India Electric Rickshaw Battery Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025

Description

The India electric rickshaw battery market is projected to grow from $203.9 million in 2024 to $328.0 million by 2030, reflecting a compound annual growth rate (CAGR) of approximately 8.3% during the forecast period.

This growth is primarily driven by the expanding urban population, which increases the demand for efficient last-mile transportation solutions. Electric rickshaws (e-rickshaws) offer a cost-effective alternative to traditional gasoline and CNG-powered three-wheelers and are more profitable over time compared to conventional cycle rickshaws. Consequently, many rickshaw operators are transitioning from pedal-powered models to electric ones to enhance their earnings.

Key Insights

The replacement segment holds a significant share in the market, as the increasing average age of e-rickshaws leads to a higher demand for battery replacements, boosting aftermarket sales.

Lithium-ion batteries hold the larger share because of their longer lifespan, quicker charging times, and higher energy efficiency. This shift is expected to influence market dynamics in the coming years.

The passenger carrier category accounts for a substantial portion of the market, driven by the high demand for affordable and efficient urban transportation options. E-rickshaws serve as a practical solution for short-distance travel in congested city areas.

Uttar Pradesh leads the market in terms of revenue, attributed to its large population and extensive use of e-rickshaws for daily commuting. The state's supportive policies and subsidies further encourage the adoption of electric vehicles.

Tripura is anticipated to experience the fastest growth during the forecast period, owing to increasing government initiatives promoting electric mobility and the rising acceptance of e-rickshaws as a viable mode of transportation.

The market is fragmented, with numerous local and regional players contributing to a competitive landscape. This fragmentation encourages innovation and provides consumers with a variety of battery options tailored to different needs and budgets.

Government subsidies under initiatives like FAME India II and the decreasing prices of lithium-ion batteries are facilitating the purchase of electric three-wheelers, thereby driving market growth. These incentives make electric rickshaws more accessible to operators and accelerate the shift towards electric mobility.

The trend toward higher-capacity batteries is emerging, as operators seek e-rickshaws capable of longer travel distances without frequent charging. This demand is driven by the need for extended operational hours to maximize income, leading to a preference for batteries with capacities exceeding 101 Ah.

Product Code: 11646

Chapter 1. Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Analysis Period
1.4 Market Data Reporting Unit
- 1.4.1 Volume
- 1.4.2 Value
1.5 Market Size Breakdown by Segment
- 1.5.1 Market Segmentation by Vehicle
- 1.5.2 Market Segmentation by Battery Capacity
- 1.5.3 Market Segmentation by End Use
- 1.5.4 Market Segmentation by Battery Type
- 1.5.5 Market Segmentation by State
1.6 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research
- 2.1.1 Paid
- 2.1.2 Unpaid
- 2.1.3 P&S Intelligence Database
2.2 Primary Research
- 2.2.1 Breakdown of Primary Research, by State
- 2.2.2 Breakdown of Primary Research, by Industry Participant
- 2.2.3 Breakdown of Primary Research, by Designation
- 2.2.5 Breakdown of Primary Research, by Company Type
2.3 Market Size Estimation
- 2.3.1 Electric Rickshaw Market Size Estimation
- 2.3.2 Electric Rickshaw Battery Market Size Estimation
  - 2.3.2.1 OEM market size estimation
  - 2.3.2.2 Aftermarket size estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Notes & Caveats

Chapter 3. Executive Summary

Chapter 4. Definition of Market Segments

4.1 Definition of Market Segments
- 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 <101 Ah
  - 4.1.2.2 >101 Ah
- 4.1.3 Battery Type
  - 4.1.3.1 Lead-acid
  - 4.1.3.2 Lithium-ion
- 4.1.4 By End Use
  - 4.1.4.1 OEM
  - 4.1.4.2 Replacement
4.2 Value Chain Analysis

Chapter 5. Industry Outlook

5.1 Market Dynamics
- 5.1.1 Trends
  - 5.1.1.1 Solar-charged electric rickshaws
  - 5.1.1.2 Growing demand for electric rickshaws with higher battery capacity
  - 5.1.1.3 Use of Li-ion batteries
  - 5.1.1.4 Increasing penetration of electric loader rickshaws
- 5.1.2 Drivers
  - 5.1.2.1 Favorable operational cost of electric rickshaws
  - 5.1.2.2 Proliferation of electric rickshaws on Indian roads
  - 5.1.2.3 Increasing average age of electric rickshaws
  - 5.1.2.4 Impact analysis of drivers on market forecast
- 5.1.3 Restraints
  - 5.1.3.1 Lack of clarity on operational guidelines for electric rickshaws
  - 5.1.3.2 Substandard batteries offered by local players
  - 5.1.3.3 Impact analysis of restraints on market forecast
5.2 Impact of COVID-19
5.3 Porter's Five Forces Analysis
- 5.3.1 Bargaining Power of Buyers
- 5.3.2 Bargaining Power of Suppliers
- 5.3.3 Intensity of Rivalry
- 5.3.4 Threat of New Entrants
- 5.3.5 Threat of Substitutes

