Report Overview

India Electric Scooter Market- Industry Trends & Forecast Report 2028

The India electric scooter market is anticipated to grow at the CAGR of 35% during the forecast period 2022-2028. The rapid rise of the electric scooter industry may be ascribed to a growing awareness of carbon emissions and footprints, as well as a trend away from traditional forms of transportation for shorter distance trips. In addition, government measures and monetary incentives to encourage the use of electric scooters are expected to promote market growth over the forecast period.

Electric Scooter - Overview

An electric scooter is a three-wheeled vehicle, which is powered by an electric motor and is designed to let the rider stand on it to operate. This vehicle is also capable of functioning with or without human propulsion. Electric scooter runs on a rechargeable battery which is stored onboard but also has variations of hybrid and fuel cell. The average range of a fully-charged electric vehicle is around 6 to 25 miles, with the exception of certain brands.

India Electric Scooter Market Forecast and Trends

Growth Drivers

Increasing Consciousness Towards Environment and Sustainability

The expansion of the electric scooter industry is expected to be fueled by rising levels of air and noise pollution, as well as a growing carbon footprint from gasoline cars. Electric scooters are gaining popularity as convenient short-distance commuters with a low to zero carbon footprint. These vehicles run entirely on electricity, resulting in zero direct emissions. Electric vehicle demand is expected to rise in the forecast period as people's awareness of the environment and sustainability grows, particularly among the younger demographic.

Favorable Government Initiatives and Incentives

Various state governments are taking steps and providing incentives to encourage the use of electric scooters on the roadways. Purchase refunds, tax exemptions, and tax credits are among the schemes and incentives, as are other benefits like access to bus lanes. Gujarat, for instance, is offering an incentive of INR 10,000 (approx USD 130) per kWh of battery capacity. Delhi is also granting a subsidy of INR 30,000 (approx USD 390) on electric two-wheelers.

Restraints

Lack of Charging Infrastructure in India

One of the greatest stumbling blocks for the whole electric vehicle sector, including electric scooters, is a lack of charging infrastructure. The range of electric scooters is limited, necessitating a regular recharge. There are only 1,640 operational public charging stations in India as of now, which is largely concentrated in metropolitan and larger cities such as Mumbai, Delhi, Surat, only. This might inhibit the broad adoption of electric scooters, damaging the entire market's progress.

Impact of COVID-19 on India Electric Scooter Market

The unexpected breakout of the COVID-19 epidemic hampered the expansion of the electric scooter market in India. During the COVID-19 period, the manufacture of electric scooters was prohibited because of a lockdown imposed by the government. Even after the lockdown was lifted and manufacturing began, the market faced a component scarcity owing to a lack of output. The pandemic, on the other hand, appeared to present chances for the electric scooter business in terms of increased environmental awareness and sustainability.

India Electric Scooter Market - By Product Type

Based on product type, the India electric scooter market is segmented into retro, standing/self-balancing, and folding. The retro group has the biggest market share because they are best for traveling shorter distances. The low cost of acquisition, as well as the low maintenance expenses associated with retro electric scooters, are attracting a large number of younger and working people, which is expected to drive market expansion during the projection period. The popularity of foldable electric scooters is also on the rise.

India Electric Scooter Market - By Battery Type

Based on battery type, the India electric scooter market is segmented into sealed lead acid, NiMh, and li-Ion. Because sealed lead-acid batteries provide more power and energy per KWH, they have the biggest market share. SLA batteries are also more dependable and have a longer life cycle, making them more cost-effective. However, because of its higher energy density, voltage capacity, and lower self-discharge rate, the Li-ion battery category is expected to grow at the fastest rate throughout the projection period.

India Electric Scooter Market - Regional Insights

Geographically, the India electric scooter market is segmented into North India, South India, East India, and West India. Western India accounts for the largest market share because of the favorable incentives the government of the states like Maharashtra and Gujarat offer. Maharashtra, for instance, offers an incentive of INR 5000 per kWh (approx USD 65.65) of their battery capacity while the maximum subsidy amount has been capped at INR 25,000 (approx USD 328). These incentives are promoting the use of electric scooters among consumers in West India.

Competitive Landscape

The leading market players of the India electric scooter market are Ather Energy, Revolt Motors, Bajaj Auto Yo-Bykes, Ampere, Tvs Motor Company, Hero Electric, Okinawa Autotech, Ultraviolette Automotive, Gemopia Electric, Ola Electric, Simple Energy, And Other Prominent Players.

With the existence of multiple global firms as well as small mobility startups, the market is tremendously fragmented. In terms of offers, regional entrepreneurs are giving tough competition to multinational corporations. Companies are working on growing their target market and extending outside geographical limits, thus they are introducing items in other nations. In addition, in this industry, competitive techniques such as partnerships, mergers, acquisitions, joint ventures, and so on are common.

Recent Development

• In March 2022, Hero MotoCorp, the leading motorcycle and scooter manufacturer, announced their upcoming EV venture ‘Vida - Powered by Hero’ and will unveil its first electric scooter by July.

