Study Period | 2017 - 2029 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2029 |
Market Size (2025) | USD 1.17 Billion |
Market Size (2029) | USD 2.48 Billion |
CAGR (2025 - 2029) | 20.66 % |
Market Concentration | High |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
India Electric Bus Market Analysis
The India Electric Bus Market size is estimated at 1.17 billion USD in 2025, and is expected to reach 2.48 billion USD by 2029, growing at a CAGR of 20.66% during the forecast period (2025-2029).
India's electric bus industry is undergoing a transformative phase characterized by significant technological advancements and infrastructure development. Major electric bus manufacturers in India are investing heavily in research and development to enhance battery efficiency and vehicle performance. The industry has witnessed a substantial improvement in electric bus charging infrastructure, with the number of public charging stations reaching 10,900 units in 2022. This expansion of charging networks has been complemented by innovations in fast-charging technologies, enabling quicker turnaround times for electric buses in commercial operations. The integration of smart technologies, including real-time monitoring systems and predictive maintenance capabilities, has further enhanced the operational efficiency of electric buses.
The manufacturing landscape has evolved considerably, with domestic players expanding their production capabilities and forming strategic partnerships. Leading manufacturers are establishing dedicated electric bus manufacturing companies in India equipped with advanced automation and quality control systems. For instance, Tata Motors demonstrated its manufacturing prowess by successfully delivering 400 Starbus EV buses to the Delhi Transport Corporation in 2023, highlighting the industry's ability to meet large-scale demands. The sector has also witnessed the emergence of specialized electric bus companies in India, with companies like PMI Electro now operating a fleet of 15,000 electric buses across the country.
The industry is experiencing a notable shift towards sustainable public transport solutions, driven by technological innovation and improved cost economics. Battery pack prices have continued their downward trajectory, reaching 171 USD/kWh in 2023, making electric buses increasingly cost-competitive with traditional diesel alternatives. This price reduction has been accompanied by improvements in battery technology, resulting in enhanced range capabilities and reduced charging times. Manufacturers are also incorporating advanced materials and aerodynamic designs to optimize energy efficiency and reduce operating costs.
The market is characterized by increasing collaboration between technology providers, manufacturers, and public transport authorities. These partnerships are facilitating knowledge transfer, technology adoption, and the development of customized solutions for different operating conditions. Industry stakeholders are focusing on developing comprehensive ecosystem solutions that include not only vehicles but also electric bus components, charging infrastructure, fleet management systems, and maintenance services. The emphasis on localization of component manufacturing has strengthened the domestic supply chain, reducing dependency on imports and creating a more resilient industry structure.
India Electric Bus Market Trends
Government initiatives and stringent norms drive rapid growth in the electric vehicle market in India
- India's electric vehicle (EV) market is in a growth phase, with the government actively formulating strategies to combat pollution. The Fame India scheme, launched in 2015, has played a pivotal role in driving vehicle electrification. Building on its success, Fame Phase 2, active till April 2022, further bolstered EV sales, especially in 2021, with the government offering subsidies like INR 10,000 grants for electric cars with battery capacities up to 15 kWh.
- State governments across India are increasingly incorporating electric buses into their fleets, aiming to transition from internal combustion engine (ICE) buses. This move not only cuts operational costs but also curbs carbon emissions and improves air quality. In a notable move, the Delhi government greenlit the procurement of 300 new low-floor electric (AC) buses in March 2021, with 100 of them hitting the roads in January 2022. These initiatives contributed to a significant 62.58% surge in demand for electric commercial vehicles in India in 2022 over 2021.
