India Electric Vehicle Market To Reach $152.21 Billion By 2030

 

India Electric Vehicle Market Growth & Trends

The India electric vehicle market size is expected to reach USD 152.21 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 40.7% from 2025 to 2030. The stringent regulations being drafted by the Indian government in response to the rising levels of vehicular emissions and the growing demand for environment-friendly vehicles are expected to drive the growth of the market over the forecast period. The efforts being pursued by the government to develop sustainable charging infrastructure in India also bodes well for the growth of the market.

Although the electric vehicle market in India is in its nascent stages at present, it is poised to emerge as one of the leading electric vehicle markets in the world. The Indian government has been pursuing consistent and committed efforts and has already drafted dedicated EV policies and rolled out various demand and supply incentives as part of the efforts to encourage the adoption of e-mobility across various market segments. For instance, India’s Department of Heavy Industry (DHI), under the National Electric Mobility Mission Plan (NEMMP) 2020, has formulated the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme to support the development of both Hybrid Vehicles (HV) and Electric Vehicle (EV) markets as well as that of their manufacturing eco-systems.

The growing popularity of electric vehicles is prompting the leading automotive manufacturers to launch electric vehicles in India. For instance, in October 2019, Maruti Suzuki, a leader in the conventional vehicle market, announced plans to launch electric vehicles for personal use for the Indian market in the following years. Similarly, in August 2021, Tata Motors launched the Tata Tigor EV in the Indian market. As the market continues to evolve and the consumer preference continues to shift from conventional vehicles to electric vehicles, more and more conventional vehicle manufacturers are expected to launch electric vehicles in the Indian market, thereby driving the growth of the market over the forecast period.

The outbreak of the COVID-19 pandemic triggered a global economic slowdown. The electric vehicle market is particularly vulnerable to any global economic slowdown owing to its reliance on global sourcing for the core battery technology. Moreover, the initial purchase price of electric vehicles tends to be higher than the gasoline-fired and hybrid vehicles, which particularly restrains the adoption of electric vehicles among price-sensitive customers. However, the Indian electric vehicle (EV) market was unaffected by the outbreak of the pandemic. In India, the registration of new electric passenger cars increased by 109% y/y in 2020, with 5,905 new vehicle registrations noted during the year.

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India Electric Vehicle Market Report Highlights

• In terms of product, the BEV segment dominated the market in 2024 and is anticipated to value at USD 116.80 billion by 2030. This can be attributed to the increasing preference of consumers towards EVs over ICE vehicles and restrictions on vehicular CO2 emissions

• The passenger cars segment is expected to expand at the highest CAGR of around 41.6% over the forecast period. The growth can be attributed to increasing investments by the government in EV infrastructure, along with tax benefits offered to consumers

• The rising popularity of electric vehicles is prompting the leading automotive manufacturers to launch electric vehicles in India, which is anticipated to create growth opportunities for the market in the country

India Electric Vehicle Market Segmentation

Grand View Research has segmented the India electric vehicle market report based on product and vehicle:

India Electric Vehicle Product Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030) 

• Battery Electric Vehicle (BEV)

• Plug-In Hybrid Electric Vehicle (PHEV)

India Electric Vehicle Vehicle Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• Passenger Cars

• Commercial Vehicles

List of Key Players of India Electric Vehicle Market

• Audi AG

• BMW AG

• Hyundai Motor India

• Jaguar Land Rover Limited

• Mahindra&Mahindra Ltd.

• Mercedes-Benz Group AG

• JSW MG Motor India Pvt. Ltd.

• Olectra Greentech Limited

• Tata Motors Limited

• Toyota Motor Corporation

Pulse Ingredients Market Size To Reach $27.30 Billion By 2030

 

Pulse Ingredients Market Growth & Trends

The global pulse ingredients market size is expected to reach USD 27.30 billion by 2030, registering a CAGR of 3.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The evolving landscape of health and dietary trends plays a significant role in driving the demand for pulse ingredients. Notably, trends, such as sports nutrition, satiety, and weight loss, have led to an increased interest in protein-rich foods. Pulse ingredients, being versatile and nutrient-dense, are well-suited for addressing these dietary needs. Pulse ingredients offer sustainable solutions for food production for several reasons. Firstly, pulses require less non-renewable energy compared to other crops, contributing to reduced environmental impact.

