India Electric Two-Wheeler Market Assessment, By Vehicle type [Electric Motorcycle, Electric Scooter], By Type of Battery [Lithium Ion, Lead Acid], By Battery Technology [Removable, Non-Removable], By Distribution Channel [Original Equipment Manufacturers (OEMs), Dealers and Distributors], By Region, Opportunities, and Forecast, FY2017-FY2031F

India Electric Two-Wheeler Market is forecast to grow at a CAGR of 40.34% during the forecast period between FY2024-FY2031 and was valued at USD 1.16 billion in FY2023.

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India Electric Two-Wheeler Market is forecast to grow at a CAGR of 40.34% during the forecast period between FY2024-FY2031 and was valued at USD 1.16 billion in FY2023. Being one of the largest two-wheeler marketplaces in the world, India’s electric two-wheeler market is driven by rising environmental concerns among consumers, government schemes offering rebates and subsidies on usage of electric vehicles to promote reduced carbon emissions.

A shift towards electric mobility has become essential in India to control the adverse environmental impacts which is being caused by the increasing vehicles on the road. Electric two-wheelers are small, self-propelled vehicles that run on either a rechargeable battery or an integrated electric motor. They are an environmentally friendly replacement to other forms of transportation since they are lightweight, adaptable, durable, affordable, fuel-efficient, and fuel-efficient. The compact electric two-wheelers are becoming more popular since they make it possible to travel short distances faster and avoid traffic bottlenecks.

Environmental Consciousness coupled with Social Influence

Fossil fuels like, diesel, petrol and natural gas are used for transportation, carbon dioxide (CO2) is released into the atmosphere, compromising both human health and the environment. Electric vehicle (EV) production and promotion are significant steps in this approach. They lead to less noise pollution, zero carbon emission, better air quality, and overall fuel savings. Indian population is becoming highly conscious of the environmental concerns and switching to eco-friendly modes of transport, including electric two-wheelers. Moreover, India being a highly social nation, influence from peer, family members, celebrities and social media adds to the adoption preferences of buyers in the country.

Government scheme

By providing subsidies for the purchase of electric vehicles, the government of India is helping the industry grow at a faster pace. In line with this, these incentives have increased the consumer acceptability of battery-powered scooters and motorbikes. Tax deductions, purchase reimbursements, and financial incentives are some supportive initiatives for EV buyers. As a result, the government is offering subsidies through the FAME II (Faster Adoption and Manufacture of EV’s) scheme and separate state EV policies to encourage the adoption of electric vehicles more quickly.

Impact of COVID-19 on India Electric Two-Wheeler Market

The pandemic had an impact on the public's health and initiated an economic crisis globally. The pandemic had a significant impact on production and the supply chain. Due to restrictions the Indian government imposed on imports coming from China, the supply of lithium-ion batteries was affected, which led to stagnating sales of electric two-wheelers. All automobiles’ sectors, including factories, showrooms, and workshops, were closed, resulting in a massive drop in overall production and sales of automobiles. In addition to taking opportunity of the demand, two-wheeler EV manufacturers are now expecting an increase in sales following the lockdown, claiming that their vehicles are now more cost-effective and acceptable for commuting within cities.

India Electric Two-Wheeler Market Assessment, Opportunities, and Forecast: Report Scope

India Electric Two-Wheeler Market Assessment, Opportunities and Forecast, 2017-2031F,” is a comprehensive report by Market Xcel, providing in-depth analysis and assessment of the current state of business in the electric two-wheeler market in India, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19, opportunities and forecasts (2024-2031). Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute

Details

Base Year of Analysis

FY2023

Historical Period

FY2017-FY2022

Forecast Period

FY2024-FY2031

Market Size in FY2023

USD 1.16 billion

Projected Growth Rate

CAGR of 40.34% from 2024-2031

Revenue forecast in FY2031

USD 12.44 billion

Units

Revenue in USD and Volume in Units

Segments Covered

By Vehicle Type

By Type of Battery

By Battery Technology Type

By Distribution Channel

Regions Covered

Top 5

Key Companies Profiled

Hero Electric Vehicles Pvt. Ltd., Ola Electric Technologies Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Ather Energy Pvt. Ltd., Ampere Vehicles Pvt. Ltd., PurEnergy Pvt. Ltd., TVS Motor Company Ltd., Revolt Intellicorp Pvt. Ltd., Benling India Energy and Technology Pvt Ltd, Bajaj Auto Ltd. 

Customization Scope

15% free report customization with purchase.

Pricing and Purchase Options

Avail the customized purchase options to fulfil your precise research needs.

Delivery Format

PDF and excel through email

Download Free Sample Report

 

In this report, India Electric Two-Wheeler Market has been segmented into following categories:

1.        India Electric Two-Wheeler Market, By Vehicle Type

1.1.    Electric Motorcycle

1.2.    Electric Scooter

2.       India Electric Two-Wheeler Market, By Type of Battery

2.1.    Lithium ion

2.2.    Lead acid

3.       India Electric Two-Wheeler Market, By Battery Technology Type

3.1.    Removable

3.2.    Non-Removable

4.       India Electric Two-Wheeler Market, By Distribution Channel

4.1.    Original Equipment Manufacturers (OEMs)

4.2.    Dealers and Distributors

5.       India Electric Two-Wheeler Market, By Region

5.1.    North

5.2.    South

5.3.    West and Central

5.4.    East

Key Player Landscape and Outlook  

Factors such as intensified competition, rising demand for two-wheeler, environmental sustainability, and globalization result in major challenges for vehicle production to sustain in the industry. Wide range of companies are involved in the development and manufacturing of Electric Vehicles to stay ahead of the competition and are making significant investments in R&D projects to introduce new products and increase production capabilities.

