Chennai: India\u2019s electric vehicle component market will touch \u20b972,500 crore in fiscal 2027, says a latest report by Crisil Research. The segment will grow at a compounded annual growth rate (CAGR) of around 76%.
\nThe EV component market was just \u20b94,300 crore in FY21-22. As the revenues revv up, the electric vehicle share in India\u2019s overall auto component market will hit 9-11% by fiscal 2027, up from a negligible 1% currently, said the report.
\nSaid Pushan Sharma, director, CRISIL Research, \u201cAmong the key auto segments, two-wheelers and passenger vehicles (PVs) are seen driving the transition to electric, with their penetration rising to 19% (from over 2.5% currently) and 7% (from less than 1% currently) respectively, over the next five fiscals.\u201d Commercial vehicles, the other large auto segment, will see far lower penetration at around 3% compared to 0.3% currently because of unfavourable economics, added Sharma.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chennai: India\u2019s electric vehicle component market will touch \u20b972,500 crore in fiscal 2027, says a latest report by Crisil Research. The segment will grow at a compounded annual growth rate (CAGR) of around 76%. The EV component market was just \u20b94,300 crore in FY21-22. As the revenues revv up, the electric vehicle share in India\u2019s overall auto component market will hit 9-11% by fiscal 2027, up from a negligible 1% currently, said the report. Said Pushan Sharma, director, CRISIL Research, \u201cAmong the key auto segments, two-wheelers and passenger vehicles (PVs) are seen driving the transition to electric, with their penetration […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,246,137],"tags":[],"class_list":["post-509218","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/509218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=509218"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/509218\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=509218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=509218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=509218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}