A

PROJECT REPORT
ON

“Indian Automotive market Analysis”

Submitted in partial fulfillment of the requirements of the award of the degree.

of

BACHELOR OF TECHNOLOGY
in

MECHANICAL ENGINEERING

by

Hrushikesh Andurlekar
19070125014

UNDER THE GUIDANCE OF

Mr. Sarfaraz shaikh Prof. Shahid Tamboli

DEPARTMENT OF MECHANICAL ENGINEERING

SYMBIOSIS INSTITUTE OF TECHNOLOGY
(A CONSTITUENT OF SYMBIOSIS INTERNATIONAL UNIVERSITY)
PUNE-412115
(2019 - 2023)

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 Symbiosis Institute of Technology
(A Constituent of Symbiosis International University)
Symbiosis Knowledge of Village, Gram: Lavale, Tal.: Mulshi,

Pune-412115, Maharashtra State, India

CERTIFICATE
The Seminar Report entitled “Indian Automotive market Analysis” is delivered and
submitted by Hrushikesh Andurlekar (19070125014) of VIII Semester for partial
fulfillment of requirement for the degree of B.Tech. in Mechanical Engineering of
Symbiosis International University during the academic year 2019-2023.

Dr. Anand Pande Prof. Sarfaraz shaikh

(Head) (Internal Guide)

Department of Mechanical Engineering Department of Mechanical Engineering

EXAMINERS:

1) ----------------------------------------------

2) ----------------------------------------------

3) ----------------------------------------------

Date:

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ACKNOWLEDGEMENT

I am thankful to Faculty Mentor Prof. Sarfaraz shaikh for giving me timely and valuable
suggestions for completing bi-weekly seminar reports and compiling final seminar report.

I am thankful to Prof. Anand Pande, Head of Department of Mechanical Engineering, for

his motivating and valuable support throughout the course.

Hrushikesh Andurlekar
19070125014

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CONTENTS

Sr. No. Page

No.

1 Introduction 6

2 Market Size and Growth 7

3 Market Trends 8

4 Goals 9

5 Data set 10

6 Data Insights 11

7 Data Processing 12

8 Ranking 13

9 Clustering 14

10 Forecasting
11 Conclusion
12 References

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List of Figures

Sr. No. Page

No.

1 Heat map 6

2 Scatter plot for Battery capacity and Power 7

3 Scatter plot for Price and Power 8

4 Scatter plot for Battery capacity and DC charge time 9

5 Registration changes throughout the years 10

6 Registration changes throughout the years for non- 11

Hybrid cars
7 EV registration increases throughout the years 12

8 Percentile changes throughout the years for non- 13

Hybrid cars
9 Percentile changes throughout the years of Hybrid 14
vehicles
10 Parameter creation
11 Ranking of vehicles 1
12 Ranking of vehicles 2
13 Overall Ranking
14 Clustering of Data based on range charged per min in
AC and DC
15 Clustering of Data based on Price and Operating
Efficiency
16 Time series Forecasting

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Introduction
India's automotive sector is one of the largest and contributes significantly to the country's GDP; it
accounts for 7.1% of GDP in 2023. There are four types of motorcycles: passenger motorcycles,
commercial vehicles, two-wheelers, and three-wheelers. The automotive sector has played an
important role in India's economic development, employing millions of people.
Market size and growth
The Indian automotive industry has been growing exponentially in recent years, reaching a
market size of US$5 billion in 2020.New technologies such as electric vehicles are crucial to this
progress. Due to the reduction in CO2 emissions, electric vehicles are becoming more and more
popular, and the Indian government has taken measures to encourage the production of electric
vehicles in the automotive sector.
Several studies have been conducted to examine the economic, social, technological, and
environmental issues affecting the electric car sector in India. These factors influence the
development of infrastructure and batteries. The Indian government has introduced a number of
frameworks and regulations to encourage the deployment of electric cars, such as the FAME plan
(Faster Adoption and Manufacturing of Hybrid and Electric Car). The FAME program promotes
the purchase of electric cars and the development of charging infrastructure.
Market trends
The development of the Indian automobile business is not only limited to electric cars; The
conventional car market is also growing. The Indian government's emphasis on boosting electric
vehicle adoption and the expansion of the traditional automotive market creates a favourable
climate for corporations to invest in the Indian automotive market. During the period 2021-2026,
the Indian automotive industry is predicted to increase at a CAGR of 8.02%.

About the paper

In this paper, the main goal is to analyse the market trends in the automotive market of India. For
this, the overall registration of the vehicle was taken as a parameter for studying as this is readily
available on the government website. For this, the data for the past decade was compiled.
Through this data, the current trends can be studied and analysed to predict upcoming market
conditions and future directions.
The vehicle industry's future is electric, and this tendency is already seen in India. The Indian
government has made initiatives to increase the manufacturing of electric vehicles in the
automotive sector, and the global market for electric vehicles is rapidly rising. To study this shift
in the market another data set was compiled which included all the electric vehicles released in
the Indian market as of January 3023. This paper includes a comparative study of various
parameters such as their range, efficiency, charging times, etc.

