According to www.techsciresearch.com latest report- India Electric Two Wheeler Market By Vehicle Type (Electric Scooter and Electric Motorcycle), By Voltage Capacity (48-59V, 60-72V, 73-96V & Above 96V), By Battery Type, By Motor Placement, Competition, Forecast and Opportunities, FY 2026F. Report URL- https://www.techsciresearch.com/report/india-electric-two-wheeler-market/1668.html

1. MARKET INTELLIGENCE. CONSULTING
www.techsciresearch.com
FY2016 – FY2026F
India Electric Two-Wheeler Market
Competition, Forecast and Opportunities
Published: September 2020

2. 2© TechSci Research
Table of Contents
2
S. No. Contents
1. Product Overview
2. Research Methodology
3. Analyst View
4. Voice of Customer
5. Government Initiatives
6. India Electric Two-Wheeler Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type (Electric Scooter and Electric Motorcycle)
6.2.2. By Voltage Capacity (48-59V, 60-72V, 73-96V & Above 96V)
6.2.3. By Battery Type (Lead and Li-ion)
6.2.4. By Motor Placement (Hub Type vs. Chassis Mounted)
6.2.5. By Region
6.2.6. By Company
6.3. Market Attractiveness Index (By Battery Type)
6.4. Market Attractiveness Index (By Vehicle Type)
6.5. Market Attractiveness Index (By Voltage Capacity)
6.6. Market Attractiveness Index (By Motor Placement)
6.7. Market Attractiveness Index (By Region)

3. 3© TechSci Research
Table of Contents
3
S. No. Contents
7. India Electric Scooter Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Battery Capacity
7.2.2. By Battery Type
7.3. Market Attractiveness Index (By Battery Type)
7.4. Market Attractiveness Index (By Battery Capacity)
8. India Electric Motorcycle Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Battery Capacity
8.2.2. By Battery Type
8.3. Market Attractiveness Index (By Battery Capacity)
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Policy and Regulatory Landscape
11. Market Trends and Developments
12. Charging Infrastructure
13. SWOT Analysis
14. India Economic Profile

4. 4© TechSci Research
Table of Contents
4
S. No. Contents
15. Product Benchmarking and Pricing Analysis
16. Impact of Covid-19 on India Electric Two-Wheeler Market
17. Competitive Landscape
17.1. Hero Electric Vehicles Pvt. Ltd.
17.2. Okinawa Autotech Pvt. Ltd.
17.3. Ampere Vehicles Pvt Ltd
17.4. Electrotherm (India) Ltd.
17.5. Lohia Auto Industries
17.6. Avon Cycles Ltd.
17.7. Tunwal E-Bike India Pvt. Ltd
17.8. NDS Eco Motors Private Limited
17.9. Ather Energy Pvt. Ltd.
17.10. Tork Motors Private Limited
18. Strategic Recommendations
19. About Us & Disclaimer

5. 5© TechSci Research
List of Figures
Air Coolers
S. No. Title
Figure 1: India Electric Two-Wheeler Market - Unaided Brand Recall (N=75)
Figure 2: India Electric Two-Wheeler Market - Aided Brand Recall (N=75)
Figure 3: India Electric Two-Wheeler Market - Factors Influencing Purchase Decision (N=75)
Figure 4: India Electric Two-Wheeler Market - Influencer of Purchase (N=75)
Figure 5: India Electric Two-Wheeler Market - Brand Satisfaction Level, By Performance (N=75)
Figure 6: India Electric Two-Wheeler Market – Brand Satisfaction Level, By Features (N=75)
Figure 7: India Electric Two-Wheeler Market – Challenges/Unmet Needs (N=75)
Figure 8: India Electric Two-Wheeler Market, By Motorcycle Brand Preference (N=75)
Figure 9: India Electric Two-Wheeler Market, By Profession VOC Break-Up (N=75)
Figure 10: India Electric Two-Wheeler Market, By Male Vs Female VOC Break-Up (N=75)
Figure 11: India Electric Two-Wheeler Market, City-Wise VOC Break-Up (N=75)
Figure 12: India Electric Two-Wheeler Market, Age-Wise VOC Break-Up (N=75)
Figure 13:
India Electric Two-Wheeler Market Size, By Value (USD Million), By Volume (Thousand Units),
FY2016-FY2026F
Figure 14:
India Lithium-ion Battery Import Scenario, By Value (USD Million) & By Volume (Million Units),
2015-2019 (HS Code: 85065000)
Figure 15: India Electric Two-Wheeler Market Share, By Vehicle Type, By Volume, FY2016–FY2026F
Figure 16: India Electric Two-Wheeler Market Share, By Voltage Capacity, By Volume, FY2016–FY2026F
Figure 17: India Electric Two-Wheeler Market Share, By Battery Type, By Volume, FY2016–FY2026F
Figure 18: India Electric Two-Wheeler Market Share, By Motor Placement, By Volume, FY2016–FY2026F
Figure 19: India Electric Two-Wheeler Market Share, By Region, By Volume, FY2016–FY2026F
Figure 20: India Electric Two-Wheeler Market Share, By Top Five Companies, By Volume, FY2020
5

