India is amongst the most polluted countries all across the globe, owing to which, the concerns regarding the environment have been surging. The Indian government has started taking initiatives for somehow curbing the rising air pollution levels. One of those measures is the encouragement to adopt electric vehicles instead of conventional ICE vehicles. Subsidies and tax rebates are being provided to the people who opt for electric vehicles. Other than electric cars, the demand for electric scooters and motorcycles has also considerably increased in the country.
Owing to this, the Indian electric scooter and motorcycle market is projected advance at a robust volume CAGR of 57.9% during the forecast period (2020–2025), as per a report by P&S Intelligence. The number of electric scooters and motorcycles sold in 2019, in India, was approximately 152.0 thousand, which is predicted to reach 1,080.5 thousand units in the end of 2025. Moreover, the retail sales value is projected to increase to more than $1.0 billion by 2025, with a 63.9% CAGR during 2020–2025.
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Geographically, the Indian electric scooter and motorcycle market is being dominated by Uttar Pradesh, and the state accounted for about 15% volume share of the market in 2019. The demand for low-speed electric scooters is majorly rising from tier 3 and tier 2 cities in the state. Moreover, the rising focus of original equipment manufacturers towards increasing their share by growing their dealer network is expected to lead to the growth of the domain in Uttar Pradesh.
Hence, the market is growing due to the surging air pollution levels and favorable government policies for the adoption of electric two-wheelers in the country.
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