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India Electric Rickshaw Battery Market Research Report: By Vehicle, Battery Capacity, End Use - Industry Size, Trend, Growth and Demand Forecast to 2024

  • ID: 5010708
  • Report
  • February 2020
  • Region: India
  • Prescient & Strategic Intelligence Private Limited

FEATURED COMPANIES

  • Amara Raja Batteries Ltd.
  • Eastman Auto & Power Ltd.
  • Exide Industries Ltd.
  • Gem Batteries Pvt. Ltd.
  • Grand Batteries Pvt. Ltd.
  • Okaya Power Pvt. Ltd.
From 384.0 thousand units in 2018, the Indian electric rickshaw market is predicted to grow to the production capacity of 935.5 thousand units by 2024, exhibiting a 15.9% CAGR during the forecast period (2019-2024). The factors positively influencing the growth of the market are the declining prices of the battery and increase in supportive measures by the government, in terms of environmental policies and monetary incentives. Electric rickshaws are majorly used as load and passenger carriers.

Based on motor power, the Indian electric rickshaw market is classified into < 1,000W, 1,000-1,500W, and >1,500W. In 2018, with over 50.0% of revenue share, the 1,000-1,500 W classification was the largest in the market. This was attributed to the ideal cost-benefit ratio offered by vehicles fitted with batteries of this power range. The classification of >1,500 W is predicted to register the fastest growth in the forecast period, as the demand for high-speed rickshaws would continue to rise in the nation.

The Indian electric rickshaw market is categorized into Tripura, Assam, Jharkhand, Punjab, Uttarakhand, Chhattisgarh, Haryana, Bihar, Rajasthan, West Bengal, Delhi, Uttar Pradesh, and Madhya Pradesh, based on state. During the historical period (2014-2018), the largest market for these rickshaws was in Delhi.Amidst increasing air pollution, the Delhi government announced a subsidy of INR 30,000 on electric rickshaws, which helped boost their sales. However, in the forecast period, the state of Uttar Pradesh is predicted to be the largest market due to their rising demand from Tier-1,2 cities.

The Indian electric rickshaw market is observing the trend of the inclusion of solar-operated electric rickshaws. An electric rickshaw normally makes use of a nominal battery, which stores electricity from conventional outlets. A solar-powered electric rickshaw is capable of charging itself on-the-go, as it is fitted with the photovoltaic technology for collecting solar energy and converting it into electric energy to power the rickshaw.The solar-powered variants are thought to be more efficient than normal electric vehicles, and the solar panel increases the vehicle lifecycle by 10 years.

The Indian electric rickshaw market is witnessing growth due to the implementation of stringent environment-related policies to take care of the rising air pollution. One of the major causes of air pollution is the emissions from vehicles; the Indian government is taking active measures to popularize electric vehicles among people. Electric vehicles are expensive than their conventional-fuel counterparts, therefore, many subsidies and incentives are being provided to vehicle manufacturers and buyers. Based on the product model and the original equipment manufacturer, subsidies in the range of INR 25,000 and INR 61,000 are being provided under the FAME scheme.

The reduction in the prices of automobile batteries may boost the Indian electric rickshaw market. Due to their low cost, majority of the electric rickshaws in the country use sealed lead acid (SLA) batteries. Even though they seem a better choice at first, SLA batteries pose a serious threat to human health and the environment, if they are not disposed of properly. Therefore, the manufacturers are focusing on using lithium-ion batteries as an alternative to the SLA ones, as the former are safer and provide longer charge to vehicles.

