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India E-Bike Market Report by Propulsion Type (Pedal Assisted, Throttle-Assisted), Battery Type (Lithium-Ion Battery, Lead-Acid Battery), Power (Less Than and Equal to 250W, Above 250W), Application (City and Urban, Trekking, Cargo), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112023A5049
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Market Overview:
The India E-bike market size reached US$ 1,178.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,917.4 Million by 2032, exhibiting a growth rate (CAGR) of 10.6% during 2024-2032. The increasing sales of e-bikes, inflating prices of petrol, and the growing number of EV charging represent some of the key factors driving the market.
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Report Attribute
|
Key Statistics
|
|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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| Market Size in 2023 | US$ 1,178.0 Million |
| Market Forecast in 2032 | US$ 2,917.4 Million |
| Market Growth Rate 2024-2032 | 10.6% |
An electric bike (e-bike) is a bicycle powered by an electric motor and rechargeable batteries. It also comprises throttles, a display, pedals, sensors, and a motor controller. It is easy to ride and provides an economical alternative to motored vehicles as an environment-friendly means of transportation. It aids in improving cardiovascular health, promoting weight management, enhancing muscle tone, and boosting the immune system. It also reduces traffic congestion on highways and roads by allowing individuals to ride through sidewalks and bike lanes. It provides higher shelf life, enables users to travel uphill, and covers distances effortlessly. At present, key players operating in India are launching folding, cruiser, urban, mountain, snow, and commuter variants to expand their product portfolio.
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India E-Bike Market Trends:
The increasing sales of electric two-wheeler vehicles like e-bikes on account of rapid urbanization and inflating income levels of individuals represent one of the major factors strengthening the market growth in India. Moreover, due to rising environmental concerns, the Government of India (GoI) is implementing regulations to encourage the use of e-bikes and reduce the carbon footprint. This, coupled with the inflating prices of petrol and the growing demand for fuel-efficient and high-performance vehicles, and increasing awareness about the economic and ecological benefits of adopting EVs, is influencing the market positively. In addition, the increasing number of EV charging stations is driving the sales of e-bikes in India. These EV charging stations are integrated with advanced technologies, including the Internet of Things (IoT), to assist users in locating the nearby charging stations and available vacant spots and scheduling convenient slots for fill-ups. Apart from this, the rising adoption of electric two-wheelers by logistics enterprises to offer quick and convenient postal and delivery services and the thriving e-commerce sector is propelling the growth of the market. Furthermore, key players are introducing mobile applications with smart e-bike monitoring systems (SEMS) to help track fitness and provide information in real time on smartphones. This, coupled with the growing investments in promotional activities, such as celebrity endorsements, to improve the existing sales and profitability, is creating a positive outlook for the market in the country.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India E-bike market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on propulsion type, battery type, power and application.
Propulsion Type Insights:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Pedal Assisted
- Throttle-Assisted
The report has provided a detailed breakup and analysis of the e-bike market based on the propulsion type. This includes pedal assisted and throttle-assisted. According to the report, throttle-assisted represented the largest segment.
Battery Type Insights:
- Lithium-Ion Battery
- Lead-Acid Battery
A detailed breakup and analysis of the e-bike market based on the battery type has also been provided in the report. This includes lithium-ion battery and lead-acid battery. According to the report, lithium-ion battery accounted for the largest market share.
Power Insights:
- Less Than and Equal to 250W
- Above 250W
The report has provided a detailed breakup and analysis of the e-bike market based on the propulsion type. This includes less than and equal to 250W and above 250W.
Application Insights:
- City and Urban
- Trekking
- Cargo
A detailed breakup and analysis of the e-bike market based on the application has also been provided in the report. This includes city and urban, trekking, and cargo. According to the report, city and urban accounted for the largest market share.
Regional Insights:
- North India
- West and Central India
- South India
- East India
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, and East India. According to the report, North India was the largest market for e-bike. Some of the factors driving the North India e-bike market included the increasing number of EV charging stations, product innovations, advanced technologies, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the India E-Bike market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include eAdicct Mobility Solutions Pvt.Ltd., Elektron Cycles, Giant Bicycles India, GoZero Mobility, Hero Lectro E-Cycles (Hero Cycles Limited), Nibe E-motor Limited, PURE EV, SK EBICYCLE LLP, SS Electric Vehicles,Trek Bicycle Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Million |
| Segment Coverage | Propulsion Type, Battery Type, Power, Application, Region |
| Region Covered | North India, West and Central India, South India, East India |
| Companies Covered | eAdicct Mobility Solutions Pvt.Ltd., Elektron Cycles, Giant Bicycles India, GoZero Mobility, Hero Lectro E-Cycles (Hero Cycles Limited), Nibe E-motor Limited, PURE EV, SK EBICYCLE LLP, SS Electric Vehicles and Trek Bicycle Corporation |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2299 Five User License: US$ 3399 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The e-bike market in India is relatively huge. According to the IMARC Group, the market accounted for about US$ 1,178.0 Million in 2023. The demand for e-bikes is growing rapidly owing to several factors, such as the rising need for eco-friendly commuting solutions and the launch of numerous government initiatives to reduce CO2 emissions. Moreover, for short distances, e-bikes are a more efficient means of transportation when compared to other conventional means, as they aid in easy maneuvering during traffic congestion and help in convenient vehicle parking, which is acting as another significant growth-inducing factor. Furthermore, the introduction of folding, cruiser, urban, mountain, and commuter e-bikes by manufacturers to expand their customer base is also bolstering the market growth. In line with this, the emerging popularity of innovative e-bike variants with Smart E-Bike Monitoring Systems (SEMSs) and hydrogen-powered battery, is further propelling the product demand.
The market for e-bikes in India seems to have a promising future. The continuous development of connected e-bikes, lightweight electrical energy storage systems, and drive motors to enhance the e-bike performance is expected to drive the India e-bike market in the coming years. Besides this, the launch of beneficial government policies, schemes, and incentives to aid in the establishment of a safer and connected transportation network will continue to propel the market growth over the forecast period. Additionally, the elevating number of technological advancements in the automobile sector and the rising integration of remote diagnostics, integrated navigation, and anti-theft systems with e-bikes are anticipated to fuel the India e-bike market over the forecasted period.
We expect the India E-bike market to exhibit a CAGR of 10.6% during 2024-2032.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary closure of numerous manufacturing units for e-bikes.
The increasing consumer concerns toward the growing levels of carbon emissions, along with several advancements in the production of fuel-efficient vehicles, are primarily driving the India E-bike market.
Based on the propulsion type, the India E-bike market can be categorized into pedal assisted and throttle-assisted. Currently, throttle-assisted accounts for the majority of the total market share.
Based on the battery type, the India E-bike market has been segregated into lithium-ion battery and lead-acid battery, where lithium-ion battery currently exhibits a clear dominance in the market.
Based on the application, the India E-bike market can be bifurcated into city and urban, trekking, and cargo. Currently, city and urban holds the largest market share.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where North India currently dominates the India E-bike market.
India is the world’s second-largest two-wheeler market and the country is continuously paving the way to develop cleaner and more cost-efficient electric vehicles. There are several key players in India that are currently manufacturing electric bikes. These include Ola Electric, Okinawa Autotech, Hero Electric, Ampere Vehicles, Ather Energy, etc.
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