Market Research Future (MRFR) has published on the “Global India Electric Vehicle Market”.
The widespread adoption of Lithium-ion (Li-ion) batteries has been a driving force behind the surge of electric scooters in India's transportation landscape. Li-ion batteries offer numerous advantages that make electric scooters a more viable and appealing option for Indian consumers. These advantages include high energy density, swift charging capabilities, lightweight design, minimal maintenance, regenerative braking, environmental considerations, technological innovation, and government incentives. Li-ion batteries have one of the highest energy densities among commercial battery technologies, approaching 300 watt-hours per kilogram (Wh/kg). This high energy storage capacity allows Li-ion-powered electric scooters to be lightweight and efficient while maintaining a longer range on a single charge. Swift charging times enabled by Li-ion batteries significantly reduce recharging durations, making electric scooters more convenient for daily use. The lightweight design facilitated by Li-ion batteries enhances maneuverability and overall performance, making these scooters particularly well-suited for India's bustling urban areas.
Li-ion batteries require minimal maintenance compared to lead-acid alternatives, and their longer lifespan translates to reduced ownership costs, appealing to cost-conscious consumers. Regenerative braking, a feature enabled by Li-ion batteries, enhances energy efficiency by converting kinetic energy into electrical energy during braking. This feature extends the scooter's range and addresses concerns about potential power depletion. Li-ion batteries generate fewer greenhouse gas emissions over their lifecycle, aligning with the growing global emphasis on sustainability. Li-ion batteries power advanced features such as smart connectivity and app-based functionalities in electric scooters, elevating the riding experience and enticing consumers with modern conveniences. In India, government incentives have been a driving force behind the electric vehicle surge, including electric scooters. These incentives, coupled with the allure of Li-ion batteries, have galvanized adoption rates, and propelled the electric scooter market forward.
Market Research Future (MRFR) has published a half-cooked research report on the “India Electric Vehicle Market” that contains the information from 2019 to 2032. The Electric Vehicle market is estimated to register a CAGR of 33.25% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the India Electric Scooter Market — Hero Electric Vehicles Pvt Ltd, Electrotherm Ltd, Avon Cycles Ltd., Benling India Energy and Technology Pvt Ltd., Okinawa Autotech Pvt. Ltd., TVS Motor Co. Ltd., Bajaj Auto Ltd., Ather Energy Pvt. Ltd., Greaves Electric Mobility Private Limited (Ampere Vehicles Pvt. Ltd.), Ola Electric Technologies Pvt LTD., and others.
Access full report @ https://www.marketresearchfuture.com/reports/india-electric-scooter-market-12441
India Electric Vehicle Highlights
India Electric Vehicle Market is expected to experience impressive growth rate of 33.25% during the forecast period and is estimated to reach USD 13,089.0billion by 2032 end.
The electric scooter market in India has experienced a remarkable surge, reflecting a significant shift towards sustainable and eco-friendly transportation solutions. Fueled by concerns over rising pollution levels, increasing urbanization, and the need for energy-efficient mobility options, the market has witnessed substantial growth. Factors such as government incentives, improved charging infrastructure, and advancements in battery technology have played pivotal roles in fostering this expansion. Leading domestic manufacturers and international players have entered the Indian market, introducing a diverse range of electric scooters with enhanced features and competitive pricing. Additionally, the evolving consumer mindset towards environmentally conscious choices has contributed to a growing demand for electric scooters. As the nation continues to prioritize clean mobility alternatives, the trajectory of the electric scooter market in India appears promising, poised for further innovation, technological enhancements, and increased market penetration.
Segment Analysis
- India Electric Scooter market is segmented into battery type, voltage type, drive type, end-use, and range.
- The India Electric Scooter Market, in this report, has been segmented based on Battery Type into Lead Acid, Li-ion.
- The India Electric Scooter Market, in this report, has been segmented based on Voltage Type into 48-59V, 60-72V, 73-96V, Above 96V.
- India Electric Scooter Market in this report has been segmented based on Drive Type into Belt Drive, Hub Motor.
- The India Electric Scooter Market, in this report, has been segmented based on End Use into Private and Commercial Fleets.
- The India Electric Scooter Market, in this report, has been segmented based on Range into Up to 50 km, 50-100 km, above 100 km.
- The India Electric Scooter Market, in this report, has been segmented based on Scooter category into premium, and budget.
Key Findings of the Study
- India Electric Vehicle Market is expected to reach USD 13,089.0 million by 2032, at a CAGR of 33.25% during the forecast period.
- The 60-72V segment is expected to grow at the fastest rate during the forecast period.
- Indian Electric Scooter Company, Hero Electric Vehicles Pvt Ltd, Electrotherm Ltd, Avon Cycles Ltd., Benling India Energy and Technology Pvt Ltd., Okinawa Autotech Pvt. Ltd., TVS Motor Co. Ltd., Bajaj Auto Ltd., Ather Energy Pvt. Ltd., Greaves Electric Mobility Private Limited (Ampere Vehicles Pvt. Ltd.), Ola Electric Technologies Pvt LTD., and others are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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