Strategic Analysis of the Indian EV & Hybrid Electric Vehicle Market, 2017–2030

Strategic Analysis of the Indian EV & Hybrid Electric Vehicle Market, 2017–2030

With the Push from the Indian Government towards All-electric Vehicles, the Penetration of EVs and FHEVs is Expected to Reach as High as 2 Million Vehicles by 2030

RELEASE DATE
06-Jun-2019
REGION
South Asia, Middle East & North Africa
Research Code: ME6B-01-00-00-00
SKU: AU01862-SA-MR_23244

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Description

Tightening emissions standards coupled with plaguing pollution levels have begun to shift the dynamics of the Indian automotive market. While xEV (electric and hybrid vehicles) have gained traction in developed nations internationally, they are yet to do so in the Indian market. However, projections show that in 2030 about 2 million xEVs will be sold in the country owing to increasing government initiatives and incentives, domestic OEMs’ interest towards EVs and the increasing popularity and awareness among Indian customers. However, inherent drawbacks in terms of charging infrastructure, grid management and varying (in comparison to other regions) consumer preferences in terms of product and features hinder the adoption of electric vehicles (EVs). The aim of this study is to research, analyse and forecast the trends; provide an overview of the EV and Hybrid vehicles market; and discuss the impact of these trends on the growth and performance of key OEMs. This study mainly focusses on the Indian passenger vehicle (PV) market. Over 10 electric and 4 main hybrid vehicle models are expected to hit the Indian market before 2025. Mahindra will have high focus on EVs, while Japanese OEMs such as Nissan, Honda and Toyota are expected to focus on FHEVs in 2023. 48v mild hybrids are expected to be a go-to solution for manufacturers to comply with regulations. As the Indian government has announced a ban of decade old diesel cars and is expected to introduce laws favouring EVs, this is an opportune time for global brands to introduce their EV/HEV models in India as a strategic move to arrest falling sales. Start-ups, with distinctive product features that also resonate with the cultural ethos, could look at gaining a definitive edge in this competitive market.

This study analyses various OEMs and Suppliers and their product strategy. It also estimates growth prospects and development of the charging network, and presents a funding analysis as well.

Key Features

Objectives of the Study

  • Provide a strategic overview of the Indian EV and hybrid vehicle market
  • Present an overview of key technological trends, including battery technology, charging systems and engine downsizing
  • Predict growth trends across various segments and regions
  • Analyse the positioning of EVs
  • Understand and forecast the market share of key market participants and evaluate their strategies
  • Discuss the cost comparison between EVs/FHEVs and conventional internal combustion engine (ICE) vehicles
  • Develop the market’s future outlook, including study conclusions

Key Issues Addressed

  • What is the future scenario of the automotive powertrain market and the role of EVs in it?
  • Which OEM will lead the passenger EV and hybrid vehicle market?
  • What are the technology and market roadmaps for the future of EVs and FHEVs?
  • How do various OEMs position themselves and their EV/FHEV strategies towards 2025?

Author: Prajyot Sathe

Table of Contents

Key Findings

Frost & Sullivan Scenario (Push from OEMs & Moderate Govt. Support)

Key OEM Sales Share—2023 and 2030

EV Charging Infrastructure Developments

Battery Pricing Trend Analysis

Key OEM Focus—2023

Key OEM Focus—2030

Expected & Present Model Line-up

Research Scope

Research Aims and Objectives

Key Questions this Study will Answer

Key OEMs or Participant Groups Compared in this Study

Product Segmentation

Current Electric Vehicle Market in India (2017)

EV/FHEV Ecosystem

Current Publicly Accessible Charging Infrastructure in India

Government Initiatives—Overview

Ban on Diesel Vehicles and Focus on Electric Mobility

NITI Aayog—Strategy for Electrification (2030)

FAME India—Roadmap (2015–2020)

Key Testing & Certification Agencies

Frost & Sullivan Scenario (Push from OEMs & Moderate Govt. Support)

Forecast Scenario Assumptions

Number of Public Charging Stations Vs. EV/HEV Parc Comparison

EV Charging Infrastructure Developments

Energy Price Benchmarking with Key Nations

Charging Infrastructure Business Models

Smart Grid Implementation in India

Smart City Investment

Renewables—Future of Renewables Availability in India

Standardisation of Charging Infrastructure

Standardisation of Charging Infrastructure (continued)

