India Electric Two-Wheeler Market Size & Share Analysis - Growth Trends & Forecasts (2024-2033)

Vehicles with an electric battery that powers them are known as electric two-wheelers. Electric batteries supply the electricity. These days, rechargeable batteries power the majority of electric two-wheelers. The electric scooters' runtime is extended by these rechargeable batteries. Early versions of these electric two-wheelers were equipped with nickel-metal hydride batteries. However, the newest models of electric scooters are all equipped with lithium ion batteries. More than twice as long as the previous generation, these batteries last. However, in addition to these batteries, substitute batteries such as lead acid and sodium silicate batteries can also be utilized.

According to SPER Market Research, ‘India Electric Two-Wheeler market size By Type, By Battery Type, By Voltage- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the India Electric Two-Wheeler market is estimated to reach USD XX billion by 2032 with a CAGR of XX%.

The swift adoption of electric vehicles (EVs) and ongoing technology developments that improve the efficiency and appeal of EVs are the main factors driving the electric vehicle sector's exponential expansion. The demand for electric two-wheelers is driven by rising per capita income and worries about rising pollution levels from Internal Combustion Engine (ICE) cars. Because they emit fewer carbon emissions and less air pollution, electric two-wheelers are better for the environment. The development of an improved charging infrastructure, government incentives, and EV financing alternatives all play a major role in the rise in sales of electric two-wheelers in India.

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Notwithstanding the encouraging outlook, obstacles continue to exist, impeding the swift expansion of the electric two-wheeler industry in India. A major obstacle to the expansion of the electric vehicle (EV) sector in India is the inadequate infrastructure for charging EVs. The lack of charging stations makes it more difficult for EVs to become widely adopted since it raises concerns among prospective customers regarding the accessibility and availability of charging stations. Inadequate infrastructure for charging electric two-wheelers limits their viability and convenience and prevents their widespread adoption. Adoption is hampered by customers' ignorance of the advantages of Electronic Vehicles and their comparatively higher initial prices.

The COVID-19 epidemic has had a major effect on India's market for electric two-wheelers. The lockdowns and restrictions imposed to stem the virus's spread had an effect on the manufacture and availability of electric two-wheelers. The production processes, supplier chains, and overall corporate operations were all affected by these actions. The economic instability and financial troubles caused by the epidemic also had an impact on consumer behavior, which hindered the adoption of electric vehicles, especially two-wheelers.

The growth and adoption of electric vehicles (EVs) in India are greatly influenced by South India, which is a key player in the market steering process. The region, which includes states like Kerala, Tamil Nadu, Telangana, Andhra Pradesh, and Karnataka, has become a major center for EV development, production, and research. Furthermore, important participants in the industry are drawn to cities like Bengaluru, Chennai, and Hyderabad, which have developed into hubs for EV production facilities and innovation centers. The states of South India have fostered an atmosphere that is favorable to the adoption of electric vehicles through their progressive legislation and proactive actions. Some of the key players are- OLA Electric, TVS, Ather Energy, Bajaj, Ampere Greaves, Okinawa, Hero Electric, BGauss, Others.

India Electric Two-Wheeler Market Segmentation:

By Type: