Electric Vehicle (EV) Market Size in India 2022 | Share, Report and Forecast till 2027
The latest research study “ India Electric Vehicle Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 ” by IMARC Group, finds that the India electric vehicle market share reached a value of US$ 404 Million in 2021 . Looking forward, IMARC Group expects the market to reach US$ 14,913 Million by 2027 , exhibiting at a CAGR of 87% during 2022-2027. What is India Electric Vehicle? How Big is India Electric Vehicle Market? Electric vehicles or EVs are self-propelling automobiles that operate on electricity. They consist of an electric motor that requires a constant energy supply from batteries to function. Some standard electric vehicles include battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. They can be charged by self-charging devices, such as turbochargers and regenerative braking systems, that convert kinetic energy into electrical energy. EVs have also emerged as a co...