Bharat Book Bureau Provides the Trending Market Research Report on “Electric Bikes Market in India 2022 – 2027” under Automotive Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.

Market insights:
In FY 2022, 231,338 units of electric bikes were sold in India. Electric Bikes Market is expected to reach 2,464,750 units in FY 2027, expanding at a compound annual growth rate (CAGR) of ~48.75% during the FY 2023 – FY 2027 forecast period. Electric bikes have become a common mode of daily transport among urban office-goers and daily commuters.

Government initiatives:
In April 2015, Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) was implemented by the 'Department of Heavy Industry ‘ in association with ‘Society of Indian Automobile Manufacturers’. The second phase of FAME is to support approximately 7000 e-buses, 500,000 e-3 wheelers, 55,000 e-4 wheeler passenger cars, and 1 million e-2 wheelers through subsidies. 2877 charging stations are being constructed at 68 locations as part of the Fame India scheme's second phase, which will cost INR 5 Bn.

COVID-19 impact analysis:
Before the COVID-19 outbreak, the demand for electric bikes was high, mainly driven by policy measures introduced by the government to encourage electrification of vehicles and reduce pollution. However, during the first lockdown period of April 2020 – June 2020, the sale volume of electric bikes declined by almost 55%. After the lockdown was eased, the impacts of the COVID-19 situation was still an issue for the public transportation sector, as the production units struggled to function at full capacity.

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