India Electric Vehicle Market Growth Trends, Volume Insights and...

India Electric Vehicle Market Growth Trends, Volume Insights and Outlook 2030

Posted 2025-10-13 07:04:45

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Future of India Electric Vehicle Market: Key Dynamics, Size & Share Analysis

The 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 India ev industry witnessed a notable growth in the past few years, backed by several factors including rising electric vehicle companies in India, increasing environmental awareness, and E-commerce & last-mile delivery growth.

Top Challenges Impacting the India Electric Vehicle Market Growth

Limited After Sales Services & Shortage of Trained Workforce – The lack of after-sales services, along with the shortage of trained EV technicians, poses a significant challenge to the growth & expansion of the Indian EV Market. This is primarily driven by the need for specialized skills due to complex power electronics, battery systems, electric motors, and software of electric vehicles. For instance, according to Automotive Skills Development Council data, presently, there are only around 20% of skilled EV workforce in India, which is negatively impacting the wider EV adoption in the nation.

Understanding the Core Segments in the India Electric Vehicle Market

India Electric Vehicle Market Size, Share & Industry Trends Analysis-By Vehicle Type (Passenger Cars, [Sedan, Hatchback, SUV], Commercial Vehicles, [Light Commercial Vehicles, [Electric Light Trucks, Electric Minivans], Medium & Heavy Commercial Vehicles, [Electric Trucks, Electric Bus]], Two Wheelers [Scooters, Motorcycles, Moped], Three Wheelers), By Propulsion Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV)) And Others.

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Geographical Analysis of the India Electric Vehicle Market

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

Who Dominates the India Electric Vehicle Market Insights on Key Industry Players?

Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.d

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 and others.

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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.

MarkNtel Advisors is a leading Market Research Company and Industry Research Report Firm offering end-to-end intelligence across the automotive sector, including automobiles, electric vehicles, autonomous driving, and automotive components & electronics. Our extensive portfolio of Syndicated Research Reports and Customized Market Research Reports delivers global, regional, and country-level insights that help manufacturers, suppliers, and investors navigate evolving emission standards, technological disruptions, and changing consumer mobility trends. Built on robust data analytics, primary interviews, and Export and Import Data, our research provides actionable Market Forecasts and Revenue Impact Assessments. Clients leverage our intelligence for business analysis, competitive benchmarking, and go-to-market planning. Through our specialized Consulting Services, MarkNtel Advisors empowers automotive stakeholders to translate insight into strategy, ensuring agility, innovation, and profitable growth in a transforming global mobility landscape.