Indian Electric Scooter and Motorcycle Market Demand, Size, and Growth Forecast Report

Due to the rising sales of electric scooters and motorcycles in the country, the Indian electric scooter and motorcycle market is predicted to attain a revenue of $1,043.4 million in 2025. The sales of electric two-wheelers are rising rapidly in India because of the increasing environmental concerns, implementation of strict emission regulations, increasing government support for automobile electrification, and the provision of various financial incentives by both central and state governments on the purchase of electric vehicles in the country. Because of these factors, 1,080.5 thousand units of electric motorcycles and scooters will be sold in the country by the end of 2025. Moreover, the sales volume of these vehicles will grow at a CAGR of 57.9% between 2020 and 2025.

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In 2019, the sales of scooters accounted for a volume share of 32.0% out of the total sales of two-wheelers in the country. The country recorded sales of 5,566.0 thousand scooters in the same year. Out of these scooters, more than 95% have engine capacities less than 150 cubic centimeters (cc). These scooters are extremely suitable for local unpaved Indian roads and highly affordable for people having a limited spending ability. With the government intending to achieve 100% sales of electric two-wheelers by March 2025, the sales of the traditional fuel-powered scooters are predicted to decrease considerably in the future years. However, according to industry experts, the government's target is unrealistic and electric scooters will attain a penetration of just more than 10% under the BAU (business-as-usual) scenario by 2025. The sales of electric motorcycles were almost negligible in the country in 2019. However, in the coming years, the sales of these two-wheelers will climb, which will, in turn, cause the advancement of the Indian electric scooter and motorcycle market.

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Under the applications segment, the business-to-business (B2B) category is growing rapidly in the Indian electric scooter and motorcycle market. The emergence of two-wheeler services such as moto taxi, ride hailing, and scooter sharing and the increasing usage of electric two-wheelers in these services will boost the requirement for electric motorcycles and scooters in the country in the upcoming years.

The Indian electric scooter and motorcycle market players are increasing focusing on product launches for availing the benefits of the FAME-II (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India) scheme. According to the eligibility criteria under the scheme, electric scooters must have a minimum top speed of 40 kmph and minimum range of 80 km per charge.

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This release was published on openPR.