IMARC Group, a leading market research company, has recently releases report titled “India E-Bike Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the India e-bike market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the India e-bike market?
The India E-bike market size reached US$ 1,048 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,113 Million by 2028, exhibiting a growth rate (CAGR) of 12.4% during 2023-2028.
What is e-bike?
An electric (e)-bike is a two-wheeled vehicle that relies on an electric motor that provides propulsion assistance to the rider. It comprises a battery pack and an electric motor and is widely available in different sizes, shapes, colors, battery capacities, and internet connectivity features. It has low operational costs, reduces the dependency on fossil fuels, and requires minimal maintenance. As it is an eco-friendly transportation solution that is a suitable option for daily commuters, recreational riders, and even delivery services, the demand for e-bikes is increasing in India.
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What are the growth prospects and trends in the India e-bike industry?
At present, the rising awareness and concern about environmental sustainability among individuals represent one of the major factors strengthening the growth of the market in India.
Besides this, the increasing technological advancements in batteries that provide enhanced performance of a vehicle are offering lucrative growth opportunities to industry investors. In addition, the growing demand for e-bikes, as they are convenient, flexible, easy to maneuver, and cost-effective, is offering a positive market outlook in India.
Moreover, the increasing consumer preference for greener transportation alternatives is contributing to the growth of the market in India. Furthermore, the Government of India is encouraging the adoption of e-bikes by offering various subsidies and tax rebates, which is supporting the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Propulsion Type:
- Pedal Assisted
- Throttle-Assisted
Breakup by Battery Type:
- Lithium-Ion Battery
- Lead-Acid Battery
Breakup by Power:
- Less Than and Equal to 250W
- Above 250W
Breakup by Application:
- City and Urban
- Trekking
- Cargo
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
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