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

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

  • April 2019 •
  • 104 pages •
  • Report ID: 5782424 •
  • Format: PDF
India Electric Rickshaw Motor and Controller Market by Vehicle (Battery Rickshaw, E-Auto, Retrofitted Rickshaw), by Motor Power (2,000 W), by End Use (OEM, Aftermarket) by State (Madhya Pradesh, Uttar Pradesh, Delhi, West Bengal, Rajasthan, Bihar, Haryana, Chhattisgarh, Uttarakhand, Punjab, Jharkhand, Assam, Tripura) - Market Size, Share, Development, Growth, and Demand Forecast till 2024

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. As per the report, 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, 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.

India Electric Rickshaw Motor and Controller Market Segmentation
Market Segmentation by Vehicle
• Battery Rickshaw
• E-Auto
• Retrofitted Rickshaw

Market Segmentation by Motor Power
• <800 W
• 800–1,000 W
• 1,001–1,500 W
• 1,501–2,000 W
• >2,000 W

Market Segmentation by End Use
• Original Equipment Manufacturer (OEM)
• Aftermarket

Market Segmentation by State
• Madhya Pradesh
• Uttar Pradesh
• Delhi
• West Bengal
• Rajasthan
• Bihar
• Haryana
• Chhattisgarh
• Uttarakhand
• Punjab
• Jharkhand
• Assam
• Tripura
• Rest of India