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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
22-Dec-2020
South Asia, Middle East & North Africa
Market Research
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
This infographic presents a brief overview of the research, and highlights the key topics discussed in it.Click image to view it in full size
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)
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| Deliverable Type | Market Research |
|---|---|
| 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 |