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Last Updated: Apr 25, 2025 | Study Period:
India is an important market in Asia with ~16 million vehicles sold annually, 12.5 being two-wheelers (largest 2 wheeler market in the world). The average price of the vehicle sold is also lower compared to China, USA
Among the passenger cars, mid and entry-level hatchbacks dominate the market while among 2 wheelers 75% of the market is below 150 cc.
3-wheelers also hold an important role in the Indian market mainly for commercial purposes. It is a common mode of transport for last-mile connectivity as well as holds an important role in door to door transportation in both rural and urban settings
In the electric car segment, Tata Motors sold a total of 650 units of the Nexon EV in July 2021, which is the highest monthly sales figure achieved by any vehicle holding a market share of 71%. Tata Motors sold over 4,500 units of the Nexon EV since its launch in January 2020.
MG Motor India managed to sell a total of 250 units of the ZS EV in July 2021 as compared to 102 units sold in the previous month with an increase of 145.1% on YoY.
Tataâs Tigor and Hyundaiâs Kona sales were handful and very minimal impact on overall sales of EVs in India
In the electric two-wheeler segment, a total of 29,288 units were sold in the first six months of 2021 with 5.97% increase in YoY where 25,598 units sold in 2020.
Hero Electric remains Indiaâs no.1 manufacturer in this segment and saw its retails increase significantly Year-over-Year from 399 units retalied in July 2020 to 4,218 units in July 2021.
Okinawa reported an increase of 81.76% in July 2021 with 3,826 units.Piaggio has reported an increased retail sales in July 2021 with 3,826 units.Ather Energy retailers increased from 144 units in July 2020 to 1,799 units in July 2021.
Similarly, Pure Energy also reported a significant YoY increase in retail sales from 24 units in July 2020 to 1,317 units sold in July 2021.
Of the 238,000 registered electric vehicles sold in India in 2020
The number of unregistered electric three wheelers is estimated to be at 59,000 units
Hero electric held the pole position for electric two wheelers across the country while Tata held the pole position for electric cars in the country.
There currently exists a FAME-2 subsidy for all-electric vehicles except buses where Rs 15,000 per kWh of the battery is subsidized up to 40% of the overall vehicle price. States have also implemented subsidies for electric vehicles as well as budgets for infrastructure development
Amazon.com Inc. is in discussions with Mahindra Electric to obtain electric three-wheelers for certain of its global operations through its logistics partners. The e-commerce behemoth's logistics partners in Japan and Vietnam have received a few test mules of Mahindra Electric's Treo Zor electric three-wheeler.
Mahindra has also been awarded the largest order for electric vehicles from Amazon India. Mahindra Electric, Kinetic Green, Altigreen, Gayam Motor Works, and E-trio had all placed orders with Amazon India. The e-commerce site was also in talks to invest in a number of other firms. Treo Zor has already been provided by Mahindra Electric to domestic e-commerce logistics companies including Amazon.
Tata Motors has agreed to provide 10,000 XPRES T EVs to BluSmart Electric Mobility, the largest ever EV fleet order in India, according to the firm.
These vehicles will be added to the 3,500 XPRES T EV order signed by both companies and will be used for commuters across the country, helping to reduce carbon emissions. According to Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility, the XPRES-T EV fleet offers an optimal battery size as well as a captive fast charging solution and has already set benchmarks in its category.
Tata Motors is pleased to continue its partnership with BluSmart Electric Mobility as we roll out 10,000 XPRES-T EVs across India.
Tata Motors is continually working to educate and improve electric mobility adoption in India, and the XPRES brand was developed particularly for fleet clients, with the XPRES-T EV being the first vehicle under this brand.
The XPRES-T electric sedan is available in two ranges: 213 km and 165 km (ARAI certified range under test conditions).
It has a 21.5 kWh and 16.5 kWh high-energy density battery that can be charged from 0 to 80 percent in 90 minutes and 110 minutes, respectively, utilising fast charging. It can also be charged conventionally from any 15 A plug point, which is readily available and handy.
Maharashtra unveiled its new policy which came into effect on 13th July 2021 and will be valid till 31st March 2025. Maharashtra aims to accelerate the adoption of BEVs in the state so that they contribute to 10% of new vehicle registrations by 2025.
