Indian automotive industry is rapidly expanding and is expected to hold the 3rd position in the world by 2030. In addition to this, to cater the advancing need of 1.30 billion people of India, Indian automotive industry has dramatically transformed and is expected to show a similar trend in the forthcoming years. One such transformation is the advent of Zero Emission Vehicles (ZEVs)/ Electric Vehicles (EVs) within the country. The excessive dependence on imported crude oil, rise in Greenhouse Gases (GHGs) content, growing demand of EVs and increase in governmental support through subsidies and incentives are some of the major factors driving the market of EVs in the country. At present, Indian EV industry is at its nascent stage although the country planned to be 100% electric by 2030. India is home to about 17 lakh battery-powered, three-wheeled rickshaws, a fleet bigger than the total number of electric passenger cars sold in China since 2011. Electric-vehicle revolution is gaining ground in India as the drivers of the ubiquitous three-wheelers (E-rickshaw) weaving through crowded, smoggy streets discovered that E-rickshaws are quieter, faster, cleaner and cheaper to maintain than a traditional auto-rickshaw. Further, E-rickshaws are less strenuous than cycle rickshaws, which require all-day peddling. So, with more rides possible in a day, the E-rickshaws are proving more lucrative to market.
Over the past few years, the country has witnessed remarkable growth in E-rickshaw market as various state governments have offered several incentives, subsidies and other benefits for purchasing an E-rickshaw to promote green mobility within the country. The growing focus on green mobility consequently increased the need for easy accessibility of the charging structures to keep them running and so the governments across the country are working endlessly to create an efficient ecosystem for electric vehicles. With growing consciousness regarding green mobility, comfort and convenience offered by E-rickshaw in the first and last mile connectivity, along with the government promotions for electric vehicle, it is expected that the electric rickshaw market will grow significantly in the years yet to come. Among two types of vehicle type, passenger type is expected to dominate the market, however, the market for load/carrier type electric rickshaw is expected to grow at the highest CAGR of 10.41% over the forecast period owing to its increasing usage for delivering various products including water bottles, cartons, edibles and others in and around the city.
Based on the battery type, the majority of electric rickshaw in India runs on Sealed Lead Acid (SLA) battery as these batteries are comparatively cheaper than that of its counterparts. It is found that the initial cost difference of lead acid battery and li-ion battery is roughly around INR 50,000. However, the benefits offered by li-ion battery such as low charging time, low maintenance and prolong lifespan are driving manufacturers to use li-ion battery. Currently, around 85 percent of the electric rickshaw runs on lead acid battery while 15 percent only runs on li-ion battery. It is expected that li-ion battery for electric rickshaw will grow considerably during the forecast period with a CAGR of 12.55%. During our study, we found that the potential hindrance for India Electric Rickshaw Market is the lack of adequate charging facilities and parking stand for it. Most of the electric rickshaw drivers charge the vehicle overnight at their house with the available electricity. While some other charge their vehicle at garage, local food or goods shops and pay the owner of the shop on a daily or monthly basis. The cost of charging varies for the drivers of different locations. The cost is generally INR 50-70 a day for charging at a local shop and INR 30 a day for charging at one's own house.
India Electric Rickshaw Market is very much fragmented. Most of the players in this industry mainly assemble the spare parts at their manufacturing unit. Majority of the players still import electric rickshaw parts from China as they are cheaper. On an estimate, it is said that 85 percent of the India Electric Rickshaw Market is captured by unorganized players while the organized players hold only 15 percent of it. Some of the key players operating in India Electric Rickshaw Market include Saera Auto, Terra Motors, Hero Electric, Atul Auto, OK Play, Kinetic Green, Lohia Auto, Electrotherma and Mahindra & Mahindra. These players are working endlessly to fulfill the consumer growing demand through technological advancements, increasing production capacity of plant, several strategic partnerships, joint ventures, product launches and business expansions to strengthen their position in India Electric Rickshaw Marketplace.
Conclusion: India Electric Rickshaw Market is growing by leaps and bounds. E- Rickshaws are non-polluting vehicles. Replacing conventional vehicles (such as auto-rickshaws or cycle rickshaws) with E-rickshaws can significantly improve the inferior air quality of our country. The E-rickshaw system in India is still at its nascent stage and needs a major improvement in infrastructure. Today, E-rickshaw has become one of the most preferred modes of first and last mile intercity connectivity, but it lacks proper parking stand and charging spots. However, they are not allowed to ply on the main roads and many a times, their vehicles are confiscated. Further, owing to the support for electric vehicles from government, India Electric Rickshaw Market is expected to grow smoothly over the forecast period. As they are cost-effective, it again offers better standard of living to their owners as they can earn enough to survive.
