PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1270357
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1270357
Rickshaw Lead Acid Battery Market size was valued at USD 20,507.3 Million in 2022, expanding at a CAGR of 12.9% from 2023 to 2030.
The first type of reusable battery was the lead acid battery, also called a lead storage battery. The battery is a typical form of energy storage. French scientist Gaston Plante created the lead acid battery in the year 1859. Lead-acid batteries are still used in a variety of uses. These are frequently used in automobiles where the battery can supply a strong current for the moving power.
Lead acid battery demand was significantly impacted by the country's growing interest in electric three-wheelers. The public has been encouraged to utilise electric three-wheelers (EV) due to the increased pollution brought on by regular vehicles' usage of combustible fuels as well as the release of toxic substances into the environment. The government is actively promoting the production of the batteries and parts for hybrid and electric vehicles. The India E-Rickshaw Lead Acid Battery Market is anticipated to grow over the next years as a result of the anticipated increase in e-rikshaw demand. There is a market for small commercial vehicles and passenger-carrying electric rickshaws. Government financing for e-rickshaw charging infrastructure would aid in the market expansion for lead acid batteries used in these vehicles in India.
Additionally, shared mobility services reduce traffic in cities and emissions overall. In order to effectively manage transportation demand, digitally enabled ride-hailing and e-rickshaw sharing are used. These services also provide a practical, cost-effective, and environmentally friendly alternative to owning a private vehicle. By eliminating manual labour and reducing total time and cost, ride-hailing services are expected to play a key role in the industry throughout the course of the forecast period, contributing to the expansion of the India e-rickshaw lead acid battery market.
Rickshaw Lead Acid Battery market is segmented based on battery capacity, vehicle type, end-use, and Region.
Based on battery capacity, the electric rickshaw battery market has been divided into >101 Ah and <101 Ah categories. The >101 Ah segment is dominate highest revenue in 2022, owing to these variants cost less than those with higher-capacity batteries, this is expacted to retain its dominance over the projected period.
Based on the end user, it is anticipated that the passenger carrier category will hold a large portion of the Indian electric rickshaw market in the future. The number of passenger carrier e-rickshaws is booming on the nation's highways as a result of the growing urban population driving the demand for affordable first and last-mile transportation.
The North India is expected to dominate the market during the forecast period. Uttar Pradesh has the largest market in North India. Due to the country's increasing air pollution, subsidies are now available for the purchase of e-rickshaws, which has led to an increase in e-rickshaw sales. In the next years, the e-rickshaw market is anticipated to be the greatest revenue contributor to the EV sector due to the rising demand for these environmentally friendly public transportation options in several metropolises, including Bangalore, Pune, Mumbai, and more. Morever, With subsidies for rickshaws, automobiles, and two-wheelers, among other vehicles, the nation has also created a strategy for the Transport Department that specifies that 25% of all new vehicle registrations by 2023 will be electric.
In October 2022, A public interest litigation (PIL) that supported the use of lead-acid batteries in electric rickshaws was denied by the Delhi high court. The acid battery's dangers and widespread use in numerous applications were also discussed on the bench.
In July 2022, Amara Raja Batteries (ARBL) has made plans to grow its lead-acid industry with a number of opportunities to expand outside of India. The corporation concentrates on growing the lead-acid business as part of the expansion, notably in South-East AsiaEast, and Africa.
This proposed research study on the Rickshaw Lead Acid Battery market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Rickshaw Lead Acid Battery market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain the Rickshaw Lead Acid Battery market
The impact of COVID-19 on the Rickshaw Lead Acid Battery market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Rickshaw Lead Acid Battery market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Rickshaw Lead Acid Battery market, we have also included a competitive landscape and key innovator analysis for the Rickshaw Lead Acid Battery market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Rickshaw Lead Acid Battery market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Rickshaw Lead Acid Battery market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
GLOBAL RICKSHAW LEAD ACID BATTERY MARKET KEY PLAYERS
Amara Raja Batteries Ltd.
Swastik Auto Industries
Z-Power Impex Private Limited
Gem Batteries Pvt. Ltd.
Exide Industries Ltd.
Eastman Auto and Power Limited
Okaya Power Pvt. Ltd.
Jay Ace Technologies Ltd.
Luminous Power Technologies Pvt. Ltd.
Microtex Energy Private Limited
Leoch International Technology Limited
GLOBAL RICKSHAW LEAD ACID BATTERY MARKET, BY BATTERY CAPACITY
GLOBAL RICKSHAW LEAD ACID BATTERY MARKET, BY VEHICLE TYPE
GLOBAL RICKSHAW LEAD ACID BATTERY MARKET, BY END-USER
GLOBAL RICKSHAW LEAD ACID BATTERY MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA