Market Size of india passenger car Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 39.82 Billion |
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Market Size (2029) | USD 53.04 Billion |
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CAGR (2024 - 2029) | 5.90 % |
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Largest Share by Sub Body Type | Sports Utility Vehicle |
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Fastest Growing by Sub Body Type | Multi-purpose Vehicle |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Indian Passenger Car Market Analysis
The India Passenger Car Market size is estimated at USD 39.82 billion in 2024, and is expected to reach USD 53.04 billion by 2029, growing at a CAGR of 5.90% during the forecast period (2024-2029).
- Largest Segment by Fuel Type - Gasoline : The Indian passenger car market has gasoline as the largest fuel type, due to the traditional fuel choice has an advantage over other fuel sources due to its easy availability, makes Olectra the 3rd leading player.
- Fastest-growing Segment by Fuel Type - HEV : The governmental subsidies for BEV along with norms, continued encouragement of BEV adoption among private auto owners which is making BEV the fastest growing segment in passenger car sales in India.
- Largest Segment by Body Type - Passenger Vehicles : Hatchback vehicles dominated the market primarily due to the launch of new models and the growing emphasis on the increased fuel efficiency and parking space.
