India (EV) Electric Vehicle Market Share, Latest Trends, Analysis and Forecast 2023-2028
How Big is the India (EV) Electric Vehicle Market ? The India electric vehicle market size reached US$ 772 Million in 2022 . Looking forward, IMARC Group expects the market to reach US$ 19,980 Million by 2028 , exhibiting a growth rate (CAGR) of 69% during 2023-2028. An electric vehicle (EV) is powered by rechargeable batteries or other energy storage systems onboard the automobile. It produces zero tailpipe emissions and aids in reducing pollution and greenhouse gas emissions. It is more energy-efficient than vehicles powered by internal combustion engines. It provides quick acceleration due to instant torque, generates less noise, and contributes to a quieter environment. It helps decrease respiratory and other health problems related to poor air quality. It requires lower maintenance costs as compared to conventional cars. Besides this, it has regenerative braking systems, which recover the energy usually lost during braking and convert it into electri...