The electric bikes market in India encompasses a variety of electric two-wheelers such as electric scooters and motorcycles, which are used mainly for personal mobility in urban settings.
In 2023, the electric bikes market in India was valued at INR 156.92 Bn and is expected to reach INR 412.59 Bn by 2029, expanding at a compound annual growth rate (CAGR) of ~17.58% during the 2024 - 2029 period. The electric bikes market in India includes the production, research and innovation, and acceptance of electric two-wheelers among different consumer categories, such as individual transport, delivery services, and shared mobility.
Technological progress, such as advancements in battery efficiency, charging facilities, and bike designs, is boosting the performance, cost-effectiveness, and range of electric bikes, increasing their attractiveness among Indian buyers.
Favorable Government Initiatives
The National Programme on Advanced Chemistry Cells (ACC) Battery Storage, which received approval in May 2021, along with INR 181 Bn in funding, seeks to improve India's manufacturing prowess in ACC batteries. The program emphasizes domestic value addition, mandating companies to reach 25% value addition at first, aiming for 60% in 5 years, supporting the ‘Make in India’ movement.
In 2023, the electric bikes market in India was valued at INR 156.92 Bn and is expected to reach INR 412.59 Bn by 2029, expanding at a compound annual growth rate (CAGR) of ~17.58% during the 2024 - 2029 period. The electric bikes market in India includes the production, research and innovation, and acceptance of electric two-wheelers among different consumer categories, such as individual transport, delivery services, and shared mobility.
Technological progress, such as advancements in battery efficiency, charging facilities, and bike designs, is boosting the performance, cost-effectiveness, and range of electric bikes, increasing their attractiveness among Indian buyers.
Market drivers:
Rising petrol and diesel prices are pushing consumers to find budget-friendly options for their daily travel, boosting the demand for electric bikes. Electric bikes provide much lower operating costs than conventional fuel-powered motorcycles, making them an appealing choice as fuel prices continue to rise.Market Trends:
E-bike rentals provide a budget-friendly and adaptable transport solution for short trips, appealing to price-sensitive users in city environments. Due to traffic jams and scarce parking in urban areas, shared e-bike services offer a practical, environmentally friendly option for last-mile connections.Favorable Government Initiatives
The National Programme on Advanced Chemistry Cells (ACC) Battery Storage, which received approval in May 2021, along with INR 181 Bn in funding, seeks to improve India's manufacturing prowess in ACC batteries. The program emphasizes domestic value addition, mandating companies to reach 25% value addition at first, aiming for 60% in 5 years, supporting the ‘Make in India’ movement.
Table of Contents
Chapter 1: Executive SummaryChapter 2: Socio-Economic Indicators
Chapter 3: Introduction
Chapter 4: Market Overview
Chapter 5: Market Segmentation
Chapter 6: Market Influencers
Chapter 7: Market Trends
Chapter 8: Government Initiatives
Chapter 9: Trade Analysis
Chapter 10: Competitive Landscape
Chapter 11: Recent Developments
Chapter 12: Upcoming Products
Chapter 13: Appendix
Companies Mentioned
- Bajaj Auto Limited Exide Industries Limited
- Electrotherm (India) Limited
- Ola Electric Mobility Limited
- Tunwal E Motors Limited
- TVS Motor Company Limited
- Wardwizard Innovations & Mobility Limited
- Ather Energy Limited
- Hero Electric Vehicles Private Limited
- Okinawa Autotech Internationall Private Limited
- Tork Motors Private Limited
