India Electric Scooter Market Expected to Witness a Sustainable Growth over 2023
India Electric Scooters Market Overview:
The study documents by MRFR state that the Indian market for electric scooters Research Report Information by Voltage Type, Drive Type, Battery Type, Range, Scooter Category, End-use, and Region - Forecast Till 2032, the Indian electric scooters market is likely to grow considerably throughout the valuation period from 2022 to 2032 at a notable CAGR of nearly 33.25%. The research reports provide predictions regarding the global market's rising revenue data, which is anticipated to acquire a market worth of USD 13,089.0 million by the end of 2032. The reports also tell that the market will be worth nearly USD 710.0 million in 2022. The Indian market for electric scooters has recently advanced. The main feature causing a rise in market performance is that e-mobility is becoming a significant segment within the broader automotive industry.
Furthermore, the rising environmental concern among people is also considered to be one of the vital aspects causing a surge in the performance of the regional market. Moreover, aspects such as government incentives, a diverse range of available models, and cost-effectiveness are also likely to enhance the growth of the regional market. Growing awareness and concerns about environmental sustainability have caused consumers and policymakers to look out for cleaner substitutes for conventional gasoline-powered vehicles.
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Competitive Analysis
· Hero Electric Vehicles Pvt Ltd
· Greaves Electric Mobility Private Limited (Ampere Vehicles Pte. Ltd.)
· Electrotherm Ltd
· Ola Electric Technologies Pvt LTD.
· Avon Cycles Ltd
· Lohia Auto
· Benling India Energy and Technology Pvt Ltd
· Crayon Motors
· Okinawa Autotech Pvt. Ltd
· Kabira Mobility
· TVS Motor Co. Ltd
· Ather Energy
· Bajaj Auto Ltd.
· Gogoro
· Ather Energy Pvt. Ltd.
· Aftek Motors India Pvt Ltd
· Mahindra Electric
· Benling India
India Electric Scooter Market Drivers
The Indian market for electric scooters has recently advanced. The main feature causing a rise in market performance is that e-mobility is becoming a significant segment within the broader automotive industry. Furthermore, the rising environmental concern among people is also considered to be one of the vital aspects causing a surge in the performance of the regional market. Moreover, aspects such as government incentives, a diverse range of available models, and cost-effectiveness are also likely to enhance the growth of the regional market. Growing awareness and concerns about environmental sustainability have caused consumers and policymakers to look out for cleaner substitutes for conventional gasoline-powered vehicles.
India Electric Scooter Market Restraints
However, several parameters may impede the performance of the Indian market for electric scooters. One of the main parameters limiting the development of the market's development is the elevated prices allied with raw materials.
India Electric Scooter Segment Analysis
The Indian market for electric scooters has been segregated into various segments based on drive type, scooter category, range, end-user, voltage type, battery type, and region.
Based on the battery type, the Indian market for electric scooters is divided into Nickel Metal Hydride Batteries (NiMH), Li-ion., and Lead Acid.
Based on the voltage type, the Indian market for electric scooters is divided into Above 96V, 73-96V, 60-72V, and 48-59V.
Based on the drive type, the Indian market for electric scooters is divided into Hub Motor and Belt Drive.
Based on the end-users, the Indian market for electric scooters is divided into Commercial and Private Fleets.
Based on the range, the Indian market for electric scooters is divided into above 100 km, 50-100 km, and Up to 50 km.
Based on the scooter category, the Indian market for electric scooters is divided into budget and premium.
India Electric Scooter Market Regional Analysis
The Indian market for electric scooters has recently advanced. The main feature causing a rise in market performance is that e-mobility is becoming a significant segment within the broader automotive industry. Furthermore, the rising environmental concern among people is also considered to be one of the vital aspects causing a surge in the performance of the regional market. Moreover, aspects such as government incentives, a diverse range of available models, and cost-effectiveness are also likely to enhance the growth of the regional market. Growing awareness and concerns about environmental sustainability have caused consumers and policymakers to look out for cleaner substitutes for conventional gasoline-powered vehicles. In addition, the Urban mobility solutions and Rapid Adoption of Electric Scooters are also likely to catalyze the growth of the regional market over the coming years.
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