- The demand for electric cars has surged in recent times, driven by the government's introduction of stringent norms. In August 2021, the Indian government unveiled the Vehicle Scrappage Policy, targeting the phasing out of polluting and unfit vehicles, irrespective of their age. This policy, set to be implemented by 2024, is steering consumers toward electric cars. Additionally, the government has set an ambitious target of having 30% of all cars in India electrified by 2030. These initiatives are poised to propel electric car sales during the 2024-2030 period in India.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- India's population, driven by factors like a young demographic and improved healthcare, is projected to reach 1,522.77 million by 2030, reflecting steady growth
- The consumer spending for vehicle purchases in Asia-Pacific, as exemplified by India, shows signs of cautious optimism during 2022-2023, following a period of volatility
- India's auto interest rates have shown a consistent downward trend, driven by RBI's measures and evolving lending practices
- India's electric vehicle charging station market surges with 6,800 slow charging and 4,100 fast charging stations in 2022
- Various new entries and new product launches may accelerate the battery pack market in India
- From 2022 to 2023, Mahindra & Mahindra and Tata Motors led India's commercial vehicles sector, with Isuzu showing significant growth; Force Motors and Eicher Motors face challenges due to recent declines
- India's GDP per capita is expected to sustain growth, reaching USD 4,205.47 by 2030
- India's journey toward lower inflation sets the stage for economic resilience and investor confidence
- The combined revenue from shared rides in India is expected to rise consistently driven by factors like technological advancements, urbanization, and shifting consumer preferences
- Electric vehicle sales in India increased because of the falling battery prices and government incentives
- The numerous tax hikes in the country were expected to increase fuel prices in 2023
Segment Analysis: Fuel Category
BEV Segment in India Electric Bus Market
Battery Electric Vehicles (BEVs) dominate the Indian electric bus market, commanding approximately 99% of the market share in 2024. This overwhelming dominance can be attributed to several factors, including substantial government support through the FAME II scheme, which provides significant subsidies for battery electric bus models. The segment's growth is further bolstered by increasing environmental consciousness among public transport authorities and private operators. Major cities across India are actively transitioning their public transport fleets to BEVs, with manufacturers like Tata Motors, Olectra Greentech, and PMI Electro Mobility Solutions leading the charge. The segment's success is also driven by advancements in battery technology, improved charging infrastructure, and decreasing battery costs, making BEVs increasingly cost-effective for operators. As a result, the BEV segment is a cornerstone of India's electric public transportation strategy.
![Market Analysis of India Electric Bus Market: Chart for Fuel Category](https://s3.mordorintelligence.com/india-electric-bus-market/india-electric-bus-market-India-Electric-Bus-Market-Market-Share-by-Fuel-Category-Segment-2024-1737440317784.webp)
FCEV Segment in India Electric Bus Market
The Fuel Cell Electric Vehicle (FCEV) segment represents an emerging frontier in India's electric bus market, with significant growth potential from 2024 to 2029. Starting with initial deployments in 2025, the segment is expected to demonstrate robust growth as hydrogen infrastructure develops across the country. The growth is supported by increasing investments in hydrogen production and distribution networks, coupled with government initiatives promoting clean hydrogen technologies. FCEVs are particularly attractive for long-range routes and heavy-duty applications due to their quick refueling capabilities and extended range compared to battery electric vehicles. The segment's expansion is further supported by collaborations between automotive manufacturers and energy companies to develop a hydrogen ecosystem, making FCEVs a viable alternative for sustainable public transportation, contributing to the rise of zero-emission bus options.
Remaining Segments in Fuel Category
The Hybrid Electric Vehicle (HEV) and Plug-in Hybrid Electric Vehicle (PHEV) segments represent transitional technologies in India's electric bus market. These segments offer operators a bridge between conventional and fully electric buses, combining the benefits of electric propulsion with the reliability of internal combustion engines. HEVs provide improved fuel efficiency and reduced emissions without requiring extensive charging infrastructure, making them suitable for routes where charging facilities are limited. PHEVs offer the flexibility of both electric and conventional operation, making them particularly valuable in regions with developing charging infrastructure. Both segments continue to play a role in India's broader electric bus ecosystem, though their impact is relatively modest compared to BEVs. As the market evolves, these segments will complement the growth of electric mass transit solutions.