India E-Rickshaw market crossed USD 2.5 billion mark in 2018 and is expected to grow at a CAGR of XX.0% during the forecast period 2019-2025. E-Rickshaw is a flexible, non-polluting and affordable means of Intermediate Para-Transit (IPT) system. E-Rickshaw is the latest entry in the Indian road transportation system. Since E-Rickshaw has been introduced in India, it has been playing a significant role in solving the issue of last mile intercity connectivity. Since 2010, E-Rickshaw has been operational in India, mostly in Delhi-NCR region. Since then, this vehicle has gained immense popularity due to environment friendly nature along with its potential to curb the carbon footprint as it is battery operated. Today, E-Rickshaw has become one of the most preferred modes of transportation in major urban and suburban cities of India. SmartE launched in October 2015, has served over 6 million zero-pollution' rides. By December 2017, SmartE aims to serve over 3 million commuters per month, through its 1,000 E-Rickshaw fleet. SmartE also aims to roll-out 10,000 vehicles by 2018-end and cross the 100,000 vehicle mark by 2020. At 100,000 vehicles, SmartE will help reduce close to a million tonnes carbon emissions, an equivalent of planting 17 million trees per year.
Across the country, electric rickshaw has become an important part of the transport system and is expected to witness a significant growth over the forecast period on account of government plans such as the National Electric Mobility Plan (NEMP). The government aims to encourage the use of electric vehicles in India along with the commitment to build an efficient electric vehicle network including adequate charging stations and incentives on buying an electric vehicle.
E-rickshaw drivers in Delhi pay 17% lesser rent, compared to normal auto drivers. Also setup or initial investment for e-rickshaw is 50% less that the normal auto rickshaw. Owing to such benefits, penetration of e-rickshaw is expected to increase over the future. The below figure depicts the comparison of initial cost and earning of rickshaw drivers in Delhi-NCR region.
?
Basic Overview of Initial Cost and Daily Earnings of Rickshaw in Delhi
-Rickshaws are the latest entry in the Indian road and
Transport system. A flexible, non-polluting and affordable
system, they have been playing a significant role in solving
the last mile connectivity issue. Due to the absence of rules
and norms, they have been largely operating very informally.
While the licensing of E-Rickshaws has been given the nod
By the Ministry of Road Transport and Highways, the
operation of this system is still ambiguous which has
currently led to the ban order by the Delhi High Court.
There exists the issue of monitoring and framing the rule
book for E-Rickshaws for the safety and security of the
commuters using these systems. Policy guidelines are
required on whether E-Rickshaws are an Intermediate Para-
Transit (IPT) system, who is responsible for the licensing
and regulation and how it gets integrated and act as feeder
to the public transport. Specific provisions are required to
address questions on speed, vehicle specifications,
insurance, lane traffic and fare charges. This requires a
policy framework to address the concerns of both e-
rickshaw drivers and its counterparts.
E-Rickshaws are the latest entry in the Indian road and
transport system. A flexible, non-polluting and affordable
system, they have been playing a significant role in solving
the last mile connectivity issue. Due to the absence of rules
and norms, they have been largely operating very informally.
While the licensing of E-Rickshaws has been given the nod
by the Ministry of Road Transport and Highways, the
operation of this system is still ambiguous which has
currently led to the ban order by the Delhi High Court.
There exists the issue of monitoring and framing the rule
book for E-Rickshaws for the safety and security of the
commuters using these systems. Policy guidelines are
required on whether E-Rickshaws are an Intermediate Para-
Transit (IPT) system, who is responsible for the licensing
and regulation and how it gets integrated and act as feeder
to the public transport. Specific provisions are required to
address questions on speed, vehicle specifications,
insurance, lane traffic and fare charges. This requires a
policy framework to address the concerns of both e-
rickshaw drivers and its counterparts.
According to the Society of Manufacturers of Electric Vehicles (SMEV), electric vehicles' sale doubled in terms of volume in the FY 2017-18 compared to the previous year, majorly through unregulated E-Rickshaw market, with 850,000 E-Rickshaw sold in the specified period. The drivers of the traditional manually-pulled rickshaws have found E-Rickshaws quicker, quieter and easier to keep running as they require less effort, compared to the pedal-cycle rickshaws. This results in more rides and lesser effort for the driver, making E-Rickshaws a rather beneficial investment for them.
The Indian government is currently focusing on promoting electric vehicles in the public transportation and fleets, with emphasis on two-wheelers and three-wheelers, taxis and buses. One of the biggest hurdles in the growth of electric vehicles in India is the dearth of charging and battery-swap stations. The Ministry of Finance is in the process of finalising a plan to spend approximately US$600 million over a period of five years to upgrade the country's charging infrastructure as well as to provide better subsidies on electric buses. According to BNEF, India had just 425 public charging stations in 2017 and it is expected that with government and public initiatives this number will boost to 2,800 by 2022.
?
?Passenger Carrier of India E-Rickshaw Market dominated the market in 2018 and is expected to maintain its lead in 2025?
In terms of segmentation by vehicle type, India E-Rickshaw market has been segmented into Passenger and Load carrier. In 2018, passenger carrier dominated the market and is expected to maintain its lead by the year 2025. With growing working population, the need for efficient transportation network has also increased. Hence, as E-Rickshaw is easily available and offers convenient ride, the number of commuters preferring E-Rickshaw for short distance is increasing. All these factors would help better and increased adoption of E-Rickshaw in major Indian cities.
?Amongst battery type, lead acid holds the major share in 2018 while li-ion is expected to grow considerably during the forecast period.?
