According to the latest report by IMARC Group, titled “India E-bike Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the India E-bike market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The India E-Bike market is expected to exhibit a CAGR of 12.9% during 2023-2028.
E-bike, also known as an electric bike, is propelled by an electric motor. It consists of rechargeable batteries, a motor, controller, e-brake, throttle, pedal assist system (PAS), and torque sensors that enhance the riding experience in inclines, hills, and rough terrain and minimizes stress on the joints of the rider. In addition, it helps improve fitness, burns calories, performs cardiovascular exercises for building muscles and endurance, and provides flexibility. Nowadays, e-bikes are gaining popularity among individuals across India as they provide a cost-effective and emission-free commuting option.
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India E-Bike Market Trends and Drivers:
The market is primarily driven by the increasing demand for electric bikes for adventure and recreational activities. In addition, the rising product adoption due to its low maintenance costs and eco-friendliness that reduces carbon emissions in the atmosphere is contributing to market growth.
Moreover, Government of India (GoI) is taking initiatives to reduce vehicle pollution by reducing goods and service tax (GST) on e-vehicles from 12% to 5% to promote the adoption of e-vehicles which represents another major growth-inducing factor. Besides this, key players are investing in research and development (R&D) activities to enhance product quality, improve battery technologies, and integrate lightweight materials, which is propelling the market growth.
Furthermore, the easy availability of e-bikes through offline and online stores is also accelerating the product adoption rate across India, thus creating a positive market outlook.
India E-Bike Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
E-Bike Companies:
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 and Trek Bicycle Corporation.
The report has segmented the market on the basis of region, propulsion type, battery type, power and application.
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
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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