• Overall Two-Wheeler market is anticipated to record >20% YoY growth in CY2025
• Ola Electric (35%) led the Indian E2W market followed by TVS (21%)

New Delhi/Gurugram, 20^th Feb 2025: The Indian electric two-wheeler (E2W) market witnessed a stellar 46% year-on-year (YoY) growth in CY2024, as per the latest insights from CyberMedia Research (CMR)’s Two Wheeler Market Review Report for CY2024. The Connected E2W market also saw a robust 35% YoY growth, driven by the rising demand for connected mobility solutions, enhanced safety features, and fleet management efficiency.

According to Shipra Sinha, Senior Analyst – Smart Mobility Practice, CyberMedia Research (CMR), “In CY2024, the E2W segment experienced remarkable growth, propelled by the increasing consumer preference for cost-effective and eco-friendly mobility solutions. While personal mobility remained a key driver, the growing demand for last-mile deliveries, particularly in e-commerce and food delivery, significantly boosted adoption across urban, semi-urban, and rural markets.”

Key Technology Trends and Market Landscape in 2024

• Market Leadership: Ola Electric led the E2W market with 35% market share, followed by TVS (21%), Bajaj (20%), and Ather Energy (12%).
• Connected Growth: The overall connected two-wheeler segment grew by 40% YoY, with 77% of E2Ws equipped with connected technology in CY2024.
• Digital Cluster Adoption: The adoption of digital instrument clusters in two-wheelers surged by 38% YoY, offering riders real-time battery monitoring, navigation, and smart connectivity.
• The Touchscreen technology market in two-wheelers accounted for around 2% of the overall 2-wheeler market. The touchscreen technology has expanded in the premium E2W segment (>INR 1,00,000 price segment). Key models featuring 7-inch touchscreen displays include Ola S1 Air, TVS iQube ST, Ather 450X, and Hero Vida V1 Plus.

Future Market Outlook

CMR anticipates E2Ws to capture 12-13% share in the overall two-wheeler market in CY2025.

Divya Maurya, Analyst – Smart Mobility Practice, CMR, added, “The future of India’s E2W market is set for accelerated transformation, as increasing smartphone penetration and affordable data plans make telematics more accessible, enabling real-time tracking, remote diagnostics, and predictive maintenance. OEMs’ continued focus on enhancing battery power, increasing range, and strengthening safety features will be key to sustaining long-term market expansion.”