India Electric Two-Wheeler Market Size 2028: Projected Growth and Opportunities | Techsci ResearchPosted by Kumar on April 25th, 2023 According to the TechSci Research report titled "India Electric Two-Wheeler Market - Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028F," the market for electric two-wheelers in India is projected to reach USD 1,028.04 million by 2028, with a CAGR of 29.07%, owing to the rapid adoption and technological advancements in electric vehicles. The surge in the demand for electric two-wheelers in the country can be attributed to the rising per capita income, which has increased the purchasing power, as well as the growing concerns over the pollution generated by ICE vehicles. The government's provision of subsidies under FAME II and state EV policies has further accelerated the adoption of electric two-wheelers across the country. Leading companies and emerging players' increasing focus on R&D to develop advanced technology and features while maintaining an affordable price range is expected to attract more customers and drive the sales of electric two-wheelers. Electric vehicles offer several benefits such as lower maintenance and service costs, lower operating costs, and reduced carbon emissions, which can help India reduce its reliance on oil and air pollution. The growth of the electric two-wheeler market is also fueled by the high cost of fossil fuels, growing preference for personal mobility, enhanced charging infrastructure, EV financing options, and incentives under government schemes. However, the lack of charging infrastructure, lack of awareness, and high initial costs are hindering the growth of the electric two-wheeler market in India. Browse more than 24 market data Figures spread through 70 Pages and an in-depth TOC on "India Electric Two-Wheeler Market"- https://www.techsciresearch.com/report/india-electric-two-wheeler-market/1668.html The COVID-19 pandemic had a significant impact on production and supply chain, resulting in a shortage of auto components and reduced two-wheeler production. The high cost of electric vehicles compared to traditional cars and lengthy charging durations are some of the reasons hindering the adoption of EVs. Nonetheless, to achieve zero emissions and green energy, the market is witnessing more investment and cooperation. Sales of electric two-wheelers have increased in 2022 and are expected to grow at a CAGR of 27.62% in terms of volume through 2028. India electric two-wheeler market can be segmented on the basis of vehicle type, battery type, voltage capacity, battery capacity, range, region and company. On the basis of vehicle type, currently, electric scooter/moped segment dominates the India electric two-wheeler market with a majority of market share. However, the motorcycle segment is expected to grow at 47.72% CAGR by 2028. On the basis of battery type, Lithium-ion battery dominates the India electric two-wheeler market with more than 90% of the total market share due to many emerging players with their advanced technology, which offers zero-emission, high battery capacity and high overall performance. It has been forecast that the same trend will continue in forthcoming years. On the basis of voltage capacity, the 48-59 v category dominates with nearly 70% of the total India electric two-wheeler market share. This is mainly to keep prices of electric two-wheelers competitive and affordable as per the Indian market. On the basis of battery capacity, the <2 KWh segment is leading the market, followed by the 2-2.5 KWh segment. On the basis of vehicle range per charge, the 50-100 km segment gets the highest share, followed by the 101-150 km segment. Some of the major companies operating in India Electric Two-Wheeler Market include:
Download Sample Report- https://www.techsciresearch.com/sample-report.aspx?cid=1668 “Many companies are investing in advanced technological research and development, which increases performance per charge, decreases charging time, and improves infrastructure for charging stations, making electric two-wheelers more acceptable to people.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. “India Electric Two-Wheeler Market By Vehicle Type (Scooter/Moped, Motorcycle), By Battery Type (Lithium-Ion, Lead Acid), By Voltage Capacity (48-59 V, 60-72 V, 73-96 V), 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, Forecast & Opportunities, 2028” has evaluated the future growth potential of India 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 take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India Electric Two-Wheeler Market. Download Sample Report- https://www.techsciresearch.com/sample-report.aspx?cid=1668 Like it? Share it! More by this author |