India E-bike Market Size
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 27.00 Million |
|
|
Market Size (2029) | USD 60.93 Million |
|
Largest Share by Propulsion Type | Pedal Assisted |
|
|
CAGR (2024 - 2029) | 17.68 % |
|
|
Fastest Growing by Propulsion Type | Speed Pedelec |
|
|
Market Concentration | Low |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in alphabetical order. |
India E-bike Market Analysis
The India E-bike Market size is estimated at 27.00 million USD in 2024, and is expected to reach 60.93 million USD by 2029, growing at a CAGR of 17.68% during the forecast period (2024-2029).
27.00 Million
Market Size in 2024 (USD)
60.93 Million
Market Size in 2029 (USD)
24.97 %
CAGR (2017-2023)
17.68 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
82.23 %
value share, Pedal Assisted, 2023
Easy affordability, no fuel cost, high commuting, and maintaining health are the factors contributing to the growth of the pedal-assisted segment.
Largest Segment by Application Type
79.16 %
value share, City/Urban, 2023
High usage of bicycles by students and wage workers for daily commuting and benefits such as time-saving and cheap maintenance are the factors responsible for the growth of city/urban bikes.
Largest Segment by Battery Type
86.78 %
value share, Lithium-ion Battery, 2023
Extended range, quick charging capability, long running life, and declining prices gradually are the factors responsible for the higher usage of lithium batteries.
Fastest-Growing Segment by Propulsion Type
21.76 %
Projected CAGR, Speed Pedelec, 2024-2029
The speed pedelecs segment is growing rapidly due to consumers鈥� increasing interest in speedy bikes for various purposes, such as long-distance travel and adventure rides.
Leading Market Player
23.35 %
market share, Hero Cycles Limited, 2022
Domestic production, brand awareness among people, strong customer belief, and good customer support have made Hero the largest player in India.
PROPULSION SEGMENT MARKET OVERVIEW
- E-bikes have the potential to become India's best means of mobility. They are also an excellent means of transportation since they mix the convenience of a car with the excitement of riding, making them especially useful for recreational activities. Speed pedelec is expected to soon become the most practical pedal-assist bicycle alternative for shorter distances. As India's power and speed capabilities develop over the next years, people may gravitate toward the speed pedelec category. Similarly, the increasing popularity of throttle-assisted e-bikes, which transmit power directly to the motor without the need for manual pedaling, could be attributed to the segment's expansion.
- E-bikes are an eco-friendly option than traditional two-wheelers because they emit less carbon into the atmosphere. Many initiatives taken by the Indian government to decrease automotive pollution are boosting the growth of the market. The rising popularity of e-bikes is benefiting the sector due to lower ownership and maintenance costs. Advancements in charging infrastructure and India's expanding car sector provide end customers with attractive development opportunities.
- The increased availability of e-bikes through online and offline outlets is driving e-bike sales across the country. Key market organizations operating in India are investing extensively in R&D projects to increase product quality. They also focus on refining battery technology, combining lightweight materials, and investing in advertising campaigns to increase overall sales. As a result of these initiatives, the market is projected to expand, which may fuel the growth of electric bicycles in India in the next few years.
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India E-bike Market Trends
India's E-Bike adoption rates, though starting from a low base, show a consistent increase, indicating a growing market potential.
- The use of e-bikes has become increasingly popular in India over the past few years. Additionally, growing public awareness of the health benefits of cycling, increasing traffic congestion in India during rush hours, and expanding government initiatives to support e-bike adoption are all contributing to the country's e-bike adoption. Also, fuel expenditures and lower maintenance costs sped up the adoption rate of e-bikes among Indians to 0.10% in 2019 over 2018.
- The spreading of COVID cases and growth in the wave affected the bicycle business positively. Factors such as not using public or rented transportation to maintain social distancing have changed the commuting methods of the consumer, further encouraging people to invest in e-bikes, as it is one of the convenient and price-friendly options over other modes of commuting daily to offices and nearby places. Such factors accelerated the adoption rate by 0.60% in 2022 over 2021 across the country.
- E-bike adoption has increased with the return of commercial operations and the lifting of trade barriers of lockdown. The country's import and export activities have improved as a result of the removal of trade restrictions. The adoption rate for e-bikes is anticipated to increase to 5.00% in 2029 from 0.60% in 2022 as a result of customer attraction to e-bikes due to their features and advantages, such as fuel saving and time-saving.
