Government Policies Supporting the Distribution and Charging of Li-ion Batteries to Spur Growth of the Indian eRickshaw Market, 2025

Government Policies Supporting the Distribution and Charging of Li-ion Batteries to Spur Growth of the Indian eRickshaw Market, 2025

FAME II Scheme and the Focus on Increasing Public Charging Stations to Present New Growth Opportunities

RELEASE DATE
22-Dec-2020
REGION
South Asia, Middle East & North Africa
Research Code: PACA-01-00-00-00
SKU: AU02101-SA-MT_25098
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Description

The evolving eRickshaw market in India is expected to witness increasing changes in the next 5 years driven by a myriad of factors. The country’s urban mobility modal is largely dominated by two and three wheelers (2Ws & 3Ws) , which account for close to a 50% share. With the advent of more public transport initiatives, the modal share of last-mile modes like 3Ws is likely to rise in key urban centers. Urbanization, increasing levels of pollution, climate change challenges, growth in new mobility solutions such as ride sharing services, and the emergence of innovative last-mile solutions have propelled a shift from internal combustion engine (ICE) driven vehicles to eRickshaws. In addition, electrification in India is likely to be driven by government incentives; growing need for clean, shared and public transportation; and the lower operational cost of electric vehicles (EVs). The Government of India (GOI) has initiated regulatory measures to drive this transformation to electric solutions in the 3W segment. This has prompted OEMs to look at innovative solutions within this space.

The eRickshaw market faces various challenges. Inadequate charging infrastructure, coupled with frequent charging issues, high battery replacement costs, poor build quality, and moderate battery life are some of the primary concerns that need to be addressed. For instance, the market is suffering from range anxiety issue where a concern persists whether the vehicle would have sufficient range to reach its destination. Various stakeholders in the ecosystem are working towards addressing major issues with a focus on 2030.

This eRickshaw study largely focuses on the electric 3-wheeler (e3W) market in terms of tracking its evolution, identifying opportunities, and understanding the future growth potential from an Indian context. It highlights trends and drivers that are making a case for e3Ws in the country. It also identifies current pain points associated with the adoption of eRickshaws, the significant impact of FAME II policy on the segment, and how various state governments have initiated regulations to embrace e3W solutions. Further, the study deep dives by providing insights on vehicle charging and financial solutions, and elaborates on how various players within this segment are positioning and pricing their products and solutions. Lastly, the study also analyzes consumer needs and how OEMs in the market are bridging the gap to address customer requirements.

Frost & Sullivan expects the market for eRickshaws to reach close to a million units by FY25 owing to a revival of public transportation and tourism, demand from tier 1 & 2 cities, growing replacement demand, and an increase in penetration of vehicle financing. These will go a long way in shaping the future of eRickshaws in the country such that the market has the potential to be fully electrified by 2030.

Author: Vijay Narayanan

RESEARCH: INFOGRAPHIC

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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the eRickshaw Market

Growth Opportunities Fuel the Growth Pipeline Engine™

eRickshaw Market, Scope of Analysis

Key Findings

Key Findings (continued)

Key Megatrends Impacting Mobility in India

Shared Mobility, Market Snapshot (2019)

Urban Mobility Modal Share

Drivers and Restraints

EVs, Current Challenges in India

Key Segments for Electrification in India

Electrification Roadmap for India, Vision 2030

eRickshaw Segmentation

Key Players in Select Markets

Key Growth Metrics for eRickshaw Market

Segment-wise Strength & Weakness Analysis

Forecast Assumptions, eRickshaw Market

Competitive Environment, eRickshaw Market

eRickshaw Customers

Impact of FAME II on eRickshaws

SWOT Analysis, eRickshaws

COVID-19 Related Relief Measures for eRickshaw Owners/ Drivers

Sales and Registration of EVs without Batteries

eRickshaw Market, State-wise Regulations

eRickshaw Market, State-wise Regulations (continued)

eRickshaw Market, State-wise Regulations (continued)

eRickshaw Market, State-wise Regulations (continued)

eRickshaw Market, State-wise Regulations (continued)

eRickshaw Market, State-wise Regulations (continued)

eRickshaw Market, State-wise Regulations (continued)

