India fuel demand seen crossing 2.5 million barrels a day by 2034
In short
India's road fuel demand is projected to go above 2.5 million barrels per day by 2034. The forecast says more vehicles and more commercial transport will drive demand, even as EVs become more popular.
This matters for fuel sellers, transport companies, and EV infrastructure builders because both fuel demand and charging needs are expected to grow.
What the reporting says
India's road fuel demand is projected to exceed 2.5 million barrels per day by 2034, driven by more vehicles and higher commercial transportation. The report also says electric vehicles may gain popularity, especially in two-wheelers and three-wheelers, but around $29 billion in charging infrastructure investment will be needed by 2040. The forecast points to continued fuel use even as EV adoption rises.
Why it matters
The forecast says India's road fuel demand will keep rising through 2034, topping 2.5 million barrels per day, while EV use also grows in two-wheelers and three-wheelers. The report adds that about $29 billion in charging infrastructure investment may be needed by 2040. This is relevant to fuel suppliers, transport operators, and EV infrastructure investors.