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India shows a steady increase in the percentage of population commuting 5-15 km daily, indicating evolving travel distances.
- People in various cities have embraced the bicycle culture, and the demand for bicycles in India has increased over the past few years. However, commuter travel of 5-15 kilometers is still relatively low compared to other modes of transportation, as most people prefer to travel via various modes such as two-wheelers and public transportation. Less than 5% of the population chose to commute via bicycles to nearby places within 5-15 kilometers in 2019. However, in 2020, traveling between 5 and 15 kilometers increased as many people started exercising and using bicycles to travel to nearby marketplaces for buying essentials during the lockdown. Such factors increased the demand for bicycles in India in 2020 over 2019.
- The pandemic had a significant and beneficial impact on the Indian bicycle market. More Indians walked or cycled instead of using public transportation to nearby places. The introduction of e-bikes with advanced features and longer battery lives also encouraged people to choose bicycles for exercising and recreational weekend activities, which further increased the number of commuters traveling 5-15 kilometers in India in 2021 over 2020.
- People developed the habit of using bicycles to commute to nearby places. Currently, many people travel daily by bicycle within a radius of 5-15 kilometers to get to various places such as local markets. Due to the increased health advantages, carbon-free commutes, and time savings from avoiding traffic bottlenecks, more people are choosing to commute by bicycle. These factors are expected to increase commuter travel between 5 and 15 kilometers in India during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Post-2018, India's bicycle sales show recovery and steady growth, indicating a resilient market with growing demand.
- India's inflation rates indicate a peak in 2022, followed by a trend towards stabilization, reflecting responsive economic policies.
- India's e-bike battery prices are decreasing significantly, reflecting rapid market expansion and technological advancements.
- India's steady increase in dedicated bicycle lanes reflects a growing awareness and initiative towards promoting cycling for health and environmental benefits.
- The charging time for E-bikes in India is consistently reducing, indicating progress in charging infrastructure and battery technology.
- India's GDP per capita shows a steady upward trend, indicating consistent economic growth and development.
- India's bicycle rental market is experiencing explosive growth, significantly multiplying its value and highlighting a rapidly expanding sector.
- India's hyper-local delivery sector is experiencing significant growth, suggesting a rapid integration of localized digital services within consumer habits.
- India's significant and steady increase in trekker numbers reflects a growing interest in outdoor activities and exploration of its diverse natural landscapes.
- India's Traffic Congestion Index is high but slightly decreasing, indicating persistent congestion with marginal improvements over time.
India E-bike Industry Overview
The India E-bike Market is fragmented, with the top five companies occupying 35.09%. The major players in this market are Alpha Vector, Cultsport, EMotorad, Hero Cycles Limited and Tru E Bikes Pvt. Ltd (sorted alphabetically).
India E-bike Market Leaders
Alpha Vector
Cultsport
EMotorad
Hero Cycles Limited
Tru E Bikes Pvt. Ltd
Other important companies include Being Human, Motovolt, Nibe E-motor Limited, SJ Electric Vehicles Pvt. Ltd (Polarity Smart Bikes), Stryder.
*Disclaimer: Major Players sorted in alphabetical order.
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India E-bike Market News
- March 2023: Nibe Limited's board of directors accepts private placement and preferential issue fundraising plans up to Rs.104.40 Cr.
- November 2022: Motovolt Mobility has raised new funding in a pre-series A round of Rs 16 crore, which will be used to launch new products, launch marketing campaigns, and expand its footprint across India through more retail outlets.
- November 2022: EMotorad introduces the "Doodle v2" folding e-bike for Rs 49,999. It is available for purchase on the company's website as well as on Amazon and Flipkart.
Free with this Report
We offer a comprehensive and complimentary collection of data points on regional and country-level metrics, crucial to understanding the industry's core structure. Our resources include over 120 free charts, providing rare data across various countries. This collection encompasses an analysis of e-bike outlets, distribution channels, and their geographical distribution, examination of average selling prices for different e-bike models across regions, insights into consumer preferences and purchasing patterns, a detailed segmentation of the market, comprehensive insights into market trends and environmental impacts, an overview of key market players, an examination of the regulatory landscape, and projections for the future of the e-bike market.
