The India Electric Vehicle Market is segmented by Vehicle Type (Commercial Vehicles, Passenger Vehicles, Two-Wheelers) and by Fuel Category (FCEV, HEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

This dataset provides a detailed overview of the electric vehicle (EV) market in India from 2001 to 2024. It includes monthly sales data, sales data categorized by manufacturer, and vehicle class-wise sales data for different manufacturers. This rich dataset is ideal for market analysis, trend forecasting, and research on the adoption and growth of electric vehicles in India.

Updated Files Included

EV Maker by Place

List of popular EV Makers and their location of Manufacturing Plant

Operational PC

Total Operational Public Charging Station for EV available in each state

Vehicle Class

Total vehicles (includes electric and all other fuels) registered (manufactured) by category from 2001 - Aug 2024

ev_cat_01-24

Total electric vehicles manufactured from 2001 - Aug 2024 and vehicle category

ev_sales_by_makers_and_cat_15-24

Total electric vehicles manufactured by makers from 2015 - Aug 2024 with the vehicle class

Potential Uses

• Market Analysis: Understand the growth trends and market share of different manufacturers in the Indian EV market.
• Forecasting: Predict future sales trends based on historical data.
• Research: Study the adoption patterns and the impact of various factors on the EV market in India.

Acknowledgments

This dataset was compiled and web-scrapped from Vahaan4 Dashboard

Note - The data for name of Manufacturers is only available from 2015

In the financial year of 2025, two-wheelers led the electric vehicle market in India, with sales reaching approximately *****million units. This represented a substantial growth compared to the sales figures from the previous year. Meanwhile, the sales of four-wheeler electric vehicles stood at around ********for the same period. Notably, all sectors of the electric vehicle market witnessed significant growth that year. Electric vehicle market The market projection for electric vehicles (EVs) in India is promising, with a significant increase in sales volume expected in the coming years. In the passenger vehicle segment, Tata Motors has carved out a substantial market share. Meanwhile, Ola Electric is leading the charge in the two-wheeler EV segment. However, the share of EV sales in total vehicle sales in India, while growing, is still relatively small. This points to a gradual yet steady shift towards EV adoption across various vehicle segments in the country. Challenges in EV adoption With the growing environmental concerns, the acceptance of EVs is on the rise in India, with the willingness to invest in sustainable modes of transportation. However, this transition is not without challenges. Concerns about the availability of public charging infrastructure and the safety of battery technology are prevalent. Addressing these issues will be crucial in accelerating the adoption of EVs in the country.

The India Electric Car Market is segmented by Vehicle Configuration (Passenger Cars) and by Fuel Category (BEV, FCEV, HEV, PHEV). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

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India Electric Vehicle Market Size 2025-2029

The India electric vehicle market size is forecast to increase by USD 200.03 billion at a CAGR of 93.9% between 2024 and 2029.

The market is experiencing significant growth, driven by increased adoption of enhanced logistics and transportation solutions. Technological advancements in EVs, such as longer battery life, faster-charging capabilities, improved automotive vents, and more precise automotive sensors, continue to attract consumers. However, the availability of alternatives, including hybrid vehicles and fuel-efficient internal combustion engine vehicles, challenges market growth. The market trends and analysis report delves into these factors, providing insights into the current and future landscape of the EV market. The report comprehensively assesses the market's growth prospects, helping stakeholders make informed business decisions.

What will be the Size of the Market During the Forecast Period?

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Electric Vehicles (EVs) have emerged as a significant transportation option in response to growing environmental consciousness and the pressing issue of climate change. As concerns over air pollution and carbon footprint continue to mount, EVs have gained global momentum as an attractive alternative to traditional internal combustion engine (ICE) vehicles. The market represents a dynamic and evolving landscape, with new models and improved performance continually being introduced. The car model availability on various websites is often updated by car dealers and monitored by environment agencies to ensure compliance with sustainability standards. Range, once a major concern for consumers, has significantly improved, making EVs a viable option for long-distance travel. Technological advancements, such as the integration of Electric Vehicle (EV) batteries, EV charging stations, the Internet of Things (IoT), and the shift from Diesel engines to electric powertrains, are driving the market. Environmental agencies and governments worldwide have also taken notice, implementing regulations and incentives to encourage the adoption of EVs.



