India Electric Scooter and Motorcycle Market

India Electric Scooter and Motorcycle Market Overview

Electric scooter and motorcycle refer to the plug-in electric vehicle having two or three wheels. These vehicles store the electricity in a rechargeable battery, which is used to drive one or more electric motors. There are basically two types of rechargeable batteries used in the electric scooter: lead or lithium batteries. With the advent of technologies, electric scooters are gaining traction as compared to the standard scooters over the past decade.

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Major India Electric Scooter and Motorcycle Market Drivers

India electric scooter and motorcycle market is anticipated to witness an upsurge in demand during the forecast period. This is mainly due to the increasing emphasis of the Indian government to support the adoption of electric vehicles in the country in order to reduce carbon emission. The government reduced GST on electric vehicles from 12% to 5% in July 2019 to encourage individuals to opt for electric vehicles rather than using petrol and diesel cars for personal traveling. Additionally, the increasing trend of using e-mobility for short distance travelling is another factor that is surging the growth of the market in the coming years.

India is one of the largest carbon emitting country across the globe, amounting to approximately 6% of the India CO2 emission generated from combustion of fuel. Moreover, with the hectic lifestyle and increasing traffic on roads, people in the smart cities are looking for convenient travelling options to save their time and money. This factor has motivated individuals to opt for electric scooter and motorcycle in order to avoid waiting in long traffic jams. In addition to this, to regulate the pollution emitted by vehicles, the government has launched numerous financial incentives to the buyers of electric vehicles. Thus, the increasing focus on supporting the adoption of EV in the country, will have a positive influence on the market growth. On the other hand, the poor performance of the electric vehicles and the shortage of charging infrastructure in India, are the two major factors that will hinder the growth of the market.

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On the basis of vehicle type, the e-motorcycle segment is predicted to grow at a faster CAGR over the forecast period. This is attributed to the strong demand for e-motorcycles for numerous applications such as racing, off-roading, cursing, and daily commuting. With the increasing pollution level and traffic in India, people are increasingly opting for e-scooters/mopeds for short-distance traveling such as for weekly grocery purchase or for visiting nearby market. This is one of the significant factors that is contributing to the growth of the segment in the market.

Based on the battery type, the sealed lead acid segment is expected to witness higher CAGR over the next six years due to its lower cost as compared to the other conventional batteries. On the other hand, the lithium-Ion segment is projected to lead the market during the forecast period. This is mainly due to the growing consumer awareness related to the numerous remarkable advantages provided by this type of batteries which include higher density, highly efficient, light in weight, and have a longer life span.

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 Key Developments:

• • In 2020, KTM AG entered into a partnership with Bajaj Auto with an aim to manufacture mopeds and electric scooters in India. This is a part of the KTM AG’s product strategy for domestic and overseas market.
  • In 2020, Hero Electric Vehicles Pvt. Ltd., invested USD 11 million in a Bangalore-based electric scooter start called, “Ather Energy”. Through this expansion, the company aims to increase their footprint in the electric vehicle market in India.

Segments covered in the Report:

The India Electric Scooter and Motorcycle market have been segmented on the basis of Vehicle Type, Battery Type, Technology Type, Distance Covered, Voltage Type. Based on Vehicle Type, the market is segmented into E-Scooter/Moped and E-Motorcycle. Based on Battery Type, the market is segmented into Sealed Lead Acid and Lithium-Ion. Based on Technology Type, the market is segmented into Plug-In and Battery. Based on Distance Covered, the market is segmented into Below 75 Miles, 75–100 Miles and Above 100 Miles. Based on Voltage Type, the market is segmented into 36V, 48V, 60V and 72V.

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Market Segmentation

India Electric Scooter and Motorcycle Market by Vehicle Type

• • E-Scooter/Moped
  • E-Motorcycle

India Electric Scooter and Motorcycle Market by Battery Type

• • Sealed Lead Acid
  • Lithium-Ion

India Electric Scooter and Motorcycle Market by Technology Type

• • Plug-In
  • Battery

India Electric Scooter and Motorcycle Market by Distance Covered

• • Below 75 Miles
  • 75–100 Miles
  • Above 100 Miles

India Electric Scooter and Motorcycle Market by Voltage Type

• • 36V
  • 48V
  • 60V
  • 72V