DUBLIN–(BUSINESS WIRE)–The “India Electric Scooter and Motorcycle Market Research Report: By Product, Battery Type, Voltage, Technology, Maximum Speed, Sales Channel, Application, State – Industry Analysis and Growth Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The Indian electric scooter and motorcycle market would reach a sales volume of 1,080.5 thousand by the end of 2025, exhibiting a CAGR of 57.9% between 2020 and 2025.
Due to the rising pollution and the increasing provision of financial incentives by the government, the sales of electric scooters and motorcycles are booming in India. In 2019, nearly 152.0 thousand units of electric motorcycles and scooters were sold in the country, registering a 20.6% growth annually from 2014.
In terms of retail sales value, the market is predicted to advance at a CAGR of 63.9% from 2020 to 2025 and attain a revenue of more than $1.0 billion in 2025. A key factor fueling the growth of the market is the provision of lucrative financial incentives and subsidies on electric vehicles by the government. Moreover, the government is also providing tax exemptions and purchase rebates for promoting the utilization of electric vehicles and two-wheelers in the country.
The ballooning sales of these scooters would be driven by the availability of a wide array of electric scooter models in the country, their affordable prices, and their ability to serve as excellent alternatives to the traditional fossil fuel-powered mopeds. According to the publisher, a market research company based in India, the Indian electric scooter and motorcycle market is currently demonstrating the highest growth in Uttar Pradesh out of all the states in the country.
The surge of the market in Uttar Pradesh is caused by the increasing penetration of electric motorcycles and scooters in the state. Moreover, these two-wheelers are registering soaring sales in the tier 2 and tier 3 cities of the state. Because of the rising demand for these vehicles in the state, many original equipment manufacturers (OEMs) are rapidly increasing their dealer network. This is, in turn, pushing up the sales of electric motorcycles and scooters in the state.
Hence, it can be safely said that the market will exhibit rapid growth in the coming years, mainly because of the rising implementation of favorable government policies regarding the sales of electric vehicles and the increasing consumer preference for electric scooters and motorcycles over their fuel-based variants in the country.
- Growing investment in electric two-wheeler space
- Growing e-retailing of electric two wheelers
- OEMs are launching high speed models
- Stringent emission norms
- Government subsidy and regulatory policies
- Rising environmental awareness
- Falling Li-ion battery price
- Li-ion battery development and planned set up of battery manufacturing units
- Entry of established two-wheeler manufacturers and new product launch
- Impact analysis of drivers on market forecast
- Lack of awareness and customers perception about electric two-wheelers
- Lack of charging infrastructure and range anxiety
- High upfront and battery replacement cost
- Impact analysis of restraints on market forecast
- Growing moto taxi and scooter sharing business
- Growing demand for last-mile delivery options
- Long-range electric scooters and motorcycles to gain traction
- Li-ion powered two-wheelers gaining momentum
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Market Indicators
Chapter 4. Executive Summary
Chapter 5. Introduction
Chapter 6. Impact of COVID-19 on India Electric Scooters and Motorcycles Market
Chapter 7. Regulatory Policies
Chapter 8. Market Size and Forecast
Chapter 9. Uttar Pradesh Market Size and Forecast
Chapter 10. Maharashtra Market Size and Forecast
Chapter 11. West Bengal Market Size and Forecast
Chapter 12. Gujarat Market Size and Forecast
Chapter 13. Tamil Nadu Market Size and Forecast
Chapter 14. Delhi Market Size and Forecast
Chapter 15. Rajasthan Market Size and Forecast
Chapter 16. Karnataka Market Size and Forecast
Chapter 17. Haryana Market Size and Forecast
Chapter 18. Madhya Pradesh Market Size and Forecast
Chapter 19. Rest of India Market Size and Forecast
Chapter 20. Electric Scooter and Motorcycle Customer Analysis
Chapter 21. Competitive Landscape
Chapter 22. Aftermarket Analysis
Chapter 23. Cost Analysis
Chapter 24. Company Profiles
- Hero Electric Vehicles Pvt. Ltd.
- Electrotherm (India) Ltd.
- Avon Cycles Ltd.
- LOHIA AUTO INDUSTRIES
- Okinawa Autotech Pvt. Ltd.
- TVS Motor Co. Ltd.
- TWENTY TWO MOTORS PVT. LTD. (22 KYMCO)
- Bajaj Auto Ltd.
- Ather Energy Pvt. Ltd.
- Ampere Vehicles Pvt. Ltd. (Greaves Cotton Ltd.)
- Tunwal E-Vehicle India Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/b78xvt