The demand-side incentive structure and target under Maharashtraâs new EV policy was 10% of two-wheelers, 20% of three-wheelers and 5% of four-wheelers by 2025.
Buyers purchasing EVs before 31 December 2021 will be eligible for âEarly Bird discountâ of INR 5000/kWh of vehicle battery capacity. Along with these, this policy lays out incentives for setting up charging stations, supply-side incentives to attract manufacturing in the state,and the launch of the Zero Emission Vehicle credit programme.
Rajasthan Government issued a notification on 16 July 2021, regarding the stateâs EV Policy to encourage EV adoption. As per the notification, a provision is made to reimburse the SGST (State Goods and Service Tax) amount and give a one-time grant to EV buyers. Recharge of the SGST amount is payable on all types of EVs.
Charging stations have been allocated for states across the country with Rs. 10,000 Crore for a period of 3 years commencing from 1st April 2019 under the FAME scheme
The FAME scheme aims to generate demand by way of supporting 7000 e-Buses, 5 lakh e-3 Wheelers, 55000 e-4 Wheeler Passenger Cars (including Strong Hybrid) and 10 lakh e-2 Wheelers
Delhi, Maharashtra, Andhra Pradesh, Bihar, Chandigarh, Haryana, Karnataka, Kerala, Madhya Pradesh, Odisha, Meghalaya Punjab, Tamil Nadu, Telangana, Uttar Pradesh, Gujarat and Uttarakhand are states who have rolled out subsidies for electric vehicles as well as announced plans to electrify vehicles
They are along the lines of decreasing overall vehicle price, improving charging infrastructure as well as increasing government fleet and public fleet to electric vehicles
Gujarat announced a policy to further subsidize EVs over the FAME scheme. It includes an incentive of Rs 10,000 per kWh for electric vehicles. Two wheelers get a maximum of Rs 1.5 lakh, three wheelers Rs 5 lakh and four wheelers Rs 15 lakh. The goal is to target 2,00,000 EVs of which 1,10,000 will bee-two-wheelers, 70,000 e-three-wheelers and 20,000 e-four-wheelers.
Indiaâs electric vehicle market is estimated at $xx Billion in 2022. The Indian EV battery market alone is estimated at $XX Billion.In 2020, Hero electric, Okinawa, Ampere and Ather held the market for EV two wheeler sales.
For Passenger cars, Tata, Mahindra, and MG were the largest players.The three-wheeler market involved a large segment of unorganized players as well as the introduction of organized players such as Mahindra, Piaggio etc.
India is one of the markets for electric two-wheelers (E2Ws) that is expanding quickly worldwide. All registered cars in India are two-wheelers, making this segment the largest in the country.
E2Ws are a practical and effective means of transportation for short distances, particularly in urban areas. In India, all gasoline transactions are for two-wheelers. Two-wheelers are used for business purposes such as logistics fleets for food and grocery deliveries, courier and package delivery services, and services linked to passenger transportation.
The first and final mile connections via shared journeys and bike taxi services are also being tested for two-wheelers that can successfully navigate traffic. With barely a very low percentage of all vehicles being electric, India is a latecomer to the market for electric vehicles. However, the Indian government has recently put into place a number of laws and efforts to encourage the adoption of EVs.
For instance, the government has introduced the FAME plan, or Faster Adoption and Manufacturing of Hybrid and Electric Vehicles, which offers financial incentives for the purchase of electric vehicles.
Beyond domestic producers, international businesses are also interested in the Indian EV market. India's potential as a market for electric vehicles is drawing attention from international firms because of its sizable population, rising incomes, and growing environmental concerns. In addition to drawing in international firms, India's potential as a market for electric vehicles is also sparking interest in the investing community. The development of the nation's electric vehicle infrastructure is being fueled by the Indian government's push toward electric mobility.
Venture investors and international firms are investing in the Indian EV market. The expansion of the Indian EV industry is being accelerated by this investment in EV companies, which also highlights India's potential as a market for electric vehicles.
The expansion of India's EV infrastructure benefits both the domestic market and the country's investment appeal to foreign investors. In India, the use of electric two-wheelers and three-wheelers is expanding quickly, and electric three-wheelers are also becoming more common, particularly in the ride-hailing market.
