India Electric Vehicle

Market Overview Report

IESA’s very first edition of India Electric Vehicle Market Overview report covers
the present scenario and forecast of EVs and the public charging infrastructure
market in the country. The report covers updated revenue and unit sale details
by various EV segments and Charging Infrastructure types. There is an in-depth
analysis of EV battery value chain by EV segment, detailed state EV policy
analysis, and competitive analysis of EVs and EV battery suppliers.

The EV market in India has gained significant momentum after the

implementation of FAME India scheme. The total EV sales in 2018 hit 365,920
Units and expected to grow at a CAGR of 36% till 2026. The EV battery market
in India is estimated to be US$ 520 Million in 2018 and forecasted to grow at a
CAGR of 30% till 2026. The total MWh addition in 2018 hit 4.75 GWh and
expected to grow till 28.0 GWh by 2026.

Market Segments: EV segments: Electric Two wheelers, Low speed Three

wheelers, High-speed three wheelers, Personal electric Cars, Commercial Fleet
Electric cars, Electric buses. EV Public charging Infrastructure Segments:
Type 1 AC (upto 3.3kW), Type 2 AC (3-22kW), Fast DC (15-150kW)

Key Questions the Report Answers:

How is the EV market going to be in the country till 2026?

Which EV segment is expected to have the highest growth and why?
How the EV battery demand expected to grow in the country in the
next 5 years?
Which States in the country have the most supportive EV policy?
How is the EV market supported by public charging infrastructure
during the next 5 years?
What are the various business models for public charging stations in
the country?
 India Electric Vehicle Market Summary

EV Sales, India, 2019, Total: ~4.2 Lakhs Battery Technology Split by Capacity,India, 2019
350000 Total: 5.4GWh
300000
250000 93%
7%
200000
Units

150000 Lead acid

100000 Lithium ion
50000
0
E2W Low Speed E3W
High Speed E3W E4W E-Buses The report projects EV and EV battery forecasts in two different scenarios
namely- BAU and NEV defined as below.

Battery Demand Split, EV’s, India, 2019 In Business as Usual (BAU) scenario, it is predicted that the
3% market will grow at a similar pace as it is growing today. The
1% 4%
market is expected to increase rapidly after 2023-24 as Electric
Vehicles are expected to reach cost parity with the ICE vehicles.