6. 6© TechSci Research
List of Figures
Air Coolers
S. No. Title
Figure 21:
India Electric Two-Wheeler Market, Market Attractiveness Index on the Basis of Market Size
(Thousand Units) & Growth Rate (%), By Battery Type
Figure 22:
India Electric Two-Wheeler Market, Market Attractiveness Index on the Basis of Market Size
(Thousand Units) & Growth Rate (%), By Vehicle Type
Figure 23:
India Electric Two-Wheeler Market, Market Attractiveness Index on the Basis of Market Size
(Thousand Units) & Growth Rate (%), By Voltage Capacity
Figure 24:
India Electric Two-Wheeler Market, Market Attractiveness Index on the Basis of Market Size
(Thousand Units) & Growth Rate (%), By Motor Placement
Figure 25:
India Electric Two-Wheeler Market, Market Attractiveness Index on the Basis of Market Size
(Thousand Units) & Growth Rate (%), By Region
Figure 26:
India Electric Scooter Market Size, By Value (USD Million), By Volume (Thousand Units),
FY2016-FY2026F
Figure 27: Most Polluted Cities in India*, 2019
Figure 28: India Electric Scooter Market Share, By Battery Capacity, By Volume, FY2016–FY2026F
Figure 29: India Electric Scooter Market Share, By Battery Type, By Volume, FY2016–FY2026F
Figure 30:
India Electric Scooter Market, Market Attractiveness Index on the Basis of Market Size
(Thousand Units) & Growth Rate (%), By Battery Type
Figure 31:
India Electric Scooter Market, Market Attractiveness Index on the Basis of Market Size
(Thousand Units) & Growth Rate (%), By Battery Capacity
Figure 32:
India Electric Motorcycle Market Size, By Value (USD Million), By Volume (Thousand Units),
FY2016-FY2026F
Figure 33: India Electrical Vehicle Sales, By Vehicle Type in FY 2020
Figure 34: India Electric Motorcycle Market Share, By Battery Capacity, By Volume, FY2019–FY2026F
Figure 35: India Electric Motorcycle Market Share, By Battery Type, By Volume, FY2019–FY2026F
Figure 36:
India Electric Motorcycle Market, Market Attractiveness Index on the Basis of Market Size
(Thousand Units) & Growth Rate (%), By Battery Capacity
6
List of Table
S. No. Title
Table 1: India Electric Two-Wheeler Market - Product Benchmarking & Pricing Analysis, FY 2020

7. 7© TechSci Research
PRODUCTOVERVIEW

8. 8© TechSci Research
Product Overview
8
Classification According to Vehicle Type
Vehicle Segment Sub-Segment Customer Segment
Two-Wheeler
Scooter
Individuals
Motorcycle
Electric two-wheelers are vehicles that are powered by electricity. Electric two-wheelers can be divided into
two categories, namely, electric scooters (e-scooters) and electric motorcycles (e-motorcycles). A battery
pack and a motor are installed in the vehicles to store and transform the electric energy into mechanical
energy. The user control is attached to the handle bar to stop and adjust the speed.
Electric Two-Wheeler Definition

9. 9© TechSci Research
Product Overview
Review Period
FY2016 – FY2019
Base Year
FY2020
Estimated Year
FY2021
Forecast Period
FY2022 – FY2026
Year Range
By Vehicle Type
• Motorcycle
• Scooter
By Battery Capacity
• 48-59V
• 60-72V
• 73-96V
• Above 96V
By REGION
• North
• West
• South
• East
Market Segmentation
9
• Lead Acid
• Li-Ion
By Battery Capacity
By Motor Placement
• Hub Type
• Chassis Mounted

