India xEV System, Semiconductor and Sensor Demand Forecast 2021 to 2030 - July 2023
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This TechInsights data model presents a view of the India outlook for xEV systems and associated semiconductor and sensor demand. The market remains at an early stage but with a primary emphasis towards mild and battery electric vehicle platforms. Deployment of plug-in hybrid and full hybrid vehicles remains at an early stage with indicators that these markets may be bypassed altogether. The almost equal emphasis on mild hybrid platforms will limit the associated demand for more advanced xEV semiconductor and sensor components. Still, the market will grow at a CAAGR of 32% over 2022 - 2027, from just over $190 million to $768 million. The continued momentum will push market demand to $1.2 billion by 2030.