Based on battery type, India E-Rickshaw market has been segmented into lead acid and li-ion battery. In 2018, lead acid dominated the battery type segment of India E-Rickshaw, generating revenue of US$ 2.17 billion. Though, lead acid battery continues to keep dominating the market over the forecast period while witnessing the benefits offered by li-ion battery. Li-ion battery is expected to grow at the highest CAGR rate during the projection period.
?Owned E-Rickshaw dominated the Indian E-Rickshaw market?
Based on ownership type the Indian E-Rickshaw market is segregated into owned and rented E-Rickshaw. In 2018, owned E-Rickshaw dominated the market and is expected to remain dominant, however rented E-Rickshaw market is expected to witness high adoption in cities such as Delhi-NCR, and other cities in the South Indian region. High income associated with rented E-Rickshaw, as the driver don't have to bear the maintenance cost would drive the market for rented E-Rickshaw in India.
?Delhi-NCR, Lucknow and Kolkata regions together hold 40% of the market share of India E-Rickshaw Market in 2018 and will continue to do so over the forecast period?
Based on region, detailed analysis has been conducted to understand the overall rate of adoption of E-Rickshaw in major Indian cities including Delhi-NCR, Lucknow, Kolkata, Nagpur, Bengaluru, Pune, Chennai, Hyderabad and other cities. Delhi-NCR captured the maximum market share and is expected to keep leading the India E-Rickshaw market over the projection period. However, with increasing acceptance, it is believed that several cities including Kolkata, Bengaluru, Chennai, and Hyderabad will witness considerable growth in the India E-Rickshaw Market.
?
Strategies of Cab & Other Aggregators for E-Rickshaw Sector in India
Competitive Landscape- Organised and Unorganised Players
India E-Rickshaw market is very much fragmented. The E-Rickshaw market in India is basically made by assembling its parts together at the manufacturer's facility. These parts are either imported from China or supplied from local suppliers. India E-Rickshaw market is mainly dominated by local unorganised players with few established players. Some of the organised players operating in this industry include Saera Electric Auto, Atul Auto, Kinetic Green, Terra Motors, Ok Play, Hero Electric and Mahindra & Mahindra, which together hold nearly 15% of the market.
Reasons to buy:
? India E-Rickshaw market study presents the current market size, trend, forecast until 2025 for different Indian cities. The analysis presented in the report is a combination of deep dive secondary research and input from Key Opinion Leader of the industry including the E-Rickshaw drivers
? The report presents a quick review of overall industry performance at one glance
? Initiative of OEM's vs Aggregators for increasing the overall adoption of E-Rickshaw in India is also presented in the report
? Key benefits of the E-Rickshaw for the drivers are also included in the study along with characteristics of drivers and travelers
? The report covers in-depth analysis of prominent industry peer with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments, revenue and business model
? Detailed examination on drivers, restraints, key trends and opportunities prevailing in the industry
? Examination of industry attractiveness with the help of Porter's Five Forces analysis
? The study comprehensively covers the market across different segments and sub segments
Customization Options:
India E-Rickshaw market can be customized to the state level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients
Table of Contents
1. MARKET INTRODUCTION
1.1 Market Definition 13
1.2 Objective of the Study 13
1.3 Limitation 13
1.4 Stakeholders 14
1.5 Currency used in the Report 14
1.6 Scope of the India E-Rickshaw Market Study 14
2. RESEARCH METHODOLOGY 15
2.1 Research Methodology for Indian E-Rickshaw Market Study 15