10. 10© TechSci Research
RESEARCHMETHODOLOGY

11. 11© TechSci Research
Research Methodology
 Identifying Key Opinion
Leaders
 Questionnaire Design
 In-depth Interviews
Data
Collection
Developing List
of Respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was
conducted to determine
top players in India
Electric Two-Wheeler
market, overall market
size and segmental
market size.
In order to conduct
industry experts’
interviews, TechSci
formulated a
detailed discussion
guide.
List of industry
players and
industry
specialists was
developed.
TechSci conducted
interviews with
industry experts
and industry
players for data
collection and
verification.
Data obtained as
a result of
primary and
secondary
research was
validated through
rigorous
triangulation.
The data was
scrutinized using MS-
Excel, statistical tools
and internal proprietary
database to obtain
qualitative and
quantitative insights
about India Electric
Two-Wheeler market.
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
 Recent Developments
 Market Changing
Aspects/Dynamics
 Government Policies
 Conclusion
 Market Participants
 Key Strengths
 LinkedIn
 TechSci Internal
Database
 Factiva
 Hoovers
Paid Sources
 Company Websites
 Company Annual
Reports
 White Paper Study
 Financial Reports
 Investor
Presentations
 Regulatory Bodies
Secondary ResearchPrimary Research
11

12. 12© TechSci Research© TechSci Research
Respondents were asked about the current and future market growth rates, as well as market shares by vehicle type, by
voltage capacity, by battery type, by motor replacement and by region. Removing the outlier responses, the geometric mean
of growth estimates and provider wise revenue shares generated across various segments were considered to arrive at the
final revenue shares. Revenue shares generated across various segments were further triangulated based on the responses
from other stakeholders.
Methodology Followed for Calculation of Market Shares:
Market shares by vehicle type, by voltage capacity, by battery type, by motor replacement and by region were calculated
based on the responses received through primary surveys with industry experts, in which the respondents were asked about
the market shares or revenue generated through electric two-wheelers market in India. The final shares were calculated by
taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.
Methodology Followed for Forecasting:
TechSci Research performed periodical checks on data collected through the surveys with logical checks and analyzed the
survey results in SPSS/Tableau Software.
Research Methodology
12

13. 13© TechSci Research© TechSci Research
Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast
India electric two-wheeler market, TechSci Research used various forecast techniques such as:
o Moving Average
o Time Series Analysis
o Regression Analysis
o Econometric and Judgmental Analysis
• The currency used in the report is United States Dollar (USD), with the market size indicated in USD Million.
Research Methodology
13

14. 14© TechSci Research
Research Methodology
TechSci Research used its own forecast tool, which is based on the growth of various allied industries. TechSci Research also
used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market
numbers. Partial list of companies interviewed and key secondary sources studied for the report include:
Partial List of Companies Interviewed Key Secondary Sources
 Continental AG
 Curtiss-Wright Corporation
 Infineon Technologies AG
 ZF Friedrichshafen AG
 SKF Ltd
 Nexteer Automotive
• International Monetary Fund
 World Bank
 TechSci Research Proprietary Database & Knowledge
Repository
 Company Annual Reports
 Industry Magazines
 Industry Reports
 Credible Paid Databases
 OICA
14
Partial List of Companies Interviewed Key Secondary Sources
 FIT Hon Teng Limited
 Otter Products, LLC
 Apple Inc.
 Samsung Electronics Co., Ltd.
 Griffin Technology
 Pelican Products Inc.
 Reiko Wireless Inc.
 Zagg Inc.
 Moshi
 CG Mobile Ltd.
• International Monetary Fund
 World Bank
 TechSci Research Proprietary Database & Knowledge
Repository
 Company Annual Reports
 Industry Magazines
 Industry Reports
 Credible Paid Databases
 News Dailies
 CEIC
Partial List of Companies Interviewed Key Secondary Sources
 Hero Electric Vehicles Pvt. Ltd.
 Electrotherm (India) Ltd.
 Lohia Auto Industries
 Avon Cycles Ltd.
 Okinawa Autotech Pvt. Ltd.
 Xxplore Automotive Pvt. Ltd.
 BSA Motors
 Go GreenEOT Pvt. Ltd.
 SMEV
 Niti Aayog
 TechSci Research Proprietary Database & Knowledge
 Company Annual Reports
 Industry Magazines
 Industry Reports
 FAME - India
 SIAM
 Credible Paid Databases

