Emphasis on Vehicle Type (E-Scooter/Moped, E-Motorcycle); Speed (Low Speed E2W, High Speed E2W); Technology (Battery E2W, Plug-in E2W); End-User (Business to Consumer (B2C), Business to Business (B2B)); Regions
The India E2W Market was valued at approximately USD 1.5 Billion in 2023 and is expected to grow at a robust CAGR of around 40.34% during the forecast period (2024-2032) owing to the rising urbanization, affordability, increasing disposable income, and the shift towards electric mobility.
The electric two-wheeler market in India is set to grow at a constant rate because of support from the government and increased concern towards global warming, and to fulfill the demand for mini scooters for daily use. For example, the FAME scheme offers subsidies, and thus E2Ws have become more affordable in recent times, whereas companies like Ola Electric and Hero Electric have a major share in the scooter market. Some issues such as inadequate charging points and high costs of acquisition are some barriers, yet the improvement in batteries and battery replacement services accelerates the use. The E2W market will have a significant impact on changing the structure of urban mobility as India progresses toward sustainable transport.
This section discusses the key market trends influencing the India E2W segments as identified by our research experts.
E-Scooter/Moped Vehicle Type Transforming Industry
The growth of e-scooters and mopeds in India’s electric two-wheeler market is driven by a combination of government incentives that reduce upfront costs, the cost-effectiveness of electric vehicles in terms of lower operating and maintenance expenses and increasing environmental awareness prompting a shift towards cleaner transport solutions. Urban congestion further boosts their appeal due to their maneuverability in traffic, while expanding charging infrastructure and advancements in battery technology alleviate range anxiety and enhance reliability. These factors collectively contribute to the rising popularity and adoption of e-scooters and mopeds across India.
North India Dominated the Market in 2023
The growth of the electric two-wheeler (E2W) market in North India is fueled by government incentives and policies that make E2Ws more affordable, rising urban pollution that drives the demand for cleaner transport, and increasing fuel prices that highlight the cost-effectiveness of electric vehicles. Additionally, improving infrastructure such as charging networks and battery-swapping stations, combined with rising disposable income, further supports the market’s expansion. These factors collectively contribute to the increasing adoption of E2Ws in North India, reflecting a shift towards more sustainable and economically efficient transportation solutions.
India E2W is competitive, with several Indian and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Hero Electric, Okinawa, Ather Energy, Ampere Vehicles, Revolt, PureEV, Ola Electric Mobility, Kinetic Green, Evolet, and TVS.
For instance, in 2024, Electric scooter maker Ather Energy launched a new range of scooters focused at the family market called Rizta.
For instance, Honda Global has confirmed plans to launch an electric motorcycle equivalent to 110-125 cc commuters in India next year. The announcement was a part of Honda Motor Co’s new motorcycle electrification strategy, which will see the manufacturer invest $3.4 billion by 2030 on new products and development. The two-wheeler giant also revised its global sales target from 3.5 million to 4 million electric motorcycles by 2030.
India E2W can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. India E2w Market Revenue (usd Bn), 2022-2032f
7. Market Insights By Vehicle Type
8. Market Insights By Speed
9. Market Insights By Technology
10. Market Insights By End-user
11. Market Insights By Region
12. Value Chain Analysis
13. Competitive Landscape
14. Company Profiled
15. Acronyms & Assumption
16. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the India E2W market were the three major steps undertaken to create and analyze the adoption of India E2W in major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were taken into consideration to validate these insights. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the India E2W market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the India E2W market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of India E2W, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as vehicle type, speed, technology, end users, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the India E2W market. Further, we conducted factor analysis using dependent and independent variables such as vehicle type, speed, technology, end users, and India E2W regions. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the India E2W market sector across the globe.
Current Market Sizing: Based on actionable insights from the above three steps, we arrived at the current market size, key players in the India E2W market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the India E2W. Data was split into several segments and sub-segments after studying various parameters and trends in the vehicle type, speed, technology, end users, and regions of the India E2W market.
The current & future market trends of the India E2W were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is India E2W current size and growth potential?
Q2: What are the driving factors for the growth of India E2W?
Q3: Which segment has the largest share of the India E2W by Vehicle Type?
Q4: What are the emerging technologies and trends in India E2W?
Q5: Which region will dominate the India E2W Market?
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