India's potential as a market for electric mobility is being highlighted by the adoption of electric two-wheelers and three-wheelers throughout the nation. The Indian EV market is beginning to have a big influence.
| S No | Company Name | Development |
| 1 | Ather | Ather Energy provides solutions for sustainable mobility and energy infrastructure. It produces two-wheeled electric vehicles, the 450X and 450 Plus, which are marketed through its online and offline retail outlets. In its Series E funding round, Ather received $128 million from sovereign fund NIIF Limited and previous investor Hero MotoCorp. |
AtherEnergy is making waves today with the introduction of three new electric scooters. The much-anticipated event is scheduled for and will be live-streamed on YouTube.
It also completed its Series E round with this round. The business claims to have installed over 1,000 charging stations in 80 Indian towns. It hopes to have around 2,500 charging stations in place by the end of the year.
The company has revealed the launch of three new scooters in a few teasers leading up to the event. While they know Ather 450S will be one of them, the other two remain unknown.
The Ather 450S will be a more affordable electric scooter that will drive Ather Energy's volume in the highly competitive electric scooter market. It will be a direct competitor to the Ola S1 Air, which will also be released soon.
| S No | Company Name | Development |
|---|---|---|
| 1 | Renault | Renault, based in France, announced new investments of Rs 5,300 crore through its joint venture partner Nissan Motor and plans to launch the first product in the coming years. Renault and Nissan, both of Japan, announced fresh investments to bring in six new vehicles, including two small electric cars, as well as to upgrade the alliance facility in Oragadam, some 45 kilometers from here. |
Three of the six vehicles proposed are forNissan and Renault.They are entering the EV (electric vehicle) market. Also expanding into larger vehicles (those larger than four meters in length).
In India, they already have passenger vehicles such as the KWID, KRIGER, and TRIBER. Renault India now offers approximately 450 sales and 530 service touchpoints around the country, including 250 workshop-on-wheels.
BYD and Megha Engineering and Infrastructures, a privately held company with its headquarters in Hyderabad, have submitted a request to Indian regulators for the creation of an EV joint venture.
The long-term goal is to produce a complete lineup of BYD-brand electric vehicles in India, ranging from hatchbacks to luxury sedans.To compete with Tesla, which still dominates the market for EVs alone, BYD is rapidly expanding globally, including a drive into India. With the exception of the United States, all of the main global auto markets would have a BYD presence if the India investment were to be approved.
The aspirations of Tesla go beyond only making EVs in India. The next-generation vehicle platform will reduce production costs and can support a variety of models, including an autonomous "robotaxi."
The Hyundai Ioniq 5 electric SUV, produced by Hyundai Motor India, was unveiled at Auto Expo as the nation's second electric vehicle (EV). For India, the Ioniq 5 is only offered in one configuration that includes a single electric motor and battery pack.
The Ioniq 5 is the first vehicle to be built on the electric-global modular platform (E-GMP) developed by Hyundai Motor Group. World Car of the Year, World Electric Vehicle of the Year, and World Car Design of the Year were three awards given to the Ioniq 5 at the World Car Awards.
COVID-19 severely affected the automotive industry, and the disruption of production and shutdown of plants due to multiple phases of lockdown imposed by the government had its impact on demand for electric cars, electric two-wheelers and electric three-wheelers.
The supply of lithium-ion battery packs got impacted due to COVID-19 pandemic. This was followed by a clampdown by the government on shipments coming from China as India depends on China, which has a monopoly in lithium-ion cells, for making battery packs. The lack of interest shown by banks to finance electric vehicles also impacted the Indian EV market.
However,the economic slowdown is impacting the environment, also creating new challenges for Indiaâs clean energy transition including supply chain shortages,liquidity, financing constraints, job losses and reduced workforce. The concerns regarding the negative effect of climate change, along with the growing carbon emission in major cities have created a significant demand for electric vehicles in India.
E-commerce companies such as Amazon launched e-Mobility for last-mile deliveries to reduce carbon footprint. India is already experimenting with e-Mobility for public transport, and the country has deployed electric intercity buses across some major cities.
The EV market in India has gained significant momentum after the implementation of the FAME India scheme with its aim of shifting toward e-mobility in the wake of growing international policy commitments and environmental challenges. This will contribute to higher revenue collection through GST, export duties and will propel employment and economic progress of the country.
