The Registrations of hybrid vehicles in India attained a value of 26,637 Units in 2020
The indicator recorded a historical growth (CAGR) of 220% between 2017 to 2020, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
Automotive Industry in India
The value of the Indian automotive manufacturing industry is expected to grow in 2021, recovering from the sharp decline in production a year earlier due to the COVID-19 pandemic. The industry is set to follow a strong growth trajectory during the forecast period given that the macroeconomic environment will continue to improve. The strong growth of exports, as well as domestic demand fueled by the rising disposable income of the local population, have supported the expansion of the Indian automotive manufacturing industry in recent years. The Indian passenger vehicle market is highly concentrated with five brands accounting for more than two-thirds of the market in 2020.
The Indian market had been led by A-segment passenger vehicles like the Maruti Alto, which continues to lead the way in the segment. As economic growth progressed the market shifted to vehicles in the next segment up, with the sales lead passing to the B-segment – a segment also dominated by Maruti-Suzuki with around half of the market through its Dzire, Baleno and Swift. Now, the B-segment itself has started to be a victim of progression with its market share eroded in recent years by mini and compact SUVs.
The hybrid and electric cars market consists of the initial retail sale/registration of new electric and hybrid passenger cars. Passenger cars include saloons, hatchbacks, SUVs, 4x4s and other related vehicles. The hybrid cars segment refers to all types of hybrid electric cars such as plug-in hybrid electric vehicles (PHEVs), Extended Range Electric Vehicles (EREVs) and standard Hybrid Electric Vehicles (HEVs). Other alternative fuel vehicles (e.g. LPG or Hydrogen fuel cell) are not included.
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