Electric Rickshaw Battery Global Market Report 2025

The electric rickshaw battery market size has grown rapidly in recent years. It will grow from $1.43 billion in 2024 to $1.66 billion in 2025 at a compound annual growth rate (CAGR) of 16.6%. The growth during the historic period can be attributed to increasing adoption of electric vehicles in urban areas, growing government support for electric mobility, rising awareness of environmental concerns, higher demand for last-mile connectivity, and increasing investments in green transportation.

The electric rickshaw battery market size is expected to see rapid growth in the next few years. It will grow to $3.03 billion in 2029 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period is expected to result from expansion of battery manufacturing capacity, rising demand for cost-efficient urban transport, greater focus on low-emission transportation, increasing demand for environmentally friendly solutions, and wider availability of low-cost lithium-ion batteries. Key trends in the forecast period include advancements in battery swapping technology, integration of advanced lithium-ion batteries, development of smart battery management systems, innovations in fast-charging solutions, and improvements in battery recycling practices.

The rising demand for electric vehicles is expected to drive growth in the electric rickshaw battery market. Electric vehicles run on rechargeable batteries, providing an eco-friendly alternative to traditional fuel-powered vehicles. This demand is increasing as governments worldwide implement stricter emission regulations and offer incentives to promote cleaner transportation. Electric rickshaw batteries store and supply the electrical energy required to power the motor, ensuring reliable performance, longer driving ranges, and environmentally friendly operation while reducing dependence on fossil fuels. For example, in August 2025, the European Automobile Manufacturers Association reported year-on-year growth of 39.1 percent for battery-electric cars and 14.3 percent for hybrid-electric cars in July 2025, while plug-in hybrid electric cars saw a 56.9 percent increase, marking the fifth consecutive month of robust growth. Consequently, rising electric vehicle adoption is fueling the demand for electric rickshaw batteries.

Major companies in the electric rickshaw battery market are developing lithium-ion batteries to improve energy efficiency, extend battery life, reduce charging time, and support sustainable urban mobility. Lithium-ion e-rickshaw batteries are advanced rechargeable systems offering higher energy density, faster charging, and longer lifespans compared to conventional lead-acid batteries. In July 2025, MASSIMO, an India-based battery manufacturer, launched its next-generation MileMax Lithium-ion E-rickshaw Batteries to accelerate India’s green mobility initiatives. These batteries feature a robust three-year warranty, extended backup, longer operational life, lightweight design, and zero maintenance. The MileMax line includes smart variants with built-in IoT and GPS tracking, as well as Bluetooth connectivity for real-time monitoring, providing e-rickshaw owners with improved speed, savings, and reliability.

In September 2024, Neuron Energy, an India-based lithium-ion battery manufacturer, partnered with Pointo to lease batteries for commercial e-rickshaws in India. This collaboration supports sustainable electric mobility by providing a steady supply of high-quality lithium-ion batteries through a leasing model, replacing traditional lead-acid batteries and strengthening the electric mobility infrastructure in regions such as Kolkata, Bihar, and Uttar Pradesh. Pointo is an India-based clean-tech company offering a comprehensive battery management ecosystem for electric vehicles.

Major players in the electric rickshaw battery market are Exide Industries Ltd., Leoch International Technology Ltd., Luminous Power Technologies Private Ltd., Amara Raja Energy & Mobility Ltd., Micronix Systems Inc., Okaya Power Private Ltd., Eastman Auto & Power Ltd., Limra Battery, Radix Electro Systems Pvt. Ltd., Tata Autocomp GY Batteries Private Ltd., Pilot Industries Ltd., Renewways Energy Corp, Max Volt Energy Industries Ltd., Bentork Industries LLP, Amaze Technologies Inc., Litpax Technology Private Ltd., Livfast Batteries Private Limited, Sparco Batteries Pvt. Ltd., Syrex Batteries, and Z-Power Impex Pvt. Ltd.

Asia-Pacific was the largest region in the electric rickshaw battery market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in electric rickshaw battery report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid rise in U.S. tariffs and the subsequent trade frictions in spring 2025 are having a major impact on the electrical and electronics sector, with semiconductors, display panels, and rare-earth metals (essential for batteries and motors) subject to steep duties. Consumer electronics brands face profit erosion, as competitive markets limit their ability to pass costs to buyers. Industrial electronics manufacturers, meanwhile, grapple with delayed projects due to shortages of tariff-impacted components like printed circuit boards. Companies are responding by relocating assembly to tariff-exempt countries, increasing inventory buffers, and redesigning products to reduce dependency on restricted materials.

The electric rickshaw battery market research report is one of a series of new reports that provides electric rickshaw battery market statistics, including electric rickshaw battery industry global market size, regional shares, competitors with an electric rickshaw battery market share, detailed electric rickshaw battery market segments, market trends and opportunities, and any further data you may need to thrive in the electric rickshaw battery industry. This electric rickshaw battery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

An electric rickshaw battery is a rechargeable energy storage unit specifically designed to supply consistent and efficient electrical power to an electric rickshaw’s motor, enabling smooth operation without relying on conventional fuels. These batteries are built to withstand frequent charging and discharging cycles, provide extended driving range, and maintain reliable performance under diverse road conditions, supporting cost-effective and environmentally friendly urban transportation.

The main types of electric rickshaw batteries include lead-acid, lithium-ion, nickel-metal hydride, zinc-carbon, and ultracapacitors. Lead-acid batteries are traditional, cost-effective power sources commonly used in electric rickshaws, valued for their availability and reliability. These batteries are available in various capacities, including less than 20 Ah, 20-50 Ah, 50-100 Ah, 100-200 Ah, and more than 200 Ah. They are used in passenger e-rickshaws, cargo e-rickshaws, municipal e-rickshaws, tourism e-rickshaws, and other applications. Key end-users include original equipment manufacturers (OEMs) and the aftermarket.

The countries covered in the electric rickshaw battery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric rickshaw battery market consists of sales of electric double-layer capacitors, hybrid capacitors, pseudocapacitors, battery chargers, and battery management systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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