India E-bike Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study鈥�
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Bicycle Sales
2.2. GDP Per Capita
2.3. Inflation Rate
2.4. Adoption Rate Of E-Bikes
2.5. Percent Population/Commuters With 5-15 Km Daily Travel Distance
2.6. Bicycle Rental
2.7. E-Bike Battery Price
2.8. Price Chart Of Different Battery Chemistry
2.9. Hyper-Local Delivery
2.10. Dedicated Bicycle Lanes
2.11. Number Of Trekkers
2.12. Battery Charging Capacity
2.13. Traffic Congestion Index
2.14. Regulatory Framework
2.15. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
3.1. Propulsion Type
3.1.1. Pedal Assisted
3.1.2. Speed Pedelec
3.1.3. Throttle Assisted
3.2. Application Type
3.2.1. Cargo/Utility
3.2.2. City/Urban
3.2.3. Trekking
3.3. Battery Type
3.3.1. Lead Acid Battery
3.3.2. Lithium-ion Battery
3.3.3. Others
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. Alpha Vector
4.4.2. Being Human
4.4.3. Cultsport
4.4.4. EMotorad
4.4.5. Hero Cycles Limited
4.4.6. Motovolt
4.4.7. Nibe E-motor Limited
4.4.8. SJ Electric Vehicles Pvt. Ltd (Polarity Smart Bikes)
4.4.9. Stryder
4.4.10. Tru E Bikes Pvt. Ltd
5. KEY STRATEGIC QUESTIONS FOR E BIKES CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter鈥檚 Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- INDIA E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- INDIA E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- INDIA E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- INDIA E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- INDIA E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- INDIA E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- INDIA E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- INDIA E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- INDIA E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- INDIA E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- INDIA E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- INDIA E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- INDIA E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- INDIA E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- INDIA E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- INDIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- INDIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- INDIA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- INDIA E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- INDIA E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- INDIA E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
India E-bike Industry Segmentation
Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. Cargo/Utility, City/Urban, Trekking are covered as segments by Application Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type.
- E-bikes have the potential to become India's best means of mobility. They are also an excellent means of transportation since they mix the convenience of a car with the excitement of riding, making them especially useful for recreational activities. Speed pedelec is expected to soon become the most practical pedal-assist bicycle alternative for shorter distances. As India's power and speed capabilities develop over the next years, people may gravitate toward the speed pedelec category. Similarly, the increasing popularity of throttle-assisted e-bikes, which transmit power directly to the motor without the need for manual pedaling, could be attributed to the segment's expansion.
- E-bikes are an eco-friendly option than traditional two-wheelers because they emit less carbon into the atmosphere. Many initiatives taken by the Indian government to decrease automotive pollution are boosting the growth of the market. The rising popularity of e-bikes is benefiting the sector due to lower ownership and maintenance costs. Advancements in charging infrastructure and India's expanding car sector provide end customers with attractive development opportunities.
- The increased availability of e-bikes through online and offline outlets is driving e-bike sales across the country. Key market organizations operating in India are investing extensively in R&D projects to increase product quality. They also focus on refining battery technology, combining lightweight materials, and investing in advertising campaigns to increase overall sales. As a result of these initiatives, the market is projected to expand, which may fuel the growth of electric bicycles in India in the next few years.
| Propulsion Type | |
| Pedal Assisted | |
| Speed Pedelec | |
| Throttle Assisted |
| Application Type | |
| Cargo/Utility | |
| City/Urban | |
| Trekking |
| Battery Type | |
| Lead Acid Battery | |
| Lithium-ion Battery | |
| Others |
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Market Definition
- By Application Type - E-bikes considered under this segment include city/urban, trekking, and cargo/utility e-bikes. The common types of e-bikes under these three categories include off-road/hybrid, kids, ladies/gents, cross, MTB, folding, fat tire, and sports e-bike.
- By Battery Type - This segment includes lithium-ion batteries, lead-acid batteries, and other battery types. The other battery type category includes nickel-metal hydroxide (NiMH), silicon, and lithium-polymer batteries.
