1 / 10

India Electric Bicycle (E-Bike) Market Growth, Forecast 2022-2028

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, forecasts India electric bicycle (e-bike) market size to grow at a significant CAGR of 15.7% during the forecast period (2022u20132028). The e-bike market in India is being propelled ahead by rising customer demand for e-bikes for recreation and adventure activities, as well as the usage of e-bikes in other categories such as logistics and rentals.

priyanka25avhad
Download Presentation

India Electric Bicycle (E-Bike) Market Growth, Forecast 2022-2028

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. India Electric Bicycle (E-Bike) Market - By Propulsion Type, Trend Analysis, Competitive Landscape, Market Share & Forecast, 2022-2028

  2. India Electric Bicycle (E-bike) Market, 2028 – Industry Trends & Forecast Report BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, forecasts India electric bicycle (e-bike) market size to grow at a significant CAGR of 15.7% during the forecast period (2022–2028). The e-bike market in India is being propelled ahead by rising customer demand for e-bikes for recreation and adventure activities, as well as the usage of e-bikes in other categories such as logistics and rentals. India Electric Bicycle (e-bike) Market is set to expand at an impressive growth rate due to people’s increasing focus on cost- and fuel-efficiency, companies’ last-mile connectivity, and government’s favorable regulations and incentives.

  3. Growth Drivers Increasing Demand for Recreation and Adventure Activities, and Last-Mile Connectivity Rising demand for e-bikes for recreational and adventurous activities as well as the use of e-bikes in other sectors such as logistics and rentals are major growth drivers for the market in India. In addition, the country's more than 1.3-billion strong population with the higher percentage of young popluation and an increasing focus on improving last-mile logistics are expected to drive India e-bike industry.

  4. Restraints  High initial costs to limit market growth Due to design, wiring, motor or tiny engine, and battery power, e-bikes are becoming more expensive than regular motorcycles. Price of an e-bike is mostly determined by its grade and quality. For example, the Hero Cycles e-bike costs about INR 26,000 on average. The cost might range anywhere from INR 20,000 to INR 1,50,000 and above. High costs of new batteries and their replacements may also limit the market growth, as customers choose to spend less money on new e-bike batteries. Sample Copy: https://www.blueweaveconsulting.com/report/india-electric-bicycle-market/report-sample

  5. Impact of COVID-19 on India Electric Bicycle (E-Bike) Market The Covid-19 pandemic is expected to have a long-term favorable impact on the India e-bike market. People were wary of using public transportation during the pandemic, which, in turn, increased the demand for e-bikes. The government's electrification policy has also aided the growing demand for e-bikes. Consumers have begun to realize that automobiles with combustion engines emit 60% more pollution than those with electric motors. The usage of e-bikes as a personal means of transportation skyrocketed when the lockdown was revoked. This upward trend in the market is expected to continue in the long run.

  6. Competitive Landscape With a number of startups and companies such as Hero Cycles, GoZero, Being Human, and Giant Bicycles Co. Ltd., the India e-bike market is moderately fragmented. Advanced battery technology, lightweight materials, and increased investments in R&D are driving the market. Major global e-bike manufacturers are expanding their market reach in India, and local companies are launching new models.

  7. Recent Developments In February 2022, Hero Cycles Ltd launched a Lectro's experience center to meet customers' requirements and to display the company's products. Buyers will be able to compare e-bikes based on their capabilities. It includes topics, such as transportation, exercise, and adventure. Customers can try out various Hero Lectro e-cycle models in the store's test-ride section. In December 2021, Firefox Bikes announced plans to expand its e-bike range in India to increase the localization of e-bike production, broaden its customer base and capitalize on the growing demand for entry-level premium bikes. Hero Lectro Cargo (HLC) and Swiggy, an on-demand delivery platform, partnered in August 2021 to test the deployment of cargo e-bikes for the use case of last-mile food delivery in Hyderabad with Hero Lectro WINN, where delivery partners made the food deliveries on the cargo e-bikes.

  8. Key Players Hero Cycles, GoZero, Being Human, Giant Bicycles Co. Ltd., Mahindra & Mahindra Ltd., and other prominent players.

  9. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

  10. Contact Us:  +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662  info(@)blueweaveconsulting.com  www.blueweaveconsulting.com

More Related