Summary

Market Overview India Electric Commercial Vehicle Market was valued at USD 6.11 billion in 2025 and is projected to reach USD 17.48 billion by 2031, registering a CAGR of 19.16% during the forecast period. The market is undergoing rapid transformation, fueled by favorable government incentives, technological progress, and an increasing focus on sustainable transportation. Electric commercial vehicles are gaining prominence in urban freight and public transport due to their lower operating costs and compliance with emission standards. The reduction in battery prices and improvements in vehicle range and load capacity are further driving adoption. Intra-city logistics and fleet services are witnessing a gradual shift toward electrification as businesses focus on cost efficiency and environmental responsibility. Additionally, increased domestic manufacturing, supported by supply chain localization and industrial policy frameworks, is expected to improve production capacity and accelerate market expansion. Key Market Drivers Government Support and Incentives The Indian electric commercial vehicle market is being bolstered by policy frameworks such as the FAME II scheme, which offer financial subsidies, tax reliefs, and incentives for infrastructure development. As of October 31, 2024, the Ministry of Heavy Industries reported that 1.59 lakh electric three-wheelers and 5,131 electric buses had received benefits under FAME II. Furthermore, INR 6,577 crore was allocated in subsidies, and 10,985 public charging stations were approved to strengthen the EV ecosystem. These policy-driven initiatives are accelerating the deployment of electric vehicles across logistics, public transit, and commercial sectors. Key Market Challenges Limited Charging Infrastructure A major obstacle to wider adoption of electric commercial vehicles is the insufficient availability of charging infrastructure. Urban and intercity routes often lack high-capacity and rapid charging stations required for commercial applications like trucks and buses. Fleet operators mostly rely on private depot-based charging, which demands significant initial investment. The absence of public fast-charging stations restricts operational flexibility and scalability. Moreover, inconsistencies in charging standards and unreliable electricity access in remote locations hinder the establishment of a seamless charging network. Key Market Trends Telematics and Smart Fleet Integration The integration of telematics and IoT technologies in electric commercial vehicles is becoming increasingly prevalent. These digital tools provide real-time vehicle tracking, predictive maintenance alerts, route optimization, and energy usage analytics. Fleet operators benefit from improved visibility, lower operational costs, and enhanced vehicle performance. In sectors like logistics and public transport, connected fleet solutions help manage uptime and resource allocation more efficiently. This growing reliance on intelligent vehicle management is prompting manufacturers and fleet service providers to incorporate telematics as a built-in feature. Key Market Players • Ashok Leyland Ltd • Eicher Motors Limited • Infraprime Logistics Technologies Pvt Ltd • JBM Motor Limited • Mahindra & Mahindra Limited • Olectra GreenTech • Omega Seiki Mobility Limited • PMI Electro Mobility • Tata Motors Limited Report Scope: In this report, the India Electric Commercial Vehicle Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below: • India Electric Commercial Vehicle Market, By Vehicle: o Light Commercial Vehicle (LCV) o Heavy Commercial Vehicle (HCV) o Buses • India Electric Commercial Vehicle Market, By Battery: o <50kWh o 50–150kWh o >150kWh • India Electric Commercial Vehicle Market, By Propulsion: o Battery Electric Vehicle (BEV) o Plug-in Hybrid Vehicle (PHEV) o Fuel Cell Electric Vehicle (FCEV) • India Electric Commercial Vehicle Market, By End Use: o Logistics o Last Mile Delivery • India Electric Commercial Vehicle Market, By Region: o North o East o West o South Competitive Landscape Company Profiles: Detailed analysis of the major companies present in the India Electric Commercial Vehicle Market. Available Customizations: India Electric Commercial Vehicle Market report with the given market data, TechSci Research, offers customizations according to the company’s specific needs. The following customization options are available for the report: Company Information • Detailed analysis and profiling of additional market players (up to five).

