The Auto EV India 2022 will host a massive exhibition on EV and Automotive businesses for next-gen technology, innovative products, solutions and trends. The 3-day exhibition will provide an excellent opportunity for Automotive professionals to witness all the latest and the greatest that the EV and Automotive industries have to offer right from Drive System, Batteries, Motor Technologies, Parts and Materials, Controllers, Measurement and Simulation, Production Facilities, Peripherals, Power Devices, Heat-Resistant Products, Inverter, Evaluation and Testing System, Chargers, Connectors, and Harnesses on the technology side to scintillating 2, 3 and 4 wheelers and other electric vehicles on the product side.
Convening the entire EV and automotive ecosystem under a one roof, the exhibition will allow visitors to witness the next-generation technology and the new generation Electric Vehicles giving them the opportunity to engage directly with a large gathering of industry buyers in real-time and build strategic business alliances.
Automotive Sector Running in the top gear
India is expected to be the world’s third-largest automotive market in terms of volume by 2030
The Automobile industry produced a total 22.93 mn vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers, and Quadricycles in April 2021 to March 2022. India holds a strong position in the international heavy vehicles arena as it is the largest tractor manufacturer, second-largest bus manufacturer, and third largest heavy trucks manufacturer in the world.
- Currently, the automobile industry contributes 7.1% of India’s GDP and 49% of its manufacturing GDP.
- The EV market is expected to grow at CAGR of 49% between 2022-2030 and is expected to hit 10 mn-unit annual sales by 2030. The EV industry will create 50 mn direct and indirect jobs by 2030.
- A market size of $50 bn for the financing of EVs in 2030 has been identified—about 80% of the current size of India’s retail vehicle finance industry, worth $60 bn today.
- Passenger vehicles posted highest ever sales at 25,04,084 units in FY 2022-23 as on November 2022. The industry is expected to post a growth of 16% in FY23
- India’s trucking market is expected to grow over 4x by 2050. The number of trucks is expected to more than quadruple, from 4 mn in 2022 to roughly 17 mn trucks by 2050
- India’s Automotive Industry is worth more than $222 bn and contributes 8% of the country’s total export and accounts for 7.1% of India’s GDP and is set to become the 3rd largest in the world by 2030.
- There is a shift in preferences of the customers as they have started to move towards larger/more powerful vehicles across all segments.