Indian Electric Scooters and Motorcycles Market Research Report

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India Electric Scooters and Motorcycles Market
Size, Trends, Growth Opportunities post after
COVID19 Outbreak
The Indian electric scooters and motorcycles
market is predicted to generate a revenue of
698.3 million by 2025, progressing at a 36.3
CAGR during the forecast period. The increasing
concerns toward greenhouse gas emissions (GHG),
leading to various government initiatives and the
formulation of strict emission regulations, are
some of the key factors responsible for the
growth of the market. In addition, the entrance
of new and existence of established
manufacturers, as well as the introduction of
various new variants of electric scooters, are
projected to augment the market growth during the
forecast period. Based on battery type, the
Indian electric scooters and motorcycles market
is bifurcated into lithium- ion (Li-ion) and
sealed lead acid (SLA). Of these, the sealed lead
acid battery bifurcation led the market of
two-wheelers in India in terms of sales
volume. This is attributed to the fact that SLA
batteries are comparatively lower priced than
Li-ion batteries. However, in recent years,
Li-ion batteries costs have fallen rapidly,
helping the segment grow at a significant
pace. Additionally, government support for
Li-ion battery-based electric scooters under the
Faster Adoption and Manufacturing of (Hybrid
and) Electric Vehicles (FAME II) scheme is also
predicted to benefit the category during the
forecast period. The Indian government is
strengthening the electric vehicles market by
offering subsidies on their purchase. These
subsidies have also aided the Indian electric
scooters and motorcycles market by making
electric two-wheelers more affordable for
customers. Under the Fame II scheme, the
government has introduced a subsidy of up to 369
on the purchase of electric two-wheelers, on the
basis of battery size. This is making electric
two-wheelers more reasonable for customers,
which is further driving the growth of the Indian
electric scooters and motorcycles market. In
India, while the majority of the electric
scooters and motorcycles are powered by SLA
batteries, the share of Li-ion batteries is
predicted to surge owing to their reducing prices
and more benefits compared to lead acid
ones. Make Enquiry the Report_at_
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iry-urlindia- electric-scooter-and-motorcycle-ma
rket
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Each SLA battery consists of 1020 kg of lead,
which is an extremely toxic substance. The sealed
lead acid batteries have a lower density than
the Li-ion batteries, making the latter efficient
and lighter. In addition, Li-ion batteries have
a longer life span (over 2,000 charge cycles)
than SLA batteries (maximum 400 charges).
Furthermore, during the forecast period, the
decreasing price of Li-ion batteries is expected
to help increase their consumption in the
electric scooters and motorcycles market. Hero
Electric Vehicles Pvt. Ltd., Lohia Auto
Industries, and Electrotherm (India) Ltd. are
some of the key players operating in the market.