India Electric Bus Industry Overview
Top Companies in India Electric Bus Market
The Indian electric bus market is characterized by intense competition among domestic and international players, with companies like Tata Motors, Olectra Greentech, PMI Electro Mobility, and JBM Auto leading the charge. These electric bus manufacturers have demonstrated significant commitment to product innovation through the development of advanced electric powertrains, enhanced battery technologies, and smart connectivity features in their bus offerings. Operational agility has been evident in their rapid response to changing market demands, with manufacturers establishing flexible production facilities and robust supply chain networks. Strategic moves have primarily focused on forming technology partnerships with global players, securing large government contracts, and establishing dedicated electric vehicle divisions. Market expansion strategies have centered on developing comprehensive charging infrastructure networks, setting up new manufacturing facilities in strategic locations, and creating specialized after-sales service networks to support the growing electric bus fleet across Indian cities.
Domestic Players Dominate Growing Market Segment
The Indian electric bus market exhibits a moderate level of consolidation, with domestic manufacturers holding significant electric bus market share against international competitors. Local players have leveraged their understanding of Indian operating conditions, established relationships with state transport authorities, and extensive service networks to maintain their market positions. The market structure is characterized by a mix of pure-play electric vehicle manufacturers and traditional automotive companies that have diversified into the electric segment. This diversity has created a dynamic competitive environment where companies compete through different value propositions, ranging from cost leadership to technology differentiation.
Merger and acquisition activity in the sector has been strategic rather than transformative, with companies primarily focusing on technology acquisitions and forming joint ventures to enhance their capabilities. Traditional automotive manufacturers have opted to create dedicated electric vehicle subsidiaries or partner with technology providers rather than pursue outright acquisitions. This approach has allowed companies to maintain operational flexibility while building specialized expertise in electric mobility solutions. The market has also witnessed the entry of new players through strategic partnerships with established international electric vehicle manufacturers, particularly from China and Europe.
Innovation and Infrastructure Drive Future Success
Success in the Indian electric bus market increasingly depends on manufacturers' ability to balance cost competitiveness with technological advancement. Incumbent players must focus on developing localized supply chains to reduce production costs while maintaining product quality and reliability. Companies need to invest in research and development to improve battery technology, enhance vehicle range, and develop smart features that optimize operational efficiency. The ability to provide comprehensive mobility solutions, including charging infrastructure and fleet management systems, will become increasingly crucial for maintaining market leadership.
For emerging players and contenders, market entry strategies should focus on identifying underserved segments and developing specialized solutions for specific use cases. Success will depend on building strong relationships with state transport authorities and private fleet operators while offering competitive financing solutions. The regulatory environment continues to evolve favorably, with government policies supporting electric bus adoption through subsidies and incentives. However, companies must remain adaptable to potential policy changes and emerging environmental regulations. The concentration of end-users among state transport undertakings and private fleet operators necessitates a focused approach to relationship building and after-sales support, while the risk of substitution from other clean mobility solutions requires ongoing innovation in product development and service offerings.
India Electric Bus Market Leaders
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JBM Auto Limited
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Olectra Greentech Ltd.
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PMI Electro Mobility Solutions Pvt. Ltd.
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Switch Mobility (Ashok Leyland Limited)
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Tata Motors Limited
- *Disclaimer: Major Players sorted in no particular order
India Electric Bus Market News
- September 2023: Tata Motors announced that it supplied 400 Starbus EV buses to the Delhi Transport Corporation (DTC), via its subsidiary TML CV Mobility Solutions Ltd, as a part of its larger order from DTC to supply, maintain, and operate 1,500 low-floor, air-conditioned electric buses for a period 12-years.
- August 2023: Ve Commercial Vehicles Limited announced that it has received an order for 550 Intercity Buses from Vijayan Travels and VT, worth INR 5 billion. The order includes 500 Eicher Intercity 13.5m AC and non AC sleeper coaches and 50 Volvo 9600 luxury sleeper coaches.
- July 2023: Tata Motors, India, filed 158 Patents in FY 2022-23, and R&D spending reached INR 202.65 billion.
Free With This Report
For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.
