According to a new market report published by BlueWeave Consulting (www.blueweaveconsulting.com), The India Electric Two-Wheeler market is expected to expand at a CAGR of over 40% from 2018 to 2025, end of the forecast period.
Stringent emission norms expected to benefit the India electric scooters and motorcycles market
The electric two-wheeler market is mainly driven by strict emission norms and regulations, government incentives, and increasing environmental awareness. The emissions from conventional gasoline based vehicles cause environmental degradation. The government has started various measures for regulating carbon emissions, thereby indirectly driving the sales of electric scooters and motorcycles in the country. Moreover, the government also prolongs its support for these vehicles in the form of subsidies, thus, encouraging the adoption of these vehicles, as ‘good replacement’ of old conventional ones.
Indian Electric Two-Wheeler market is growing significantly on account of government support and several subsidies under its “FAME India” schemes, which support faster adoption of electric two-wheelers in the country. Market anticipation about the more favorable environment for the development of electric two-wheelers industry under “FAME-II” is also expected to aid the electric two-wheeler market in India in the coming years. The increasing number of electric two-wheeler manufacturers in India and their escalating focus on research & development to manufacturing technologically advanced and affordable electric two-wheelers is further expected to drive the Indian electric two-wheeler market over the forecast period.
India Electric Two-Wheeler Market: Scope of the Report
The India Electric Two-Wheeler market is segmented on the basis of Vehicle type, Battery type, Technology, and Voltage capacity. On the basis of Vehicle type, the market is segmented into Scooter and Motorcycle. On the basis of battery type, the market is segmented into Lead Acid Battery and Lithium-ion Battery. Based on Voltage the market is segmented in 36V, 48V, 60V and 72V. Based on Technology, the market is further segmented into Battery Electric Vehicle and Plug-In Electric Vehicle.
India Electric Two-Wheeler Market: Competitive Dynamics
Companies, such as Hero Electric Vehicles Pvt. Ltd., Lohia Auto Industries, Electrotherm (India) Ltd., Avon Cycles Ltd., Okinawa Autotech Pvt. Ltd., NDS Eco Motors Private Limited, Ampere Vehicles Pvt Ltd, Tunwal E-Bike India PVT. LTD, Ather Energy Pvt. Ltd., Tork Motors Private Limited, etc. are the key players in manufacturing Electric Two-Wheelers in India.
Market Segmentation: India Electric Two-Wheeler Market
By Vehicle Type
By Battery Type
- Lead-Acid Battery
- Lithium-ion Battery
- Plug-In Electric Vehicle
- Battery Electric Vehicle
In addition, the report provides analysis of the India Electric Two-Wheeler market with respect to the following geographic segments:
- North Region
- East Region
- West Region
- South Region
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