India Electric Two-Wheeler Market

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India Electric Two-Wheeler Market
The Indian electric two-wheeler market is
predicted to grow at 44.0 CAGR during the
forecast period with its fleet size reaching
633.9 thousand units by 2024. The Indian market
is driven largely by the vast population and the
regulations of supportive government. With
rising per capita revenue, increasing awareness
of the reduction of automotive emissions and the
growth of smart cities, the industry has
experienced substantial demand for these goods
in recent years.
By product, the market is categorized into
e-scooters, e-bikes, e-motorcycles, and others.
E- scooters hold the largest share in the Indian
market, in terms of revenue as well as fleet
size. By battery type, the market is segmented
into sealed lead acid, Li-ion, and NiMH. Sealed
lead acid is the most common type of battery used
in the electric two-wheelers in India. By battery
technology, the market is categorized into
removable battery and non-removable battery.
Non-removable batteries are majorly used in the
market as it is convenient for electric
two-wheelers to plugin and charge batteries
instead of removing and charging indoors. By
voltage, the market is segmented into 24V, 36V,
48V, 60V, 72V. 48V electric two-wheeler holds
the largest share in the Indian electric
two-wheeler market, followed by 36V two-
wheelers. The main factors driving the growth of
the two-wheeler electricity industry in India are
growing government policies and increasing
urbanisation.
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The high battery and thus electric vehicle
prices, however, and the comparatively poor
performance of electric vehicles on Indian roads
compared to traditional fuel-operated vehicles,
are the key factors hindering the development of
the Indian two-wheeler electricity
market. Market players in the Indian electric
two-wheeler industry are investing huge capital
for capacity expansion in order to cater to
rising demand. Recent News Feb 2018, Hero
Electric announced to invest INR 700 crore (USD
109 million) for capacity expansion in the
coming three to four years. Competitive
Insights Hero Electric Vehicles Pvt. Ltd.,
Okinawa Autotech Pvt. Ltd., Ather Energy, Spero
Electric, Lohia Auto Industries, and Yadea
Technology Group are some of the key players
operating in the Indian electric two-wheelers
market.
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