NEW YORK, Oct. 10, 2017 (GLOBE NEWSWIRE) -- According to a new market research report titled "India Electric Scooters and Motorcycles Market by Product (Scooter, Motorcycle), by Battery Type (Sealed Lead Acid, Li-ion), by Voltage (36V, 24V, 48V), by Technology (by Plug-in, Battery) – Market Size, Share, Development, Growth and Demand Forecast, 2013-2025" published by P&S Market Research, the India electric scooters and motorcycles market is projected to reach $715.9 million by 2025. Increasing pollution awareness among people and increasing government support in the form of subsidies are the key factors driving the growth of the market.
Electric scooters and motorcycles use electric battery for propulsion and do not produce any emissions. Moreover, these electric two-wheelers are virtually silent and do not cause noise pollution. Electric two-wheelers can manoeuvre through congested streets; can be charged from traditional wall outlets and can have a removable battery.
As per the findings of research, electric scooters occupied the larger share of the market, however, the share of electric motorcycles is expected to grow in the future. India would follow tough emission norms Bharat Stage (BS)-VI, from the current BS-IV, by 2020, skipping the BS-V. Such policies or initiatives to curb pollution levels in the country promises a positive regulatory environment for the electric two-wheelers industry in coming years.
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On the basis of battery type, lead acid battery powered electric scooters accounted for a majority share in India electric scooters and motorcycles market, owing to their cheaper price. However, the share of Lithium-ion powered electric scooters is expected to increase significantly by 2025 due to the declining prices of Lithium-ion batteries and its advantages over lead acid battery. On the basis of voltage, the 48V batteries are the most commonly used batteries in electric scooters in India. With high end electric scooters and motorcycles expected to be launched in the country, the share of high voltage batteries (such as 60V) would increase in the future. On the basis of technology, plug-in accounts for a majority of sales in the country. It is predicted that the share of battery based electric scooters would increase in the forecast period.
Stringent emission norms would increase the prices of conventional vehicles making the electric vehicles more viable to opt. Moreover, a positive regulatory environment is expected in the future to support the sale of electric vehicles.
Bharat Stage (BS) norms which are currently prevalent in India are similar to the Euro norms of European Union (EU) countries. For instance, BS IV norms of India (implemented in 2017) is similar to Euro IV norms in EU countries. India started late but took just 11 years to reach BS IV, compared to 18 years taken by the EU. Moreover, the government plans to jump directly to BS VI by 2020, skipping BS V. These stringent emission norms are in line with the commitments made by India at the Climate Change Conference in Paris in 2015. Government focus to curb the pollution levels in the country promises a positive regulatory environment for electric scooters and motorcycles industry in coming years.
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The research states that the India electric scooters and motorcycles market is consolidated, where Hero Electric has been the leading player in the historic period due to good brand recognition and extensive distribution network. Other important players in India electric scooters and motorcycles market includes Avon, Lohia Auto, and Electro-therm which offers electric scooters with a brand name Yo Bikes. The remaining players in this industry are small and privately-owned companies, such as Ampere Vehicles.
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