India e-bike market was valued at USD 1.02 million in 2020, and it is expected
to reach USD 30 million by 2026.
2021 with the economy opening, growth in sales of e-bikes does not seem to be
slowing as they doubles compared to the previous year. Deloitte anticipated
that between 2020 and 2023, 130 million e-bikes would be sold worldwide.
Interestingly, it’s the e-bikes and not the cars that have been currently
stealing the show as the world’s bestselling electric vehicle, or EV. So, in
line with the trend e-bikes undoubtedly have the potential to transform urban
according to 2018 report of The Energy and Resources Institute (TERI), which is
supported by All India Cycle Manufacturers’ Association (AICMA), if
two-wheelers and four-wheelers were replaced by bicycles for short-distance
trips, then it can provide an annual benefit of around Rs 1.8 trillion, and if
50% of all trips under 8 km were done through cycling, it will result into
energy savings of up to 0.35 million tonnes.
What has triggered popularity of e-bikes?
COVID-19 pandemic forced the people to have their own e-bikes for commuting
instead of using crowded public transport.
the traffic congestion in Indian cities is growing day by day. With the rising
number of vehicles, the current infrastructure is incompetent to meet needs in
every town and lanes. Traffic congestion obstructs the efficiency of people
with a lot of time lost waiting. As a result, the government today is
encouraging the sales for e-bikes as they occupy lesser space resulting in more
minor traffic jams and also reduced carbon footprint on the environment.
there has also been a hike in the FAME II subsidy, there is an ever-increasing
price of petrol (even after the Central Excise duty cut on November 4), which
have added to the popularity of these emission-free vehicles.
Industry headed for success!
the rapid pace of demand for electric two-wheelers, sales can only grow. So,
the year 2021 has surely pinned a promising 2022 for the e-bike players. Despite
the trend going upward, India is still in the very early stages of adopting
EV's. It therefore can be a huge market for e-bike companies. As most people
are now aware of traffic congestion and pollution, India is looking towards a
cleaner mode of transportation to tackle the situation.
manufacturing capacities to new vehicle launches, there’s a lot more in the
pipeline in the coming year. But zooming electric vehicle sales might face
charging infrastructure as speed bumps. But hopefully government’s initiatives
like reduction of taxes on EV's and establishment of charging infrastructure
attracting the investments in electric mobility and services will help overcome
the issue and add to the continued trend- increase popularity and adoption.
Over 20 states across India have announced EV-friendly policies.
views expressed by the author in this article are his own; Motown India is
placing it here on this platform as an authored article)
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