The India Flexfuel Cars Market Is Estimated To Witness High Growth Owing To Increasing Stringent Emission Norms

 

India Flexfuel Cars Market

The global India Flex fuel cars Market is estimated to be valued at US$ 611.8 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Flex fuel cars allow the vehicles to operate on a combination of gasoline and ethanol or methanol fuels. These vehicles give consumers greater choice at the fuel pump. Flex fuel cars help reduce dependence on crude oil imports and provide environmental benefits.

 

Market key trends:

One of the key trends in the India flex fuel cars market is the increasing preference towards electric vehicles. With rapid technological advancements and government support schemes, sales of electric vehicles are increasing significantly in India. Various automakers are focused on developing affordable electric vehicles for the mass market. This is expected to positively impact the adoption of flex fuel technology in electric vehicles, combining the benefits of electrification and use of cleaner alternative fuels. This would provide consumers greater driving range and ease concerns over lack of charging infrastructure.

Segment Analysis

The India flexfuel cars market is dominated by the compact flexfuel cars segment. Compact cars account for over 50% of the total flexfuel cars sold in India due to their affordability and fuel efficiency. Indian consumers prefer compact flexfuel cars as their primary means of commutation within cities as well as for leisure driving on weekends.

 

Key Takeaways

The  India Flexfuel Cars Market Share is expected to witness high growth, exhibiting a CAGR of 15% over the forecast period, due to increasing public awareness about alternative clean fuels and government incentives for flexfuel vehicle adoption.

 

West and South India dominate the India flexfuel cars market due to high awareness levels and government incentives for flexfuel vehicles in states like Maharashtra, Karnataka, and Tamil Nadu. These states account for over 65% of total flexfuel cars sold in the country.

 

Key players operating in the India flexfuel cars market are Maruti Suzuki, Hyundai, Tata Motors, Nissan, Renault, Mahindra & Mahindra, Toyota, Honda, Ford and Volkswagen. Maruti Suzuki leads the market with over 35% market share owing to its strong brand positioning and widespread service network for compact flexfuel cars like Swift, Baleno, Dzire etc. in India.

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https://www.dailyprbulletin.com/india-flex-fuel-cars-market-size-share-growth-outlook-2023/

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