The India E-Fuel market is anticipated to grow at a CAGR 17.8% during the forecast period. Sustainability of resources has been a key topic for discussion across the globe. As the demand to preserve the existing non-renewable resources increase, the demand of use of alternate fuels for propulsion of vehicles across the globe has increased significantly. This is expected to be one of the prime reasons which are expected to promote the growth of the market over the forecast period. India is one of the largest automotive markets all across the globe. In 2017, according to Society of Indian Automotive Manufacturer; the sales of the passenger vehicle have been increased by 9.2% year on year basis. Passenger Vehicles, Passenger Cars, Utility Vehicles & Vans grew by 3.8%, 30% and 2.3% respectively.
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The government of India is emphasizing on use of alternative fuels so as to curb pollution. The government has made a blueprint to increase its investment in promoting the use of bio-ethanol being produced form biomass and not the conventional ethanol production. The oil ministry in a draft released in 2017 stated that the government is eyeing at increasing the production of ethanol to 1 billion liters per annum will be achieved by the end of 2030. The budget allocated for the same was nearly around $714.5 million. Such measures are expected to create opportunities for the growth of the market over the forecast period.
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Indian E-Fuel market is segmented on the basis of fuel type, application and state of fuel. Based on fuel type, the market is segmented into E diesel, E gasoline, ethanol and hydrogen. Based on application, the market is segmented into portable, stationary and transportation. Based on state of fuel, the market is segmented into liquid fuel and gas fuel.
The key players that are active in the market include Audi AG, Ballard Power Systems Inc., Ceres Power Holdings PLC, FuelCell Energy, Inc., Honda Motors, Indian Oil Corp., Reliance Industries Ltd and Toyota Motor Corp. among others.
Market Segmentation
Indian E-Fuel Market by Fuel Type
- E Diesel
- E Gasoline
- Ethanol
- Hydrogen
Indian E-Fuel Market by Application
- Portable
- Stationary
- Transportation
Indian E-Fuel Market by State of Fuel
- Liquid Fuel
- Gas Fuel
Company Profiles
- Audi AG
- Ballard Power Systems Inc.
- Ceres Power Holdings PLC
- FuelCell Energy, Inc.
- Honda Motors
- Indian Oil Corp.
- Reliance Industries Ltd
- Toyota Motor Corp.
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