Hence, the market for electric autorickshaws in India would continue growing in the forecast period due to the rising requirement for environment-friendly transport.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Amara Raja Batteries Ltd.
  • Eastman Auto & Power Ltd.
  • Exide Industries Ltd.
  • Gem Batteries Pvt. Ltd.
  • Grand Batteries Pvt. Ltd.
  • Okaya Power Pvt. Ltd.
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Vehicle
1.3.2 Market Segmentation by Battery Capacity
1.3.3 Market Segmentation by End Use
1.3.4 Market Segmentation by State
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Volume
1.3.6.2 Value
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By state
2.2.1.2 By industry participant
2.3 Market Size Estimation
2.3.1 Electric Rickshaw Market Size Estimation
2.3.2 Electric Rickshaw Battery Market Size Estimation
2.3.2.1 OEM market size estimation
2.3.2.2 Aftermarket size estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Vehicle
4.1.1.1 Passenger carrier
4.1.1.2 Load carrier
4.1.2 By Battery Capacity
4.1.2.1 < 101 Ah
4.1.2.2 >101 Ah
4.1.3 By End Use
4.1.3.1 OEM
4.1.3.2 Replacement
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Growing demand for electric rickshaws with higher battery capacity
4.3.1.2 Use of li-ion batteries
4.3.1.3 Increasing penetration of electric loader rickshaws
4.3.2 Drivers
4.3.2.1 Proliferation of electric rickshaws on Indian roads
4.3.2.2 Increasing average age of electric rickshaws
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Lack of clarity on operational guidelines for electric rickshaws
4.3.3.2 Substandard batteries offered by local players
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 GST-driven consolidation to offer opportunity to organized players
4.3.4.2 Replacement market offering secular growth opportunity
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Intensity of Rivalry
4.4.4 Threat of New Entrants
4.4.5 Threat of Substitutes

Chapter 5. Electric Rickshaw Operation Patterns and Characteristics
5.1 Type and Length of Trips
5.2 Frequency of Trips

Chapter 6. India Market Size and Forecast
6.1 By Vehicle
6.2 By Battery Capacity
6.3 By End Use
6.4 By State

Chapter 7. City Level Market Size Estimation
7.1 Electric Rickshaw Battery Market Size Estimation
7.2 NCT Delhi Electric Rickshaw Battery Market Size Estimation

Chapter 8. Competitive Landscape
8.1 Competitive Scenario
8.2 Market Share Analysis of Key Players
8.3 Product and Warranty Analysis of Major Market Players
8.4 Battery Suppliers for Major Electric Rickshaw Manufacturers

Chapter 9. Battery Life and Usage Analysis
9.1 Battery Life and Cost Analysis
9.2 Battery Failure Rate, By Capacity
9.3 Battery Usage Patterns

Chapter 10. Company Profiles
10.1 Exide Industries Ltd.
10.1.1 Business Overview
10.1.2 Product and Service Offerings
10.1.3 Key Financial Summary
10.2 Amara Raja Batteries Ltd.
10.2.1 Business Overview
10.2.2 Product and Service Offerings
10.2.3 Key Financial Summary
10.3 Eastman Auto & Power Ltd.
10.3.1 Business Overview
10.3.2 Product and Service Offerings
10.4 Okaya Power Pvt. Ltd.
10.4.1 Business Overview
10.4.2 Product and Service Offerings
10.5 Sparco Batteries Pvt. Ltd.
10.5.1 Business Overview
10.5.2 Product and Service Offerings
10.6 Jay Ace Technologies Ltd.
10.6.1 Business Overview
10.6.2 Product and Service Offerings
10.7 Grand Batteries Pvt. Ltd.
10.7.1 Business Overview
10.7.2 Product and Service Offerings
10.8 Gem Batteries Pvt. Ltd.
10.8.1 Business Overview
10.8.2 Product and Service Offerings

Chapter 11. Appendix
11.1 Abbreviations
11.2 Sources and References
11.3 Related Reports

