Press Release

India Electric Two Wheeler Market to Witness 25% CAGR through 2026

Growing consumer interest towards environmentally friendly vehicles coupled with consumer friendly electric vehicle adoption policy is fueling India electric two-wheeler market

According to TechSci Research report, India Electric Two-Wheeler Market By Vehicle Type, By Battery Capacity, By Battery Type, Competition, Forecast & Opportunities, FY2016 - FY2026F”, India electric two-wheeler market stood around 152 thousand units in FY 2020 and the market is forecast to grow at a CAGR of more than 25% during FY 2021 – FY 2026. Growth in the country’s electric two-wheeler market is led by rising concerns about vehicular pollution and increasing government support through several initiatives and schemes such as FAME India scheme, which supports faster adoption of electric two-wheelers across the country. Additionally, increasing R&D focus by leading companies to develop technologically advanced products to attract consumers towards electric two-wheelers in an affordable price range is further anticipated to boost sales of electric two-wheelers across the country during the forecast period. However, lack of technical awareness and high procurement cost is hampering the growth of electric two-wheeler market in India.

Browse over 36 market data Figures spread through 80 Pages and an in-depth TOC on "India Electric Two-Wheeler Market"

 

India electric two-wheeler market is segmented based on battery type, vehicle type, by voltage capacity, by region. In terms of battery type, the market is segmented into Lithium-Ion and Lead Acid. In recent times, Lead Acid battery has been dominating the market and the segment will continue to dominate the market during the forecast period as well. However, the share of Li-ion battery is expected to rise at a swift pace owing to their high energy density, lower power loss and government launch of FAME II policy, which supports the use of Lithium-Ion battery in electric two-wheeler.

On the basis of vehicle type, electric two-wheelers market is broadly segmented into two categories, namely scooter and motorcycle. In FY 2020, scooters dominated the country’s electric two-wheeler market with more than 95% market share. It is expected that scooter segment will continue its dominance in India electric two-wheeler market during forecast period as well. The main factors boosting adoption of electric scooters in India include benefits on price, design and registration procedure and low maintenance cost as compared to motorcycles and petrol fueled scooters.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=1668

Customers can also request for 10% free customization on this report.

On the basis of voltage capacity, the market is segregated into 48-59V, 60-72V, 73-96V, Above 96V. As of FY 2020, the market is largely dominated by 48-59V, but it is expected that due to the growing demand for performance oriented electric scooters and electric motorcycles in near future the market will be dominated by 60-72V by FY 2026. In terms of regional analysis, the market can be segmented into North, West, South and East. Among these regions, North region dominates India electric two-wheeler market with more than 30% value share in FY 2020, followed by the country’s West region. Hero Electric, Okinawa Autotech Pvt. Ltd, Ampere Vehicles, Electrotherm India (YO Bikes), among others are some of the leading electric two-wheeler manufacturers across the country.

“Demand for electric two-wheelers in India has been growing over the past few years, owing to the constant efforts by the government to emphasize on the need for clean vehicles due to deteriorating air quality. To support its efforts, the government has been providing incentives on purchase of electric two-wheelers, owing to various environmental benefits associated with such vehicles. Moreover, with an increasing number of consumers aligning towards electric two-wheelers, coupled with many ongoing research and development projects in pipeline by the major players for developing highly efficient electric two wheelers, the sales of electric two-wheelers are projected to grow at a robust pace in India in the coming years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Electric Two-Wheeler Market By Vehicle Type, By Battery Capacity, By Battery Type, Competition, Forecast & Opportunities, FY2016 - FY2026F” has evaluated the future growth potential of India electric two-wheeler market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India electric two-wheeler market.

Press Release : https://www.techsciresearch.com/news/7681-india-electric-two-wheeler-market.html


About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

 

Email: [email protected]


Web:  https://www.techsciresearch.com