While the Indian automotive industry is poised to continue its growth trend in the future, it will be challenged by infrastructure hurdles, particularly within cities. Urban centers are India’s growth engines; however, due to the massive influx of cars in cities, hyperlocal commuting challenges like congestion and pollution are detrimental to the India Growth story. This will make personal mobility far more important than individual car ownership, spurring demand for public transport and new and innovative shared mobility solutions.
These observations formed part of the S&P Global Mobility India Look Forward report. S&P Global Mobility is a division of S&P Global which in turn is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity, and automotive markets.
The report noted that the Indian mobility sector is a true growth engine and is at the threshold of major change. The industry has effectively changed gears from “Small is Beautiful” to “The Bigger the Better,” as SUVs have taken the place of low cost-and-cheerful subcompact hatchbacks.
The growing economy, higher disposable income, rising aspirations of the middle class and the rapid pace of infrastructural developments is accelerating this trend. In 2023, India may again surpass Japan to become the 3rd largest car market in the world.
Ambitious policy initiatives and industry support extended by the current government provides strong impetus for the industry to excel in the right direction. India is committed toward a final goal of net zero emissions, and the automotive sector is a key contributor in leading the task of carbon footprint reduction. From adopting cleaner fuels, making more efficient vehicles, and switching to electric vehicles, the Indian automotive industry is leading the decarbonization journey. The Indian automotive sector has developed innovative solutions by providing efficient “long haul” and “last mile” connectivity.
In a heterogenous market like India there will always be diversity in consumer needs – especially depending on the region of the country. Consumer adoption and penetration of technologies like ICE, BEV, hydrogen, flex fuel, biofuel, and natural gas each could have specific regional presences based on local infrastructure and grids.
In India, the world’s most populous nation, the mobility of 1.4 billion people will be defined in line with improvements in infrastructure, investment, innovation, and inclusivity.
BorgWarner has clinched an agreement with a major North American OEM to supply its bi-directional 800V Onboard Charger (OBC) for the automaker’s premium passenger vehicle battery electric vehicle (BEV...
Uno Minda, a leading tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEMs), has unveiled an innovative range of side stand sensors and switches that use advanc...
As the adoption of electric vehicles (EVs) continues to grow, Honeywell has created innovative solutions to address safety concerns across the spectrum of EV manufacturing and use.