Dublin, Aug. 30, 2018 (GLOBE NEWSWIRE) -- The "India Electric Scooters and Motorcycles Market Analysis and Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
India electric scooters and motorcycles market is projected to reach $617.7 million by 2025
Increasing pollution awareness among people and increasing government support in the form of subsidies are the key factors driving the growth of the market.
Electric scooters and motorcycles use electric battery for propulsion and do not produce any emissions. Moreover, these electric two-wheelers are virtually silent and do not cause noise pollution. Electric two-wheelers can manoeuvre through congested streets; can be charged from traditional wall outlets and can have a removable battery.
Insights on Market Segments:
As per the findings of research, electric scooters occupied the larger share of the market, however, the share of electric motorcycles is expected to grow in future. India would follow tough emission norms Bharat Stage (BS)-VI, from the current BS-IV, by 2020, skipping the BS-V. Such policies or initiatives to curb pollution levels in the country promises a positive regulatory environment for electric two-wheelers industry in coming years.
On the basis of battery type, lead acid battery powered electric scooters accounted for a majority share in India electric scooters and motorcycles market, owing to their cheaper price. However, the share of Lithium-ion powered electric scooters is expected to increase significantly by 2025 due to the declining prices of Lithium-ion batteries and its advantages over lead acid battery. On the basis of voltage, the 48V batteries are the most commonly used batteries in electric scooters in India. With high end electric scooters and motorcycles expected to be launched in the country, the share of high voltage batteries would increase in future. On the basis of technology, plug-in accounts for a majority of sales in the country. It is predicted that the share of battery based electric scooters would increase in the forecast period.
Stringent emission norms expected to benefit the India electric scooters and motorcycles market
Stringent emission norms would increase the prices of conventional vehicles making the electric vehicles more viable to opt. Moreover, a positive regulatory environment is expected in future to support the sale of electric vehicles.
Bharat Stage (BS) norms which are currently prevalent in India are similar to the Euro norms of European Union (EU) countries. For instance, BS IV norms of India (implemented in 2017) is similar to Euro IV norms in EU countries. While India started late but took just 11 years to reach BS IV, compared to 18 years taken by EU. Moreover, the government plans to jump directly to BS VI by 2020, skipping BS V. These stringent emission norms are in line with the commitments made by India at the Climate Change Conference in Paris in 2015. Government focus to curb the pollution levels in the country promises a positive regulatory environment for electric scooters and motorcycles industry in coming years.
Consolidated market Structure:
The research states that the India electric scooters and motorcycles market is consolidated, where Hero Electric has been the leading player in the historic period due to good brand recognition and extensive distribution network. Other important players in India electric scooters and motorcycles market includes Avon, Lohia Auto, and Electro-therm which offers electric scooters with a brand name Yo Bikes. The remaining players in this industry are small and privately-owned companies, such as Ampere Vehicles.
Key Topics Covered:
1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
3. Executive Summary
4. Introduction
4.1 Definition of Market Segments
4.1.1 By Product
4.1.2 By Battery Type
4.1.2.1 Sealed lead acid
4.1.2.2 Li-ion
4.1.3 By Technology
4.1.3.1 Plug-in based
4.1.3.2 Battery based
4.2 Value Chain Analysis
4.3 Penetration of Electric Scooters and Motorcycles
4.4 Market Dynamics
4.4.1 Trends
4.4.1.1 Li-ion powered two-wheelers gaining momentum
4.4.1.2 Growing e-retailing of electric two wheelers
4.4.2 Drivers
4.4.2.1 Stringent emission norms
4.4.2.2 Government subsidy
4.4.2.3 Rising environmental awareness
4.4.2.4 Impact analysis of drivers on market forecast
4.4.3 Restraints
4.4.3.1 Lack of awareness about electric two-wheelers
4.4.3.2 Sub-standard products affecting customer perception about electric two-wheelers
4.4.3.3 Lack of charging infrastructure
4.4.3.4 Impact analysis of restraints on market forecast
4.4.4 Opportunities
4.4.4.1 New age electric two wheelers making inroads in the market
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Intensity of Rivalry
4.5.4 Threat of new entrants
4.5.5 Threat of substitutes
5. Regulatory Policies
5.1 Subsidy Scheme
5.1.1 FAME India Scheme Overview
5.1.2 SIAM Policy Overview
5.1.3 State Subsidies for Electric Vehicles
5.2 Changing Regulatory Overview
6. India Market Size and Forecast
6.1 By Product
6.2 By Battery Type
6.3 By Voltage
6.4 By Technology
6.5 By State
6.6 Market Share Analysis of Key Players
7. Rajasthan Market Size and Forecast
8. Gujarat Market Size and Forecast
9. Maharashtra Market Size and Forecast
10. Delhi Market Size and Forecast
11. Uttar Pradesh Market Size and Forecast
12. Karnataka Market Size and Forecast
13. West Bengal Market Size and Forecast
14. Tamil Nadu Market Size and Forecast
15. Madhya Pradesh Market Size and Forecast
17. Rest of India Market Size and Forecast
18. Aftermarket Analysis
18.1 OEM to Dealer - Spares and Warranty
18.2 Dealer to Customer - Service Intervals, Road Side Assistance
18.3 Customer Feedback and Challenges
19. Cost Analysis
19.1 Charging Station Infrastructure Cost and Current Statistics
19.2 EV Scooter Assembly Factory Related Set-Up Cost Estimation
20. Company Profiles
- Ampere Vehicles Pvt Ltd.
- Avon Cycles Ltd
- Electrotherm (India) Ltd.
- Hero Electric Vehicles Pvt. Ltd.
- Lohia Auto Industries
- Okinawa Autotech Pvt. Ltd.
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