India Electric Scooters and Motorcycles Market to
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NEW YORK, July 23, 2018 (GLOBE NEWSWIRE) -- Electric scooters and motorcycles refer to the electrically-powered two-wheeler vehicles, ideally designed for two riders, including the driver. Electric two-wheelers can maneuver through congested streets and can be charged from traditional wall outlets and often have a removable battery, allowing them to be charged indoors. They are either plug-in or fully battery operated. According to a research by P&S Intelligence, the Indian electric scooters and motorcycles market during the historical period was witnessing a fluctuating growth over the last decade, mainly due to lack of implementation of subsidy schemes. However, with the strict norms and regulations pertaining to environmental, government incentives, and rising environmental awareness, the market is projected to grow at a very brisk rate, as it is expected to witness a CAGR of over 45% between 2018-2025.
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Growing e-retailing of electric two wheelers is a major trend in the Indian electric scooters and motorcycles market. E-commerce website Paytm has started to sell electric scooters online, which has considerably increased the sales of electric two-wheelers. Other e-commerce companies such as Flipkart, Snapdeal, and Amazon are likely to follow this trend. Moreover, Ather Energy plans to sell its electric two-wheelers online only and would provide doorstep delivery and service. Increasing penetration of internet and smartphones in India would further benefit the sales of electric two-wheelers in the country in future.
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Rising environmental awareness among the customers is driving the sales of electric two-wheelers in India. People are increasingly becoming concerned about the increasing pollution levels in the country and are adopting environmental friendly electric two-wheelers compared to the conventional ones. In future, more people are expected to opt for electric two-wheelers due to environmental concerns.
As India is moving towards electric mobility, companies in the charging infrastructure domain are drawing outlines of charging stations in the country. The Indian government has initiated a process to define standards and guidelines for electric charging stations; for instance, standardizing Protocol for EV Charging Infrastructure, namely Bharat EV charger AC-001, and Bharat EV charger DC-001. This new technology adoption is expected to open new market for electric charging station providers with expected competitive pricing in near future, which in turn is expected to have a positive impact in the Indian electric scooters and motorcycles market.
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The important players in Indian electric scooters and motorcycles market includes Hero Electric, 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.
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