When Ola Electric launched its Electric two-wheelers, it immediately rose to the top of the list of the most popular Electric vehicle brands in India. Ola Electric, which is supported by several well-known investors, delivers electric automobiles to clients' houses instead of through conventional dealerships. In 2022, Hero Electric, India's first producer of electric two-wheelers, sold more than 100 thousand e-scooters and aims to sell over five million electric vehicles in coming three years.  

Key Players Operating in India Electric Two-Wheeler Market

·         Hero Electric Vehicles Pvt. Ltd.

·         Ola Electric Technologies Pvt. Ltd.

·         Okinawa Autotech Pvt. Ltd.

·         Ather Energy Pvt. Ltd.

·         Ampere Vehicles Pvt. Ltd.

·         PurEnergy Pvt. Ltd.

·         TVS Motor Company Ltd.

·         Revolt Intellicorp Pvt. Ltd.

·         Benling India Energy and Technology Pvt Ltd

·         Bajaj Auto Ltd.

If you can't find what you're searching for or have any custom requirements for India Electric Two-Wheeler Market, you may approach our team at info@marketsandata.com

Table Of Content

1. Product Overview

2. Research Methodology

3. Impact of Covid-19 on India Electric Two-Wheeler Market

4. Executive Summary

5. Voice of Customer

5.1. Brand Awareness and Loyalty

5.2. Brand Satisfaction

5.3. Factors Considered in Purchase Decision

5.4. Medium of Purchase

5.5. Frequency of Purchase

5.6. Understanding of Channel Retail

5.7. Recommendations and Suggestions

6. India Electric Vehicle Market Outlook, FY2016-FY2030

6.1. Market Size & Forecast 

6.1.1. By Value

6.1.2. By Volume

6.2. Market Share and Forecast

6.2.1. By Vehicle type

6.2.1.1. Electric Motorcycle

6.2.1.2. Electric Scooter

6.2.2. By Battery type

6.2.2.1. Lithium ion

6.2.2.2. Lead acid

6.2.3. By Battery Technology type

6.2.3.1. Removable

6.2.3.2. Non-Removable

6.2.4. By Distribution Channel

6.2.4.1. Original Equipment Manufacturers (OEMs)

6.2.4.2. Dealers and Distributors

6.2.5. By Region

6.2.5.1. North

6.2.5.2. South

6.2.5.3. West and Central

6.2.5.4. East

7. India Electric Two-Wheeler Market Mapping, 2021 

7.1. By Vehicle type

7.2. By Battery type

7.3. By Battery Technology type

7.4. By Distribution Channel

7.5. By Region

8. Price Point Analysis for Key Five Market Leaders

9. Case Studies (Best Practices Adopted by India Electric Two-Wheeler Market Players, Up to Three)

10. Macro-Business Environmental Scope

10.1. Value Chain analysis

10.2. Demand Supply Analysis

10.3. PESTEL Analysis

10.3.1. Political Factors

10.3.2. Economic Factors

10.3.3. Social Factors

10.3.4. Environmental Factors

10.3.5. Legal Factors & Regulatory Policies

10.4. Business Environment Analysis

10.4.1. Supplier Power

10.4.2. Buyer Power

10.4.3. Substitution Threat

10.4.4. Threat from New Entrant

10.4.5. Competitive Rivalry

11.  Market Dynamics

11.1. Trends and Developments

11.2. Growth Drivers

11.3. Pertaining Challenges

12. Key Players Landscape

12.1. Competition Matrix of Market Leaders

12.2. Market Revenue Analysis of Market Leaders (in %, 2022)

12.3. Mergers & Acquisitions/ Joint Ventures (If Applicable)

12.4. SWOT Analysis (For Five Market Players)

13. Key Players Outlook 

13.1. Hero Electric Vehicles Pvt. Ltd.

13.1.1. Company Details

13.1.2. Key Management Personnel

13.1.3. Products & Services

13.1.4. Financials (As reported)

13.1.5. Key Market Focus & Geographical Presence

13.1.6. Recent Developments

13.2. Ola Electric Technologies Pvt. Ltd.

13.3. Okinawa Autotech Pvt. Ltd.

13.4. Ather Energy Pvt. Ltd.

13.5. Ampere Vehicles Pvt. Ltd.

13.6. PurEnergy Pvt. Ltd.

13.7. TVS Motor Company Ltd.

13.8. Revolt Intellicorp Pvt. Ltd.

13.9. Benling India Energy and Technology Pvt Ltd

13.10. Bajaj Auto Ltd. 

*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

14. Strategic Recommendations
15. About Us & Disclaimer

What are the major drivers for the India Electric Two-Wheeler Market?

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