Electric Bikes Market in India 2021
India is at the initial stages of making the transition to electric vehicles. Concerns regarding pollution and other environmental issues, along with lower operating costs of electric vehicles in comparison to fuel-drive ones will result in the increased adoption of electric bikes, in turn boosting market growth. With the government encouraging the adoption of electrified vehicles, the electric bikes market in India is expected to grow in the coming years. The cost of running electric bikes is about INR 10 for 70 km, whereas the same distance using conventional variants cost a minimum of INR 102.
In FY 2020, the electric bikes market in India was valued at INR 72.34 Mn. It is expected to expand at a compound annual growth rate (CAGR) of ~11.16% during the 2021 – 2027 period, to reach INR 143.34 Mn by 2027.
Government initiatives:
In February 2018, the Indian government’s policy think tank, Niti Aayog, proposed and mandated the electrification of all two-wheelers with a displacement capacity of below 150cc, by March 2025. With this regulation, the two-wheeler industry will experience a rapid transition toward electric mobility. Further, the government brought great changes in the Department of Heavy Industry in association with the Society of Indian Automobile Manufacturers schemes of 'FAME' and 'FAME II'. Other government initiatives which will promote the adoption of electric bikes include the National Electric Mobility Mission Plan 2020 (NEMMP 2020), the Atmanirbhar Bharat Abhiyan, and the Make in India campaign.
COVID-19 impact analysis:
The nationwide lockdown in the wake of the pandemic will have a long-term positive impact on the electric bikes market in India. The demand for electric bikes increased amid the pandemic because people were apprehensive about traveling using public transport. The growing demand for electric bikes has also been supported by the government’s electrification policy. Moreover, people have started to realize that vehicles with combustion engines cause 60% more pollution than the electrified variants. After the lockdown was lifted, the adoption of electric bikes as a personal mode of transport surged. This growth is likely to continue in the long run as well.
In FY 2020, the electric bikes market in India was valued at INR 72.34 Mn. It is expected to expand at a compound annual growth rate (CAGR) of ~11.16% during the 2021 – 2027 period, to reach INR 143.34 Mn by 2027.
Government initiatives:
In February 2018, the Indian government’s policy think tank, Niti Aayog, proposed and mandated the electrification of all two-wheelers with a displacement capacity of below 150cc, by March 2025. With this regulation, the two-wheeler industry will experience a rapid transition toward electric mobility. Further, the government brought great changes in the Department of Heavy Industry in association with the Society of Indian Automobile Manufacturers schemes of 'FAME' and 'FAME II'. Other government initiatives which will promote the adoption of electric bikes include the National Electric Mobility Mission Plan 2020 (NEMMP 2020), the Atmanirbhar Bharat Abhiyan, and the Make in India campaign.
COVID-19 impact analysis:
The nationwide lockdown in the wake of the pandemic will have a long-term positive impact on the electric bikes market in India. The demand for electric bikes increased amid the pandemic because people were apprehensive about traveling using public transport. The growing demand for electric bikes has also been supported by the government’s electrification policy. Moreover, people have started to realize that vehicles with combustion engines cause 60% more pollution than the electrified variants. After the lockdown was lifted, the adoption of electric bikes as a personal mode of transport surged. This growth is likely to continue in the long run as well.
CHAPTER 1: EXECUTIVE SUMMARY
CHAPTER 2: SOCIO-ECONOMIC INDICATORS
CHAPTER 3: INTRODUCTION
3.1. Market definition and structure
CHAPTER 4: INDIA ELECTRIC BIKES MARKET OVERVIEW
4.1. Market size and growth forecast based on value (FY 2018-FY 2027e)
4.2. PESTEL analysis
CHAPTER 5: IMPACT OF COVID-19
5.1. Impact of COVID-19
CHAPTER 6: MARKET INFLUENCERS
6.1. Market drivers
6.2. Market challenges
CHAPTER 7: GOVERNMENT INITIATIVES
7.1. Government initiatives
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Electrotherm (India) Limited
Company information
Business description
Products/services
Key people
Financial snapshot
Key business segments
Key geographical segments
Note: Financial data and segment-wise data is available
for public companies only
8.2. Wardwizard Innovations & Mobility Limited
8.3. Ampere Vehicles Private Limited
8.4. Ather Energy Private Limited
8.5. Hero Electric Vehicles Private Limited
8.6. Lohia Auto Private Limited
8.7. NDS Eco Motors Private Limited
8.8. Okinawa Autotech Private Limited
8.9. Tork Motors Private Limited
8.10. Tunwal E-Bike India Private Limited
CHAPTER 9: RECENT DEVELOPMENTS
9.1. Recent developments
CHAPTER 10: UPCOMING PRODUCT LAUNCHES IN INDIA
10.1. Upcoming product launches in India
CHAPTER 11: APPENDIX
11.1. Research methodology
11.2. About Netscribes
11.3. Disclaimer
COMPANIES PROFILED
Electrotherm (India) Limited
Wardwizard Innovations & Mobility Limited
Ampere Vehicles Private Limited
Ather Energy Private Limited
Hero Electric Vehicles Private Limited
Lohia Auto Private Limited
NDS Eco Motors Private Limited
Okinawa Autotech Private Limited
Tork Motors Private Limited
Tunwal E-Bike India Private Limited
CHAPTER 2: SOCIO-ECONOMIC INDICATORS
CHAPTER 3: INTRODUCTION
3.1. Market definition and structure
CHAPTER 4: INDIA ELECTRIC BIKES MARKET OVERVIEW
4.1. Market size and growth forecast based on value (FY 2018-FY 2027e)
4.2. PESTEL analysis
CHAPTER 5: IMPACT OF COVID-19
5.1. Impact of COVID-19
CHAPTER 6: MARKET INFLUENCERS
6.1. Market drivers
6.2. Market challenges
CHAPTER 7: GOVERNMENT INITIATIVES
7.1. Government initiatives
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Electrotherm (India) Limited
Company information
Business description
Products/services
Key people
Financial snapshot
Key business segments
Key geographical segments
Note: Financial data and segment-wise data is available
for public companies only
8.2. Wardwizard Innovations & Mobility Limited
8.3. Ampere Vehicles Private Limited
8.4. Ather Energy Private Limited
8.5. Hero Electric Vehicles Private Limited
8.6. Lohia Auto Private Limited
8.7. NDS Eco Motors Private Limited
8.8. Okinawa Autotech Private Limited
8.9. Tork Motors Private Limited
8.10. Tunwal E-Bike India Private Limited
CHAPTER 9: RECENT DEVELOPMENTS
9.1. Recent developments
CHAPTER 10: UPCOMING PRODUCT LAUNCHES IN INDIA
10.1. Upcoming product launches in India
CHAPTER 11: APPENDIX
11.1. Research methodology
11.2. About Netscribes
11.3. Disclaimer
COMPANIES PROFILED
Electrotherm (India) Limited
Wardwizard Innovations & Mobility Limited
Ampere Vehicles Private Limited
Ather Energy Private Limited
Hero Electric Vehicles Private Limited
Lohia Auto Private Limited
NDS Eco Motors Private Limited
Okinawa Autotech Private Limited
Tork Motors Private Limited
Tunwal E-Bike India Private Limited
