Surging Ahead: How Electric Two-Wheelers Are Rapidly Gaining Popularity with the Diverse Indian Consumer

The introduction of electric two-wheeler (E2Ws) in the market has been disrupting the 2W market over the past few years. From a mere ~45k E2W units sold in FY 2021 it has grown to ~950k units in FY 2024.

With 80k+ customers coming in every month (in FY24), a nuanced understanding of what really drives consumer choices becomes crucial in targeting the right consumer with a well-designed product, pricing, promotion & channel strategy, to further push the E2W adoption in India.

To gain a deeper understanding of the Indian 2W consumer, we undertook an extensive study to uncover the choice sets of varied consumers. We spoke to a diverse group of consumers to arrive at a set of ~50+ functional & emotive choice drivers for 2W which were then tested through an extensive survey of ~2750 participants. While demographics and geographies provide an insight into varied uptake of 2Ws in India, it is intriguing that other contextual variables play a much more crucial role. Using this analysis, we were able to map out the different consumer demand spaces existing in the 2W market and decode the perception of E2W in the minds of the Indian consumer.