2.1.1 Main objective of the Indian E-Rickshaw Market Study 16
3. EXECUTIVE SUMMARY 17
4. REGULATORY FRAMEWORK AND GOVT. INITIATIVES FOR E-RICKSHAWS 21
4.1 General Overview 21
4.1.1 Delhi-NCR Regulation of E-Rickshaw 22
4.1.2 Kolkata Regulation of E-Rickshaw 24
4.1.3 Lucknow Regulation of E-Rickshaw 24
4.1.4 Nagpur Regulation of E-Rickshaw 25
4.1.5 Pune Regulation of E-Rickshaw 25
4.1.6 Hyderabad Regulation of E-Rickshaw 25
5. MARKET OVERVIEW 26
5.1 Introduction 26
5.1.1 Characteristics of E-Rickshaw service in India 27
5.1.2 Social characteristics of Drivers in the Indian E-Rickshaw service Industry 27
5.1.3 Previous Professions of Drivers in the Indian E-Rickshaw service Industry 28
5.1.4 Recommendation and Suggestions by E-Rickshaw Drivers in India 29
5.1.5 Social characteristics of Travellers of E-Rickshaw in India 29
5.1.6 Recommendation and Suggestions by E-Rickshaw travellers in India 30
5.1.7 Advantage & Disadvantage of E-Rickshaw Service in India 30
5.2 Market Dynamics 31
5.2.1 Market Trend & Drivers 31
5.2.1.1 Increasing Governmental Support 31
5.2.1.2 Declining Battery Prices 32
5.2.1.3 Cost Effectiveness as Compared to Conventional Three Wheelers 33
5.2.2 Market Restraints 34
5.2.2.1 Lack of Optimum Charging Infrastructure 34
5.2.2.2 Distance Proximity and Speed Limit 35
5.2.2.3 Ambiguous Operational Guidelines 36
5.2.3 Market Opportunities 36
5.2.3.1 Increase in Need of Public Transportation 36
5.2.3.2 Increase in Demand of Lithium ion Battery Based E-Rickshaw 37
5.3 Key Market Indicators 38
5.3.1 Demand and Supply Side Analysis 38
5.3.2 Value Chain Analysis of Indian E-Rickshaw Sector 40
5.3.3 India Advantage for Automotive Industry 41
6. INDUSTRY PERFORMANCE 42
7. BUSINESS/ REVENUE MODEL FOR E-RICKSHAW DRIVERS IN INDIA 43
7.1 General Overview 43
7.1.1 Become a Manufacturer and Supplier 43
7.1.1.1 Break Even Point for Self-owned Rickshaw Drivers 43
7.1.2 Renting E-Rickshaw to a Driver on daily/monthly basis 44
7.1.2.1 Break Even Point for E-Rickshaw Owner (Rented E-Rickshaw) 44
7.1.3 Income Earned by E-Rickshaw Driver in Indian Cities 44
8. MARKET INSIGHST BY VEHICLE TYPE 46
8.1 General Overview 46
8.1.1 Passenger Carrier E-Rickshaw 48
8.1.2 Load Carrier E-Rickshaw 49
9. MARKET INSIGHT BY BATTERY TYPE 51
9.1 General Overview 51
9.1.1 Sealed Lead Acid Battery E-Rickshaw 53
9.1.2 Li-Ion Battery E-Rickshaw 54
10. MARKET INSIGHT BY OWNERSHIP TYPE 56
10.1 General Overview 56
10.1.1 Owned E-Rickshaw 58
10.1.2 Rented E-Rickshaw 59
11. MARKET INSIGHT BY REGION 61
11.1 General Overview 61
11.2 Kolkata E-Rickshaw Market Insight 63
11.2.1 Government Plan & Initiative for E-Rickshaw in Kolkata 63
11.2.2 Key Players initiative for E-Rickshaw in Kolkata 63
11.2.2.1 Kolkata E-Rickshaw Market, by Vehicle Type 2018-2025 64
11.2.2.2 Kolkata E-Rickshaw Market, by Battery Type 2018-2025 65
11.2.2.3 Kolkata E-Rickshaw Market, by Ownership Type 2018-2025 66
11.3 Nagpur E-Rickshaw Market Insight 67
11.3.1 Government Plan & Initiative for E-Rickshaw in Nagpur 67
11.3.2 Key Players initiatives for E-Rickshaw in Nagpur 67
11.3.2.1 Nagpur E-Rickshaw Market, by Vehicle Type 2018-2025 68
11.3.2.2 Nagpur E-Rickshaw Market, by Battery Type 2018-2025 69
11.3.2.3 Nagpur E-Rickshaw Market, by Ownership Type 2018-2025 70
11.4 Delhi-NCR E-Rickshaw Market Insight 71
11.4.1 Government Plan & Initiative for E-Rickshaw in Delhi 71
11.4.2 Key Players initiatives for E-Rickshaw in Delhi 71
11.4.3 Cab Aggregator Initiatives 72
11.4.3.1 Delhi-NCR E-Rickshaw Market, by Vehicle Type 2018-2025 72
11.4.3.2 Delhi-NCR E-Rickshaw Market, by Battery Type 2018-2025 73
11.4.3.3 Delhi-NCR E-Rickshaw Market, by Ownership Type 2018-2025 74
11.5 Lucknow E-Rickshaw Market Insight 75
11.5.1 Government Plan & Initiative for E-Rickshaw in Lucknow 75
11.5.2 Key Players initiatives for E-Rickshaw in Lucknow 76
11.5.2.1 Lucknow E-Rickshaw Market, by Vehicle Type 2018-2025 76
