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India Electric Rickshaw Battery Market to 2024 by Vehicle, Battery Capacity, End Use, & State – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “India
Electric Rickshaw Battery Market by Vehicle, by Battery Capacity, by End
Use, by State Market Size, Share, Development, Growth, and Demand
Forecast, 2014-2024”
report has been added to ResearchAndMarkets.com’s
offering.

The Indian electric rickshaw battery market is expected to reach $722.3
million by 2024, progressing at a CAGR of 13.4% during the forecast
period (2019-2024)

The growth of the market is mainly driven by the proliferation of
electric rickshaws in various cities along with the rising average age
of these vehicles. Further, the introduction of Goods and Services Tax
(GST) can be viewed as a growth opportunity for organized players.

The electric rickshaw market has been majorly driven by local and
unorganized players, who held a combined share of around 80.0%% in 2016.
Before the GST rollout, these players received the price benefit as high
as 30.0%. However, after the GST rollout, organized original equipment
manufacturers (OEMs), offering better-quality products with an average
battery life of eight months, grew in number. Thus, the longevity of
electric rickshaw batteries is propelling the demand for electric
rickshaws batteries and consequently the market growth in the country.

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Based on vehicle, the Indian electric rickshaw battery market has been
divided into load carrier and passenger carrier, of which, in 2018, the
passenger carrier division held the larger revenue share of more than
95.0% in the market and will continue dominating it in the near future.
This is attributed to the large passenger base and increasing demand for
public transport for routine connectivity.

However, the load carrier category is predicted to witness faster growth
in the market during the forecast period, due to the developments in the
e-commerce industry and significant growth in the economy, along with
the low operational cost and total cost of ownership (TCO) of load
carriers.

On the basis of battery capacity, the market is bifurcated into
batteries with capacity more than 101 Ah and less than 101 Ah. Of these,
rickshaw batteries with a capacity less than 101 Ah held the larger
share in the electric rickshaw battery market in India during the
historical period. Furthermore, this category is expected to continue
dominating the market in the forecast period, owing to the control of
unorganized local players on the sector, as many of them manufacture
low-cost electric rickshaws equipped with such batteries.

The Indian electric rickshaw battery market is also categorized into OEM
and replacement, based on end use. During the forecast period, the
market for replacement batteries is predicted to advance at a CAGR of
more than 14.0% in terms of sales volume. This is mainly attributed to
the proliferation of electric rickshaws and battery replacement of many
such vehicles in the country. This category is also anticipated to
dominate the market during the forecast period.

Some of the key players in the Indian electric rickshaw battery market
are Eastman Auto & Power Ltd., Okaya Power Pvt. Ltd., Exide Industries
Ltd., Gem Batteries Pvt. Ltd., Amara Raja Batteries Ltd., Sparco
Batteries Pvt. Ltd., Jay Ace Technologies Ltd., and Grand Batteries Pvt.
Ltd.

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Key Topics Covered:

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

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1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.3 Market Size Estimation

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2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

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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

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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

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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

4.3.2 Drivers

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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

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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

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4.4 Porter’s Five Forces Analysis

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

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6.1 By Vehicle

6.2 By Battery Capacity

6.3 By End Use

6.4 By State

Chapter 7. Competitive Landscape

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7.1 Competitive Scenario

7.2 Market Share Analysis of Key Players

7.3 Product and Warranty Analysis of Major Market Players

7.4 Battery Suppliers for Major Electric Rickshaw Manufacturers

Chapter 8. Battery Life and Usage Analysis

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8.1 Battery Life and Cost Analysis

8.2 Battery Failure Rate, By Capacity

8.3 Battery Usage Patterns

Chapter 9. Company Profiles

  • Exide Industries Ltd.
  • Amara Raja Batteries Ltd.
  • Eastman Auto & Power Ltd.
  • Okaya Power Pvt. Ltd.
  • Sparco Batteries Pvt. Ltd.
  • Jay Ace Technologies Ltd.
  • Gem Batteries Pvt. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/h9iiw6

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]

For
E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call
1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Related
Topics: Automotive
Batteries
, Bikes
and Cycling Equipment
, Battery
Technology

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