India Electric Vehicle Market Size, Forecasts to 2032.

The India Electric Vehicle Market Size is expected to reach USD 161.12 Billion by 2032, at a CAGR of 47.9% during the forecast period 2022 to 2032. The market is witnessing an increase in the demand for and adoption of electric micro-mobility vehicles such as electric two-wheelers and electric three-wheelers. Due to rapidly increasing traffic congestion, the Indian market is particularly price-sensitive, and the bulk of the Indian people favor two-wheelers for daily transportation.