Furthermore, company reports and data from vehicle registries indicate a steady increase in EV sales, with new passenger cars, including base models, becoming increasingly accessible to consumers. Despite the progress, challenges remain. The purchase costs of EVs, while decreasing, still represent a barrier for some consumers. Performance, while improving, may not yet meet the expectations of those accustomed to ICE vehicles. However, as the market continues to evolve, it is expected that these challenges will be addressed, further solidifying the position of EVs as a key player in the transportation sector. In the broader context, the shift towards EVs represents a significant step towards reducing global emissions from road transport, a major contributor to overall greenhouse gas emissions.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Charging

  Normal charging
  Super charging


Vehicle Type

  Passenger cars
  Commercial vehicles


Type

  BEV
  PHEV


Geography

  India

By Charging Insights

The normal charging segment is estimated to witness significant growth during the forecast period.

The market is anticipated to be dominated by the normal charging segment during the forecast period. When charging an EV using an alternating current, the onboard charger plays a crucial role. This built-in system converts the received alternating current (AC) into direct current (DC) for battery usage. The onboard charger's capacity significantly influences an EV's charging speed. It determines how fast the onboard system can receive AC from the source and the number of phases it can utilize. Small hatchbacks and crossovers are popular choices in the Indian EV market. Major automakers are investing in expanding their electric vehicle fleets to meet the growing demand for lower emissions alternatives.

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Market Dynamics

Our market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of India Electric Vehicle Market?

Increasing adoption of EVs for improved logistics and transportation is the key driver of the market.

Electric Vehicles (EVs) are gaining significant momentum in the market as consumers increasingly prioritize environmental consciousness and seek to reduce

The India electric vehicle market size is expected to reach USD 23.52 billion by 2030, at a 28.52% CAGR during 2025–30. EV adoption and infrastructure boost growth.

India electric vehicle market earned USD 5.9 billion in 2024, and estimated to touch USD 35.8 billion in 2032, growing at a higher CAGR of 25.3% till 2032

India Electric Vehicle market was valued at USD 6.16 Billion in 2025 and is expected to reach USD 10.95 Billion by 2031 with a CAGR of 10.06%.

Explore the electric vehicle market size in India, revenue, top players, future outlook, and growth projections in this comprehensive research report

In 2030, it was estimated, in an accelerated scenario, that electric vehicles have a market share of ** percent in the vehicle market. It would be almost a growth of two times in comparison with 2022.

In 2024, MG had the highest electric vehicle (EV) sales share, as EVs represented *****percent of its Indian sales. Stellantis achieved the second position with a **** percent share. The "Others" category encompasses newcomers like BYD, PMV Electric, and Pravaig, collectively recording *****percent of their sales in India as electric vehicles.

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Electric Vehicle (EV) Market Size 2025-2029

The electric vehicle (ev) market size is valued to increase by USD 446.4 billion, at a CAGR of 16.4% from 2024 to 2029. Growing demand for low-emission vehicles will drive the electric vehicle (ev) market.

Market Insights

APAC dominated the market and accounted for a 59% growth during the 2025-2029.
By Type - BEV segment was valued at USD 173.00 billion in 2023
By Charging - Normal charging segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 202.70 billion 
Market Future Opportunities 2024: USD 446.40 billion
CAGR from 2024 to 2029 : 16.4%

Market Summary

The market is experiencing significant growth driven by increasing global concerns over climate change and the need for sustainable transportation solutions. Governments worldwide are implementing policies to reduce carbon emissions, leading to a surge in demand for EVs. Furthermore, advancements in battery technology have improved EV range and reduced charging times, making them a more viable alternative to traditional Internal Combustion Engine (ICE) vehicles. However, the EV market faces challenges, primarily the insufficient charging infrastructure. As the number of EVs on the road increases, the demand for charging stations grows, and current infrastructure struggles to keep pace. This issue is particularly acute in rural areas and developing countries, where charging stations are scarce. A real-world business scenario illustrates the importance of addressing this challenge. A logistics company, aiming for operational efficiency and compliance with emissions regulations, invests in a fleet of EVs. However, the lack of charging infrastructure forces the company to frequently divert trucks to cities to recharge, increasing operational costs and delivery times. To mitigate this issue, the company collaborates with local governments and utilities to expand charging infrastructure, ensuring efficient and sustainable operations. In conclusion, the EV market is poised for growth, driven by environmental concerns and technological advancements. However, the insufficient charging infrastructure poses a significant challenge that must be addressed to fully realize the potential of this market.

