Market Size of india hybrid vehicles Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 0.42 Billion |
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Market Size (2029) | USD 1.28 Billion |
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Largest Share by Vehicle Type | Commercial Vehicles |
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CAGR (2024 - 2029) | 24.97 % |
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Fastest Growing by Vehicle Type | Commercial Vehicles |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Hybrid Vehicles Market Analysis
The India Hybrid Vehicles Market size is estimated at USD 0.42 billion in 2024, and is expected to reach USD 1.28 billion by 2029, growing at a CAGR of 24.97% during the forecast period (2024-2029).
- Fastest-growing Segment by Body Type - Light Commercial Vans : The Market for the passenger vehicles segment is increasing due to government stringent norms on vehicular emission coupled with a high sales volume of passenger cars.
- Largest Segment by Body Type - Medium-duty Commercial Trucks : Government support through rebates, incentives, and growing demand for low or zero-emission vehicles has increased the demand for passenger cars, benefitting the passenger vehicle segment in India.
