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.
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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 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 electric two-wheelers industry in coming years.
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.
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.