With this opportunity, the government of India, OEMs and car makers should create an ecosystem to make India a manufacturing hub of EVs. To achieve this, India had pioneers in the lead acid batteries space like Exide Industries, Amara Raja Batteries, etc.,who can contribute to the plans of making and exporting EV components like Li-ion batteries in India will increase the growth of EV market.
Jindal Worldwide, through its subsidiary Jindal Mobilitric, has purchased Mumbai-based EV startup Earth Energy EV, marking its entry into the electric vehicle (EV) market.
Without providing specific financial information, Jindal Worldwide announced in a release that Jindal Mobilitric will acquire the commuter scooter brands Glyde SX, Glyde SX+, and commuter and cruiser motorbike brands Evolve R and Evolve S from Earth Energy.
Additionally, Jindal Mobilitric will build a new manufacturing facility in Ahmedabad to complement Earth Energy's current facility in Maharashtra.
In ten states throughout the nation, Earth Energy has already appointed distributors, and Jindal Mobilitric would keep them. Additionally, by expanding the distributor network in each area, it will add new touchpoints.
The entry of Jindal Worldwide into the EV market comes at a time when the sector is going through a significant upheaval. Consumer trust has been impacted and there are several safety concerns as a result of EV fire incidents. However, the nation continues to see a significant increase in EV sales.
Overall, it is anticipated that the Asia Pacific area would become the world's largest market for emobility. The high rate of EV adoption in the area and a rising need for taxi fleets will be the main drivers of demand. China and India are anticipated to take the lead in the region.
Maruti Suzukiâs parent company, Suzuki Motor Corp will enter the EV market by 2025, starting with the India market. They planned to launch an all-electric model, which will be an iteration of the Celerio which will cost around INR 10-11 lakh. The company also planned to invest INR 18,000 crore for a new production facility in Haryana.
Convergence Energy Services Ltd (CESL) has signed an agreement with Hindustan Petroleum Corporation Ltd (HPCL) for setting up charging infrastructure in several cities across the country like Mumbai, Delhi, NCR, Bengaluru, Hyderabad, Chennai, Kolkata and Pune -August 2021
Ola Electric raised $100 million in long term debt from Bank of Baroda for setting up a 500-acre factory in Tamilnaduâs Krishnagiri, aimed to make 10 million vehicles a year at full capacity -July 2021
MG Motor India and Fortum Charge & Drive have set up a 50kW Superfast public EV charging station in Pune. This smart chargers can be accessed by anyone who has an EV car compatible with the CCS2 (Combined Charging System), by registering on Fortumâs mobile app -July 2021
Mahindra Electric partnered with Magenta EV deployed 100 units of Mahindraâs E3W, Treo Zor in Bengaluru for last-mile delivery of essential and non-essential items -June 2021
Anand Group had a joint venture with Mando Corporation to manufacture and supply motor and controller for the two and three-wheeler electric vehicle market-June 2021
Magenta EV has set up Indiaâs largest public EV charging station in Navi Mumbai. This public charging station will be functional 24*7 with 21 AC/DC chargers for electric vehicles. These chargers are powered with combined 40 KW rooftop solar power and can be operated through the ChargeGrid App with online remote monitoring including an automated payment gateway -June 2021
With its small size and fashionable exterior, the Mahindra e2o Plus is developed to meet the needs of urban commuters. With its sleek lines and prominent front grille, the automobile boasts a contemporary and futuristic appearance.
Its small size makes it simple to manoeuvre in clogged city traffic and squeeze into small parking spots, which is useful in busy Indian cities in particular. The e2o Plus's engine is an electric motor with a maximum output of 19 kW (25.5 HP) and 70 Nm of torque.
A high-capacity lithium-ion battery pack and the motor are combined to provide the vehicle a range of roughly 110 km after a full charge. The e2o Plus is a sensible option for city dwellers because this range is perfect for quick city journeys and daily errands.
The Mahindra e2o Plus charges quickly and easily. The automobile comes with a portable charger for use at home, and it can be charged using a regular 15A power outlet.
In little under an hour, the battery may be charged up to 95% using the fast-charging option. The accessibility and practicality of owning an ev have also been improved by Mahindra's installation of a network of public charging stations in a few locations.
