India E2W Market Size & Share Analysis, 2032

India E2W Market Size & Share Analysis, 2032 | UnivDatos

Сообщение 2025-09-23 11:30:07

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India’s E2W Market is projected to register a CAGR of nearly 72% during 2021–2027, reaching a sales volume of 3,675.8 thousand units by 2027. Over the last two years, sales of electric 2-wheelers have received significant government backing to accelerate EV adoption in India. This momentum is largely attributed to incentives under the FAME-II scheme and exemptions on registration fees and road tax by several Indian states. Alongside central and state policy measures, rising consumer awareness, higher fuel prices, falling battery costs, and post-lockdown demand recovery have all fueled the strong sales growth of E2Ws.

In Maharashtra, from December 2020 to March 2021, high-speed E2W registrations jumped by 94.16%, while ICE 2-wheeler registrations fell by 18.4% during the same period. Over this time, petrol prices rose from INR 89.16/liter to INR 97.57/liter. Additionally, the implementation of BS6 emission norms increased the prices of ICE 2-wheelers, whereas E2W prices approved under the restructured FAME-II norms declined. In E2Ws, batteries account for more than 40% of the total cost. At present, Indian OEMs depend on Chinese imports to meet battery requirements. The sharp fall in global battery prices—from US$1,160/kWh (INR 88,452.90/kWh) in 2010 to US$137/kWh (INR 10,446.59/kWh) in 2020—has been a major factor driving EV adoption in India. Battery costs are further expected to decline to US$100 (INR 7,625.25) by 2023 and US$58 (INR 4,422.65) by 2030, enabled by economies of scale.

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Based on Vehicle Type, the India E2W Market is segmented into E-Scooter/Moped and E-Motorcycle. At present, low-speed E-Scooters/Mopeds dominate the market. However, with technological advancements and innovations from OEMs, demand for high-speed E-Motorcycles is anticipated to grow rapidly during the forecast period. Based on Speed, the market is divided into Low Speed E2W and High Speed E2W. Currently, low-speed models (up to 25 KMPH) hold the majority share, but by 2025 demand for high-speed E-Motorcycles is expected to surge significantly.

Based on Technology, the market is bifurcated into Battery E2W and Plug-in E2W. Presently, Battery E2Ws lead the market over Plug-in E2Ws. With falling battery costs, E2W prices are moving closer to petrol 2-wheelers in terms of operating economics. A study by the International Council on Clean Transportation (ICCT) indicates that E2Ws in India could reach price parity with petrol 2-wheelers as early as 2027. Based on End-User, the market is segmented into Business to Consumer (B2C) and Business to Business (B2B). Currently, the B2C segment dominates; however, growing adoption of E2Ws by businesses seeking cost efficiency in their fleets is expected to accelerate B2B growth over the forecast period.

For a clearer perspective on demand, the India E2W Market is analyzed regionally across North India, East India, West India, and South India. South India is expected to lead in adoption during the forecast period. In addition to favorable policies and growing awareness, rising fuel costs and declining battery expenses remain major drivers. Key players in the Indian E2W market include Hero Electric, Okinawa, Ather Energy, Ampere Vehicles, Revolt, PureEV, Ola Electric Mobility, Kinetic Green, Evolet, and TVS.