India Electric Rickshaw Battery Market Growth Forecast Report

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E-Rickshaws Emerge as Convenient and
Cost-Effective Travel Mode Lead to India Electric
Rickshaw Battery Market Expansion
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In 2021, the India electric rickshaw battery
market captured 141.3 million revenue, and the
market is predicted to hit 295.4 million revenue
in 2030, advancing at a rate of 8.5 from 2021 to
2030 The substantial market share is captured by
the batteries utilized by passenger carriers,
ascribed to a large passenger base, resulting in
increased demand for the in-expensive, last mile
connectivity that results in expansion of the
market. Batteries with a less-than 101-Ah
capacity have a 60.6 share, due to an increase
in the preference for low-cost e-rickshaws among
end users. It is owed to unorganized local
players dominance in the market, more
specifically those who manufacture low-cost
electric three-wheelers. Moreover, the market is
predicted to experience a faster growth rate in
the near future, due to the rising demand for
lt101-Ah batteries, caused by the surge in
e-rickshaws that travel longer distances without
any need for frequent charging.
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The unorganized, local players in the India
electric rickshaw battery market have enjoyed the
major share of the revenue pie ascribed to their
local and small-scale operations, and delivery of
substandard quality electric three-wheelers with
a life of approx. duration of 1.8 years.
Moreover, the advent of the GST has led the
market to get consolidated due to the higher
manufacturing cost of electric rickshaws. It
resulted in increased preference of the consumers
for reliable products. Moreover, the organized
manufacturers capture 48.8 of the India electric
rickshaw battery market, due to the increased
quality of the products over the years, caused by
the more structured and organized market. The
established manufacturers offer electric
rickshaws with an average life duration of 3.5
years. The increase in the average age of
e-rickshaws snowballs the batteries demand,
caused by the replacement of the older ones. It
can be concluded that the rise in the E-rickshaws
average life leads to rising in batteries
demand. To receive free sample pages of this
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4
Under the battery type segment, the India
electric rickshaw battery market is divided into
leadacid and lithium-ion. The lithium-ion
battery has captured the larger market share, of
51.9, and their sales for e-rickshaws are
expected to value at 196.1 million in 2030,
caused by the presence of the standard industry
sizes that are up to 60 lighter and up to 50
more in energy storage capacity than SLA
variants. In addition, the low self-discharge
rate contributes to the maintenance of the state
of charge for a longer period. The surge in
electric-three-wheeler demand is caused by the
ease of convenience and inexpensive nature of
transportation it offers for short distances.
Already in India, 83 of all the EVs sold are
three-wheelers. On an average, the country has
1.5 million electric rickshaws, with an
additional sale of 11,000 per month. This
number is expected to be even bigger in reality
due to a massive number of unregistered vehicles.
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