Despite being small, the e2o Plus offers a cosy and roomy cabin. It easily accommodates four persons, and the comfortable seats provide for a relaxing ride. The dashboard has a digital instrument cluster that shows important data like the battery charge level, mileage, and more.
Modern features like power windows, a touchscreen infotainment system, and smartphone connectivity are included in the vehicle, which improves the whole driving experience.
The Mahindra e2o Plus puts its passengers' health first when it comes to safety. It has a high-strength steel body structure, dual front airbags, ABS (Anti-lock Braking System), regenerative braking, and other safety measures that keep passengers safe. Rear parking sensors and a reverse camera are additional features included with the e2o Plus to make parking in confined areas easier.
Environmental friendliness is one of the Mahindra e2o Plus's main benefits. Because it is an all-ev, it has no tailpipe emissions, which helps to improve air quality and reduce carbon emissions.
The e2o Plus' sustainability factor is further increased by the usage of renewable energy sources for charging. When compared to typical gasoline or diesel automobiles, the e2o Plus delivers significant financial savings.
The running cost per kilometer for the e2o Plus is significantly cheaper due to the fact that electricity prices are often lower than the cost of fossil fuels. Additionally, because ev have fewer moving components than other vehicles, maintenance expenses are generally lower.
An innovative and environmentally friendly ev is made by TVS Motor Company, one of India's top two-wheeler producers, called the TVS iQube Electric. The iQube Electric, a fashionable and cutting-edge electric vehicle (EV), was introduced in early 2020 and has since been well-known in the Indian market.
The iQube Electric's electric drivetrain, which comprises of a 4.4 kW electric motor driven by a 2.25 kWh lithium-ion battery pack, is the engine of the vehicle. With this setup, the scooter can reach a high speed of 78 km/h and a peak power output of 6 horsepower. The battery can be fully charged from zero to one hundred percent in around five hours using a typical 5 Amp plug.
Tata Motors, OLA Electric lead electric vehicle race in India. Tata Motors alone comprised 81.4 percent of the Indian electric car market in FY23 and OLA Electric constituted the highest market share in the two-wheeler segment.
Sales of electric vehicles (EVs) increased 2.6 times in 2022â2023 to surpass one million for the first time, driven by strong growth in the two- and three-wheeler sectors.According to the most recent statistics, 11.8 lakh EVs were sold during the previous fiscal year.
Data, however, reveals that sales of electric-powered passenger and commercial cars are still sluggish despite tax incentives.While the two- and three-wheeler markets are seeing EV growth, just a dismal 4.2% of all electric vehicles sold were passenger cars and commercial vehicles.
In addition, the number of producers in the electric automobile industry is very low when compared to that of electric bikes or electric rickshaws. In FY23, Tata Motors alone accounted for 81.4% of the Indian electric car market, and four other businesses, including Tata Motors, took 95% of the market.In contrast, OLA Electric held the greatest market share in the two-wheeler sectors (21%), while the top four manufacturers only made up 57.8% of the market.
The electric vehicles (EVs) market in India has been gaining significant momentum in recent years, driven by government initiatives, growing environmental concerns, and technological advancements. As a result, various partnerships have emerged among automakers, technology companies, and government entities to accelerate the adoption of EVs in the country.
One notable partnership in the Indian EV market is between Tata Motors and the state-run Energy Efficiency Services Limited (EESL). Tata Motors won a contract to supply 10,000 electric vehicles to EESL, which aims to replace the government's existing fleet with electric alternatives.
This partnership has helped Tata Motors establish itself as a major player in the EV space and has contributed to the expansion of EV adoption in India.Mahindra & Mahindra (M&M), a leading Indian automotive manufacturer, has also entered into several partnerships to strengthen its position in the EV market.
M&M partnered with self-drive car rental startup Zoomcar to deploy 100 electric vehicles in the city of Mumbai. This collaboration aimed to promote the use of EVs for shared mobility and raise awareness among consumers about the benefits of electric transportation.
Another significant partnership in the Indian EV market involves Ola, one of the country's largest ride-hailing platforms. Ola Electric Mobility, a subsidiary of Ola, raised substantial funding from investors like SoftBank, Tata Motors, and Hyundai Motor Company to develop electric mobility solutions.
