In 2023, the global electric vehicle market was valued at US$ 255 Bn. It is forecasted to reach approximately US$ 2,108 Bn by 2033, growing at a significant CAGR of 23% from 2024 to 2033.
Over the next decade in India, significant adoption is expected across the 3W, 2W, e-bus, and Passenger Vehicle segments with an expected ~10 Mn annual volumes (FY24 cumulative domestic volumes were ~1.7Mn). This growth will be driven by favorable government policies, new product launches, declining bill of materials (BoM) costs, and technological advancements, positioning India as a key player in the global EV space.
This presentation provides an in-depth analysis of the evolving global Electric Vehicle (EV) ecosystem, with a special emphasis on India’s emerging role. We are pleased to present an overview of the global EV landscape, with a particular focus on key policy interventions in major economies and India.
The presentation delves into strategic initiatives by leading OEMs and Auto Component Manufacturers that are driving a more sustainable EV ecosystem while showcasing the immense growth opportunities in this rapidly transforming industry
Thematic Research The EV Revolution – September 2024_27-09-2024_16
