India's Electric Mobility Market Poised to Hit $250 Billion by 2030
POWER & RENEWABLE ENERGY

India's Electric Mobility Market Poised to Hit $250 Billion by 2030

India's electric mobility sector is on track to become a $250 billion market by 2030, fueled by substantial investments in sustainable transportation, according to the ELECTRIFY30 report by Praxis Global Alliance. The report forecasts a significant rise in electric vehicle (EV) adoption, with the product opportunity expected to reach $94 billion and EV penetration to hit 23% by FY30.

Both passenger and commercial vehicles, including two-wheelers and four-wheelers, are driving this growth. The services segment is also set to expand, growing from $26 billion in FY24 to $144 billion by FY30, with services like E-Buses, E-Cabs, and E3Ws leading the way.

India's focus on building EV infrastructure is evident, with a current EV-to-charging station ratio of 9:1, and government initiatives aiming to achieve a 4:1 ratio, aligning with global standards.

Technological advancements are further boosting the appeal and cost-effectiveness of EVs. The software solutions market is expected to grow from $0.4 billion in FY24 to $1.6 billion by FY30. Additional growth opportunities include India's potential as a manufacturing hub, the development of connected and autonomous vehicles, Mobility as a Service (MaaS), battery recycling, EV exports, and carbon credit initiatives.

Aryaman Tandon, Managing Partner - Mobility, Energy, and Transportation at Praxis Global Alliance, emphasized the dual economic and environmental benefits of this shift, highlighting the report?s insights as key to driving India's electric mobility transformation.

India's electric mobility sector is on track to become a $250 billion market by 2030, fueled by substantial investments in sustainable transportation, according to the ELECTRIFY30 report by Praxis Global Alliance. The report forecasts a significant rise in electric vehicle (EV) adoption, with the product opportunity expected to reach $94 billion and EV penetration to hit 23% by FY30. Both passenger and commercial vehicles, including two-wheelers and four-wheelers, are driving this growth. The services segment is also set to expand, growing from $26 billion in FY24 to $144 billion by FY30, with services like E-Buses, E-Cabs, and E3Ws leading the way. India's focus on building EV infrastructure is evident, with a current EV-to-charging station ratio of 9:1, and government initiatives aiming to achieve a 4:1 ratio, aligning with global standards. Technological advancements are further boosting the appeal and cost-effectiveness of EVs. The software solutions market is expected to grow from $0.4 billion in FY24 to $1.6 billion by FY30. Additional growth opportunities include India's potential as a manufacturing hub, the development of connected and autonomous vehicles, Mobility as a Service (MaaS), battery recycling, EV exports, and carbon credit initiatives. Aryaman Tandon, Managing Partner - Mobility, Energy, and Transportation at Praxis Global Alliance, emphasized the dual economic and environmental benefits of this shift, highlighting the report?s insights as key to driving India's electric mobility transformation.

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?