In addition, pulses have the unique ability to fix nitrogen in the soil, enriching it naturally and reducing the need for synthetic fertilizers. As consumers prioritize sustainability in their purchasing decisions, the demand for pulse ingredients continues to rise as an eco-friendly and responsible choice. In a competitive market, product differentiation is crucial for brands seeking to capture consumer attention and loyalty. Pulse ingredients provide a platform for innovation, allowing manufacturers to create unique and distinctive food products. Whether it's developing plant-based protein snacks, fortified beverages, or savory meat alternatives, pulse ingredients offer versatility and functionality that enable brands to stand out in the market.

By leveraging the nutritional benefits and consumer appeal of pulse ingredients, manufacturers can differentiate their products and attract a broader audience. In addition, pulse ingredients offer a range of functional properties, such as emulsification, texture enhancement, gelation, water retention, adhesion, and film formation. They are versatile ingredients that can be utilized in formulations to augment protein levels or replace other proteins like egg whites, dairy proteins, or soy proteins. Moreover, they exhibit excellent compatibility with other gluten-free flours, enhancing moisture retention and texture in food products.

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Pulse Ingredients Market Report Highlights

• The peas source segment is projected to register a CAGR of 4.4% from 2024 to 2030. Pea-based ingredients offer functional properties that improve baked goods' texture, moisture retention properties, and overall quality

• The ability of pea flour and pea fiber to enhance dough yield, viscosity, texture, and mouthfeel makes them valuable ingredients for bakery applications

• The pulse flour segment held a share of 35.4% in 2023. Pulse flours are marketed as healthy alternatives due to their higher protein content, rich levels of soluble & insoluble fiber, and resistant starch

• As consumer awareness of health and nutrition increases, there is a growing demand for products that offer these nutritional benefits, which, in turn, will support market growth

Pulse Ingredients Market Segmentation

Grand View Research has segmented the global pulse ingredients market on the basis of source, type, application, and region:

Pulse Ingredients Source Outlook (Revenue, USD Million, 2018 - 2030)

• Lentils

• Peas

• Chickpeas

• Others

Pulse Ingredients Type Outlook (Revenue, USD Million, 2018 - 2030)

• Pulse Flour

• Pulse Starch

• Pulse Protein

• Pulse Fiber & Grits

Pulse Ingredients Application Outlook (Revenue, USD Million, 2018 - 2030)

• Food & Beverage

  • Bakery & Confectionery

  • Snacks

  • Dairy

  • Beverages

• Feed

• Others

Pulse Ingredients Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • France

  • Germany

  • Spain

  • Italy

• Asia Pacific

  • China

  • Japan

  • Australia & New Zealand

  • South Korea

  • India

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players of Pulse Ingredients Market

• Ingredion Inc.

• Cargill Inc.

• Roquette Frères

• Emsland Group

• ADM

• The Scoular Company

• Coscura

• Puris

• Axiom Foods, Inc.

• AGT Food & Ingredients

• AM Nutrition

Marine Construction Market To Reach $83.70 Billion By 2030

 

Marine Construction Market Growth & Trends

The global marine construction market is anticipated to reach USD 83.70 billion by 2030 and is anticipated to expand at a CAGR of 5.2% during the forecast period, according to a new report by Grand View Research, Inc. The increasing demand for maritime infrastructure development is a key driver of the marine construction market. With the expansion of global trade and the rising need for efficient transportation networks, governments and private entities are investing heavily in the construction of ports, harbours, and terminals. The growing importance of coastal and inland waterways as vital trade routes has further propelled the need for dredging operations, dock expansions, and shipyard developments. Additionally, the modernization of existing marine infrastructure to accommodate larger vessels and enhance operational efficiency is contributing to market growth.

The rising focus on offshore energy projects is another significant factor driving the marine construction industry. The expansion of offshore oil and gas exploration, along with the increasing deployment of offshore wind farms, has led to a surge in demand for specialized marine construction services. Governments worldwide are investing in renewable energy infrastructure, particularly in offshore wind farms, to meet sustainability targets and reduce dependence on fossil fuels. This trend has resulted in the construction of subsea pipelines, offshore platforms, and transmission cables, further fueling market expansion.

Technological advancements in marine construction techniques and materials have also played a crucial role in market growth. The adoption of advanced dredging equipment, underwater construction robotics, and sustainable building materials has enhanced project efficiency, safety, and environmental compliance. The development of eco-friendly construction techniques, such as the use of geotextiles and artificial reefs, has facilitated coastal protection and erosion control initiatives. These innovations not only improve the durability and resilience of marine structures but also support environmental conservation efforts.

