Trends and Insights in the India Electric Two-Wheeler Market: A Comprehensive Market Report

India Electric Two-Wheeler Market Set to Reach USD 1,028.04 Million by 2028, Driven by Adoptability and Technological Advancements

According to the TechSci Research report titled "India Electric Two-Wheeler Market - Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028F," the electric two-wheeler market in India is projected to reach USD 1,028.04 million by 2028, with a remarkable CAGR of 29.07%. This growth can be attributed to the rapid increase in adoptability and advancements in electric vehicles technology. Factors contributing to the surge in electric two-wheeler adoption include rising per capita income, enabling greater purchasing power, as well as concerns over escalating pollution levels caused by internal combustion engine (ICE) vehicles. To further encourage the widespread adoption of electric two-wheelers across the country, the government offers subsidies under the FAME II initiative and state-level EV policies. Leading companies and emerging players are also investing significantly in research and development to develop cutting-edge technology and features, while ensuring affordability, thereby attracting more customers and driving sales of electric two-wheelers. The adoption of electric vehicles in India can help reduce air pollution, carbon emissions, and dependence on fossil fuels. Electric two-wheelers require less maintenance, have fewer moving parts, and thus incur lower operating costs compared to ICE vehicles. Additionally, several factors contribute to the growth of electric two-wheeler sales, including the high cost of fossil fuels, increasing preference for personal mobility, expanding charging infrastructure, EV financing options, and government incentives. However, challenges such as a lack of charging infrastructure, low awareness, and high initial costs pose obstacles to the growth of the electric two-wheeler market in India.

Impact of the COVID-19 Pandemic on the Electric Two-Wheeler Market

The COVID-19 pandemic had a profound impact on public health and triggered a global economic crisis. It significantly disrupted production and supply chains, leading to a shortage of auto components and impacting two-wheeler production. Moreover, the higher cost of electric vehicles compared to traditional cars, ranging from 35% to 50% more, has made Indian vehicle buyers hesitant to invest until they see substantial benefits in terms of fuel savings and tax rebates. Long charging durations of EV batteries in comparison to the quicker refueling times of ICE vehicles are also cited as a reason for slow adoption. Nevertheless, the market is witnessing increased investment and collaboration to improve range and affordability, with a focus on achieving zero emissions and green energy. The sales of electric two-wheelers witnessed growth in 2022, and it is projected to continue growing at a CAGR of 27.62% in terms of volume through 2028.

Browse more than 24 market data Figures spread through 70 Pages and an in-depth TOC on "India Electric Two-Wheeler Market" - https://www.techsciresearch.com/report/india-electric-two-wheeler-market/1668.html

Segmentation of the India Electric Two-Wheeler Market

The India electric two-wheeler market can be segmented based on vehicle type, battery type, voltage capacity, battery capacity, range, region, and company. Currently, the electric scooter/moped segment dominates the market, accounting for the majority of market share. However, the motorcycle segment is expected to grow at a CAGR of 47.72% by 2028. In terms of battery type, Lithium-ion batteries hold over 90% of the total market share, thanks to the advanced technology offered by emerging players, providing zero-emission, high battery capacity, and overall performance. This trend is anticipated to continue in the coming years. The 48-59 v category leads in terms of voltage capacity, capturing nearly 70% of the total market share, as it helps maintain competitive and affordable prices for electric two-wheelers in the Indian market. In terms of battery capacity, the <2 KWh segment is the market leader, followed by the 2-2.5 KWh segment. The 50-100 km segment holds the highest share in terms of vehicle range per charge, followed by the 101-150 km segment.

Some of the major companies operating in India Electric Two-Wheeler Market include:

• Hero Electric Vehicles Pvt. Ltd.
• Okinawa Autotech Pvt. Ltd.
• Greaves Electric Mobility Pvt. Ltd.
• Ather Energy Pvt. Ltd.
• PuREnergy Pvt. Ltd.
• Ola Electric Technologies Pvt. Ltd
• TVS Motor Company
• Revolt Intellicorp Pvt. Ltd.
• Bajaj Auto Ltd.
• Benling India Energy & Technology Pvt Ltd.

“Many companies are investing in advanced technological research and development, which increases performance per charge, decreases charging time, and improves infrastructure for charging stations, making electric two-wheelers more acceptable to people.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Electric Two-Wheeler Market By Vehicle Type (Scooter/Moped, Motorcycle), By Battery Type (Lithium-Ion, Lead Acid), By Voltage Capacity (48-59 V, 60-72 V, 73-96 V), By Battery Capacity (<2 KWh, 2-2.5 KWh, >2.5 KWh), By Range (<50 km, 50-100 km, 101-150 km, >150 km) By Region, Competition, Forecast & Opportunities, 2028” has evaluated the future growth potential of India Electric Two-Wheeler Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India Electric Two-Wheeler Market.

Report Scope:

In this report, India electric two-wheeler market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• India Electric Two-Wheeler Market, By Vehicle Type:
  • Scooter/Moped
  • Motorcycle
• India Electric Two-Wheeler Market, By Battery Type:
  • Lithium-Ion
  • Lead Acid
• India Electric Two-Wheeler Market, By Voltage Capacity:
  • 48-59 V
  • 60-72 V
  • 73-96 V
• India Electric Two-Wheeler Market, By Battery Capacity:
  • <2 KWh
  • 2-2.5 KWh
  • >2.5 KWh
• India Electric Two-Wheeler Market, By Range:
  • 50-100 km
  • 101-150 km
  • >150 km
  • <50 km
• India Electric Two-Wheeler Market, By Region:
  • South India
  • West India
  • North India
  • East India

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About TechSci Research:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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