Indian Electric Two-Wheeler Market Size, Share, Forecast 2022-2028
The Indian electric two-wheeler market was worth USD 64.5 million in 2020 and is further projected to reach USD 360.3 million by 2027, at a CAGR of 27.6% during the forecast period (2021-2027). The growing concern over air pollution is pushing the automobile industry to reduce its carbon footprint, bolstering the need for electric cars on the market. Additionally, the market is primarily driven by strict emission norms/regulations, government incentives, and increasing environmental awareness. The government also extends its support to electric two-wheelers through subsidies, thus, encouraging the adoption of these vehicles as a ‘good replacement’ of the conventional ones. Growth Drivers Growing Concerns Over Environmental Pollution On the Environmental Pollution Index, India is among the bottom five countries in the environmental health category. As far as air quality is concerned, India’s CO2 emissions rate is increasing every year owing to the emission of tox...