In the National EV (NEV) scenario, it is predicted that the market will

grow rapidly with support from the government to achieve the targets
92% defined under FAME-2 scheme & NEMPP2020. Policies such as banning
the sales of ICE 2W & 3W in highly polluted cities, scrapping of old
E2W E3W E4W Electric Bus vehicles, stringent emission norms etc. will further drive the sales. State
governments will also facilitate in accelerating the deployment of EV’s to
achieve the targets defined under their EV policies.
 3.2 Electric Three-Wheeler Market
Table of Contents • Market Overview of Low speed & High speed
E3W’s
• Sales estimation of key players in the segment
1. Executive Summary • Key parameters of Low speed E3W such as (Avg.
Cost, Avg. Motor size & cost, cost & size of battery
 Global EV Market Outlook in 2018 pack, charger, life, and resale value)
 India EV Market Outlook in 2018 • Battery Technology Split (Share of Lead vs Lithium
 EV Market Outlook, India, 2018 - 2026 ion battery)
 Battery Demand Outlook for EV’s, India, 2018 - 2026 • Battery Demand Estimation and Share of different
 Cumulative Battery demand for EV’s, India, 2018 - 2026 battery chemistries
 Battery Market Opportunity for EV’s (Million $/ INR Crore) • Key Lithium ion battery pack providers
 EV Market Drivers
 Key Opportunities & Challenges in the EV Ecosystem 3.3 Electric Four-Wheeler Market
 Public EVSE Market Outlook, India, 2018
 EV Charger Market Revenue Forecast, India, 2018-2026 • Personal Electric Car Market Overview
• Cost Parity Analysis of E4W vs ICE 4W
2. Market Segmentation • Fleet Electric Car Market Overview
• Market share analysis of key OEMs
 Classification of Conventional Vehicle Market in India • Battery Demand Estimation & Share of different
 Classification of Electric & Hybrid Vehicle Market in India Lithium ion chemistries
 Classification of Battery Technology for EV’s & Hybrid • Upcoming Electric Cars in India Market
Vehicles
 Comparison of Technical Parameters of different Battery 3.4 Electric Bus market
Chemistries
• Market Overview
3. EV Market Overview • Market Share Analysis of Key OEMs
• Battery Demand Estimation & Share of different
 India EV Market Outlook in 2018 Lithium ion chemistries
Battery Pack Supply Chain for EV’s in India (EV OEMs- Battery • Market Share Analysis of Key Battery pack
Cell Supplier- Battery Pack Supplier) suppliers
3.1 Electric Two-Wheeler Market • Key Lithium ion battery cell suppliers
• E2W Sales Trend (2011-12 to 2018-19)
4. EV Policy Outlook in India
• Market Share Analysis of key OEMs
• Battery Technology Split of E2W’s • Developing Policy Scenario
• Key EV Policy Stakeholders
• Battery Demand Estimation & Types of Li-ion chemistries.
• Implementation of FAME India scheme
• Key Battery pack suppliers in E2W segment • Key Highlights of FAME-1 scheme
 • Introduction to FAME-2 scheme 6. EV Support Infrastructure Market
• Electric buses sanctioned by DHI under FAME-2
• Phased Manufacturing Program for EV’s • EV Support Infrastructure Market Segmentation
• Revised Phased Manufacturing Program for EV’s • Basics of EV Charging
State EV Policies • Global Charging Station Conceptualization
• Global EV Charger Connectors
• Comparison of State EV Policies
• India EV Charging Infra Standards
4.1 Karnataka EV Policy
• Public Charging Station Guidelines by MoP
4.2 Andhra Pradesh EV Policy
• EV Charger Cost, Duration and Characteristics
4.3 Maharashtra EV Policy
• 2018 EV Charger OEMs Market Share*
4.4 Kerala EV Policy
• 2018 Charging Network Operator* Market Share
4.5 Uttarakhand EV Policy
• EV Charger Market Policies & Guidelines
4.6 Uttar Pradesh EV Policy
• MOP Charging Infrastructure Roll-Out Plan
4.7 Telangana Draft EV Policy
• DHI EOI for Charging Infrastructure Under FAME II
4.8 Delhi Draft EV Policy
• Tariff for EV Charging
• India EV Charger Market Developments 2017-19
5. EV Market Forecast
• Public EV Charger Market— Unit Forecast
• Electric Vehicle Market Outlook • EV Charger — Connected Load Forecast
• Battery Demand Outlook • EV Charger Revenue Forecast
• E2W Market Forecast • EV Charging Infrastructure Value Chain
• Battery Demand Forecast for E2W’s • Business Models
• Low Speed E3W Market Forecast • Major EV Charging Station Tenders
• Battery Demand Forecast for Low Speed E3W’s • EV Charging Infrastructure Value Chain
• High Speed (L5M) E3W Market Forecast • Major EV Charging Station Tenders
• Battery Demand Forecast for High Speed E3W’s • Charging Network Operators in India
• Personal Electric Car Market Forecast • Partnerships in the EVSE Market
• Battery Demand Forecast for Personal Electric Cars • Challenges faced by Industry Stakeholders
• Fleet Electric Car Market Forecast • Next Steps in EV Charging
• Battery Demand Forecast for Fleet Electric Cars • Solar EV Charging Stations
• Electric Bus Market Forecast • Battery Swapping Stations
• Battery Demand Forecast for Electric buses
 Research Methodology
Key Battery Companies covered in the Report*

Data Collection: IESA reports are formulated

based on data collection majorly from primary
sources (80%) and 20% of data is based on
extensive desk research to identify most relevant
secondary information.

Primary research through interviews with key industry personnel, and

* Not an exhaustive list government institutions such as Niti Aayog, Automotive Research
Association of India (ARAI), International Centre for Automotive
Technology (ICAT), Energy Efficiency Services Limited (EESL),
Department of Science & Technology (DST), Society of Manufacturers
of Electric Vehicles (SMEV) and other industry stakeholders

Analysis and forecast model generation: Based

on data collected, our in-house subject matter
experts convert them into critical insights.
Bottom-up and top-down approaches are
conducted, and by data triangulation the market
size is estimated.
Key EV OEMS covered in the report*

For each of the segments in the study, individual

market forecast models are developed
considering various factors, trends and data, to
project the market forecast till 2026.

Two cases have been considered to estimate

market growth, namely Business as usual (BAU)
which refers to normal conduct of business and
National EV scenario (NEV) which refers to
Government push, stringent emission norms,
state level policy developments and projects.

*Not an exhaustive list

Sample Graphs for data covered in the report, for Cumulative Battery Demand, NEV Scenario, 2018-2026

representative purpose only and not indicative of real

GWh
data.

2018 2019 2020 2021 2022 2023 2024 2025 2026

NEV Scenario, EV Sales, 2018-26 E2W Low Speed E3W High Speed E3W (L5M) E4W (Personal) E4W(Fleet) E-Buses)

Cumulative Battery Demand, BAU Scenario, 2018-

2026

GWh
2018 2019 2020 2021 2022 2023 2024 2025 2026
E2W Low Speed E3W High Speed E3W (L5M) E4W (Personal) E4W(Fleet) E-Buses)

E2W Low Speed E3W E3W (L5M) E4W (Personal) E4W(Fleet) E-Buses

BAU Scenario, EV Sales, 2018-26

Contact Us
For enquiries on the report, please contact

India Energy Storage Alliance

A 501, GO Square, Aundh - Hinjewadi Link Rd, Wakad

Pune, Maharashtra 411057 India | Phone: 91-20-32407682

info@ces-ltd.com contact@indiaesa.info

E2W Low Speed E3W E3W (L5M)