India has gained great success in the EV industry; however, the preferences and evolving desires of Indian consumers for electric vehicles (EVs) are changing rapidly. Consumers are searching for more affordable, stylish, and sustainably responsible ways to meet their mobility demands as electric two-wheelers become more popular. However, the success of EVs in India is hugely dependent on the existence and accessibility of charging infrastructure. So, moving forward, we’ll take a deep dive into the journey and some facts about consumers’ evolving preferences for electric two-wheelers, therefore keep scrolling if you’re interested in purchasing one.
The Rise of Electric Two-Wheelers in India
The widespread availability of a wide range of products, dependable technological advantages, changing customer buying habits, top speed, and flexible EV models are the major reasons why Indian consumers today favour electric two-wheelers. Electric motorcycles and scooters have made a strong impression on consumers not only because of their stylish models but also because they are cost-effective in the long run.
Let’s dive into the data on rising electric two-wheeler demand.
Some Facts for you: Electric Two-wheeler Demand
1. The Indian electric two-wheeler market was worth USD 893 million in 2022, and it is expected to increase at a compound yearly growth rate of 27.30% from 2022–2030, reaching USD 6.161 million by 2030.
2. According to the most recent sales data for October 2023, the electric two-wheeler segment has grown in popularity. Total monthly sales climbed by 17% compared to September 2023, reaching 74,252 units sold.
3. An overview of the electric two-wheeler sales in India 2023 September and October sales results is given in the following table, which also shows the month-over-month (MOM) growth rates:
| EV BRANDS | OCTOBER 2023 SALES | SEPTEMBER 2023 SALES | MONTHLY GROWTH |
| OLA | 23,644 units | 18,615 units | 27% |
| TVS MOTOR | 16,340 units | 15,576 units | 5% |
| BAJAJ AUTO | 8,289 units | 7,087 units | 17% |
| HERO MOTO CORP | 1,914 units | 730 units | 261% |
| LECTRIX | 1,139 units | 735 units | 55% |
What are the current trends in the electric two-wheeler market?
“Electric two-wheeler surely states style and sustainability.” Well, thanks to technological advancements and original equipment manufacturers (OEM), who have a clean slate and are innovating at each stage to provide consumers with a smooth EV experience, the electric two-wheeler market has caught up with modern trends. Manufacturers are constantly developing new technologies to improve performance, range, design, battery technology, connectivity features, motor efficiency, and lightweight materials. As a result, electric two-wheelers are becoming increasingly attractive to consumers as compared to electric cars.
1. Urban Mobility Solution: The electric two-wheeler industry is witnessing a surge in the adoption of urban mobility solutions as a means of addressing urban traffic jams and the demand for environmentally friendly transportation.
2. Rising Popularity and Awareness: The adoption of electric two-wheelers has increased due to growing environmental awareness and technological advancements that result in better-performing and more inexpensive electric vehicles.
3. Government Initiatives: The Indian government has been successful in developing the FAME India scheme, resulting in an expansion of EV industries and charging infrastructure. Various state governments are offering incentives and subsidies to promote the adoption of electric vehicles.
4. Increasing Charging Network: A major contributing element to the broad adoption of electric bikes in India is the development of the charging infrastructure. To improve user convenience while charging electric two-wheelers, efforts have been made to broaden the charging networks.
5. Modern Feature Integration: Electric two-wheelers are going hand in hand with modern technology like connectivity possibilities, mobile apps, IoT integration, and many more innovative features to ensure a smooth EV ride and more electric two-wheeler adoption in India.
The power of customization is shown in the growth and trends of the electric two-wheeler industry. It highlights the rising desire by consumers for electric vehicles that complement their individual choices and styles. The consumer can choose their preferred colour, brand, features, and a host of other options that enhance the EV owner’s life by easy and sustainable travel.
The Consumer’s Evolved Purchasing journey
The upward trend of consumer preferences towards electric two-wheelers is intriguing, linking advances in technology, environmental awareness, and evolving social perspectives. There has been an increased rise in demand and acceptance of electric two-wheelers in recent years, representing a major transformation from traditional gasoline-powered choices.
Moreover, a lot of Indian buyers use apps or websites to buy electric vehicles; everything from booking to arranging delivery becomes smooth. For instance, more than 85% of consumers begin their EV shopping experience online, and over 50% are likely to buy electric vehicles online. The ease of at-home delivery, test drives, and on-demand service is now valued by almost 70% of consumers.
An important factor contributing to the change in consumer choices is the increased consciousness of environmental issues and infrastructure of electric vehicle charging stations.
People are looking for more sustainable options because of concerns over air pollution, climate change, and the rapid depletion of oil and gas. Electric two-wheelers are in tune with this growing environmental awareness because they are energy-efficient and emission-free.
It’s the Time to Join the Electric Revolution.
Be part of the EV revolution by adopting an electric two-wheeler from your favourite brand, but keep the following points in mind before proceeding
1. Consider purchasing an electric two-wheeler for its environmental and technological benefits.
2. It’s crucial to investigate electric two-wheeler possibilities, taking into account aspects like miles of range, performance, and price.
3. Evaluating eco-friendly features such as regenerative brakes, energy-efficient motors, and recyclable batteries contributes to a sustainable mode of transportation.
4. Charging infrastructure is crucial when it comes to owning an electric two-wheeler, including the availability of charging stations and home charging options.
5. It is suggested that each person test-ride a variety of models to determine which one best suits their needs.
Conclusion:
In summary, a variety of factors, including economic concerns, shifting lifestyles, urbanisation, environmental awareness, and technological improvements, have contributed to the explosive growth in two-wheeler sales.
The two-wheeler market is one of the most dynamic and robust segments of the global automobile industry, adjusting to changing consumer preferences and social trends as it goes through revolutionary changes.
The wheel of the electric vehicle industry will continue to turn towards a future wherein two-wheelers play an increasingly important part in how consumers move and enjoy the world because they represent a lifestyle choice that appeals to a wide range of people.
The growing number of people driving electric two-wheelers is giving the industry a chance to upgrade and boost customer satisfaction.