11.5.2.2 Lucknow E-Rickshaw Market, by Battery Type 2018-2025 77
11.5.2.3 Lucknow E-Rickshaw Market, by Ownership Type 2018-2025 78
11.6 Bengaluru E-Rickshaw Market Insight 79
11.6.1 Driver for E-Rickshaw market in Bengaluru 79
11.6.2 Government Plan & Initiative for E-Rickshaw in Bengaluru 80
11.6.2.1 Bengaluru E-Rickshaw Market, by Vehicle Type 2018-2025 80
11.6.2.2 Bengaluru E-Rickshaw Market, by Battery Type 2018-2025 81
11.6.2.3 Bengaluru E-Rickshaw Market, by Ownership Type 2018-2025 82
11.7 Pune E-Rickshaw Market Insight 83
11.7.1 Government Plan & Initiative for E-Rickshaw in Pune 83
11.7.2 Key Players initiatives for E-Rickshaw in Pune 84
11.7.2.1 Pune E-Rickshaw Market, by Vehicle Type 2018-2025 84
11.7.2.2 Pune E-Rickshaw Market, by Battery Type 2018-2025 85
11.7.2.3 Pune E-Rickshaw Market, by Ownership Type 2018-2025 86
11.8 Chennai E-Rickshaw Market Insight 87
11.8.1 Key Players Initiative for E-Rickshaw in Chennai 87
11.8.1.1 Chennai E-Rickshaw Market, by Vehicle Type 2018-2025 87
11.8.1.2 Chennai E-Rickshaw Market, by Battery Type 2018-2025 88
11.8.1.3 Chennai E-Rickshaw Market, by Ownership Type 2018-2025 89
11.9 Hyderabad E-Rickshaw Market Insight 90
11.9.1 Government Plan & Initiative for E-Rickshaw in Hyderabad 90
11.9.2 Key Players initiatives for E-Rickshaw in Hyderabad 91
11.9.2.1 Hyderabad E-Rickshaw Market, by Vehicle Type 2018-2025 91
11.9.2.2 Hyderabad E-Rickshaw Market, by Battery Type 2018-2025 92
11.9.2.3 Hyderabad E-Rickshaw Market, by Ownership Type 2018-2025 93
11.10 Rest of India Cities E-Rickshaw Market Insight 94
11.10.1 Government Plan & Initiative for E-Rickshaw 95
11.10.1.1 Rest of India E-Rickshaw Market, by Vehicle Type 2018-2025 95
11.10.1.2 Rest of India E-Rickshaw Market, by Battery Type 2018-2025 96
11.10.1.3 Rest of India E-Rickshaw Market, by Ownership Type 2018-2025 97
12. GOVT. PROGRAMS AND INITIATIVES FOR EVS AND EV CHARGING OUTLETS 99
12.1 General Overview 99
12.1.1 Quick Pilot proposal on EV charging infrastructure 100
12.1.2 National Electric Mobility Mission Plan (NEMMP) 2020 101
12.1.3 Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) 101
12.1.4 NITI Aayog Plan 101
13. COMPETITIVE SCENARIO 103
13.1 Cab & Other Aggregators Initiatives for E-Rickshaw sector in India 103
13.2 Porter's Five forces analysis 104
13.2.1 Bargaining Power of Suppliers 104
13.2.2 Bargaining Power of Buyers 105
13.2.3 Threat of New Entrants 106
13.2.4 Threat of Substitutes 107
13.2.5 Industry Rivalry 107
14. COMPANY PROFILES 109
14.1 Terra Motors Corporation 109
14.1.1 Key Facts 109
14.1.2 Business Description 109
14.1.3 Key Product/Services Offerings 109
14.1.4 SWOT Analysis 110
14.1.5 Recent Developments 110
14.2 Hero Electric Vehicles Private Ltd. 111
14.2.1 Key Facts 111
14.2.2 Business Description 111
14.2.3 Key Product/Services Offerings 111
14.2.4 SWOT Analysis 112
14.2.5 Recent Developments 112
14.3 Atul Auto Ltd. 113
14.3.1 Key Facts 113
14.3.2 Business Description 113
14.3.3 Key Product/Services Offerings 114
14.3.4 SWOT Analysis 114
14.3.5 Key Financials 115
14.3.5.1 Revenue Split 116
14.3.6 Recent Developments 116
14.4 Electrotherm (India) Limited 117
14.4.1 Key Facts 117
14.4.2 Business Description 117
14.4.3 Key Product/Services Offerings 118
14.4.4 SWOT Analysis 118
14.4.5 Key Financials 119
14.4.5.1 Revenue Split 119
14.4.6 Recent Developments 120
14.5 OK Play India Limited 120
14.5.1 Key Facts 120
14.5.2 Business Description 121
14.5.3 Key Product/Services Offerings 121
14.5.4 SWOT Analysis 122
14.5.5 Key Financials 123
14.5.6 Recent Developments 124
14.6 Mahindra & Mahindra Limited 125
14.6.1 Key Facts 125
14.6.2 Business Description 125
14.6.3 Key Product/Services Offerings 126
14.6.4 SWOT Analysis 127
14.6.5 Key Financials 128
14.6.5.1 Revenue Split 129
14.6.6 Recent Developments 129
14.7 Kinetic Engineering Limited 130
14.7.1 Key Facts 130
14.7.2 Business Description 130
14.7.3 Key Product/Services Offerings 131
