India’s Mobility Industry Set To Double, Cross $600 Billion By 2030, Report Says

The latest Think Mobility Report from Google and Boston Consulting Group (BCG) projects that India’s mobility industry will double and surpass $600 billion by 2030. The report highlights that both traditional and emerging revenue streams will fuel this growth, defying global industry trends.

A significant contributor to this growth will be emerging revenue pools, including electric, shared, and connected mobility, which are expected to add a staggering $100 billion to the sector. This shift signals a robust move toward cleaner and more sustainable mobility solutions.

Mobility Industry Market Gain Momentum

The report reveals that electric vehicles (EVs) are gaining traction in India, with one in three consumers considering EVs for their next vehicle purchase.

However, there are notable differences in preferences between electric four-wheelers (E4W) and electric two-wheelers (E2W). E4W buyers prioritize sophistication, advanced technology, and exclusivity, while E2W consumers focus on practicality, comfort, and affordability.

BCG’s Managing Director and Partner, Natarajan Sankar, stressed the importance of leveraging global advancements in technology.

He noted, “India, already the third-largest automobile industry, stands on the verge of transformative change in the coming years. Harnessing global innovations in EVs, digital technologies, and AI will be critical for OEMs to meet the distinct demands of Indian consumers.”

Digital Transformation In Mobility Industry

The mobility industry in India is undergoing a major transformation, with digitalization reshaping the ecosystem.

Bhaskar Ramesh, Director of Omni-Channel Businesses at Google India, highlighted that shifting customer preferences, particularly those driven by Gen Z and women, are accelerating digital purchase journeys over traditional ones.

Ramesh also noted that the growing demand for personalization offers tremendous opportunities for AI to enhance the entire customer experience, from pre-purchase to in-vehicle experiences and after-sales services.

Indian Consumers’ Needs

Approximately 80% of Indian consumers express interest in features like infotainment, real-time parking assistance, and anti-theft technology, while they show less demand for globally popular features like remote controls.

Vikram Janakiraman, Managing Director and Senior Partner at BCG pointed out that the rapid pace of change in consumer preferences highlights the need for continuous adaptation.

“As electric vehicles become mainstream across both E2Ws and E4Ws, addressing these emerging value pools will be crucial for both incumbents and new players. The Indian consumer’s needs will continue to evolve, and successful companies will need to integrate digital technologies, AI, and tech solutions to remain competitive,” he said.

Also Read: GenAI Set To Transform Over 3 Cr Jobs In India By 2030