ページTOPに戻る

Table of Contents

1. Introduction 1.1. Product Overview 1.2. Key Highlights of the Report 1.3. Market Coverage 1.4. Market Segments Covered 1.5. Research Tenure Considered 2. Research Methodology 2.1. Methodology Landscape 2.2. Objective of the Study 2.3. Baseline Methodology 2.4. Formulation of the Scope 2.5. Assumptions and Limitations 2.6. Sources of Research 2.7. Approach for the Market Study 2.8. Methodology Followed for Calculation of Market Size & Market Shares 2.9. Forecasting Methodology 3. Executive Summary 3.1. Overview of the Market 3.2. Overview of Key Market Segmentations 3.3. Overview of Key Market Players 3.4. Overview of Key Regions 3.5. Overview of Market Drivers, Challenges, and Trends 4. Voice of Customer 4.1. Brand Awareness 4.2. Factor Influencing Availing Decision 5. India Electric Commercial Vehicle Market Outlook 5.1. Market Size & Forecast 5.1.1. By Value 5.2. Market Share & Forecast 5.2.1. By Vehicle Market Share Analysis (Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), Buses) 5.2.2. By Propulsion Market Share Analysis (Battery Electric Vehicle (BEV), Plug in Hybrid Vehicle (PHEV)), Fuel Cell Electric Vehicle (FCEV)) 5.2.3. By Battery Market Share Analysis (<50kwh, 50-150 kwh,>150kwh) 5.2.4. By End Use Market Share Analysis (Logistics, Last mile Delivery) 5.2.5. By Region Market Share Analysis 5.2.6. By Top 5 Companies Market Share Analysis, Others (2025) 5.3. India Electric Commercial Vehicle Market Mapping & Opportunity Assessment 6. North India Electric Commercial Vehicle Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Vehicle Market Share Analysis 6.2.2. By Battery Market Share Analysis 6.2.3. By Propulsion Market Share Analysis 6.2.4. By End Use Market Share Analysis 7. East India Electric Commercial Vehicle Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Vehicle Market Share Analysis 7.2.2. By Battery Market Share Analysis 7.2.3. By Propulsion Market Share Analysis 7.2.4. By End Use Market Share Analysis 8. West India Electric Commercial Vehicle Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value 8.2. Market Share & Forecast 8.2.1. By Vehicle Market Share Analysis 8.2.2. By Battery Market Share Analysis 8.2.3. By Propulsion Market Share Analysis 8.2.4. By End Use Market Share Analysis 9. South India Electric Commercial Vehicle Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value 9.2. Market Share & Forecast 9.2.1. By Vehicle Market Share Analysis 9.2.2. By Battery Market Share Analysis 9.2.3. By Propulsion Market Share Analysis 9.2.4. By End Use Market Share Analysis 10. Market Dynamics 10.1. Drivers 10.2. Challenges 11. Market Trends & Developments 12. Porters Five Forces Analysis 13. Policy & Regulatory Landscape 14. India Economic Profile 15. Disruptions: Conflicts, Pandemics and Trade Barriers 16. Competitive Landscape 16.1. Company Profiles 16.1.1. Ashok Leyland Ltd 16.1.1.1. Business Overview 16.1.1.2. Company Snapshot 16.1.1.3. Products & Services 16.1.1.4. Financials (As Per Availability) 16.1.1.5. Key Market Focus & Geographical Presence 16.1.1.6. Recent Developments 16.1.1.7. Key Management Personnel 16.1.2. Eicher Motors Limited 16.1.3. Infraprime Logistics Technologies Pvt Ltd 16.1.4. JBM Motor Limited 16.1.5. Mahindra & Mahindra Limited 16.1.6. Olectra GreenTech 16.1.7. Omega Seiki Mobility Limited 16.1.8. PMI Electro Mobility 16.1.9. Tata Motors Limited 17. Strategic Recommendations 18. About Us & Disclaimer