info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

Slow Evolving Automotive Market may Impact Green Transition

By Shubhendra Anand , 17 April, 2025

The global automotive industry faces multiple challenges in 2024. It is due to several other reasons apart from its affordability. Since the beginning of 2024, automotive trends have been evolving, shaking the balance of the automotive domain. A survey report of 2024 shows that the slow momentum of consumers towards the adaptability of electric vehicles may impact the green transition. Globally, the nations are focusing on transformation with renewable energies towards clean energy transition by the end of 2050. Around 50 percent of the improvement is expected to be achieved by 2030. Some leading nations, like Sweden and Denmark, are making it to the news headlines. However, the automotive sector has yet to expand its wing with e-mobility.

The Indian automotive market shares the same scenario as the rest of the world. The Indian automotive sector is shifting its focus mainly towards producing electric vehicles to reduce carbon emissions. Studies show that rising middle-class income can drive a strong demand for electric cars. Further, the country assures about 30 percent of sales of new Indian vehicles will be electric vehicles in 2024. Massive investment is another factor driving India's automotive sector globally. If it continues to bring more changes in this domain, India may soon become the leader in shared mobility by 2030. Further, it may provide better ideas and innovation for electric and autonomous vehicles.

According to surveys, India will rapidly evolve in the automotive industry to become the largest EV market by 2030. Hence, the automotive industry's investment plans are expected to be USD 200 billion in the next 10 years. The latest automotive market trends include the electrification of vehicles and connectivity. The era of e-mobility brings a range of EVs into the market. However, high interest rates and high prices of vehicles serve as a hurdle for consumers. Some reports cite that the affordability of conventional vehicles outweighs the demand for electric vehicles.

         Report shows consumer’s demand in Internal Combustion Engine (ICE) vehicles:

EV-VS-ICE-TRENDS-2024.jpg

Latest News

2025.png
Fueling Change Hydrogen Projects Receive Unprecedented Support in 2025

In 2025, the momentum for hydrogen projects on a global level is radically increasing, incorporating hydrogen as a key component alongside other global energy transitions. The introduction of agile capital, regulation, and infrastructure during 2025…

Read More

2025.png
How Cobots are Replacing Conveyor Belts in SMEs Market 2025

In 2025, The “Cobots” Adoption in SMEs Market will Begin Transitioning as Small and Medium Sized Enterprises (SMEs) in Europe, Asia, and North America are cross-adopting collaborative robots (cobots) to enhance intralogistics and material handling…

Read More

IIoT-Startups-Secure-Record-Funding-in-Q2.jpg
IIoT Startups Secure Record Funding in Q2

The unprecedented funding of Industrial Internet of Things (IIoT) startups in Q2 marks a new record, indicating strong investors' confidence against the backdrop of an ongoing digital transformation. IIoT startups seem to be enjoying the animated…

Read More

How-Tesla-and-BMW-Slashed-Downtime-Using-Predictive-Maintenance.jpg
How Tesla and BMW Slashed Downtime Using Predictive Maintenance in 2025

By 2025, Tesla and BMW have adopted predictive maintenance as a way to optimize operations within the automotive industry. Both companies have established AI maintenance systems to address equipment failures which has greatly improved unplanned…

Read More

Overview.png
Africa Off-Grid Solar Solutions Rural Electrification Market Sees Surge in Investment and Innovation in 2025

In 2025, Africa is witnessing significant transformation in the off-grid solar drive rural electrification. With a fast-growing population, and steady expansion of commercial sectors, the demand for clean and affordable energy solutions has been…

Read More

Author Pic
Shubhendra Anand

Head Research