India Electric Two-Wheeler market is expected to grow at a CAGR of 32.70% through 2030
The rise of electric two-wheelers in India, driven by government incentives, environmental awareness, and the demand for cost-effective urban mobility solutions, is accelerating market growth.
According to TechSci Research report, “India Electric Two-Wheeler
Market – By Region, Competition, Opportunities & Forecast, 2020-2030F”,
The India Electric Two-Wheeler market was valued at USD 621.11 Million in 2024 and is expected to reach USD 3391.52 Million by 2030 with a CAGR of 32.70%
during the forecast period. The India electric two-wheeler market is expanding
due to strong government support for clean mobility, rising fuel costs pushing
consumers towards affordable options. The demand is also fueled by the increasing
adoption of electric vehicles in logistics and e-commerce sectors, with
companies focusing on reducing their carbon footprint. In addition,
improvements in battery technology, which offer better range and quicker
charging, are making electric two-wheelers more attractive.
The electric two-wheeler market in India is rapidly growing, driven by government incentives, rising fuel costs, and the demand for eco-friendly transportation. Policies like the FAME scheme and subsidies are making electric vehicles more affordable. Urban consumers, facing traffic congestion and high fuel prices, are increasingly opting for electric scooters and bikes as a cost-effective and sustainable solution. Advances in battery technology are further reducing costs and improving efficiency, making electric two-wheelers more accessible.
Key trends shaping the market include a shift towards sustainability, with younger, environmentally-conscious consumers leading the adoption of electric vehicles. Innovations in battery technology, such as faster charging and longer range, are attracting more buyers. Expanding charging infrastructure is making electric two-wheelers more practical, while new startups are introducing a range of models to meet diverse consumer needs, from budget-friendly options to high-performance electric motorcycles.
Challenges still exist, including high upfront costs, especially due to expensive batteries, and limited range for longer-distance travel. While charging infrastructure is expanding, many rural and semi-urban areas remain underserved. However, ongoing advancements in battery technology and infrastructure development present significant growth opportunities, and the market is expected to expand substantially in the coming years as these challenges are addressed.
Browse over XX market data Figures spread through XX Pages and an
in-depth TOC on the "India Electric Two-Wheeler Market"
The India Electric
Two-Wheeler Market is segmented into Vehicle Type, Battery Type, Battery
Capacity Type, Range, and Region.
The Indian electric
two-wheeler market is divided into two main segments based on battery type:
swappable and non-swappable. Swappable battery vehicles feature removable
batteries that can be exchanged at designated stations, addressing concerns
like long charging times and range anxiety. This model is especially popular
for commercial use, such as delivery fleets, where quick turnaround and minimal
downtime are important. Swapping also eliminates the need for home charging
infrastructure, making electric vehicles more accessible in areas with limited
charging options.
Non-swappable battery
vehicles, on the other hand, have fixed batteries that must be charged at home
or through public charging stations. These vehicles typically offer longer
ranges per charge and are favored by consumers who prioritize distance. They are
simpler in design and may be more cost-effective, but charging can take several
hours depending on the battery size and charger type. The growth of public
charging infrastructure is making non-swappable battery vehicles more viable
for everyday use.
Both battery types serve
different market needs. Swappable battery models cater to urban commuters and
commercial users who need convenience and fast recharging, while non-swappable
models appeal to those seeking longer ranges and home charging options. As
charging infrastructure continues to expand, both segments are likely to
coexist, each addressing specific needs within India's growing electric
mobility landscape.
Based on region, In 2024, North India emerged as the fastest-growing market for electric two-wheelers in India,
driven by the rise in last-mile delivery services and the expansion of bike
taxi operations. Growing urbanization, government incentives, and an increasing
preference for cost-effective, eco-friendly transportation are boosting demand
in this region. Additionally, rising fuel prices and a focus on reducing air
pollution are encouraging both individuals and businesses to shift toward
electric two-wheelers. This combination of factors positions North India as a
key player in the country’s electric mobility transformation.
Major market players
operating in India Electric Two-Wheeler market are:
- Hero
Electric Vehicles Pvt. Ltd
- Okinawa
Autotech International Private Limited
- Greaves
Electric Mobility Private Limited
- Ather
Energy Limited
- PuR
Energy Pvt. Ltd
- Ola
Electric Mobility Ltd
- TVS
Motor Company
- Revolt
Intellicorp Private Limited
- BENLING
INDIA ENERGY AND TECHNOLOGY PVT LTD
- Bajaj
Auto Ltd
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"The Indian electric two-wheeler market is witnessing significant
growth, driven by increasing environmental awareness and government incentives.
As infrastructure improves, particularly with the expansion of charging and
battery-swapping stations, both swappable and non-swappable electric vehicles
are gaining traction across urban and rural areas. Looking ahead, the market is
expected to continue evolving, with advancements in battery technology and
greater adoption of electric mobility contributing to a cleaner, more
sustainable transportation ecosystem in India," said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based global management
consulting firm.
“India Electric Two-Wheeler Market By Vehicle Type (Scooter/
Moped, Motorcycle), By Battery Type (Swappable, Non-Swappable), By Battery
Capacity (<2 kWh, 2-2.5 kWh, >2.5 kWh), By Range (<50 km, 50-100 km,
101-150 km, >150 km), By Region, Competition, Opportunities & Forecast, 2020- 2030F”, evaluates the future
growth potential of Indian 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
make sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Indian Electric Two-Wheeler market.
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