Ola Electric has since partnered with various companies, including Hyundai, Kia Motors, and ABB, to build a robust EV ecosystem in India, focusing on electric two-wheelers, three-wheelers, and charging infrastructure.
Additionally, international automakers have shown interest in the Indian EV market and have formed partnerships to capitalize on the growing demand. For instance, Hyundai and Kia Motors have made significant investments in Indian ride-hailing giant Ola and have collaborated with the company to develop customized EVs for the Indian market.
These partnerships aim to leverage Ola's expertise in mobility solutions and the automakers' technological capabilities to offer electric vehicles tailored to Indian consumers' needs.
Furthermore, the government of India has been actively promoting EV adoption through its flagship initiative, the Faster Adoption and Manufacturing of Electric Vehicles (FAME) program.
Under this program, the government has partnered with various companies, including automakers and energy firms, to implement electric mobility projects across the country. These partnerships focus on developing charging infrastructure, battery manufacturing facilities, and promoting EV awareness and education.
EV sales registered in July 2021 reported a MoM increase of 134.8% at 26,127 units driven by the increase in Electric 2-Wheeler registrations followed by FAME-II notification which increased the incentives on EVs, further bringing down their prices.
Among all the states and Union territories, Uttar Pradesh continues to have maximum monthly registered EV sales with 17% of overall sales in India, July 2021. Karnataka has the second highest sales at 15% share followed by Tamilnadu share of 12% and Maharashtra share of 10%.
The overall high-speed electric two-wheeler (HS-E2W) sales stood at 13,345 units in July 2021, reported an increase of 229% MoM over the previous month, and a YoY leap in registrations of 835.83%.
The sales of electric three-wheeler (both passenger and cargo-type) in July 2021 stood at 10,873 units, increasing MoM ny 89%.This increase was driven by passenger type EV, which is increased by 93.89% over last month, while the share of overall sales of cargo type EV fell to 10%.
The cumulative sales of electric four-wheelers in July 2021 stood at 967 units, with a MoM increase of 66% and YoY increase of 173.16%.Tata Motors continued its dominance in this segment but its share dropped from 76% from last month to 66% in July 2021. MG Motors, on the other hand increased its share from 20% to 29% in the same period.
Among the electric two wheelers in India, there are 32 brands with more than 100 models in the market. By 2026, there will be a substantial decrease in the number of players as those who can not compete will lose their position. In 2020, only 11 players managed sales above 3 digits in the market.
Among the passenger cars, Tata, MG, Hyundai and Mahindra are the current players in the market. Since the market is very price sensitive, subsidies will drive it and urban areas will be the target markets. Maruti as well as Renault have spoken about possible electric vehicles to hit the market over the next 2 years.
The market will be dominated by fleet usage mainly taxis and fleets with fixed path operations as running costs will be much lower than an ICE fleet and the capital invested can be returned over the course of 3-4 years.
| Sl No | Title |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Research Methodology |
| 4 | Executive Summary |
| 5 | Average B-2-C selling price in past 5 years |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Evolution And Concerns For An Ev Buyer - INDIA |
| 9 | Cost breakdown of Product by sub-components and average profit margin |
| 10 | SWOT Analysis of the Current Indian EV Market -2022 |
| 11 | Technology trends in the Industry |
| 12 | Consumer trends in the industry |
| 13 | Supply Chain for EV manufacturing in India |
| 14 | Value Chain for various EV Types |
| 15 | FAME Scheme and its impact |
| 16 | Subsidies and incentives by various state governments for EVs |
| 17 | Power Electronics Manufacturing in India |
| 18 | New vehicles developed in past 12 months |
| 19 | Li Ion Battery Manufacturing in India |
| 20 | Market Segmentation, Dynamics and Forecast by City Type, 2024-2030 |
| 21 | Market Segmentation, Dynamics and Forecast by Vehicle Type, 2024-2030 |
| 22 | Market Segmentation, Dynamics and Forecast by Component, 2024-2030 |
| 23 | Market Segmentation, Dynamics and Forecast by Price, 2024-2030 |
| 24 | Gross margin and average profitability of manufacturers |
| 25 | M&A in past 24 months |
| 26 | Investments by manufacturers and suppliers for EVs in India |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers/OEMs |
| 31 | Conclusion |
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