Electric Two-Wheeler Market, India, 2024–2030

Electric Two-Wheeler Market, India, 2024–2030

A Confluence of Factors Is Driving Transformational Growth by Addressing Challenges Related to Affordability, Infrastructure, and Consumer Awareness

The Indian electric two-wheeler (e2W) market has witnessed phenomenal growth over the past five years. Government policy initiatives including subsidies and tax breaks on e2Ws have incentivized purchases. However, with recent policy changes there has been a slowdown in the market, but the government aims to cultivate a self-sustaining EV ecosystem, with cost reductions leading to less reliance on subsidies, also creating a long-term opportunity for investors who can capitalize on advancements and growing demand.

Established two-wheeler OEMs have become competition for the new e2W entrants, creating a dynamic market with a wider range of choices and potentially faster technological advancements.

While Indian EV charging infrastructure continues to develop, the government and private players are investing in expansion of charging networks, with a focus on creating a robust ecosystem for E2Ws in the country.

This study analyzes the Indian e2W market, considering essential players attracting investments, the main business models, the impact of changes in government policies, shifts in market share over the past few years and the reasons behind them, stakeholder strategies, and growth opportunities.