India Electric Bus Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Population
- 4.2 GDP Per Capita
- 4.3 Consumer Spending For Vehicle Purchase (cvp)
- 4.4 Inflation
- 4.5 Interest Rate For Auto Loans
- 4.6 Shared Rides
- 4.7 Impact Of Electrification
- 4.8 EV Charging Station
- 4.9 Battery Pack Price
- 4.10 New Xev Models Announced
- 4.11 Fuel Price
- 4.12 Oem-wise Production Statistics
- 4.13 Regulatory Framework
- 4.14 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Fuel Category
- 5.1.1 BEV
- 5.1.2 FCEV
- 5.1.3 HEV
- 5.1.4 PHEV
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
-
6.4 Company Profiles
- 6.4.1 Eicher Motors Ltd.
- 6.4.2 JBM Auto Limited
- 6.4.3 Olectra Greentech Ltd.
- 6.4.4 PMI Electro Mobility Solutions Pvt. Ltd.
- 6.4.5 Solaris Bus & Coach S.A.
- 6.4.6 Switch Mobility (Ashok Leyland Limited)
- 6.4.7 Tata Motors Limited
- 6.4.8 VE Commercial Vehicles Limited
- 6.4.9 Volvo Buses India Private Limited
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- POPULATION TRENDS, VOLUME IN UNITS, INDIA, 2017 - 2030
- Figure 2:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, INDIA, 2017 - 2030
- Figure 3:
- AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, INDIA, 2017 - 2030
- Figure 4:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, INDIA, 2017 - 2030
- Figure 5:
- AUTO LOAN INTEREST RATES, PERCENTAGE, INDIA, 2017 - 2022
- Figure 6:
- USED CAR MARKET, REVENUE IN USD, INDIA, 2017 - 2030
- Figure 7:
- ELECTRIC VEHICLE MARKET PENETRATION RATE, BY VEHICLE TYPE, PERCENTAGE OF VOLUME, INDIA, 2017 - 2030
- Figure 8:
- CHARGING STATION DEPLOYMENT, BY TYPE, VOLUME IN UNITS, INDIA, 2017 - 2022
- Figure 9:
- AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, INDIA, 2017 - 2030
- Figure 10:
- ANNOUNCEMENT OF NEW XEV MODELS, BY VEHICLE TYPE, VOLUME IN UNITS, INDIA, 2023 - 2027
- Figure 11:
- FUEL PRICE, BY FUEL TYPE, USD/LITER, INDIA, 2017 - 2022
- Figure 12:
- OEM-WISE PRODUCTION STATISTICS, VOLUME IN UNITS, INDIA, 2017 - 2022
- Figure 13:
- INDIA ELECTRIC BUS MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 14:
- INDIA ELECTRIC BUS MARKET, VALUE IN USD, 2017 - 2030
- Figure 15:
- INDIA ELECTRIC BUS MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 16:
- INDIA ELECTRIC BUS MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 17:
- INDIA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 18:
- INDIA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 19:
- INDIA ELECTRIC BUS MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 20:
- INDIA ELECTRIC BUS MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
- Figure 21:
- INDIA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 22:
- INDIA ELECTRIC BUS MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 23:
- INDIA ELECTRIC BUS MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
- Figure 24:
- INDIA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 25:
- INDIA ELECTRIC BUS MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 26:
- INDIA ELECTRIC BUS MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
- Figure 27:
- INDIA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 28:
- INDIA ELECTRIC BUS MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 29:
- INDIA ELECTRIC BUS MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
- Figure 30:
- INDIA ELECTRIC BUS MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 31:
- INDIA ELECTRIC BUS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 32:
- INDIA ELECTRIC BUS MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 33:
- INDIA ELECTRIC BUS MARKET SHARE(%), BY MAJOR PLAYERS
India Electric Bus Industry Segmentation
BEV, FCEV, HEV, PHEV are covered as segments by Fuel Category.Fuel Category | BEV |
FCEV | |
HEV | |
PHEV |
Market Definition
- Vehicle Type - The category includes Medium and Heavy Duty Buses.
- Vehicle Body Type - This include Bus category.
- Fuel Category - The category exclusively covers electric propulsion systems, including various types such as HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles).
Keyword | Definition |
---|---|
Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.