India E-Bike Market Insights with Statistics and Growth Prediction 2021 to 2025 | Trek Bikes, eAdicct, Being Human, OMO Bikes, Hero Cycles Ltd

The India E-Bike Market research report 2021 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The India E-Bike market report provides information regarding market size, share, trends, growth, cost structure, India E-Bike market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2025.

The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the India E-Bike market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the India E-Bike industry and provides data for making strategies to increase market growth and effectiveness.

The India e-bike market is poised to register a CAGR of over 10% during the forecast period (2021 - 2025).

Competitive Landscape: Trek Bikes, eAdicct, Being Human, OMO Bikes, Hero Cycles Ltd, eBikeGo, PURE EV, Elektron Cycles, Giant Bicycles Co. Ltd, GoZero Mobility, and others.

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Key Market Trends

New Product Development will Provide the Boost in the Market

The factor which is likely to fuel the demand of the e-bike market in India is the increasing interest of new startups in e-bike leasing and new e-bike development in the country. For instance,

In 2019, the Bangalore-based electric bike rental Yulu entered into a partnership with Bajaj. Both the players will co-design and manufacture upcoming Yulu two-wheelers. Yulu maintains over 3,000 electric bikes on its platform and its plan is to have 100,000 two-wheelers in its fleet by next year. Yulu is also expanding its presence quickly in the country, it has acquired the permission to provide electric bikes at 250 subway stations in Delhi.

Also, major conventional bicycle manufacturers are launching their electric bicycles with the latest technology, and innovative design in the Indian market. For instance, In the 2020 Auto Expo, Hero cycles launched its e-bikes lineup, which includes a folding bike Easy Step, a straphanger, and an electric fat bike Essentia. Whereas in 2019 Hero, Cycles in partnership with Yamaha Motor Co. launched Lectro e-cycle, Lectro EHX20 is powered by Yamaha electric drive unit with a center motor positioned directly between the pedals.

Moreover this bicycle major is also entering into the other major market. For Instance, in January 2020, Hero Cycles Ltd, has acquired a 48% stake in German e-bike manufacturer HNF Nicolai. Company has already have presence in the UK trough their acquisition of Avocet Sports with global design centre in Manchester.

Technology Gap is hindering the India E-Bike Market

The Indian government is pushing for local manufacturing of products under Make in India, from the past few years but in the present scenario, major components of the e-bikes are imported from other countries due to lack of expertise in that component. Owing to the procurement of components such as motor, electric drive unit, and batteries; the final cost of e-bicycles are near to conventional scooters. Moreover, companies are trying to get a push from governments for e-bicycles and infrastructure.

In other major countries governments, companies and consumers collectively have revolutionized their transportation with e-bikes and bicycles. If the right policy pushes such as support for RandD to reduce overall product costs and efficiency, subsidy for the purchase of e-bikes like e-scooters and electric cars can boost the e-bike market in India.

Due to the COVID-19 pandemic, commuters are hesitated to opt for the public transportation after easing of restrictions. E-bikes have seen a huge surge in demand in other countries after the lockdown, the same trend can be expected in the Indian market in the coming months.

Some of the recent developments in the market are as follows: –

- In 2019, Zadd Automotive introduced two electric bikes Utility Mini, and Zadd X1, with the option of converting them into smart bikes.

- In February 2020, Nexzu Mobility has launched three e-cycles, Roadlark, Aello, and Rompus. All the e-cycles are equipped with lithium-ion batteries and BLDC 250W 36V motors.

- In 2019, GoZero entered into the Indian market by launching its two models One and Mile electric, company has also set up a manufacturing facility with Kirti Solar Limited in Kolkata. Company's further plan is to set up around 18 retail stores across the country in coming years.

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