Market Size of Indian E-Bike Rental Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 6.84 Million |
| Market Size (2029) | USD 11.88 Million |
| CAGR (2024 - 2029) | 12.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Indian E-Bike Rental Market Analysis
The Indian E-Bike Rental Market size is estimated at USD 6.84 million in 2024, and is expected to reach USD 11.88 million by 2029, growing at a CAGR of 12.10% during the forecast period (2024-2029).
Electric bike rental services, particularly for two-wheelers, have seen a significant rise in India over recent years due to various factors, including the growing awareness about the benefits of electric vehicles, the increasing availability of charging infrastructure, and the government’s push toward the adoption of electric vehicles. With the growing need to reduce emissions across the country, the demand for phasing out existing conventional fuel-based vehicles with electric mobility is growing, creating ample opportunities for the electric bike rental business.
Several state governments across the country have been adopting various initiatives, such as reducing taxes on electric vehicles and establishing charging infrastructure to attract investments in electric mobility and related services. For instance,
- In July 2023, the Ministry of Goa mandated registering rental electric bikes for tourists by 2024.
Furthermore, the adoption of charging infrastructure has improved significantly in recent years, making it easier for people to use electric mobility for longer distances. Several players in the market are providing electric vehicle rental services and focusing on developing charging infrastructures. This, in turn, is anticipated to boost the Indian electric bike rental market over the forecast period.
Indian E-Bike Rental Industry Segmentation
E-bike rental is a service wherein an e-bike fleet operating company lends the e-bike to customers for a specific period at a pre-defined cost. The scope of the study includes e-mountain bikes, e-cargo bikes, and e-mountain bikes.
The Indian electric bike rental market is segmented into vehicle type and application type. By vehicle type, the market is segmented into pedal-assisted and throttle-assisted. By application type, the market is segmented into city/urban and cargo.
The report offers market sizes and forecasts for the Indian electric bike rental market in terms of value (USD) for all the above segments.
| Application Type | |
| Urban/City | |
| Cargo |
| Vehicle Type | |
| Pedal-Assisted | |
| Throttle-Assisted |
Indian E-Bike Rental Market Size Summary
The Indian electric bike rental market is experiencing significant growth, driven by increasing awareness of the benefits of electric vehicles and supportive government policies. The market is expanding as more consumers and businesses recognize the need to transition from conventional fuel-based vehicles to electric mobility solutions. This shift is further supported by the development of charging infrastructure and initiatives by state governments to reduce taxes and attract investments in electric mobility. The pedal electric cycle segment, in particular, is gaining traction due to its environmental benefits and the rising demand for sustainable transportation options. These e-bikes offer a greener alternative to traditional vehicles, producing zero emissions and providing an efficient mode of transport for urban areas plagued by congestion and pollution.
The market is characterized by the presence of established players and startups focusing on innovative services and partnerships to enhance their offerings. Companies like Yulu Bikes Pvt Ltd, Bounce Infinity, and Zypp Electric are actively expanding their fleets and collaborating with other businesses to promote e-bike rentals. Government initiatives, such as the National Urban Transport Policy and the National Electric Mobility Mission Plan, are playing a crucial role in promoting e-bike adoption. These efforts are expected to drive the market's growth, particularly in tier 1 cities, where e-bikes are becoming a popular choice for daily commuters. The market's expansion is also fueled by the increasing preference for e-bikes in recreational and adventure activities, making them an attractive option for a broader range of consumers.
Indian E-Bike Rental Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Growing Adoption of Electric Vehicles is Anticipated to Boost the Market
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1.2 Market Restraints
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1.2.1 Limited EV Charging Infrastructure May Hinder the Market Growth
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application Type
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2.1.1 Urban/City
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2.1.2 Cargo
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2.2 Vehicle Type
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2.2.1 Pedal-Assisted
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2.2.2 Throttle-Assisted
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Indian E-Bike Rental Market Size FAQs
How big is the Indian E-Bike Rental Market?
The Indian E-Bike Rental Market size is expected to reach USD 6.84 million in 2024 and grow at a CAGR of 12.10% to reach USD 11.88 million by 2029.
What is the current Indian E-Bike Rental Market size?
In 2024, the Indian E-Bike Rental Market size is expected to reach USD 6.84 million.