- By Propulsion Type - E-bikes considered under this segment include pedal-assisted e-bikes, throttle-assisted e-bikes, and speed pedelec. While the speed limit of pedal and throttle-assisted e-bikes is usually 25 km/h, the speed limit of speed pedelec is generally 45 km/h (28 mph).
| Keyword | Definition |
|---|---|
| Pedal Assisted | Pedal-assist or pedelec category refers to the electric bikes that provide limited power assistance through torque-assist system and do not have throttle for varying the speed. The power from the motor gets activated upon pedaling in these bikes and reduces human efforts. |
| Throttle Assisted | Throttle-based e-bikes are equipped with the throttle assistance grip, installed on the handlebar, similarly to motorbikes. The speed can be controlled by twisting the throttle directly without the need to pedal. The throttle response directly provides power to the motor installed in the bicycles and speeds up the vehicle without paddling. |
| Speed Pedelec | Speed pedelec is e-bikes similar to pedal-assist e-bikes as they do not have throttle functionality. However, these e-bikes are integrated with an electric motor which delivers power of approximately 500 W and more. The speed limit of such e-bikes is generally 45 km/h (28 mph) in most of the countries. |
| City/Urban | The city or urban e-bikes are designed with daily commuting standards and functions to be operated within the city and urban areas. The bicycles include various features and specifications such as comfortable seats, sit upright riding posture, tires for easy grip and comfortable ride, etc. |
| Trekking | Trekking and mountain bikes are special types of e-bikes that are designed for special purposes considering the robust and rough usage of the vehicles. These bicycles include a strong frame, and wide tires for better and advanced grip and are also equipped with various gear mechanisms which can be used while riding in different terrains, rough grounded, and tough mountainous roads. |
| Cargo/Utility | The e-cargo or utility e-bikes are designed to carry various types of cargo and packages for shorter distances such as within urban areas. These bikes are usually owned by local businesses and delivery partners to deliver packages and parcels at very low operational costs. |
| Lithium-ion Battery | A Li-ion battery is a rechargeable battery, which uses lithium and carbon as its constituent materials. The Li-Ion batteries have a higher density and lesser weight than sealed lead acid batteries and provide the rider with more range per charge than other types of batteries. |
| Lead Acid Battery | A lead acid battery refers to sealed lead acid battery having a very low energy-to-weight and energy-to-volume ratio. The battery can produce high surge currents, owing to its relatively high power-to-weight ratio as compared to other rechargeable batteries. |
| Other Batteries | This includes electric bikes using nickel鈥搈etal hydroxide (NiMH), silicon, and lithium-polymer batteries. |
| Business-to-Business (B2B) | The sales of e-bikes to business customers such as urban fleet and logistics company, rental/sharing operators, last-mile fleet operators, and corporate fleet operators are considered under this category. |
| Business-to-Customers (B2C) | The sales of electric scooters and motorcycles to direct consumers is considered under this category. The consumers acquire these vehicles either directly from manufacturers or from other distributers and dealers through online and offline channel. |
| Unorganized Local OEMs | These players are small local manufacturers and assemblers of e-bikes. Most of these manufacturers import the components from China and Taiwan and assemble them locally. They offer the product at low cost in this price sensitive market which give them advantage over organized manufacturers. |
| Battery-as-a-Service | A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge |
| Dockless e-Bikes | Electric bikes that have self-locking mechanisms and a GPS tracking facility with an average top speed of around 15mph. These are mainly used by bike-sharing companies such as Bird, Lime, and Spin. |
| Electric Vehicle | A vehicle which uses one or more electric motors for propulsion. Includes cars, scooters, buses, trucks, motorcycles, and boats. This term includes all-electric vehicles and hybrid electric vehicles |
| Plug-in EV | An electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. In this report we use the term for all-electric vehicles to differentiate them from plug-in hybrid electric vehicles. |
| Lithium-Sulphur Battery | A rechargeable battery that replaces the liquid or polymer electrolyte found in current lithium-ion batteries with sulfur. They have more capacity than Li-ion batteries. |
| Micromobility | Micromobility is one of the many modes of transport involving very-light-duty vehicles to travel short distances. These means of transportation include bikes, e-scooters, e-bikes, mopeds, and scooters. Such vehicles are used on a sharing basis for covering short distances, usually five miles or less. |
| Low Speed Electric Vehicls (LSEVs) | They are low speed (usually less than 25 kmph) light vehicles that do not have an internal combustion engine, and solely use electric energy for propulsion. |
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Research Methodology
糖心vlog传媒 follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and聽forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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