Furthermore, increasing concerns about climate change and coastal resilience are driving investments in marine construction projects aimed at mitigating the impact of rising sea levels and extreme weather events. Governments and municipalities are prioritizing the construction of seawalls, breakwaters, and flood barriers to protect coastal communities and critical infrastructure. The growing emphasis on sustainable coastal development, coupled with the need for resilient maritime structures, is expected to further propel the marine construction market in the coming years.

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Marine Construction Market Report

Marine Construction Market Report Highlights

• The concrete segment dominated the market and accounted for the largest revenue share of 35.31% in 2024. The growing demand for coastal development and the expansion of ports and harbors, particularly in emerging economies, has significantly increased the need for concrete in marine construction.
• Asia Pacific dominated the market and accounted for the largest revenue share of 42.6% in 2024, driven by rise in maritime trade and shipping activities in the Asia Pacific region. The region is home to some of the busiest shipping lanes in the world, and the continuous growth in trade volumes is prompting the development of larger, more sophisticated ports and terminals.

Marine Construction Market Segmentation

Grand View Research has segmented the global marine construction market on the basis of material and region:

Marine Construction Material Outlook (Revenue, USD Million, 2018–2030)

• Steel
• Concrete
• Wood
• Composite
• Other Materials

Marine Construction Region Outlook (Revenue, USD Million; 2018–2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Central & South America
• Middle East & Africa

List of Key Players in the Marine Construction Market

• China State Construction Engineering Construction
• Hyundai Engineering and Construction
• Strabag
• DEME
• Ningbo Zhoushan Port
• Boskalis
• Bechtel
• McCarthy Building
• China Merchants

Colored Polyurethane Foams Market To Reach $93.69 Billion By 2030

 

Colored Polyurethane Foams Market Growth & Trends

The global colored polyurethane foams market size is expected to reach USD 93.69 billion by 2030, registering a CAGR of 6.7% during the forecast period, according to a new report by Grand View Research, Inc. The market is expected to be driven by increasing developments in electronic appliances, automotive, footwear and packaging industries. Growing demand for high performance materials from automotive industry is expected to drive global colored PU foams market over the forecast period. Increasing construction spending in Asia Pacific is also expected to have a positive influence on the market growth. Volatile MDI/TDI prices are expected to challenge market profitability.

Flexible colored PU foams were the leading product segment and accounted for over 49.5% of total market volume in 2023. They are widely used for cushioning applications mainly in furniture & interiors and packaging industries. Rigid PU foams are expected to witness significant growth during the forecast period. Growing demand for insulation products across automotive and construction industries is expected to drive this segment over the forecast period.

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Colored Polyurethane Foams Market Report

Colored Polyurethane Foams Market Report Highlights

• The furniture indstry was the leading application segment with demand share exceeding 33.2% in 2023. This growth can be credited to the rising demand for customization.
• The pigment paste colorants have emerged as the fastest-growing segment, with 6.8% during the forecast period. The rising consumer inclination towards customization in furniture, automotive, and textiles has primarily driven the market.
• Asia Pacific was the leading regional market with demand share estimated at 48.9% in 2023. Growth can be attributed to the region’s emerging economies, including China and India, which expanded construction activities.
• Global industry is highly fragmented in nature. Small and medium sized industry participants leading the market. The market is expected to attract huge number of companies owing to introduction of bio-based raw materials.

Colored Polyurethane Foams Market Segmentation

Grand View Research has segmented the global colored polyurethane foams market based on type, colorant, application, and region:

Colored Polyurethane Foams Type Outlook (Revenue, USD Million; Volume, Kilotons, 2018–2030)

• Flexible Colored PU Foam
• Rigid Colored PU Foam
• Colored Spray PU Foam

Colored Polyurethane Foams Colorant Outlook (Revenue, USD Million; Volume, Kilotons, 2018–2030)

• Pigment Paste
• Liquid Color
• Others

Colored Polyurethane Foams Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018–2030)

• Furniture and Interiors
• Construction
• Electronic Appliances
• Automotive
• Footwear
• Packaging
• Others

Colored Polyurethane Foams Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018–2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Russia
• Sweden
• Norway
• Denmark
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Vietnam
• Latin America
• Brazil
• Argentina
• Middle East and Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Kuwait

List of Key Players in the Colored Polyurethane Foams Market

• BASF SE
• The Dow Chemical Company
• Huntsman Corporation
• Recticel S.A.
• Saint-Gobain
• Covestro AG
• Wanhua Chemical Group Co., Ltd.
• Rogers Corporation
• Bayer MaterialScience AG
• Carpenter Company
• Everlight Chemical Industrial Corp