Electric Bikes Market: Good Value & Room to Grow Ahead Seen

Electric Bikes Market in India 2019 is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Electric Bikes Market. Some of the key players profiled in the study are Electrotherm (India) Limited, Ampere Vehicles Private Limited, Ather Energy Private Limited, Avon Cycles Limited, Hero Electric Vehicles Private Limited, Lohia Auto Private Limited, NDS Eco Motors Private Limited, Okinawa Autotech Private Limited, Tork Motors Private Limited, Tunwal E-Bike India Private Limited.

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The electric bikes market in India is estimated to reach a value of INR 17.43 Bn by FY 2024, from INR 2.92 Bn in FY 2019, expanding at a compound annual growth rate (CAGR) of ~42.95% during the FY 2020-FY 2024 period. Electric bikes have already set a prominent footprint in the states of Uttar Pradesh, West Bengal, Gujarat, Tamil Nadu and Maharashtra. With further development in charging infrastructures, the adoption of electric bikes is likely to increase in other parts of the country as well.

Competition Analysis

The industry is dominated by new entrants in the market, such as Electrotherm (India) Limited, Hero Electric Vehicles Private Limited, Ampere Vehicles Private Limited and NDS Eco Motors Private Limited. Other market participants include Ather Energy Private Limited, Avon Cycles Limited, Lohia Auto Private Limited, Okinawa Autotech Private Limited, Tork Motors Private Limited and Tunwal E-Bike India Private Limited. The market is currently being dominated by niche players as they have already set up their operations with modern infrastructure, advanced technologies and in-house charging facilities. On the other hand, the well-established manufacturers of conventional two wheelers are yet to expand their footprint in this market. The entry of these established players is anticipated to create fierce competition within the market.

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Market Insight

Electric two wheelers are poised to be the game-changer for the two-wheeler industry. Although electric bikes comprised a minimal share (~0.6%) of the total two-wheeler sales in India in FY 2019, its sales with respect to the previous year have increased by about 129%. This growth can be attributed to the government’s initiatives towards the electrification of bikes. Other factors that have influenced the adoption of electric bikes are rising concern over air pollution and the lower ownership and maintenance costs of electric bikes. The cost of running electric bikes is about INR 10 for 70 Km, whereas the same distance can be covered by a conventional counterpart at a minimum cost of INR 102.

Government Initiatives

In February 2018, the government’s policy think tank, Niti Aayog proposed and mandated the electrification of all two wheelers with a displacement capacity of below 150 cc by March 2025. With the policy mandate, the automobile industry is likely to experience a rapid transition towards electric mobility. Such initiatives were taken to curb pollution and reduce the country’s import bills by INR ~1200 Bn by 2025. The Department of Heavy Industry in association with Society of Indian Automobile Manufacturers implemented the schemes of FAME and FAME II. Under FAME and FAME II, the government outlaid a budget of INR 107.95 Bn, directed towards the faster growth of electric vehicles.

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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Electric Bikes market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Electric Bikes near future?
What is the impact analysis of various factors in the Electric Bikes market growth?
What are the recent trends in the regional market and how successful they are?

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Some extract from Table of Contents
• Overview of Electric Bikes Market
• Electric Bikes Size (Sales Volume) Comparison by Type (2019-2025)
• Electric Bikes Size (Consumption) and Market Share Comparison by Application (2019-2025)
• Electric Bikes Size (Value) Comparison by Region (2019-2025)
• Electric Bikes Sales, Revenue and Growth Rate (2019-2025)
• Electric Bikes Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of Electric Bikes
• Electric Bikes Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions

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