Market Size of india e-bike Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 27.00 Million |
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Market Size (2029) | USD 60.93 Million |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 17.68 % |
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Fastest Growing by Propulsion Type | Speed Pedelec |
Major Players |
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*Disclaimer: Major Players sorted in no particular 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’ 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.
Understand The Key Trends Shaping This Market