CHAdeMO Charging—Widely Adopted

EV Charging Stations—Potential Business Models

Cost Comparison of Components

Li-ion Battery Cost Breakdown

Battery Pricing Trend Analysis

Government Investment in Li-on Battery Production & Technology

Private Investment in Li-ion Battery Production & Technology

Comparative Analysis of Complexity and Cost of Powertrains

Need for 48v—Emission Regulations

Comparative Benchmarking of 48v System and xEVs

Key OEM Sales Share—2023 and 2030

Key OEM Focus—2023

Key OEM Focus—2030

Expected & Present Model Line-up

Maruti Suzuki

Hyundai

Mahindra Electric

Tata Motors

Nissan

Sun Mobility—Focusing of Charging Infrastructure

Bosch—Comprehensive Solutions

Continental—Focus on 48v and Full Hybrids

Delphi—Focus on 48v and Full Hybrids

Other Potential Suppliers

Opportunities for Component Suppliers

Opportunities for Component Suppliers (continued)

Mahindra Electric—Ola Vehicle Project: Nagpur

Growth Opportunity—Social Collaboration

Strategic Imperatives for Indian EV/HEV Industry

Indian EV/HEV Market—Conclusions and Future Outlook

Legal Disclaimer

Mission 2030—Customer Opinion: City-Type Wise

Abbreviations and Acronyms Used

Market Engineering Methodology

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Related Research
Tightening emissions standards coupled with plaguing pollution levels have begun to shift the dynamics of the Indian automotive market. While xEV (electric and hybrid vehicles) have gained traction in developed nations internationally, they are yet to do so in the Indian market. However, projections show that in 2030 about 2 million xEVs will be sold in the country owing to increasing government initiatives and incentives, domestic OEMs’ interest towards EVs and the increasing popularity and awareness among Indian customers. However, inherent drawbacks in terms of charging infrastructure, grid management and varying (in comparison to other regions) consumer preferences in terms of product and features hinder the adoption of electric vehicles (EVs). The aim of this study is to research, analyse and forecast the trends; provide an overview of the EV and Hybrid vehicles market; and discuss the impact of these trends on the growth and performance of key OEMs. This study mainly focusses on the Indian passenger vehicle (PV) market. Over 10 electric and 4 main hybrid vehicle models are expected to hit the Indian market before 2025. Mahindra will have high focus on EVs, while Japanese OEMs such as Nissan, Honda and Toyota are expected to focus on FHEVs in 2023. 48v mild hybrids are expected to be a go-to solution for manufacturers to comply with regulations. As the Indian government has announced a ban of decade old diesel cars and is expected to introduce laws favouring EVs, this is an opportune time for global brands to introduce their EV/HEV models in India as a strategic move to arrest falling sales. Start-ups, with distinctive product features that also resonate with the cultural ethos, could look at gaining a definitive edge in this competitive market. This study analyses various OEMs and Suppliers and their product strategy. It also estimates growth prospects and development of the charging network, and presents a funding analysis as well.--BEGIN PROMO--

Key Features

Objectives of the Study

  • Provide a strategic overview of the Indian EV and hybrid vehicle market
  • Present an overview of key technological trends, including battery technology, charging systems and engine downsizing
  • Predict growth trends across various segments and regions
  • Analyse the positioning of EVs
  • Understand and forecast the market share of key market participants and evaluate their strategies
  • Discuss the cost comparison between EVs/FHEVs and conventional internal combustion engine (ICE) vehicles
  • Develop the market’s future outlook, including study conclusions

Key Issues Addressed

  • What is the future scenario of the automotive powertrain market and the role of EVs in it?
  • Which OEM will lead the passenger EV and hybrid vehicle market?
  • What are the technology and market roadmaps for the future of EVs and FHEVs?
  • How do various OEMs position themselves and their EV/FHEV strategies towards 2025?

Author: Prajyot Sathe

More Information
No Index No
Podcast No
Author Prajyot Sathe
Industries Automotive
WIP Number ME6B-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9882-A6,9AF6-A6,9B02-A6