DUBLIN--(BUSINESS WIRE)--The "India Electric Rickshaw Motor and Controller Market by Vehicle, by Motor Power, by End Use, by State - Market Size, Share, Development, Growth, and Demand Forecast till 2024" report has been added to ResearchAndMarkets.com's offering.
The Indian electric rickshaw motor and controller market is expected to attain a size of $86.0 million by 2024, with a revenue contribution of $59.8 million from the motor domain and $26.2 million from the controller domain.
The major factors driving the growth of the market are the flourishing electric rickshaw market and the rising average life of these vehicles. The e-rickshaw market in the country is predicted to progress at a CAGR of over 15.0% in terms of sales volume during the forecast period (2019-2024), resulting in an increasing requirement for motors and controllers in the country.
Based on vehicle, the Indian electric rickshaw motor and controller market is categorized into e-auto, retrofitted rickshaw, and battery rickshaw. Among these, in 2018, the battery rickshaw motor category held the largest sales volume share of 95.6% in the market. However, the e-auto category is expected to register the fastest CAGR during the 2019-2024 period. Although the e-auto market is in its emerging phase, it is expected to prosper rapidly with the unveiling of improved and new e-auto models by organized players.
On the basis of motor power, the electric rickshaw motor market in India is divided into motors of power <800 W, 800-1,000 W, 1,00-1,500 W, 1,501-2,000 W, and >2,000 W. In 2018, electric rickshaws with motor power of 1,001-1,500 W led the market due to the existence of a large number of unorganized and local players selling motors in this category. However, during the forecast period, the electric motor of power between 1,501 W and 2,000 W and those with more than 2,000 W power are anticipated to witness a major rise in their sales.
Based on end user, the Indian electric rickshaw motor and controller market is divided into aftermarket and original equipment manufacturer (OEM). During the historical period (2014-2018), the OEM division dominated the market, owing to the low failure rate of controllers developed by organized players. This is expected to drive the growth of the market in this category during the forecast period.
Delhi held the largest share in the market during the 2014-2018 period, of more than 20.0% in terms of sales volume, and is further predicted to dominate the market in 2019 as well. However, Uttar Pradesh is anticipated to be the largest market for electric rickshaw controllers during 2023-2024 and for electric rickshaw motors in 2020-2024, due to the increasing demand for e-rickshaws from Tier-1 and Tier-2 cities and rural-urban areas in the state.
The key players in the Indian electric rickshaw motor and controller market are CY International, Changzhou Yufeng Vehicles Co. Ltd., Hangzhou Yuyang Technology Co. Ltd., and Changzhou Xieheng Power Technology Co. Ltd.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Market Breakdown and Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Vehicle
188.8.131.52 Battery rickshaw
184.108.40.206 Retrofitted rickshaw
4.1.2 By Motor Power
220.127.116.11 <800 W
18.104.22.168 800-1,000 W
22.214.171.124 1,001-1,500 W
126.96.36.199 1,501-2,000 W
188.8.131.52 >2,000 W
4.1.3 By End Use
4.2 Value Chain Analysis
4.3 Market Dynamics
184.108.40.206 Increase in investment by manufacturers
220.127.116.11 Growth in demand for electric rickshaw equipped with high motor power
18.104.22.168 Proliferation of electric rickshaws on Indian roads
22.214.171.124 Increase in the average age of electric rickshaws
126.96.36.199 Lack of clarity on operational guidelines for electric rickshaws
188.8.131.52 Substandard motors and controllers provided by local players
184.108.40.206 GST to drive consolidation, offering opportunities to organized players
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Intensity of Rivalry
4.4.4 Threat of New Entrants
4.4.5 Threat of Substitutes
Chapter 5. Import and Export Analysis
5.3 Major Domestic Electric Rickshaw Motor and Controller Manufacturers
5.4 Major Electric Rickshaw Motor and controller Exporters
Chapter 6. Price and Price Trend Analysis
Chapter 7. Electric Rickshaw Market Size and Forecast
7.1 Electric Rickshaw Market Size and Forecast by State
7.2 Major Electric Rickshaw Manufacturers in India
7.3 Retro Fitted Electric Rickshaw Market Size and Forecast
7.4 Market Share Analysis of Key Electric Rickshaw Manufacturers
Chapter 8. Motor Market Size and Forecast
8.1 By Vehicle
8.2 By Motor Power
8.3 By End Use
8.4 By State
Chapter 9. Controller Market Size and Forecast
9.1 By Vehicle
9.2 By End Use
9.3 By State
Chapter 10. Competitive Landscape
10.1 Market Share Analysis
10.2 Competitive Analysis
10.3 Recent Strategic Developments
- Changzhou Xieheng Power Technology Co. Ltd.
- Changzhou Yufeng Vehicles Co. Ltd.
- CY International
- Hangzhou Yuyang Technology Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/3miojw