14.7.4 SWOT Analysis 131
14.7.5 Key Financials 132
14.7.6 Recent Developments 133
14.8 Lohia Auto Industries 134
14.8.1 Key Facts 134
14.8.2 Business Description 134
14.8.3 Key Product/Services Offerings 134
14.8.4 SWOT Analysis 135
14.8.5 Recent Developments 135
14.9 Saera Electric Auto Pvt. Ltd. 136
14.9.1 Key Facts 136
14.9.2 Business Description 136
14.9.3 Key Product/Services Offerings 136
14.9.4 SWOT Analysis 137
14.9.5 Recent Developments 137
14.10 GreenRick 138
14.10.1 Key Facts 138
14.10.2 Business Description 138
14.10.3 Key Product/Services Offerings 138
14.10.4 SWOT Analysis 139
List of Figures
FIG. 1 Scope of the India E-Rickshaw Market Study 14
FIG. 2 Research Methodology for Indian E-Rickshaw Market Study 15
FIG. 3 Electric Vehicle Ecosystem 18
FIG. 4 Split of Place, E-Rickshaw Drivers Charge their Vehicle & Company Share by Type of Market, 2017 (%) 19
FIG. 5 India E-Rickshaw Market by Value, 2018-2025 20
FIG. 6 India E-Rickshaw Market by Volume, 2018-2025 20
FIG. 7 Social characteristics of Drivers in the Indian E-Rickshaw service Industry 27
FIG. 8 Previous Professions of Drivers in the Indian E-Rickshaw service Industry 28
FIG. 9 Recommendation and Suggestions by E-Rickshaw Drivers 29
FIG. 10 Social characteristics of Travellers in the Indian E-Rickshaw service Industry 29
FIG. 11 Recommendation and Suggestions by E-Rickshaw Travellers 30
FIG. 12 India Greenhouse Gas Emissions by Industrial Sector (%), 2017 31
FIG. 13 Indian Electric Vehicle Ecosystem 32
FIG. 14 Average Cost of EV Battery Pack (2010-2016) ($ per kWh) 33
FIG. 15 Overview of Initial Cost and Daily Earnings of Rickshaw in Delhi 34
FIG. 16 Charging Facility for an E-Rickshaw 35
FIG. 17 Year on Year Growth Rate of Urban Population in India 36
FIG. 18 India's Global Emission Ranking 38
FIG. 19 India's E-Rickshaw Percentage Share by Activity & by Age Group 39
FIG. 20 India's E-Rickshaw Value Chain 40
FIG. 21 India Advantage for Automotive Industry 41
FIG. 22 Comparative Cost Analysis of Electric 3-Wheelers with Petrol-Fuelled Counterparts (Cost (US$) per km, in Thousand) 46
FIG. 23 Indian E-Rickshaw Market Size by Vehicle Type 2018-2025 (US$ Million) 47
FIG. 24 Indian E-Rickshaw Market Size by Vehicle Type 2018-2025 (Thousand Units) 47
FIG. 25 E-Rickshaw Estimated Battery Market (US$ Million), (2015-2020) & Player Share, (%) 51
FIG. 26 Indian E-Rickshaw Market Size by Battery Type 2018-2025 (US$ Million) 52
FIG. 27 Indian E-Rickshaw Market Size by Battery Type 2018-2025 (Thousand Units) 52
FIG. 28 Battery Specifications 53
FIG. 29 Ownership Structure of Indian E-Rickshaw Market, by Region 2018, (%) 56
FIG. 30 Indian E-Rickshaw Market Size by Ownership Type 2018-2025 (US$ Million) 57
FIG. 31 Indian E-Rickshaw Market Size by Ownership Type 2018-2025 (Thousand Units) 57
FIG. 32 Battery Specifications 61
FIG. 33 Cost-Effectiveness of E-Rickshaw 62
FIG. 34 Kolkata E-Rickshaw Market, by Vehicle Type 2018-2025 (US$ Million) 64
FIG. 35 Kolkata E-Rickshaw Market, by Vehicle Type 2018-2025 (Thousand Units) 64
FIG. 36 Kolkata E-Rickshaw Market, by Battery Type 2018-2025 (US$ Million) 65
FIG. 37 Kolkata E-Rickshaw Market, by Battery Type 2018-2025 (Thousand Units) 65
FIG. 38 Kolkata E-Rickshaw Market, by Ownership Type 2018-2025 (US$ Million) 66
FIG. 39 Kolkata E-Rickshaw Market, by Ownership Type 2018-2025 (Thousand Units) 66
FIG. 40 Nagpur E-Rickshaw Market, by Vehicle Type 2018-2025 (US$ Million) 68
FIG. 41 Nagpur E-Rickshaw Market, by Vehicle Type 2018-2025 (Thousand Units) 68
FIG. 42 Nagpur E-Rickshaw Market, by Battery Type 2018-2025 (US$ Million) 69
FIG. 43 Nagpur E-Rickshaw Market, by Battery Type 2018-2025 (Thousand Units) 69
FIG. 44 Nagpur E-Rickshaw Market, by Ownership Type 2018-2025 (US$ Million) 70
FIG. 45 Nagpur E-Rickshaw Market, by Ownership Type 2018-2025 (Thousand Units) 70
FIG. 46 Delhi-NCR E-Rickshaw Market, by Vehicle Type 2018-2025 (US$ Million) 72
