Indian Alternative Fuel Vehicle Market

  • 4100.00 Dollar US$
  • Published date: January 21, 2020
    • Pune, Pune, Maharashtra, India [ Ads Views - 9 ]

Indian Alternative Fuel Vehicle Market is expected to reach US$ XX Bn by 2026 at a CAGR of XX%.

Indian Alternative Fuel Vehicle Market

Indian Alternative Fuel Vehicle Market Dynamics:

Indian companies are very much focused & investing in powertrain technologies. Due to which, over the next five years there will be downsizing and optimization of around 33 % in internal combustion engines and around 27 % in fuel cell electrical vehicles. The Indian Automotive industry is likely to face further pressure on two fronts. While on one front the regulatory norms are likely to get tougher on safety, emission norms, fuel efficiency, manufacturing defects, and product recalls. On the other hand, the product life cycles are getting shortened, there are frequent changes in product ownership and likely emergence of new product segments.

The primary reason behind the shift towards alternative fuels is to reduce the import dependency on foreign countries, which is burdening the economy. Additionally, Government of India need to take care about environment & need to act against adversely affecting factors. Proactive government initiatives and interest in electric and hybrid vehicles propelling the alternative fuel and hybrid vehicle market growth. Various factors such as demand for fuel-efficient vehicles, stringent government laws & regulations toward vehicle emission such as BS IV and BS VI, developing public infrastructure, technological advancements in alternative fuel vehicles will boost the market and will reach at US$ XX.XX Mn by the forecast period with CAGR XX.XX%.

However, the high costs of fuel and a high initial cost of infrastructure hamper the Indian alternative fuel market growth. In India, petrol and diesel will continue to dominate the fuel market as purchasing decision for a car or any other vehicle majorly depend on fuel efficiency, followed by enhanced cost-effectiveness and vehicle lifespan. Safety measures, innovative technology and comfort of the basic and small car segment is set to accelerate the growth over the next five years. The Indian Alternative Fuel Vehicle Market dynamics are thoroughly studied and explained in the report, which helps reader to understand all the insights & outsights of emerging market trends, drivers, restraints, opportunities, and challenges at regional & country level.

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