What will be the size of the Electric Vehicle (EV) Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free SampleThe market continues to evolve, with automotive battery technology at its core. Companies are investing heavily in battery cell manufacturing to improve energy density and reduce charging time. Charging time optimization is a significant concern for consumers, and advancements in high-power battery chargers and smart charging algorithms are addressing this issue. Furthermore, vehicle-to-grid integration and powertrain electrification components are transforming the EV landscape, enabling energy efficiency and grid stability. Electric vehicle infrastructure development is accelerating, with an increasing focus on vehicle electrification technology, electric motor controllers, and power semiconductor devices. Range-extending generators and battery recycling processes are also gaining traction, ensuring the sustainability of the EV market. As businesses navigate this dynamic industry, they must consider electric vehicle regulations and battery management algorithms to ensure compliance and optimize their product strategy. Lithium-ion battery packs remain the dominant technology, but research and development in alternative battery types, such as solid-state batteries, are ongoing. The EV market's growth is driven by the need for cleaner transportation and the increasing availability of charging infrastructure. With continuous advancements in battery technology and charging infrastructure, the future of the EV market looks promising.

Unpacking the Electric Vehicle (EV) Market Landscape

Electric Vehicles (EVs) represent a significant shift in the global automotive landscape, with battery electric vehicles (BEVs) leading the charge. According to industry data, BEVs accounted for 3.1% of global new passenger car sales in 2020, marking a 40% increase from the previous year. This trend is driven by several business-critical factors.

Range anxiety mitigation through advanced energy storage systems and fast charging infrastructure has improved electric vehicle architecture, enabling longer ranges and shorter refueling times. Lightweight materials and powertrain efficiency enhancements have led to a 10% reduction in energy consumption per mile compared to conventional internal combustion engine vehicles. Furthermore, the integration of onboard charger design, solid-state batteries, and motor drive inverters has resulted in electric motor efficiency improvements of up to 95%.

Battery life cycle management and power

The global electric vehicle market size was USD 328.73 billion in 2024 & is projected to grow from USD 437.54 billion in 2025 to USD 4,309.65 billion by 2033.
Report Scope:

The India Electric Vehicle Market Size Was Worth USD 5.39 Billion in 2023 and Is Expected To Reach USD 527.53 Billion by 2032, CAGR of 66.40%.

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Electric Car Market Size 2025-2029

The electric car market size is forecast to increase by USD 2898.1 billion, at a CAGR of 38.5% between 2024 and 2029.

The market witnesses a surging demand and sales of Battery Electric Vehicles (BEVs) globally, driven by increasing environmental concerns and government initiatives to reduce carbon emissions. This trend is further fueled by the continuous launch of new electric car models across various sectors, including luxury (Tesla Model S) and mass-market (Nissan Leaf) segments. However, the high cost of ownership of BEVs, primarily due to the expensive batteries, poses a significant challenge for market growth. Additionally, the infrastructure development for charging stations and the limited driving range of these vehicles are other obstacles that need to be addressed to accelerate market penetration. Companies seeking to capitalize on this market's potential must focus on reducing battery costs and expanding charging infrastructure while offering competitive pricing and improved driving range to attract more consumers.

What will be the Size of the Electric Car Market during the forecast period?

Request Free SampleThe electric vehicle market continues to evolve, driven by advancements in technology and shifting consumer preferences. Electric buses are increasingly adopted in public transportation systems, while electric vehicle policy encourages their use in various sectors. Fire safety and regenerative braking are crucial considerations in the design of these vehicles. Smart cities are integrating electric vehicles into their urban mobility plans, with charging infrastructure becoming a key component. Fuel cell technology and battery technology, including solid-state batteries, are advancing, offering potential solutions to range anxiety and battery life concerns. Commercial electric vehicles, from delivery trucks to utility vehicles, are gaining traction, and the supply chain is adapting to meet the growing demand. Sustainable transportation and emissions reduction are primary objectives, with micro mobility options like electric scooters and bicycles also gaining popularity. The ongoing evolution of electric vehicle software, including over-the-air updates, and advancements in battery management systems are essential to optimizing performance and efficiency. The integration of electric vehicles into public transportation and workplace charging stations further expands their reach. Electric vehicle manufacturing is adapting to meet the demands of this dynamic market, with a focus on lightweight materials and efficient production processes. The market's continuous unfolding is shaped by government incentives, battery recycling, power electronics, and the development of electric vehicle maintenance and recycling programs. The electric vehicle landscape is constantly shifting, with new applications and innovations emerging in the realm of electric motorcycles, electric bicycles, and electric trucks.

How is this Electric Car Industry segmented?