FIG. 47 Delhi-NCR E-Rickshaw Market, by Vehicle Type 2018-2025 (Thousand Units) 73
FIG. 48 Delhi-NCR E-Rickshaw Market, by Battery Type 2018-2025 (US$ Million) 73
FIG. 49 Delhi-NCR E-Rickshaw Market, by Battery Type 2018-2025 (Thousand Units) 74
FIG. 50 Delhi-NCR E-Rickshaw Market, by Ownership Type 2018-2025 (US$ Million) 74
FIG. 51 Delhi-NCR E-Rickshaw Market, by Ownership Type 2018-2025 (Thousand Units) 75
FIG. 52 Lucknow E-Rickshaw Market, by Vehicle Type 2018-2025 (US$ Million) 76
FIG. 53 Lucknow E-Rickshaw Market, by Vehicle Type 2018-2025 (Thousand Units) 77
FIG. 54 Lucknow E-Rickshaw Market, by Battery Type 2018-2025 (US$ Million) 77
FIG. 55 Lucknow E-Rickshaw Market, by Battery Type 2018-2025 (Thousand Units) 78
FIG. 56 Lucknow E-Rickshaw Market, by Ownership Type 2018-2025 (US$ Million) 78
FIG. 57 Lucknow E-Rickshaw Market, by Ownership Type 2018-2025 (Thousand Units) 79
FIG. 58 Bengaluru E-Rickshaw Market, by Vehicle Type 2018-2025 (US$ Million) 80
FIG. 59 Bengaluru E-Rickshaw Market, by Vehicle Type 2018-2025 (Thousand Units) 81
FIG. 60 Bengaluru E-Rickshaw Market, by Battery Type 2018-2025 (US$ Million) 81
FIG. 61 Bengaluru E-Rickshaw Market, by Battery Type 2018-2025 (Thousand Units) 82
FIG. 62 Bengaluru E-Rickshaw Market, by Ownership Type 2018-2025 (US$ Million) 82
FIG. 63 Bengaluru E-Rickshaw Market, by Ownership Type 2018-2025 (Thousand Units) 83
FIG. 64 Pune E-Rickshaw Market, by Vehicle Type 2018-2025 (US$ Million) 84
FIG. 65 Pune E-Rickshaw Market, by Vehicle Type 2018-2025 (Thousand Units) 84
FIG. 66 Pune E-Rickshaw Market, by Battery Type 2018-2025 (US$ Million) 85
FIG. 67 Pune E-Rickshaw Market, by Battery Type 2018-2025 (Thousand Units) 85
FIG. 68 Pune E-Rickshaw Market, by Ownership Type 2018-2025 (US$ Million) 86
FIG. 69 Pune E-Rickshaw Market, by Ownership Type 2018-2025 (Thousand Units) 86
FIG. 70 Chennai E-Rickshaw Market, by Vehicle Type 2018-2025 (US$ Million) 87
FIG. 71 Chennai E-Rickshaw Market, by Vehicle Type 2018-2025 (Thousand Units) 88
FIG. 72 Chennai E-Rickshaw Market, by Battery Type 2018-2025 (US$ Million) 88
FIG. 73 Chennai E-Rickshaw Market, by Battery Type 2018-2025 (Thousand Units) 89
FIG. 74 Chennai E-Rickshaw Market, by Ownership Type 2018-2025 (US$ Million) 89
FIG. 75 Chennai E-Rickshaw Market, by Ownership Type 2018-2025 (Thousand Units) 90
FIG. 76 Hyderabad E-Rickshaw Market, by Vehicle Type 2018-2025 (US$ Million) 91
FIG. 77 Hyderabad E-Rickshaw Market, by Vehicle Type 2018-2025 (Thousand Units) 92
FIG. 78 Hyderabad E-Rickshaw Market, by Battery Type 2018-2025 (US$ Million) 92
FIG. 79 Hyderabad E-Rickshaw Market, by Battery Type 2018-2025 (Thousand Units) 93
FIG. 80 Hyderabad E-Rickshaw Market, by Ownership Type 2018-2025 (US$ Million) 93
FIG. 81 Hyderabad E-Rickshaw Market, by Ownership Type 2018-2025 (Thousand Units) 94
FIG. 82 Rest of India E-Rickshaw Market, by Vehicle Type 2018-2025 (US$ Million) 95
FIG. 83 Rest of India E-Rickshaw Market, by Vehicle Type 2018-2025 (Thousand Units) 96
FIG. 84 Rest of India E-Rickshaw Market, by Battery Type 2018-2025 (US$ Million) 96
FIG. 85 Rest of India E-Rickshaw Market, by Battery Type 2018-2025 (Thousand Units) 97
FIG. 86 Rest of India E-Rickshaw Market, by Ownership Type 2018-2025 (US$ Million) 97
FIG. 87 Rest of India E-Rickshaw Market, by Ownership Type 2018-2025 (Thousand Units) 98
FIG. 88 EV Policy Planning: Indian Political Structure 99
FIG. 89 Major EV Policies Undertaken in India 100
FIG. 90 NITI Aayog: Planned Mobility Transformation 102
FIG. 91 Cab & Other Aggregators Initiatives for E-Rickshaw sector in India 103
FIG. 92 India E-Rickshaw Market: Porter's Five Forces Analysis 104
FIG. 93 Terra Motors Corporation SWOT Analysis 110
FIG. 94 Hero Electric Vehicles Private Limited SWOT Analysis 112
FIG. 95 Atul Auto Ltd. SWOT Analysis 114
FIG. 96 Atul Auto Ltd. Revenue Split, 2018 116
FIG. 97 Electrotherm (India) Limited SWOT Analysis 118
FIG. 98 Electrotherm (India) Ltd. Revenue Split, 2017-2018 119