Banning of eRickshaws

eRickshaw, Pricing Trends and Forecast Analysis

eRickshaw, Historic Sales and Forecast, FY19-FY25—Realistic Scenario

eRickshaw, Historic Sales and Forecast, FY19-FY25—Optimistic Scenario

eRickshaw Market, Segment-wise Sales Share

eRickshaw Volume Sales

Top Cities with eRickshaws in FY 2020

eRickshaw/eCart Classification

Market Share, Key Demand Centers

eRickshaw Market Insights, FY20

eRickshaw, Insights on Battery Charging

eRickshaw, Warranty Practices

eRickshaw Financing

eRickshaw, Financing Outlook

eRickshaw Market, Entry Barriers

eRickshaw, Price-Product Positioning

Customer Need and Demand Analysis by Segment

Key Parameters—Satisfaction vs. Importance, Unorganized Segment

Key Parameters—Satisfaction vs. Importance, Semi-Organized Segment

Key Parameters—Satisfaction vs. Importance, Organized Segment

eRickshaw, Pain Points

Pain Points in the Current Battery Set-up, Lead Acid Battery

Need Gap Analysis, Unorganized Segment

Need Gap Analysis, Semi-Organized Segment

Need Gap Analysis, Organized Segment

Customer Expectation from Future eRickshaws, Summary

Total Cost of Ownership (TCO) Comparison for 3 Years

Battery Replacement Cost for 3 Years, Calculation

Other Expenses for 3 Years, Tire and Vehicle Maintenance

Finance/EMI Calculation

eRickshaw Owners, Segment-wise Earnings Comparison

eRickshaw Drivers, Segment-wise Earnings Comparison

Why Battery Swapping?

Impact of Battery Swapping on Cost of the Vehicle

Mayuri, Company Overview

Mayuri, Dealer Network

Mayuri, Supplier Ecosystem

Mayuri, Product Portfolio

Mayuri, Product Portfolio (continued)

Kinetic Green, Company Overview

Kinetic Green, Dealer Network

Kinetic Green, Supplier Ecosystem

Kinetic Green, Product Portfolio

Mahindra Electric, Company Overview

Mahindra Electric, Dealer Network

Mahindra Electric, Supplier Ecosystem

Mahindra Electric, Product Portfolio

Lohia Auto, Company Overview

Lohia Auto, Dealer Network

Lohia Auto, Supplier Ecosystem

Lohia Auto, Product Portfolio

Thukral Electric Bikes, Company Overview

Thukral Electric Bikes, Dealer Network

Thukral Electric Bikes, Supplier Ecosystem

Thukral Electric Bikes, Product Portfolio

SAARTHI, Company Overview

SAARTHI, Dealer Network

SAARTHI, Supplier Ecosystem

SAARTHI, Product Portfolio

SAARTHI, Product Portfolio

Galaxy E-Vehicles (Green Impex), Company Overview

Galaxy E-Vehicles (Green Impex), Dealer Network

Galaxy E-Vehicles (Green Impex), Supplier Ecosystem

Galaxy E-Vehicles (Green Impex), Product Portfolio

Galaxy E-Vehicles (Green Impex), Product

Growth Opportunity 1—Government Initiatives for Boosting the e3W Market, 2020

Growth Opportunity 1—Government Initiatives for Boosting the e3W Market, 2020 (continued)

Growth Opportunity 2—Developments within the Battery & Charging Infrastructure Space, 2020

Growth Opportunity 2—Developments within the Battery & Charging Infrastructure Space, 2020 (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

Related Research
The evolving eRickshaw market in India is expected to witness increasing changes in the next 5 years driven by a myriad of factors. The countrys urban mobility modal is largely dominated by two and three wheelers (2Ws & 3Ws) , which account for close to a 50% share. With the advent of more public transport initiatives, the modal share of last-mile modes like 3Ws is likely to rise in key urban centers. Urbanization, increasing levels of pollution, climate change challenges, growth in new mobility solutions such as ride sharing services, and the emergence of innovative last-mile solutions have propelled a shift from internal combustion engine (ICE) driven vehicles to eRickshaws. In addition, electrification in India is likely to be driven by government incentives; growing need for clean, shared and public transportation; and the lower operational cost of electric vehicles (EVs). The Government of India (GOI) has initiated regulatory measures to drive this transformation to electric solutions in the 3W segment. This has prompted OEMs to look at innovative solutions within this space. The eRickshaw market faces various challenges. Inadequate charging infrastructure, coupled with frequent charging issues, high battery replacement costs, poor build quality, and moderate battery life are some of the primary concerns that need to be addressed. For instance, the market is suffering from range anxiety issue where a concern persists whether the vehicle would have sufficient range to reach its destination. Various stakeholders in the ecosystem are working towards addressing major issues with a focus on 2030. This eRickshaw study largely focuses on the electric 3-wheeler (e3W) market in terms of tracking its evolution, identifying opportunities, and understanding the future growth potential from an Indian context. It highlights trends and drivers that are making a case for e3Ws in the country. It also identifies current pain points associated with the adoption of eRickshaws, the significant impact of FAME II policy on the segment, and how various state governments have initiated regulations to embrace e3W solutions. Further, the study deep dives by providing insights on vehicle charging and financial solutions, and elaborates on how various players within this segment are positioning and pricing their products and solutions. Lastly, the study also analyzes consumer needs and how OEMs in the market are bridging the gap to address customer requirements. Frost & Sullivan expects the market for eRickshaws to reach close to a million units by FY25 owing to a revival of public transportation and tourism, demand from tier 1 & 2 cities, growing replacement demand, and an increase in penetration of vehicle financing. These will go a long way in shaping the future of eRickshaws in the country such that the market has the potential to be fully electrified by 2030. Author: Vijay Narayanan
More Information
No Index No
Podcast No
Author Vijay Narayanan Natarajan
Industries Automotive
WIP Number PACA-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9882-A6