About Data set

For this project there were 2 data sets compiled, one contained the vehicle registration of
different fuel types to understand the growth in the market the second data set contained the EVs
available in the Indian market as of January of 2023. Vehicle registrations all over India were
obtained through the ‘Vahan Sewa’ site which is a government-managed website containing the
overall registration data all over India. For the second data set the data was obtained through
online research and company websites.

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Insights
The presentation of statistical information in graphically or pictorially comprehensible formats to
improve interpretation, analysis, and communication of the underlying content is known as data
visualization. However, it is crucial to remember that this methodology is not always necessary
or desirable: other methods, such as written reports, matrices, or verbal articulations, may be
more appropriate. For visualization and analysis of the data, python was used.

To gain insights from the data set, data needed to be viewed in visual representation, for this
different graph were plotted such as a heat map. A heat map is a graphical representation of data
that uses colours to show intensity or magnitude. It displays data in a two-dimensional format,
generally as a grid or matrix, to provide a visual overview of information.

Heat maps allow for the spotting of outliers, trends, and linkages that might otherwise be missed
in raw data. Through this, we can find the correlation between the variables.

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For the sales trends, the percentile increase, and decrease were first calculated to gain insights
into the growth of the market. These were then used to understand the growth of various types of
cars types in the Indian market

Through the graph above we can observe that the market is occupied by petrol and diesel
vehicles. While other hybrid vehicles occupy less of the market shares. Electric vehicles are
another emerging category of vehicles that are emerging throughout the world as the future of
the automotive industry. The graph below shows us the comparison between petrol, diesel, and
electric vehicles.

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 The graph below shows us the growth of EVs in the market from 2013-22. The number of on-
road electric vehicles has significantly increased after the year 2020 such as FAME India
Scheme, GST Reduction, Income Tax Benefits, and several other state-level Incentives.

The graph below highlights the significant change in the automotive market, the graph shows the
percentile change in the market condition. In this, we can observe that there was a significant
increase of EVs in the market in the year 2020, followed by a decline in the number which was

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likely affected due to the economic downturns faced during the lockdown. The number of petrol
and diesel vehicles was not affected as much which can be clearly seen in the graph.

The graph below shows the percentile changes in hybrid vehicles in the market. The graph shows
high fluctuation indicating that hybrid vehicles did not establish themselves well in the Indian
market and were like a short-lasting trend in the market.

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Data Processing
To better understand the data and the parameters additional variables were needed. These were
obtained using simple formulas.
Operating Efficiency = Battery Capacity / Range
Per min charge AC/DC = Range / Charging time in min.

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Ranking
The vehicles available in the Indian market as of January of 2023 were ranked based on various
parameters and an overall ranking was given to these vehicles based on the same.

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Clustering
Clustering is a prominent technique in machine learning and data analysis for grouping together
comparable data items based on their underlying traits or patterns. Clustering algorithms seek to
uncover important links or structures within datasets, making them useful in a variety of fields.
Clustering algorithms examine patterns and similarities in data without regard for class labels or
categories. They commonly use distance or similarity measurements to assess data point
closeness and arrange them accordingly.
In the research, the clusters gave ideas for high-spec and low-spec parameters in the group of
observed vehicles.

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Forecasting
Time series forecasting is a statistical technique that predicts future values using patterns and
trends seen in historical time series data. It entails analysing and modelling data that has been
collected progressively across time, with each observation assigned a time stamp.

Time series forecasting has many applications in finance, economics, sales and demand
forecasting, weather forecasting, stock market analysis, resource planning, and other fields. It
allows businesses and organizations to make more informed decisions, optimize resource
allocation, and predict future trends or events.

Using the available data, we can predict the upcoming trends for the market. The model used for
the same is Autoregressive Integrated Moving Average (ARIMA) models determine auto
Correlation in a period series by taking three components into account: autoregression (AR),
differencing (I), and moving average (MA). They work well with stationary time series data.
The graph below shows the future market scope for electric vehicles in India.

The graph shows there will be an increase in the number of on-road EVs in the coming years.

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Conclusion
Through this paper we gain a through understand on how various vehicle types are performing in the
Indian market condition with in-depth research of the EV market scenario. The paper gives a throw
analysis of different types of EV in the market along with their different performance and a ranking.

References
 https://www.ibef.org/industry/india-automobiles
 https://static.pib.gov.in/WriteReadData/specificdocs/documents/2023/feb/
doc2023217160601.pdf
 https://www.investindia.gov.in/sector/automobile
 https://yourstory.com/2023/04/indias-automotive-industry-growth-trends-global-prominence
 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8327897/

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