2 & 3 Wheeler Electric Vehicle Market in India & Future Outlook 2025

India Being the One of the World’s Biggest Market for Automobile Sector with Annual Domestic Sales of 24 Million to Drive the Electric Vehicle Market Mainly in 2&3w Segment Owing to the Ambitious Plans and Initiatives of the Government.

The Global automobile industry landscape is on the verge of disruption due to adoption of new business model, digitization given the government thrust in the industry. Similarly, India is not behind to revolutionize its own automobile sector where electrification is the prime agenda of the government. Electrification of the automobile sector is one of the reason to curb pollution as government is planning towards building the green economy. With the help of thrust from government’s policies and subsidies schemes like FAME, the business preposition in the electric vehicle market has grown specially in 2W and 3W market in India. Considering the great potential in 2W & 3W segment, the government targets 30% Electric Vehicles (EV) on the roads by 2030. Going by the current rate of 7-8% CAGR growth in automobile sales, over 46,000,000 vehicles (two-, three-, and four wheelers)could be sold in 2030. This annual market size would present an opportunity for Indian companies to become leaders in EV technology on a global scale.

BUSINESS CASE FOR 2 & 3 WHEELER ELECTRIC VEHICLE MARKET IN INDIA

• Currently, a 12% GST applies on EVs, as against a 28%-plus GST on petrol and diesel cars and hybrid vehicles.
• 11,000 electric rickshaws are sold in India every month and sales are expected to increase around 9% by 2021.
• M&M tied up with Three Wheels United to promote Treo range in Bangalore and Hyderabad with an aim to sell another 10,000 units.
• SmartE, an Uber-style app using 800-plus e-rickshaws around New Delhi.
• The potential market for e-rickshaws could be sales of 20 million vehicles a year.
• Hero Electric plans to sell 40,000 electric two-wheelers during the current financial year. Hoping to double its volume every year and reach the 100,000 mark by fiscal 2020 or 2021.
• SmartE plans to deploy a total of 10,000 Mahindra electric three-wheelers across India by 2020

USPs

• First hand sector knowledge and inputs
• Primary research inputs from F2F interviews with domain experts
• Experts insights and market reviews taken into consideration
• Validated data and analysis
• Opportunity mapping and market sizing
• Germinates from minds that think fresh to evolve path finding guide for all stake holders through quality information and analysis
• Free query handling and analyst support for three months from the date of report procurement

Key Highlights

• Present status of 2&3 Wheeler EV’s in India.
• Development trends of 2&3 Wheeler EV’s in India.
• Key Regulatory & Policy initiatives taken up in different states to promote 2&3 Wheeler EV market in India.
• Future Outlook of 2&3 Wheeler EV in India till 2022 under different scenario’s.
• Penetration of 2&3 Wheeler EV PAN India & Region wise for different segments till 2025.
• Report insight
• Overview of the 2&3 Wheeler market in India 2019-20.
• The regulatory landscape in 2W and 3W market to assess the market opportunities for the value chain players.
• Comprehensive assessment of the 2&3 Wheeler market in India by 2025.
• Capture the demand and major demand centres till 2025 under high, Low and medium growth scenarios.
• Lists out the growth factors driving the EV market particularly in 2&3 Wheeler segment.
• PAN India & Region wise anticipated penetration for 2&3 Wheeler EV till 2025.

Must Buy for

• Automobile OEMs (2W, 3 W & 4 W developers)
• Power distribution companies
• PSUs in Power Generation Business
• IPPs
• Smart Grid & Smart City Operators
• EV Charger Suppliers
• EV Charging Station Set up providers
• EV Manufacturers
• Battery Manufacturing OEMs in India
• Power Project Funding Bodies
• Foreign Collaborating Agencies