India Electric two-wheeler market is estimated to grow at a considerable CAGR during the forecast period. The increasing government initiatives and subsidies along with increasing urbanization is the key factor to propel the growth of the electric-two wheelers market in India. In 2018, the Indian government had confirmed subsidies related to all types of electric vehicles. In 2015, the government of India had adopted the faster adoption and manufacturing of hybrid and EV (FAME) scheme with an outlay of $130 million, to provide subsidies for electric 2- and 3-wheelers, hybrid and e-cars, and buses. The adoption of such a scheme by the Indian government is anticipated to promote the adoption of electric two-wheelers in the country. However, the comparatively poor performance of electric vehicles for Indian roads in comparison to conventional fuel operated vehicles is a major factor that may hinder the growth of the Indian electric two-wheelers market.

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The market is segmented on the basis of product type and battery type. Based on the product type, the market is sub-segmented into scooters and motorcycles. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. The decline in cost of li-ion battery and inherent benefits offered by these batteries including smaller size, lighter weight, and higher energy density is anticipated to drive the market share of these batteries.

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India Electric Two-Wheeler Market Segmentation

By Product Type

Scooter

Motorcycle

By Battery Type

NiMH

Li-ion

Others

Company Profiles

Ather Energy Private Ltd.

AVERA New & Renewable Energy Moto Corp Tech Pvt., Ltd.

Avon Cycles Ltd.

Hero Electric Vehicles Pvt. Ltd.

Lohia Auto Industries

Okinawa Autotech Pvt. Ltd.

Tork Motors

TWENTY TWO MOTORS PVT. LTD.

Yadea Technology Group Co., Ltd

YObykes

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