India Electric Two-Wheeler Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 35.10% (2024-2032)

The India electric two-wheeler market is rapidly growing, driven by increasing demand for eco-friendly transportation and government incentives. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 35.10% from 2024 to 2032.

India Electric Two-Wheeler Market Trends and Drivers:

The growing environmental consciousness as well as rising fuel prices are the factors responsible for the growth of the India electric two-wheeler market. Additionally, as consumers seek cost-effective and eco-friendly alternatives to traditional petrol vehicles, electric two-wheelers are gaining popularity.

Besides this, the push by government authorities for electric mobility, through initiatives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles scheme, is providing significant incentives, including subsidies and tax benefits, to both manufacturers and buyers. Moreover, the growing urban population and the need for efficient last-mile connectivity are further driving the demand for electric scooters and motorcycles, which offer lower operating costs and ease of maintenance compared to conventional two-wheelers. 

The advancement in battery technology and charging infrastructure is augmenting the India electric two-wheeler market. In addition to this, improvements in lithium-ion batteries are enhancing the range, performance, and affordability of electric vehicles, which is acting as another significant growth-inducing factor. Companies are heavily investing in setting up charging networks, including fast-charging stations, to address range anxiety and improve convenience for users.

The rise of innovative business models, such as battery swapping and subscription-based services, is also making electric two-wheelers more accessible. Furthermore, local manufacturing and increased competition are leading to a broader variety of models and price points, catering to diverse consumer needs. Apart from this, strong support from government authorities, technological advancements, along with growing emphasis on sustainable transportation are anticipated to drive the India electric two-wheeler market in the coming years.

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India Electric Two-Wheeler Market Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Vehicle Type:

• Electric Scooter/Moped
• Electric Motorcycle

Breakup by Battery Type:

• Lithium-Ion
• Sealed Lead Acid (SLA)

Breakup by Voltage Type:

• <48V
• 48-60V
• 61-72V
• 73-96V
• >96V

Breakup by Peak Power:

• <3 kW
• 3-6 kW
• 7-10 kW
• >10 kW

Breakup by Battery Technology:

• Removable
• Non-Removable

Breakup by Motor Replacement:

• Hub Type
• Chassis Mounted

Breakup by Region:

• North India
• West and Central India
• South India
• East and Northeast India

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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