India Electric Scooter and Motorcycle Market is Expected to Reach $1,043.4 million by 2025

October 19 12:01 2020
India Electric Scooter and Motorcycle Market is Expected to Reach $1,043.4 million by 2025
Stringent Emission Norms To Cause 57.9% Sales Volume Explosion in Indian Electric Scooter and Motorcycle Market during 2020–2025.

The sales volume of the Indian electric scooter and motorcycle market is expected to massively increase from 152.0 thousand units in 2019 to 1,080.5 thousand units in 2025, at a 57.9% CAGR between 2020 and 2025. As per IQAir, India was home to 21 of the 30 most polluted cities in the world in 2019, a fact which is mirrored by the World Health Organization (WHO)’s findings that out of the 20 most polluted cities in the world, 14 were in India in 2018.

As a result of the surging pollution, the national government has launched stringent policies to curb vehicular emissions. In particular, the jump from Bharat Stage V (BSV) to BSVI emission standards is expected to benefit the Indian electric scooter and motorcycle market, by raising the prices of petrol-driven two-wheelers by 7­–15%. From 1st April, 2020 onward, automakers are only allowed to sell BSVI-compliant vehicles in the nation, which is driving the push toward electric variants.

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In the years to come, the motorcycle bifurcation, on the basis of product, is predicted to witness rapid advance in the Indian electric scooter and motorcycle market, with the launching of several models by automakers. Due to the increasing demand for higher power, speed, and driving range from electric two-wheelers, the uptake of motorcycles will grow.

The sealed lead–acid (SLA) bifurcation, based on battery type, will continue dominating the electric scooter and motorcycle market of India in the coming years. This is because these batteries are cost-effective and easily available and the demand for low-speed electric two-wheelers is expected to remain substantially high.

Till 2025, the 72 V category, under segmentation by voltage, would experience the highest volume CAGR in the Indian electric scooter and motorcycle market, of 80.5%. This would be a result of the better mileage and performance that these batteries impart to vehicles.

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The most significant players in the Indian electric scooter and motorcycle market are Electrotherm (India) Ltd., Hero Electric Vehicles Pvt. Ltd., LOHIA AUTO INDUSTRIES, Avon Cycles Ltd., TVS Motor Co. Ltd., Okinawa Autotech Pvt. Ltd., Bajaj Auto Ltd., TWENTY TWO MOTORS PVT. LTD. (22 KYMCO), Ampere Vehicles Pvt. Ltd. (Greaves Cotton Ltd.), Ather Energy Pvt. Ltd., and Tunwal E-Vehicle India Pvt. Ltd.

Market Size Breakdown by Segment

By Product

  • Scooter
  • Motorcycle

By Battery Type

  • Sealed Lead Acid
  • Lithium-Ion (Li-Ion)

By Voltage

  • 36 V
  • 48 V
  • 60 V
  • 72 V and others

By Technology

  • Removable
  • Non-Removable

By Maximum Speed

  • 25–50 km/h
  • >50 km/h

By Sales Channel

  • Online
  • Offline

By Application

  • Business-to-Business (B2B)
    • Shared mobility
    • Last-mile logistics
  • Business-to-Customer (B2C)

By State

  • Uttar Pradesh
  • Maharashtra
  • West Bengal
  • Madhya Pradesh
  • Gujarat
  • Tamil Nadu
  • Delhi
  • Rajasthan
  • Karnataka
  • Haryana
  • Rest of India

Browse More Report

North America Electric Scooters and Motorcycles Market – https://www.psmarketresearch.com/market-analysis/north-america-electric-scooters-and-motorcycles-market

 

Europe Electric Scooters and Motorcycles Market – https://www.psmarketresearch.com/market-analysis/europe-electric-scooters-and-motorcycles-market

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