India Automotive Industry Market Scope
The Indian automotive industry is one of the largest and fastest-growing markets in the world, driven by increasing consumer demand, government initiatives, and advancements in technology. India is the fourth-largest automobile market globally and is projected to grow significantly due to rising disposable income, rapid urbanization, and an expanding middle class. The industry encompasses passenger vehicles, commercial vehicles, two-wheelers, and electric vehicles (EVs), with key players including Tata Motors, Mahindra & Mahindra, Maruti Suzuki, Hyundai, and Bajaj Auto. Government policies such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, PLI (Production Linked Incentive) scheme, and the push for sustainable mobility have accelerated EV adoption. Major automakers are investing in EV production and charging infrastructure to align with India's goal of achieving 30% electric vehicle penetration by 2030. Despite its growth, the industry faces challenges such as semiconductor shortages, rising raw material costs, and regulatory changes in emissions and safety norms. However, opportunities lie in digital transformation, connected mobility, and increased localization of manufacturing. With strong domestic demand and exports, India's automotive sector is poised for continued expansion, contributing significantly to the country’s economy and employment generation.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Key Companies Profiled | TVS Motor Company (India), EN.WIKIPEDIA.ORG, Hero MotoCorp (India), Honda Motorcycle & Scooter India Pvt. Ltd. (India), Royal Enfield (India), Bajaj Auto Corp. (India), Suzuki Motorcycle India Private Limited (India), Tata Motors Limited (India), Hyundai Motor India Ltd (India), Mahindra & Mahindra Limited (India) and MG Motor India Pvt. Ltd. (India) |
CAGR | % |
India Automotive Industry market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative combinations and solutions to improve quality, enhances and promotes performance, along with try to incorporate latest technology. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that Global Manufacturers will contribute to the maximum growth of Global India Automotive Industry market throughout the predicted period.
TVS Motor Company (India), EN.WIKIPEDIA.ORG, Hero MotoCorp (India), Honda Motorcycle & Scooter India Pvt. Ltd. (India), Royal Enfield (India), Bajaj Auto Corp. (India), Suzuki Motorcycle India Private Limited (India), Tata Motors Limited (India), Hyundai Motor India Ltd (India), Mahindra & Mahindra Limited (India) and MG Motor India Pvt. Ltd. (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are BMW AG (Germany), Mercedes-Benz India Pvt Ltd (Germany), Lohia Auto Industries (India), Piaggio & C. SpA (Italy) and Scooters India Ltd. (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global India Automotive Industry market by Type and Region with country level break-up.
On the basis of geography, the market of India Automotive Industry has been segmented into Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific).
region held largest market share in the year 2024.
Key Target Audience
Suppliers of Raw Materials, Power Industry, Governmental Bodies, Research Organization and Others