The electric car industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. Vehicle TypeBEVPHEVTypeHatchbackSedanOthersDistribution ChannelOEMsDealershipsOnline RetailVehicle ClassPassenger CarsLight Commercial VehiclesHeavy Commercial VehiclesPrice SegmentEconomyMid-rangePremiumLuxuryBattery TechnologyLithium-ionSolid-stateLithium-iron-phosphateGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth KoreaRest of World (ROW)

By Vehicle Type Insights

The bev segment is estimated to witness significant growth during the forecast period.The Battery Electric Vehicle (BEV) segment is leading the market, fueled by growing environmental consciousness and stricter emission regulations. BEVs, which operate solely on electricity stored in batteries, present a cleaner alternative to conventional vehicles. This trend is reinforced by government incentives and advancements in battery technology, including solid-state and lithium-ion batteries, which enhance range, performance, and affordability. Additionally, the increasing investment in EV charging infrastructure globally supports the expansion of the BEV segment. Hybrid Electric Vehicles (HEVs) and other electric vehicles, such as electric scooters, motorcycles, utility vehicles, buses, trucks, and delivery vehicles, also contribute to the market's growth. Innovations in electric vehicle software, design, and maintenance, including over-the-air updates, battery management systems, and recycling, further boost market momentum. The integration of electric vehicles into public transportation systems, workplaces, and smart cities, as well as the adoption of fuel cell technology and regenerative braking, are shaping the future of sustainable transpo

India Electric Commercial Vehicle Market was valued at USD 6.11 billion in 2025 and is expected to reach USD 17.48 billion by 2031 with a CAGR of 19.16%.

The size of the India Electric Vehicle Market was valued at USD 7.9 Bn in 2023 and is projected to reach USD 219.60 Bn by 2032, with an expected CAGR of 60.80% during the forecast period. Recent developments include: The Indian government has announced plans to invest $1.4 billion in the development of electric vehicle charging infrastructure.

, A number of new electric vehicle models have been launched in India, including the Tata Nexon EV and the MG ZS EV., Several major automakers have announced plans to invest in the Indian electric vehicle market, including Volkswagen, Hyundai, and Ford.. Key drivers for this market are: Government initiatives: The Indian government is actively promoting the adoption of electric vehicles through a number of initiatives, such as the FAME India scheme.

Rising fuel prices: The rising cost of fuel is making electric vehicles more affordable to operate.. Potential restraints include: Lack of charging infrastructure: The lack of charging infrastructure is a major barrier to the adoption of electric vehicles in India.

High cost of electric vehicles: Electric vehicles are still more expensive than conventional vehicles, which is a barrier to adoption for many consumers.. Notable trends are: Growing popularity of electric two-wheelers: Electric two-wheelers are becoming increasingly popular in India due to their affordability and convenience.

Increasing demand for electric commercial vehicles: Electric commercial vehicles are gaining traction, as they offer a number of advantages over conventional vehicles, such as lower operating costs and reduced emissions..

The India Electric Vehicle Leasing Market Report is Segmented by Vehicle Type (Passenger Cars and Commercial Vehicles), Propulsion Type (Battery Electric Vehicles, Plug-In Hybrid Electric Vehicles, and More), End User (Individual Customers, Corporate Fleets, and More), and Duration (Short-Term (Less Than 12 Months), Mid-Term (1–3 Years), and More). The Market Forecasts are Provided in Terms of Value (USD).

India's extended-range multi-mode electric vehicle market is booming, projected to reach ₹2.5 Billion by 2029. Discover key trends, market size analysis, and regional breakdowns influencing this rapidly evolving sector. Learn about the challenges and opportunities shaping the future of electric mobility in India.

Discover the booming India electric car market! This comprehensive analysis reveals market size, growth projections (CAGR), key players (Tata, Mahindra, etc.), segment trends (BEV, HEV, SUV), and challenges. Learn about the future of electric mobility in India. Recent developments include: August 2023: The Dubai Police Department has placed an electric Mercedes EQS 580 on its fleet of luxury cars and environmentally conscious vehicles to patrol the streets.July 2023: Mercedes Benz Camiones y Buses Argentina announced it is investing USD 30 million to add to the USD 20 million Mercedes-Benz Camiones y Buses announced seven months ago to build a logistics and industrial center in Zárate.July 2023: Mercedes-Benz extended the lay-off time of its second shift that is underway at its plant in São Bernardo do Campo, Brazil where it produces trucks and bus chassis, by another month at least thru the end of August.. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.