Scope of the Report

By Product Type

• Retro
• Standing/Self Balancing
• Folding

By Battery Type

• Sealed Lead Acid
• NiMh
• Li-Ion

By Region

• North India
• South India
• East India
• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. India Electric Scooter Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Landscape/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. India Electric Scooter Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
   2. Market Share & Forecast
      1. By Battery Type
         1. Sealed Lead Acid
         2. Lithium-Ion (Li-Ion)
         3. NiMh
      2. By Voltage
         1. 36 V
         2. 48 V
         3. 60 V
         4. 72 V and others
      3. By Technology
         1. Removable
         2. Non-Removable
      4. By Maximum Speed
         1.  <25 km/h
         2. 25–50 km/h
         3. >50 km/h
      5. By Sales Channel
         1. Online
         2. Offline
      6. By Region
         1. North India
         2. South India
         3. East India
         4. West India
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership.)
7. Impact of Covid-19 on India Electric Scooter Market Industry
8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
   1. Hero Electric Vehicles Pvt. Ltd.
   2. Electrotherm (India) Ltd.
   3. Avon Cycles Ltd.
   4. LOHIA AUTO INDUSTRIES
   5. Okinawa Autotech Pvt. Ltd.
   6. TVS Motor Co. Ltd.
   7. TWENTY TWO MOTORS PVT. LTD. (22 KYMCO)
   8. Bajaj Auto Ltd.
   9. Ather Energy Pvt. Ltd.
   10. Ampere Vehicles Pvt. Ltd. (Greaves Cotton Ltd.)
   11. Tunwal E-Vehicle India Pvt. Ltd.
   12. Revolt Motors
   13. Pure EV
   14. BattRE
   15. Evolet
   16. Other prominent players

9. Key Strategic Recommendations

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1        India Electric Scooter Market Segmentation

Figure 2        India Electric Scooter Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        India Electric Scooter Market Size, By Value (USD Million), 2018-2028

Figure 5          India Electric Scooter Market Size, By Volume (Thousand Units), 2018-2028

Figure 6        India Electric Scooter Market Share, By Battery Type, By Value, 2018-2028

Figure 7        India Electric Scooter Market Share, By Battery Type, By Volume, 2018-2028

Figure 8        India Electric Scooter Market Share, By Voltage, By Value, 2018-2028

Figure 9        India Electric Scooter Market Share, By Voltage, By Volume, 2018-2028

Figure 10       India Electric Scooter Market Share, By Technology, By Value, 2018-2028

Figure 11       India Electric Scooter Market Share, By Technology, By Volume, 2018-2028

Figure 12       India Electric Scooter Market Share, By Maximum Speed, By Value, 2018-2028

Figure 13       India Electric Scooter Market Share, By Maximum Speed, By Volume, 2018-2028

Figure 14       India Electric Scooter Market Share, By Sales Channel, By Value, 2018-2028

Figure 15       India Electric Scooter Market Share, By Sales Channel, By Volume, 2018-2028

Figure 16       India Electric Scooter Market Share, By Region, By Value, 2018-2028

Figure 17       India Electric Scooter Market Share, By Region, By Volume, 2018-2028

List of Tables

Table 1         India Electric Scooter Market Size, By Battery Type, By Value, 2018-2028

Table 2         India Electric Scooter Market Size, By Battery Type, By Volume, 2018-2028

Table 3         India Electric Scooter Market Size, By Voltage, By Value, 2018-2028

Table 4         India Electric Scooter Market Size, By Voltage, By Volume, 2018-2028

Table 5         India Electric Scooter Market Size, By Technology, By Value, 2018-2028

Table 6          India Electric Scooter Market Size, By Technology, By Volume, 2018-2028

Table 7         India Electric Scooter Market Size, By Maximum Speed, By Value, 2018-2028

Table 8           India Electric Scooter Market Size, By Maximum Speed, By Volume, 2018-2028

Table 9         India Electric Scooter Market Size, By Sales Channel, By Value, 2018-2028

Table 10        India Electric Scooter Market Size, By Sales Channel, By Volume, 2018-2028

Table 11        India Electric Scooter Market Size, By Region, By Value, 2018-2028

Table 12        India Electric Scooter Market Size, By Region, By Volume, 2018-2028

Table 13        Hero Electric Vehicles Pvt. Ltd. Company Overview

Table 14        Hero Electric Vehicles Pvt. Ltd. Financial Overview

Table 15        Electrotherm (India) Ltd. Company Overview

Table 16        Electrotherm (India) Ltd. Financial Overview

Table 17        LOHIA AUTO INDUSTRIES Company Overview

Table 18        LOHIA AUTO INDUSTRIES Financial Overview

Table 19        Okinawa Autotech Pvt. Ltd. Company Overview

Table 20        Okinawa Autotech Pvt. Ltd. Financial Overview

Table 21        TWENTY TWO MOTORS PVT. LTD. (22 KYMCO) Company Overview

Table 22        TWENTY TWO MOTORS PVT. LTD. (22 KYMCO) Financial Overview

Table 23        Ather Energy Pvt. Ltd. Company Overview

Table 24        Ather Energy Pvt. Ltd. Financial Overview

Table 25        Ampere Vehicles Pvt. Ltd. (Greaves Cotton Ltd.) Company Overview

Table 26        Ampere Vehicles Pvt. Ltd. (Greaves Cotton Ltd.) Financial Overview

Table 27        Tunwal E-Vehicle India Pvt. Ltd. Company Overview

Table 28        Tunwal E-Vehicle India Pvt. Ltd. Financial Overview

Table 29        Revolt Motors Company Overview

Table 30        Revolt Motors Financial Overview

Table 31        Pure EV Company Overview

Table 32        Pure EV Financial Overview

Table 33        BattRE Company Overview

Table 34        BattRE Financial Overview

Table 35        Evolet Company Overview

Table 36        Evolet Financial Overview