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(Transportation-News.com, February 12, 2019 ) 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 highlights the analysis of the drivers and explains the factors for growth of the industry. Government Initiatives, Rise in fuel costs, Low operating and maintenance cost and foreign dependence for crude oil are the key drivers for the Electric Vehicle Market in India. Recently, MNRE had implemented the Alternate Fuels for Surface Transportation Program to subsidize the purchase of electric vehicles.Domestic electric vehicle industry has witnessed significant short term growth owing to the various initiatives undertaken by the Indian government. Fuel costs play a vital role in influencing the consumer's automobile purchase decision. Indian automobile industry has been witnessing sluggish demand and one of the primary reasons for this is increase in fuel prices. Use of electric vehicles is likely to reduce the increasing dependence on foreign crude oil as electricity can be generated from various natural resources in India. As electric vehicles are considered to be zero-polluting, increasing usage of such vehicles can aid in bringing down the country's level of pollution.
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There are various challenges too that the Electric Vehicle Market faces in India. Low vehicle performance, inefficient battery, Price constraint and power shortage are the major challenges faced by the Electric Vehicle Market in India. Electric vehicles fall short on many accounts: Short charging cycles, inadequate battery capacity, heavy weight of batteries leading to lower speed, limited driving range. Battery is considered as a crucial component in an electric vehicle as it is directly linked to the ease of usage along with the performance of the vehicle. Fortunately, the market is witnessing the influx of Lithium ion batteries which are relatively better than traditional lead acid batteries in terms of better density, improved life cycle, comparatively low self-discharge and low maintenance. Owing to the high battery costs, price constraint has emerged as a major cause for concern for the electric and hybrid vehicles. India is characterized as a power-starved nation with frequent chronic power shortages across the country. Power demand-supply gap acts as a major challenge for the electric vehicle market as it is a power dependent technology. India does not have adequate infrastructure which is required for the growth and development of electric vehicles in the country. Owing to lack of proper charging facilities, these cars can only cover short distances as they can travel only 80 km/charge and needs to be recharged again.
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Table Of Content
Slide 1: Executive Summary
Macroeconomic Indicators
Slide 2: Economic Indicators: GDP at cost factor cost: Quarterly (2011-12- 2014-15) & Inflation rate Monthly (Jul-Aug 2013 - Nov-Dec 2013)
Slide 3: Gross fiscal deficit: Monthly (Feb-2013-Jul 2013) & Exchange Rate: Monthly (Apr 2014- Sep 2014)
Slide 4: Lending rate: Annual (2011-12-2013-14); Trade Balance: Annual (2010-11-2013-14) & FDI: Annual (2009-10-2012-13)
Introduction
Slide 5: Electric Vehicle - Introduction and Types of Electric Vehicles - Technology-wise
Slide 6: Electric Vehicle Market - Transition
Slide 7: Shift towards Electric Mobility
Market Overview
Electric Vehicle
Slide 8: Electric Vehicle Market - Overview, Market Size and Growth (2013-2018e) (Value wise), Market Share - Segment-wise (2012-13)
Slide 9: Vehicle Lifecycle Cost Comparison across Supply Chain - Electric Vehicle vs. ICE Vehicles
Slide 10: Cost Comparison across Manufacturing Process - Electric Vehicle vs. ICE Vehicles
Major Segments
Slide 11: Electric Four Wheelers Market - Overview, Market Size and Growth (2013-2018e) (Value wise), Consumer Preference - Electric Vehicle Technology-wise
Slide 12-13: Electric Two Wheelers Market - Overview, Market Size and Growth (2013-2018e) (Value wise), Consumer Preference, Low Speed and High Speed Electric Two Wheeler Specifications
Slide 13: Electric Three Wheelers - Overview, Market Size and Growth (2013-2018e) (Value wise)
Market Analysis
Slide 14: Matrix of Key Challenges to Electric Vehicle Adoption - Segment-wise
Slide 15: Matrix of Key Consumer Purchase Conditions for Electric Vehicles - Segment-wise
Slide 16: Sensitivity Analysis Matrix for Electric Vehicles - Segment-wise
Slide 17: Matrix of Electric Vehicle Preference - Segment-wise and Tire-wise
Slide 18: Matrix of Consumer Preference for Demand Incentives on Electric Vehicles - Segment-wise
Slide 19: Matrix of Prioritization - Segment-wise, Technology-wise
Drivers & Challenges
Slide 20: Summary
Slide 21- 29: Key Drivers
Slide 30-35: Key Challenges
Government Initiatives
Slide 36-38: Alternate Fuels for Surface Transportation Program
Slide 39-40: National Electric Mobility Mission Plan 2020 (NEMMP 2020) - Overview, Benefits and Structure
Slide 41: NEMMP 2020 - Potential Roadmap for Hybridization/ Electrification
Slide 42: NEMMP 2020- Key Focus Areas
Slide 43-50: Demand Generation
Slide 51-59: Research and Development
Slide 60-72: Manufacturing Incentives
Slide 73-83: Infrastructure Development
Slide 84-87: Total Proposed Investment - Electric Vehicle Segment-wise
Slide 88: NEMMP 2020 - Benefit Analysis Electric Vehicle Segment-wise
Trends
Slide 89: Summary
Slide 90-92: Key Trends
Competitive Landscape
Slide 93: Market Competition- Porter's five forces analysis
Slide 94-96: Competitive Benchmarking
Slide 97-101: Major Public Players
Slide 102-136: Major Private Players
Strategic Recommendations
Slide 137-138: Strategic Recommendations
Appendix
Slide 139: Appendix
Slide 140: Sources of information
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