In FY 2020, India electric
two-wheeler market stood around 152 thousand units in volume terms and is forecast
to grow at a CAGR of around 25% during FY 2021 – FY 2026. Government of India is
continuously emphasising on increasing the sales of clean energy vehicles in the
country. According to WHO, air pollution is the becoming one of the leading causes
of death in developing countries with deteriorating air quality. As a result of
which, the county’s government is offering subsidies on the purchase of electric
two-wheeler by introducing schemes like Fame-1 and Fame-2. Furthermore, low
speed electric two-wheeler does not require any registration from transport
authority of the country, which is anticipated to positively influence the
growth in the India electric two-wheeler market during the forecast period.
India electric two-wheeler market
can be classified on the basis of battery type, vehicle type, voltage capacity
and by region. Based on the battery type, the market can be segmented into Lithium-Ion
and Lead Acid. Lead Acid accounted for the largest share and the segment will
continue to dominate during the forecast period as well. However, the
penetration of Lithium-Ion segment is also expected to increase at a rapid pace
in the coming years.
In terms of vehicle type, the
market has been segmented into electric scooter and electric motorcycle. Electric
scooter segment is dominating the electric two-wheeler market across the
country and this trend is expected to continue over the course of next five
years. Major players operating in India electric two-wheeler market include Hero Electric, Okinawa Autotech Pvt. Ltd, Ampere Vehicles, Electrotherm
India (Yo Bikes), among others.
Years
considered for this report:
Historical Period: FY2016 - FY2019
Base Year: FY2020
Estimated Year: FY2021
Forecast Period: FY2022 - FY2026
Objective of the Study:
- To assess the demand-supply scenario of electric
two-wheeler, which covers production, demand and supply of electric
two-wheelers, across India.
- To analyze and forecast the market size of India electric
two-wheeler market.
- To classify and forecast India electric
two-wheeler market based on battery type, vehicle type, voltage capacity,
and regional distribution.
- To identify drivers and challenges for India electric
two-wheeler market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in India
electric two-wheeler Market.
- To conduct the pricing analysis for India electric
two-wheeler Market.
- To identify and analyze the profile of leading
players involved in the manufacturing of India electric two-wheeler Market.
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To perform the study,
TechSci Research conducted primary as well as exhaustive secondary research. Initially,
TechSci Research prepared an exhaustive list of electric two-wheeler players operating in India. Subsequently,
TechSci Research conducted primary research surveys, which include primary
calls, email responses, etc., with the identified companies. While
interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers
which could not be identified due to the limitations of secondary research.
TechSci Research analysed product offerings and regional presence of all major electric
two-wheeler suppliers across the globe.
TechSci Research calculated the market
size for India electric
two-wheeler by using a
bottom-up technique, wherein manufacturers’ volume sales data for different applications,
was recorded as well as forecast for the
future years. TechSci
Research sourced these values from industry experts and company representatives,
and externally validated through analysing historical sales data of respective manufacturers
to arrive at the overall market size. Multiple secondary sources such as directories,
company websites, company annual reports, white papers, investor presentations
and financial reports were also studied by TechSci Research.
Key Target Audience:
·
Electric two-wheeler manufacturers, suppliers,
distributors and other stakeholders
·
Associations, organizations, forums and alliances
related to electric two-wheeler
·
Government bodies such as regulating authorities
and policy makers
·
Market research and consulting firms
The study is useful in providing
answers to several critical questions that are important for industry
stakeholders such as electric two-wheeler manufacturers, customers and policy
makers. The study would also help them to target
the growing segments over the coming years, thereby aiding the stakeholders in taking
investment decisions and facilitating their expansion.
Report Scope:
In this report, India electric
two-wheeler market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
- India electric two-wheeler Market, By Vehicle Type:
- Electric
Scooter
- Electric
Motorcycle
- India electric two-wheeler Market, By Battery Type:
- India electric two-wheeler Market, By Voltage Capacity:
o 48-59V
o 60-72V
o 73-96V
o Above 96V
- India electric two-wheeler Market, by
Region:
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in Electric two-wheeler.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed
analysis and profiling of additional market players (up to five).
Profit Margin Analysis
- Profit
margin analysis in case of direct and indirect sales channel.