Chapter 6. Electric Rickshaw Incentives, Regulations, and Policies in India

6.1 Major Electric Vehicle Programs in India
6.2 NEMMP 2020
- 6.2.1 FAME II India Scheme Overview
- 6.2.2 FAME I India Scheme Overview & Impact
6.3 Localization of Electric Vehicle Component
6.4 Import Scenario of Electric Vehicle Component in India
- 6.4.1 Tax Structure for Import of Electric Vehicle Component in India
6.5 State Level Electric Vehicles Policies in India

Chapter 7. Electric Rickshaw Operation Patterns and Characteristics

7.1 Type and Length of Trips
7.2 Frequency of Trips

Chapter 8. India Market Size and Forecast

8.1 Overview
8.2 By Vehicle
8.3 By Battery Capacity
8.4 By Battery Type
8.5 By End Use
8.6 By State

Chapter 9. City-Level Market Size Estimation

9.1 Electric Rickshaw Battery Market Size Estimation
9.2 NCT Delhi Electric Rickshaw Battery Market Size Estimation
9.3 Competitive Scenario
- 9.3.1 Market Share Analysis of Key Players
9.4 Product and Warranty Analysis of Major Market Players
- 9.4.1 Aftersales Service Model
9.5 Battery Suppliers for Major Electric Rickshaw Manufacturers

Chapter 10. Battery Life and Usage Analysis

10.1 Battery Life and Cost Analysis
10.2 Battery Failure Rate, By Capacity
10.3 Battery Usage Patterns
10.4 Recent Strategic Developments of Key Players
- 10.4.1 Partnerships
- 10.4.2 Geographical Expansions

Chapter 11. Company Profiles

11.1 Exide Industries Ltd.
- 11.1.1 Business Overview
- 11.1.2 Product and Service Offerings
- 11.1.3 Key Financial Summary
11.2 Amara Raja Group
- 11.2.1 Business Overview
- 11.2.2 Product and Service Offerings
- 11.2.3 Key Financial Summary
11.3 Eastman Auto and Power Limited
- 11.3.1 Business Overview
- 11.3.2 Product and Service Offerings
11.4 Okaya Power Pvt. Ltd.
- 11.4.1 Business Overview
- 11.4.2 Product and Service Offerings
11.5 Jay Ace Technologies Ltd.
- 11.5.1 Business Overview
- 11.5.2 Product and Service Offerings
11.6 Gem Batteries Pvt. Ltd.
- 11.6.1 Business Overview
- 11.6.2 Product and Service Offerings
11.7 Luminous Power Technologies Pvt. Ltd.
- 11.7.1 Business Overview
- 11.7.2 Product and Service Offerings
11.8 Z-Power Impex Private Limited
- 11.8.1 Business Overview
- 11.8.2 Product and Service Offerings
11.9 Microtex Energy Private Limited
- 11.9.1 Business Overview
- 11.9.2 Product and Service Offerings
11.10 Swastik Auto Industries
- 11.10.1 Business Overview
- 11.10.2 Product and Service Offerings
11.11 Aqueouss
- 11.11.1 Business Overview
- 11.11.2 Product and Service Offerings
11.12 MICRONIX
- 11.12.1 Business Overview
- 11.12.2 Product and Service Offerings
11.13 Leoch International Technology Limited
- 11.13.1 Business Overview
- 11.13.2 Product and Service Offerings
- 11.13.3 Key Financial Summary
11.14 Sparco Batteries
- 11.14.1 Business Overview
- 11.14.2 Product and Service Offerings
11.15 Livguard Energy Technologies Private Limited
- 11.15.1 Business Overview
- 11.15.2 Product and Service Offerings
11.16 LIVFAST
- 11.16.1 Business Overview
- 11.16.2 Product and Service Offerings
11.17 JP Minda Group
- 11.17.1 Business Overview
- 11.17.2 Product and Service Offerings

Chapter 12. Appendix

12.1 Abbreviations
12.2 Sources and References
12.3 Related Reports

India Electric Rickshaw Battery Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025 - 2030)