India Electric Scooter Market Insight, Forecast 2022-2028

1. India Electric Scooter Market, By Product Type - Trend Analysis, Competitive Market Share & Forecast, 2022-2028

2. India Electric Scooter Market- Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the India electric scooter market is estimated to grow at a CAGR of 35% during 2022-2028. The growing popularity of electric scooters can be attributed to citizens' growing awareness of carbon emissions and sustainability, which is driving them to switch to electric transportation. The India electric scooter market is expected to have attractive development prospects in the projected period due to favorable government efforts and private-public investments in the construction of additional charging points at strategic places.

3. Growth Drivers  Increasing Consciousness Towards Environment and Sustainability The expansion of the electric scooter industry is expected to be fueled by rising levels of air and noise pollution, as well as a growing carbon footprint from gasoline cars. Electric scooters are gaining popularity as convenient short-distance commuters with a low to zero carbon footprint. These vehicles run entirely on electricity, resulting in zero direct emissions. Electric vehicle demand is expected to rise in the forecast period as people's awareness of the environment and sustainability grows, particularly among the younger demographic.

4. Restraints  High Cost of Advanced Camera Systems Installations The high cost of advanced cameras that are used in the automotive industry acts as a huge restraining factor for the growth of the automotive camera industry. The cameras are extremely expensive due to the integration of sensitive equipment installed in them such as lenses, sensors, mirror less cameras, etc., which boosts their price. Furthermore, the extensive research and development activities involved in bringing innovations and advancements into the camera technology are also fueling its prices, further restricting its market growth.

5. Impact of COVID-19 The unexpected breakout of the COVID-19 epidemic hampered the expansion of the electric scooter market in India. During the COVID-19 period, the manufacture of electric scooters was prohibited because of a lockdown imposed by the government. Even after the lockdown was lifted and manufacturing began, the market faced a component scarcity owing to a lack of output. The pandemic, on the other hand, appeared to present chances for the electric scooter business in terms of increased environmental awareness and sustainability. Sample Copy: https://www.blueweaveconsulting.com/report/india-electric-scooter-market/report-sample

6. Regional Insights Geographically, the India electric scooter market is segmented into North India, South India, East India, and West India. Western India accounts for the largest market share because of the favorable incentives the government of the states like Maharashtra and Gujarat offer. Maharashtra, for instance, offers an incentive of INR 5000 per kWh (approx USD 65.65) of their battery capacity while the maximum subsidy amount has been capped at INR 25,000 (approx USD 328). These incentives are promoting the use of electric scooters among consumers in West India.

7. Competitive Landscape The leading market players of the India electric scooter market are Ather Energy, Revolt Motors, Bajaj Auto Yo-Bykes, Ampere, Tvs Motor Company, Hero Electric, Okinawa Autotech, Ultraviolette Automotive, Gemopia Electric, Ola Electric, Simple Energy, And Other Prominent Players. With the existence of multiple global firms as well as small mobility startups, the market is tremendously fragmented. In terms of offers, regional entrepreneurs are giving tough competition to multinational corporations. Companies are working on growing their target market and extending outside geographical limits, thus they are introducing items in other nations.

8. Recent Development In March 2022, Hero MotoCorp, the leading motorcycle and scooter manufacturer, announced their upcoming EV venture ‘Vida - Powered by Hero’ and will unveil its first electric scooter by July.

9. Key Players Ather Energy, Revolt Motors, Bajaj Auto Yo-Bykes, Ampere, Tvs Motor Company, Hero Electric, Okinawa Autotech, Ultraviolette Automotive, Gemopia Electric, Ola Electric, Simple Energy, And Other Prominent Players.

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