an analysis of the growth strategies of the electric vehicle market in India
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