FIG. 99 OK Play India Limited SWOT Analysis 122
FIG. 100 Mahindra & Mahindra Limited SWOT Analysis 127
FIG. 101 Mahindra & Mahindra Ltd. Revenue Split, 2018 129
FIG. 102 Kinetic Engineering Limited SWOT Analysis 131
FIG. 103 Lohia Auto Industries SWOT Analysis 135
FIG. 104 Saera Electric Auto Pvt. Ltd. SWOT Analysis 137
FIG. 105 GreenRick SWOT Analysis 139
List of Tables
TABLE 1 Characteristics of E-Rickshaw Service in India 27
TABLE 2 Advantage & Disadvantage of E-Rickshaw Service in India 30
TABLE 3 Basic Overview of Initial Cost and Daily Earnings of Rickshaw in Delhi 33
TABLE 4 Break Even Point for Self-owned Rickshaw Drivers 43
TABLE 5 Break Even Point for E-Rickshaw Owner (Rented E-Rickshaw) 44
TABLE 6 Earnings per month of E-Rickshaw Driver in India 44
TABLE 7 Savings per month of E-Rickshaw Driver in India 45
TABLE 8 Indian Passenger Carrier E-Rickshaw Market by Region 2018-2025 (US$ Million) 48
TABLE 9 Indian Passenger Carrier E-Rickshaw Market by Region 2018-2025 (Thousand Units) 49
TABLE 10 Indian Load Carrier E-Rickshaw Market by Region 2018-2025 (US$ Million) 50
TABLE 11 Indian Load Carrier E-Rickshaw Market by Region 2018-2025 (Thousand Units) 50
TABLE 12 Indian Sealed Lead Acid Battery E-Rickshaw Market by Region 2018-2025 (US$ Million) 53
TABLE 13 Indian Sealed Lead Acid Battery E-Rickshaw Market by Region, 2018-2025 (Thousand Units) 54
TABLE 14 Indian Li-Ion Battery E-Rickshaw Market by Region 2018-2025 (US$ Million) 55
TABLE 15 Indian Li-Ion Battery E-Rickshaw Market by Region 2018-2025 (Thousand Units) 55
TABLE 16 Indian Owned E-Rickshaw Market by Region 2018-2025 (US$ Million) 58
TABLE 17 Indian Owned E-Rickshaw Market by Region 2018-2025 (Thousand Units) 59
TABLE 18 Indian Rented E-Rickshaw Market by Region 2018-2025 (US$ Million) 60
TABLE 19 Indian Rented E-Rickshaw Market by Region 2018-2025 (Thousand Units) 60
TABLE 20 Indian E-Rickshaw Market by Region 2018-2025 (US$ Million) 62
TABLE 21 Indian E-Rickshaw Market by Region 2018-2025 (Thousand Units) 63
TABLE 22 Terra Motors Key Facts 109
TABLE 23 Product segmentation of Terra Motors Corporation 109
TABLE 24 Terra Motors Corporation Growth Strategy 110
TABLE 25 Hero Electric Vehicles Private Limited Key Facts 111
TABLE 26 Product segmentation of Hero Electric Vehicles Private Limited 111
TABLE 27 Hero Electric Vehicles Private Limited Growth Strategy 111
TABLE 28 Atul Auto Ltd. Key Facts 113
TABLE 29 Product segmentation of Atul Auto Ltd. 114
TABLE 30 Atul Auto Ltd. Growth Strategy 114
TABLE 31 Electrotherm (India) Ltd., Key Facts 117
TABLE 32 Product segmentation of Electrotherm (India) Limited 118
TABLE 33 Electrotherm (India) Limited Growth Strategy 118
TABLE 34 OK Play India Ltd. Key Facts 120
TABLE 35 Product segmentation of OK Play India Limited 121
TABLE 36 OK Play India Limited Growth Strategy 121
TABLE 37 Mahindra & Mahindra Ltd. Key Facts 125
TABLE 38 Product segmentation of Mahindra & Mahindra Limited 126
TABLE 39 Mahindra & Mahindra Limited Growth Strategy 126
TABLE 40 Kinetic Engineering Ltd. Key Facts 130
TABLE 41 Product segmentation of Kinetic Engineering Limited 131
TABLE 42 Kinetic Engineering Limited Growth Strategy 131
TABLE 43 Lohia Auto Industries Key Facts 134
TABLE 44 Product segmentation of Lohia Auto Industries 134
TABLE 45 Lohia Auto Industries Growth Strategy 135
TABLE 46 Saera Electric Auto Pvt. Ltd. Key Facts 136
TABLE 47 Product segmentation of Saera Electric Auto Pvt. Ltd. 136
TABLE 48 Saera Electric Auto Pvt. Ltd. Growth Strategy 136
TABLE 49 GreenRick Key Facts 138
TABLE 50 Product segmentation of GreenRick 138
TABLE 51 GreenRick Growth Strategy 139
Terra Motors Corporation
Hero Electric Vehicles Private Ltd
Atul Auto Ltd.
Electrotherm (India) Limited
OK Play India Limited
Mahindra & Mahindra Limited
Kinetic Engineering Limited
Lohia Auto Industries
Saera Electric Auto Pvt. Ltd.
GreenRick
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