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India Electric Two-Wheeler Market

The Indian electric two-wheeler market is predicted to grow at 44.0% CAGR during the forecast period with its fleet size reaching 633.9 thousand units by 2024. <br>The Indian market is driven largely by the vast population and the regulations of a supportive government. With rising per capita revenue, increasing awareness of the reduction of automotive emissions, and the growth of smart cities, the industry has experienced substantial demand for these goods in recent years.

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India Electric Two-Wheeler Market

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  1. India Electric Two-Wheeler Market The Indian electric two-wheeler market is predicted to grow at 44.0% CAGR during the forecast period with its fleet size reaching 633.9 thousand units by 2024. The Indian market is driven largely by the vast population and the regulations of supportive government. With rising per capita revenue, increasing awareness of the reduction of automotive emissions and the growth of smart cities, the industry has experienced substantial demand for these goods in recent years. By product, the market is categorized into e-scooters, e-bikes, e-motorcycles, and others. E- scooters hold the largest share in the Indian market, in terms of revenue as well as fleet size. By battery type, the market is segmented into sealed lead acid, Li-ion, and NiMH. Sealed lead acid is the most common type of battery used in the electric two-wheelers in India. By battery technology, the market is categorized into removable battery and non-removable battery. Non-removable batteries are majorly used in the market as it is convenient for electric two-wheelers to plugin and charge batteries instead of removing and charging indoors. By voltage, the market is segmented into 24V, 36V, 48V, 60V, 72V. 48V electric two-wheeler holds the largest share in the Indian electric two-wheeler market, followed by 36V two- wheelers. The main factors driving the growth of the two-wheeler electricity industry in India are growing government policies and increasing urbanisation.

  2. The high battery and thus electric vehicle prices, however, and the comparatively poor performance of electric vehicles on Indian roads compared to traditional fuel-operated vehicles, are the key factors hindering the development of the Indian two-wheeler electricity market. Market players in the Indian electric two-wheeler industry are investing huge capital for capacity expansion in order to cater to rising demand. Recent News: Feb 2018, Hero Electric announced to invest INR 700 crore (~USD 109 million) for capacity expansion in the coming three to four years. Competitive Insights: Hero Electric Vehicles Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Ather Energy, Spero Electric, Lohia Auto Industries, and Yadea Technology Group are some of the key players operating in the Indian electric two-wheelers market. VynZ Research Call: +91-996-028-8381 Toll-Free (U.S. and Canada): +1-888-253-3960 Email: enquiry@vynzresearch.com Web: https://www.vynzresearch.com Connect with Us:LinkedIn | Facebook | Twitter

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