[ 英語タイトル ] India Electric Rickshaw Market - Growth, Trends, and Forecasts (2020 - 2025)

Product Code : MDAT0088544

Survey : Mordor Intelligence

Publish On : November, 2020

Number of Pages : 80

Category : Automotive and Transportation

Study Area : India

Report format : PDF

Sales price option (consumption tax not included)

[Report Description]

India electric rickshaw market is expected to register a CAGR of 15.45%, during the forecast period, 2020 - 2025.

- With growing awareness on environment pollution, government incentives towards e-mobility and implementation of stringent emission norms have been few factors driving the market.
- Battery-powered rickshaw has been replacing cyclic rickshaw predominantly in North India, majorly across Uttar Pradesh, West Bengal, Delhi, and Bihar. In 2018, India had registered nearly 350 thousand unit sales, growing at an average rate of 20% annually since 2015.
- The intensity of competition in the market is high due to the presence of many regional players.
- Lack of charging infrastructure and battery-swapping stations across nationwide have been hindering the potential growth of EVs in the country. As of 2018, India had nearly 425 publicly available charging points. However, by 2022, government and private efforts are expected to boost the charging infrastructure to approximately 2,800 charging points.

Key Market Trends

Upgrading the Batteries in E-Rickshaws

The battery capacity of less than 100 Ah had covered the largest market share in 2018. Most of the batteries used were of lead acid batteries. Lead-acid battery-powered rickshaws priced at INR 1.25 lakhs while lithium-ion battery engines at INR 1.5 lakhs. However, in the coming years, the share of lithium-ion batteries, which currently cover 10% of the market, is likely to increase among organized players. As players like Bajaj Auto and Piaggio have announced plans to launch e-rickshaws in 2020.

Along with growing usage of lithium-ion batteries, the battery capacity is also likely to increase as to avoid frequent charging intervals during long-distance driving.

North India Captured Major Market Share

In North India, Delhi had covered the largest market. Since 2013, e-rickshaw sales have been increasing in the country, owing to the provision of subsidy on the purchase of e-rickshaws, to tackle the alarming air pollution in the country.

The country has recently drafted a policy on Transport Department which states that 25% of the all new vehicles registrations to be electric by 2023 through subsidy for such rickshaws, autos and two-wheelers among others. The policy proposes an open permit system for e-autos in Delhi with a subsidy up to INR 12,500 and 5% interest subvention to promote these vehicles. It also recommends a cashback of INR 10 to commuters using e-autos. While, for e-rickshaws, the policy proposes subsidy up to INR 20,000 and 5% interest subvention.

To promote faster localization across nationwide, around 5 lakh e-rickshaws of ex-factory price up to INR 5 lakh are set to get incentive of INR 50,000 each in phase II of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II).

Competitive Landscape

India electric rickshaw market is highly fragmented due to the presence of many small and unorganized domestic players, which contributed to nearly more than 80% of the sales in 2018. Some of the prominent players in the market, includes Lohia Auto, Kinetic Green Energy and Power Solutions Ltd., Mahindra Electric, Saera Electric Auto Pvt. Ltd etc.,

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
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