India Electric Scooters and Motorcycles Market Professional Survey Report, Industry Growth, Shares, Market Size, Opportunities and Forecast to 2025
The electric scooters and motorcycles market in india is predicted to generate a revenue of $698.3 million by 2025, progressing at a 36.3% CAGR during the forecast period. The increasing concerns toward greenhouse gas emissions (GHG), leading to various government initiatives and the formulation of strict emission regulations, are some of the key factors responsible for the growth of the market. In addition, the entrance of new and existence of established manufacturers, as well as the introduction of various new variants of electric scooters, are projected to augment the market growth during the forecast period.
Based on battery type, the Indian electric scooters and motorcycles market is bifurcated into lithium-ion (Li-ion) and sealed lead acid (SLA). Of these, the sealed lead acid battery bifurcation led the market of two-wheelers in India in terms of sales volume. This is attributed to the fact that SLA batteries are comparatively lower priced than Li-ion batteries. However, in recent years, Li-ion batteries costs have fallen rapidly, helping the segment grow at a significant pace.
Availability of government subsidies and incentives acting as a major driver
The gaining momentum of Li-ion powered two-wheelers is a key trend witnessed in the market
Additionally, government support for Li-ion battery-based electric scooters under the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME II) scheme is also predicted to benefit the category during the forecast period. The Indian government is strengthening the electric vehicles market by offering subsidies on their purchase. These subsidies have also aided the Indian electric scooters and motorcycles market by making electric two-wheelers more affordable for customers.
INDIA ELECTRIC SCOOTERS AND MOTORCYCLES MARKET SEGMENTATION
by Battery Type
- Sealed Lead Acid
- 36 V
- 48 V
- 60 V
- 72 V
by Maximum Speed
- <25 Km/h
- 25–50 Km/h
- >50 Km/h
- <1 kW
- >1 kW
by Charging Time
- <4 h
- 4–6 h
- >6 h
- Uttar Pradesh
- West Bengal
- Tamil Nadu
- Madhya Pradesh
Uttar Pradesh was the largest electric scooters and motorcycles market in 2018
Geographically, Uttar Pradesh is the largest market of electric scooters and motorcycles in India. It is the most populated state in India, having population of more than 200 million in 2017. The state is the largest market for motorcycles and accounts for 15% of the total sales volumes, and the penetration of electric scooter and motorcycle is increasing in the state. In addition, rising women users specially in tier 2 and tier 3 cities is further leading to increased demand of electric scooter in the state. Major OEMs are focusing to increase their share by expanding dealer networks in the state. The other prominent market for electric scooters in India are Maharashtra, West Bengal, Gujarat, and Tamil Nadu.
India electric scooters and motorcycles market competitive landscape
Some of the major players of the Indian electric scooters and motorcycles market are Hero Electric Vehicles Pvt. Ltd., Electrotherm (India) Ltd., Avon Cycles Ltd, Ampere Vehicles Pvt Ltd., LOHIA AUTO INDUSTRIES, Okinawa Autotech Pvt. Ltd., and others.
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