India Electric Rickshaw Battery Market by Product, Pollutant, Sampling Method, End User and Geography

-
The Indian electric rickshaw battery market is anticipated to reach $722.3 million by 2024, registering a CAGR of 13.4% during the forecast period, according to P&S Intelligence.
The market growth is primarily driven by proliferation of electric rickshaws in many cities coupled with increasing average age of these vehicles. Initially, the electric rickshaw market has been majorly operated by unorganized and local players with a collective share of about 80% in 2016, which offered substandard quality electric rickshaws with average life of around 1.8 years. However, after GST rollout, the number of organized original equipment manufacturers (OEMs) grew, offering better-quality products with increased average battery life of around eight months. Thus, the increased battery life of electric rickshaws in the country is sequentially propelling the growth of the market.
Insights into the market segments
On the basis of vehicle, the Indian electric rickshaw battery market has been categorized into passenger carrier and load carrier. Of these, the passenger carrier category held the largest share in 2018 with more than 95% share in the market, in terms of value. This is due to the strong passenger base and demand for public transport for last-mile connectivity. However, the load carrier category is expected to witness faster growth in the market, owing to the expansion in e-commerce industry and growth in the economy, coupled with low total cost of ownership (TCO) and operational cost benefit.
Delhi was the largest revenue generator in the market in 2018
Delhi contributed the largest revenue to the Indian electric rickshaw battery market. The large customer base, coupled with the early adoption of electric rickshaws, boosted the market for electric rickshaw batteries in the state. In addition, the increased level of air pollution in the capital led to the proliferation of electric rickshaws in the city.
India Electric Rickshaw Battery Market Competitive Landscape
Some of the major players operating in the Indian electric rickshaw battery market are Exide Industries Ltd., Eastman Auto & power Ltd., Amara Raja Batteries Ltd., Okaya Power Pvt. Ltd., Jay Ace Technologies Ltd., Sparco Batteries Pvt. Ltd., Gem Batteries Pvt. Ltd., and Grand Batteries Pvt. Ltd.

Comments

Post a Comment

Popular posts from this blog

Demand for Electric Bike Set for Stupendous Growth in China and Post 2020, Buoyed by the Global COVID-19 Pandemic

-
In the 1950s, less than 20% of the Chinese people were urban dwellers, and by 2018, this percentage had soared to 59%, as per the World Urbanization Prospects 2018 report of the United Nations (UN). This has led to a massive rise in the number of automobiles on the roads of China, in part, making it the largest carbon emitter in the world. As a result, its government has been strongly encouraging the public to adopt electric vehicles (EV) by implementing stringent emission regulations and offering purchase subsidies and tax rebates. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/china-electric-scooters-and-motorcycles-market/report-sample P&S Intelligence says that the increasing urbanization level, which is expected to touch almost 70% by 2030, will drive the electric bike market in China from $7.7 billion in 2017 to $12.5 billion by 2025, at a 6.1% CAGR during 2018–2025 (forecast period). As per the Health Effects Institute and Tsing...
Read more

India Electric Car Market Will See Strong Expansion Through 2025

-
Image
The air pollution levels in India have risen rapidly over the past few years. As per the Environmental Pollution Index 2018, the country is among the bottom five countries when environment health category is considered and ranked 178 out of 180, in terms of air quality. India’s carbon dioxide emissions rose by 4.6% in 2017. This surging emissions of ultra-fine particulate matter from fuel-based vehicles has caused the death of approximately 1,640,000 people in the country. In order to reduce the pollution, the government of the country is focusing on encouraging the utilization of electric vehicles. Owing to these factors, the demand for electric cars in India has risen considerably. According to a report by P&S Intelligence, the Indian electric car market is expected to generate a revenue of $707.4 million by 2025, rising from $71.1 million in 2017, and is projected to progress at a 34.5% CAGR during the forecast period (2018–2025). The different types of electric cars are hybr...
Read more

Logistics Industry is Expecting Major Tech Revolution in Near Future

-
Image
 The impact of COVID-19on the logistics industry has been quite negative, as the growth of the industry has slowed down due to the nationwide lockdown in most of the affected countries. Owing to the growth in e-commerce activities, increase in the disposable income of customers, and rapid urbanization in emerging economies, such as India and China, the logistics industry had been growing in recent years. Seeing the rising need for the transportation of goods, many new companies were entering the logistics space before the pandemic arrived. TheCOVID-19 impact analysis on the  logistics industry  reveals that trading activities between nations were discontinued to contain the spread of the virus, which disrupted the supply chain. For instance, the supply chain of China is operational across countries including India, South Korea, Japan, Hong Kong, Singapore, the U.K., Spain, Italy, and Germany, all of which are badly jolted by the pandemic. Apart from China, all t...
Read more