Articles
India E-bike Market Share, Industry Growth, Trends Analysis 2024-2032
by Vikas Chauhan Marketing Research ProfessionalIMARC Group's report titled "India E-Bike Market Report by Propulsion Type (Pedal Assisted, Throttle-Assisted), Battery Type (Lithium-Ion Battery, Lead-Acid Battery), Power (Less Than and Equal to 250W, Above 250W), Application (City and Urban, Trekking, Cargo), and Region 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on India E-bike market share. The India E-bike market size reached US$ 1,178.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,917.4 Million by 2032, exhibiting a growth rate (CAGR) of 10.6% during 2024-2032.
Factors
Affecting the Growth of the India E-bike Industry:
- Heightening Environmental Awareness and
Sustainability:
The India
e-bike industry is significantly driven by the growing environmental awareness
and the quest for sustainable transportation alternatives. As concerns about
pollution and climate change intensify, there is a heightened interest in eco-friendly options to replace traditional
gasoline-powered vehicles. E-bikes, with their zero emissions and lower carbon
footprint, have emerged as a sustainable and energy-efficient mode of
transport. They align with India's commitment to reducing pollution and
greenhouse gas emissions, making them an attractive choice for
environmentally-conscious consumers seeking a cleaner and greener commuting
solution.
- Rising Traffic Congestion and Last-Mile
Connectivity:
The
mounting issue of traffic congestion in Indian cities is propelling the demand
for e-bikes as a practical mobility solution. E-bikes excel in navigating
through congested urban streets and serve as an efficient last-mile
connectivity option. Their compact size, agility, and capability to bypass
traffic jams make them a preferred choice for urban commuters. E-bikes offer a
way to beat gridlock and provide a solution for seamless and stress-free
connectivity between public transportation hubs and final destinations,
addressing the challenges of urban mobility in India's bustling cities, thus
fueling market growth.
- Favorable Government Initiatives and
Incentives:
Government
policies and incentives are major factors accelerating the adoption of e-bikes
across India. Various state and central government initiatives, including
subsidies, tax benefits, and policy support for electric vehicles (EVs), are
incentivizing consumers to opt for e-bikes. These measures reduce the overall
cost of e-bikes and create a favorable regulatory environment that fosters the
growth of the e-bike market in India. Government-backed initiatives encourage
manufacturers, retailers, and consumers to participate in the shift toward
sustainable and electric transportation solutions, thus catalyzing the e-bike
industry's growth in the country.
Leading Companies Operating in the India E-bike Industry:
- eAdicct Mobility Solutions Pvt.Ltd.
- Elektron Cycles
- Giant Bicycles India
- GoZero Mobility
- Hero Lectro E-Cycles (Hero Cycles Limited)
- Nibe E-motor Limited
- PURE EV
- SK EBICYCLE LLP
- SS Electric Vehicle
- Trek Bicycle Corporation
Ask Analyst for Sample Report: https://www.imarcgroup.com/request?type=report&id=5049&flag=C
India
E-bike Market Report Segmentation:
By
Propulsion Type:
- Pedal Assisted
- Throttle-Assisted
Throttle-assisted
represented the leading segment due to its simplicity and user-friendliness,
making it a popular choice for consumers new to e-bikes.
By Battery
Type:
- Lithium-Ion Battery
- Lead-Acid Battery
Lithium-ion
battery accounted for the largest market share owing to its
superior energy density, longer lifespan, and quicker charging capabilities.
By Power:
- Less Than and Equal to 250W
- Above 250W
Based on
the power, the market has been bifurcated into less than and equal to 250W and
above 250W.
By
Application:
- City and Urban
- Trekking
- Cargo
City and
urban held the majority of the market share on account of the high demand for
e-bikes as a practical and eco-friendly mode of transportation in densely
populated urban areas.
Regional
Insights:
- North India
- West and Central India
- South India
- East India
North
India's dominance in the India e-bike market is attributed to its favorable
geography for e-bike usage, with relatively flat terrain and a robust urban
infrastructure.
India
E-bike Market Trends:
In India, the e-bike market is majorly driven by rising environmental consciousness and the pursuit of sustainability. As concerns about pollution and climate change escalate, consumers across the country are increasingly turning to e-bikes as eco-friendly alternatives to traditional gasoline-powered vehicles. Apart from this, the escalating issue of traffic congestion, particularly in Indian cities, has augmented the demand for e-bikes.
E-bikes excel in navigating
congested urban streets, offering an efficient solution for commuting and
last-mile connectivity. Furthermore, several favorable government initiatives
and incentives, including subsidies, tax benefits, and policies promoting
electric vehicles (EVs), are encouraging consumers to embrace e-bikes, thereby supporting
market growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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About Vikas Chauhan 
Marketing Research Professional
9 connections, 0 recommendations, 45 honor points.Joined APSense since, June 2nd, 2022, From Noida, India.
Created on Dec 26th 2023 02:30. Viewed 82 times.