List of Tables
TABLE 1 ANALYSIS PERIOD OF THE STUDY
TABLE 2 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
TABLE 3 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
TABLE 4 ANALYSIS OF TRIPS MADE BY ELECTRIC RICKSHAWS
TABLE 5 TRIP FREQUENCY ANALYSIS OF ELECTRIC RICKSHAWS
TABLE 6 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY VEHICLE, ‘000 UNITS (2014-2019)
TABLE 7 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY VEHICLE, ‘000 UNITS (2020-2024)
TABLE 8 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY VEHICLE, $M (2014-2019)
TABLE 9 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY VEHICLE, $M (2020-2024)
TABLE 10 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY BATTERY CAPACITY, ‘000 UNITS (2014-2019)
TABLE 11 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY BATTERY CAPACITY, ‘000 UNITS (2020-2024)
TABLE 12 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY BATTERY CAPACITY, $M (2014-2019)
TABLE 13 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY BATTERY CAPACITY, $M (2020-2024)
TABLE 14 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY END USE, ‘000 UNITS (2014-2019)
TABLE 15 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY END USE, ‘000 UNITS (2020-2024)
TABLE 16 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY END USE, $M (2014-2019)
TABLE 17 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY END USE, $M (2020-2024)
TABLE 18 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY STATE, ‘000 UNITS (2014-2019)
TABLE 19 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY STATE, ‘000 UNITS (2020-2024)
TABLE 20 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY STATE, $M (2014-2019)
TABLE 21 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY STATE, $M (2020-2024)
TABLE 22 ELECTRIC RICKSHAW BATTERY MARKET SIZE, ‘000 UNITS (2019)
TABLE 23 DELHI ELECTRIC RICKSHAW BATTERY MARKET SIZE, ‘000 UNITS (2019)
TABLE 24 PRODUCT AND WARRANTY ANALYSIS OF MAJOR MARKET PLAYERS
TABLE 25 BATTERY SUPPLIERS FOR MAJOR OEMS
TABLE 26 BATTERY CAPACITY, COST, AND WARRANTY ANALYSIS
TABLE 27 BATTERY FAILURE RATE, BY CAPACITY
TABLE 28 EXIDE INDUSTRIES LTD. - AT A GLANCE
TABLE 29 EXIDE INDUSTIRES LTD. - KEY FINANCIAL SUMMARY
TABLE 30 AMARA RAJA BATTERIES LTD. - AT A GLANCE
TABLE 31 AMARA RAJA BATTERIES LTD. - KEY FINANCIAL SUMMARY
TABLE 32 EASTMAN AUTO & POWER LTD. - AT A GLANCE
TABLE 33 OKAYA POWER PVT. LTD. - AT A GLANCE
TABLE 34 SPARCO BATTERIES PVT. LTD. - AT A GLANCE
TABLE 35 JAY ACE TECHNOLOGIES LTD. - AT A GLANCE
TABLE 36 GRAND BATTERIES PVT. LTD. - AT A GLANCE
TABLE 37 GEM BATTERIES PVT. LTD. - AT A GLANCE

List of Figures
FIG 1 RESEARCH SCOPE
FIG 2 RESEARCH METHODOLOGY
FIG 3 BREAKDOWN OF PRIMARY RESEARCH BY STATE
FIG 4 BREAKDOWN OF PRIMARY RESEARCH BY INDUSTRY PARTICIPANT
FIG 5 DATA TRIANGULATION APPROACH
FIG 6 INDIA ELECTRIC RICKSHAW BATTERY MARKET SUMMARY
FIG 7 VALUE CHAIN ANALYSIS
FIG 8 PORTER’S FIVE FORCES ANALYSIS
FIG 9 BARGAINING POWER OF BUYERS
FIG 10 BARGAINING POWER OF SUPPLIERS
FIG 11 INTENSITY OF RIVALRY
FIG 12 THREAT OF NEW ENTRANTS
FIG 13 THREAT OF SUBSTITUTES
FIG 14 STATE-WISE DISTRIBUTION OF THE SAMPLE SIZE
FIG 15 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY VEHICLE, ‘000 UNITS (2014-2024)
FIG 16 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY BATTERY CAPACITY, ‘000 UNITS (2014-2024)
FIG 17 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY END USE, ‘000 UNITS (2014-2024)
FIG 18 INDIA ELECTRIC RICKSHAW BATTERY MARKET, BY STATE, ‘000 UNITS (2014-2024)
FIG 19 INDIA ELECTRIC RICKSHAW BATTERY MARKET SHARE OF KEY PLAYERS (2019)
FIG 20 EXIDE INDUSTIRES LTD. - REVENUE SPLIT BY GEOGRAPHY (2019)
FIG 21 AMARA RAJA BATTERIES LTD. - REVENUE SPLIT BY GEOGRAPHY (2019)
Note: Product cover images may vary from those shown
  • Exide Industries Ltd.
  • Amara Raja Batteries Ltd.
  • Eastman Auto & Power Ltd.
  • Okaya Power Pvt. Ltd.
  • Sparco Batteries Pvt. Ltd.
  • Grand Batteries Pvt. Ltd.
  • Gem Batteries Pvt. Ltd.
Note: Product cover images may vary from those shown

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