India Electric Two-Wheeler Market Outlook (2023-2029) | Value, Share, Growth, Industry, Analysis, COVID-19 IMPACT, Trends, Revenue, Companies, Size & Forecast

Topics Covered in the India Electric Two-Wheeler Market

India Electric Two-Wheeler Market report thoroughly covers the market By Vehicle Type, by battery type, by speed type, by regions, and by service type. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Electric Two-Wheeler Market Synopsis

Electric vehicles have been gaining popularity across the world, thanks to their environment-friendly nature and cost efficiency. In India, electric vehicles adoption has been phenomenally increasing, especially in the two-wheeler segment. The electric two-wheeler industry in India has been growing significantly and is estimated to surge even more in the coming years. The rise in electric two-wheeler sales can be attributed to the government's push to establish electric vehicle infrastructure and reduce CO2 emissions.

According to 6Wresearch, the India Electric Two-Wheeler Market size is widening effortlessly during the forecast period 2023-2029. The rising need for clean transportation, especially in urban areas. Electric two-wheelers are much more environmentally friendly than their petrol-powered counterparts. Additionally, they are much more fuel-efficient, and their overall cost of ownership is much lower than petrol-based bikes, making them an attractive option not only for the environment-conscious but also for the value-driven consumer. Despite the market growth, there are several challenges affecting the India Electric Two-Wheeler Market growth. One such is the lack of an extensive electric vehicle charging infrastructure in the country.

Additionally, the initial cost of acquiring an electric two-wheeler is high when compared to a petrol-powered bike. There is also a lack of awareness among consumers regarding the benefits of electric two-wheelers, making it difficult for manufacturers to market their products. Nevertheless, the market still growing due to the introduction of new products with improved battery technology as their key feature. The India electric two-wheeler industry is also expected to continue benefiting from government incentives and support for electric vehicles. Additionally, the demand for affordable electric scooters is growing rapidly, further accelerated by the entry of new players in the market. Electric scooters are easy to use, have lower running costs than petrol scooters, and require very little maintenance.

Government Initiatives introduced in the India Electric Two-Wheeler Market

The Indian government has taken several initiaitves to promote the electric vehicle industry, making it one of the most favorable markets for electric vehicles globally. Initiatives like the Faster Adoption and Manufacturing of Electric Vehicles Scheme (FAME) have been launched to incentivize the use of electric vehicles in India. The government is also promoting the establishment of electric vehicle charging stations across the country, and this drive has already resulted in the installation of more than 1000 charging stations. These initiatives are creating an opportunity and increasing India Electric Two-Wheeler Market share.

Key Players in the India Electric Two-Wheeler Market

Market has numerous leading payers operating seamlessly, some of them are Hero Electric, Bajaj Auto, TVS, and Okinawa leading the way. The competition in the electric two-wheeler segment is fierce, with new players such as Ather Energy and Revolt greatly contributing to the industry's growth. Each manufacturer has a distinct feature, giving customers a wide range of options to choose from.

Market Analysis by Vehicle Type

According to Dhaval, Research Manager, 6Wresearch, electric scooters are leading the growth in the Indian electric two-wheeler market. They are more affordable, practical, and widely accepted by consumers, compared to electric motorcycles.

Market Analysis by Battery Type

Based on the battery type, lithium-ion batteries are dominating the India Electric Two-Wheeler Market share currently due to a longer range, faster charging, and are more efficient. However, lead-acid batteries are still widely used.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Historical data & Forecast of India Electric Two-Wheeler Market Revenues and Volume for the Period 2019-2029F
• Historical data & Forecast of India Electric Two-Wheeler Market Volume, By Speed, for the Period 2019-2029F
• Historical data & Forecast of India Electric Two-Wheeler Market Revenues and Volume, By Vehicle Type, for the Period 2019-2029F
• Historical data & Forecast of India Electric Two-Wheeler Market Revenues, By Battery Type, for the Period 2019-2029F
• Historical data & Forecast of India Electric Two-Wheeler Market Revenues, By Regions, for the Period 2019-2029F
• Forecast of India Electric Two-Wheeler Battery Swapping Market Revenues for the Period 2021E-2027F
• Forecast of India Electric Two-Wheeler Battery Swapping Market Revenues, By Service Type, for the Period 2021E-2027F
• India Electric Two-Wheeler Market Outlook on Drivers and Restraints
• India Electric Two-Wheeler Market Trends
• India Electric Two-Wheeler Market Ecosystem
• India Construction Equipment Industry Life Cycle
• Porter’s Five Force Analysis
• India Electric Two-Wheeler Market Opportunity Assessment
• India Electric Two-Wheeler Market Volume Share, By Company
• India Electric Two-Wheeler Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Vehicle Type

• Scooters
• Motorcycle

By Battery Type

• Lithium-Ion
• Lead Acid

By Speed Type

• Low Speed (Below 25 km/h)
• High Speed (Above 25 km/h)

By Regions

• Eastern
• Western
• Northern
• Southern

By Service Type

• Subscription Model
• Pay-Per-Use Model