15. 15© TechSci Research
Industry Brief
15
According to TechSci Research report, “India Electric Two-Wheeler Market By Vehicle Type, By Battery Capacity, By Battery Type, Competition,
Forecast & Opportunities, FY2016 - FY2026F”, India electric two-wheeler market stood around 152 thousand units in FY 2020 and the market is
forecast to grow at a CAGR of more than 25% during FY 2021 – FY 2026. Growth in the country’s electric two-wheeler market is led by rising
concerns about vehicular pollution and increasing government support through several initiatives and schemes such as FAME India scheme,
which supports faster adoption of electric two-wheelers across the country. Additionally, increasing R&D focus by leading companies to develop
technologically advanced products to attract consumers towards electric two-wheelers in an affordable price range is further anticipated to boost
sales of electric two-wheelers across the country during the forecast period. However, lack of technical awareness and high procurement cost is
hampering the growth of electric two-wheeler market in India.
India electric two-wheeler market is segmented based on battery type, vehicle type, by voltage capacity, by region. In terms of battery type, the
market is segmented into Lithium-Ion and Lead Acid. In recent times, Lead Acid battery has been dominating the market and the segment will
continue to dominate the market during the forecast period as well. However, the share of Li-ion battery is expected to rise at a swift pace owing
to their high energy density, lower power loss and government launch of FAME II policy, which supports the use of Lithium-Ion battery in electric
two-wheeler.
On the basis of vehicle type, electric two-wheelers market is broadly segmented into two categories, namely scooter and motorcycle. In FY 2020,
scooters dominated the country’s electric two-wheeler market with more than 95% market share. It is expected that scooter segment will continue
its dominance in India electric two-wheeler market during forecast period as well. The main factors boosting adoption of electric scooters in India
include benefits on price, design and registration procedure and low maintenance cost as compared to motorcycles and petrol fueled scooters.
On the basis of voltage capacity, the market is segregated into 48-59V, 60-72V, 73-96V, Above 96V. As of FY 2020, the market is largely
dominated by 48-59V, but it is expected that due to the growing demand for performance oriented electric scooters and electric motorcycles in
near future the market will be dominated by 60-72V by FY 2026. In terms of regional analysis, the market can be segmented into North, West,
South and East. Among these regions, North region dominates India electric two-wheeler market with more than 30% value share in FY 2020,
followed by the country’s West region. Hero Electric, Okinawa Autotech Pvt. Ltd, Ampere Vehicles, Electrotherm India (YO Bikes), among others
are some of the leading electric two-wheeler manufacturers across the country.
“Demand for electric two-wheelers in India has been growing over the past few years, owing to the constant efforts by the government to
emphasize on the need for clean vehicles due to deteriorating air quality. To support its efforts, the government has been providing incentives on
purchase of electric two-wheelers, owing to various environmental benefits associated with such vehicles. Moreover, with an increasing number
of consumers aligning towards electric two-wheelers, coupled with many ongoing research and development projects in pipeline by the major
players for developing highly efficient electric two wheelers, the sales of electric two-wheelers are projected to grow at a robust pace in India in
the coming years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

16. 16© TechSci Research
Sample Data - Snapshot
16
India Electric Two-Wheeler Market Size, By Value (USD Million), By Volume (Thousand Units), FY2016-FY2026F
(130.00)
(80.00)
(30.00)
20.00
70.00
120.00
170.00
220.00
270.00
320.00
370.00
FY2016 FY2017 FY2018 FY2019 FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F
-
50.00
100.00
150.00
200.00
250.00
Value (USD Million) Volume (Thousand Unit)
CAGR FY2016-FY2020
By Value: xx%
By Volume: xx%
CAGR 2020E-FY2026F
By Value: xx%
By Volume: xx%
India Electric Scooter Market Share, By Battery Capacity, By Volume, FY2016–FY2026F
FY2016 FY2017 FY2018 FY2019 FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F
>25Ah 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%
<25Ah 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00%
FY2019 FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F
Lead Acid 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%
Li-ion 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00%
India Electric Motorcycle Market Share, By Battery Type, By Volume, FY2016–FY2026F

17. 17© TechSci Research
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17
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Competition, Forecast and Opportunities
FY2016 – FY2026F

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