BloombergNEF's 2026 India EV Outlook says India's road transport fuel demand will keep rising over the next eight years and is expected to peak around 2034 at just above 2.5 mln bpd before gradually declining. Near-term growth is driven by rising vehicle ownership and higher fuel use in commercial transport; over the longer term rising EV penetration among two‑wheelers, three‑wheelers and passenger cars is expected to more than offset commercial fuel consumption growth and push overall demand do

BloombergNEF's 2026 India EV Outlook says India's road transport fuel demand will keep rising over the next eight years and is expected to peak around 2034 at just above 2.5 mln bpd before gradually declining. Near-term growth is driven by rising vehicle ownership and higher fuel use in commercial transport; over the longer term rising EV penetration among two‑wheelers, three‑wheelers and passenger cars is expected to more than offset commercial fuel consumption growth and push overall demand down.