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The report on the “India Electric Bikes Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.
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India Electric Bikes Market Analysis and Growth Forecast:
In FY 2020, the electric bikes market in India was valued at INR 72.34 Million. It is expected to expand at a compound annual growth rate (CAGR) of ~11.16% during the 2021-2027 period, to reach INR 143.34 Million by 2027.
India is at the initial stages of making the transition to electric vehicles. Concerns regarding pollution and other environmental issues, along with lower operating costs of electric vehicles in comparison to fuel-drive ones will result in the increased adoption of electric bikes, in turn boosting market growth. With the government encouraging the adoption of electrified vehicles, the electric bikes market in India is expected to grow in the coming years. The cost of running electric bikes is about INR 10 for 70 km, whereas the same distance using conventional variants cost a minimum of INR 102.
In February 2018, the Indian governments policy think tank, Niti Aayog, proposed and mandated the electrification of all two-wheelers with a displacement capacity of below 150cc, by March 2025. With this regulation, the two-wheeler industry will experience a rapid transition toward electric mobility. Further, the government brought great changes in the Department of Heavy Industry in association with the Society of Indian Automobile Manufacturers schemes of ‘FAME’ and ‘FAME II’. Other government initiatives which will promote the adoption of electric bikes include the National Electric Mobility Mission Plan 2020 (NEMMP 2020), the Atmanirbhar Bharat Abhiyan, and the Make in India campaign.
COVID-19 impact analysis:
The nationwide lockdown in the wake of the pandemic will have a long-term positive impact on the electric bikes market in India. The demand for electric bikes increased amid the pandemic because people were apprehensive about traveling using public transport. The growing demand for electric bikes has also been supported by the governments electrification policy. Moreover, people have started to realize that vehicles with combustion engines cause 60% more pollution than the electrified variants. After the lockdown was lifted, the adoption of electric bikes as a personal mode of transport surged. This growth is likely to continue in the long run as well.
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Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.
Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.
Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.
Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.
The Analysis Objectives of the Report are:
To determine the size of the Market by identifying its sub-segments.
To research the key players and analyze their growth strategies.
To assess the size and value of the Market based on key regions.
To analyze the Market in terms of growth trends, potential, and participation in the overall sector.
To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.
Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.
To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.
What is new in 2024?
– Major developments that can change the business landscape as well as market forecasts.
– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.
– Coverage of new market players and change in the market share of existing players of the market.
– Updated financial information and product portfolios of players operating in the market.
– Updated market developments of the profiled players.
– Any new data points/analysis (frameworks) which was not present in the previous version of the report
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