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 growing rapidly, driven by increasing demand for eco-friendly transportation and government incentives. According to the latest report by IMARC Group, the market is projected to exhibit a growth rate (CAGR) of 35.10% during 2024-2032.

India Electric Two-Wheeler Market Trends and Drivers:

A high consumer need for cost-effective, eco-friendly, as well as efficient modes of transportation is responsible for the growth of the India electric two-wheeler market. Additionally, rising fuel prices and growing concerns about air pollution have made electric two-wheelers an attractive alternative to traditional petrol-powered vehicles. Government initiatives, including the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles scheme, along with subsidies, tax benefits, and investments in charging infrastructure, are further accelerating the market.

Moreover, advancements in battery technology, including improved energy density and reduced costs, are enhancing the affordability and range of electric two-wheelers, making them accessible to a broader consumer base. The expanding presence of startups and established players in the market is also contributing to increased availability and innovation.

The rising integration of smart features and connectivity in vehicles is augmenting the India electric two-wheeler market. In addition to this, many electric two-wheelers now come equipped with IoT-enabled systems, GPS tracking, mobile app integration, and anti-theft mechanisms, enhancing user convenience and security. The growing focus on sustainable practices has led to the development of swappable battery technology, allowing users to quickly replace discharged batteries, thus addressing range anxiety.

Furthermore, electric two-wheelers are gaining traction in the delivery and logistics sectors, driven by their lower operating costs and zero emissions, aligning with the sustainability goals of businesses. The increasing expansion of electric vehicle (EV) charging networks across urban and semi-urban areas is supporting the growth of the market. Continued innovation, support by government authorities, and evolving consumer preferences are anticipated to drive the India electric two-wheeler market in the coming years, playing a vital role in transforming the mobility landscape.

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India Electric Two-Wheeler Market 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:

• ❤ 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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