Electric 2 Wheelers: Nascent Market at the Cusp of Disruption
The Electric 2-wheeler (E2W) market, while nascent, is fast emerging as a new space for innovation, activity and potential scale with demand expected to be driven by both the B2C and B2B segments. It is abuzz with excitement as old and new players are introducing and bringing in exciting products, new forms of technology, models of distribution, and value-added customer services every day. While the market is considerably small today with ~140K units sold in FY21, signs of explosion are already visible. Sales of high-speed E2W in the first half of FY22 have already surpassed their entire sales in FY21.
As volumes explode, the report lays out four foundational shifts that the market will experience. These fundamental shifts will change everything about the market that we know today. With these shifts, the E2W industry will start moving away from the ICE industry and will start taking a new shape. The report also seeks to decode the chatter in the E2W market and assess the potential vectors for its evolution over the next 5-7 years.