Press release
India Electric Rickshaw Battery Market Research Report | Key Players are Exide Industries Ltd., Amara Raja Batteries Ltd., Eastman Auto & Power Ltd., Okaya Power Pvt. Ltd.
Some of the major players operating in the Indian electric rickshaw battery market are-
1. Exide Industries Ltd.
2. Amara Raja Batteries Ltd.
3. Eastman Auto & Power Ltd.
4. Okaya Power Pvt. Ltd.
5. Sparco Batteries Pvt. Ltd.
6. Grand Batteries Pvt. Ltd.,
7. Gem Batteries Pvt. Ltd.
The other major factor propelling the growth in the demand for electric rickshaw batteries is the increasing average age of the electric rickshaws operating in the country, primarily due to the consolidation of the market by major electric rickshaw manufacturing companies. For instance, the average age of the electric rickshaws operating in India increased from 1.8 years in 2016 to 3.5 years in 2019. Powered by these factors, the Indian electric rickshaw battery market is predicted to increase its value from $385.0 million 2019 to $722.3 million in 2024, exhibiting a CAGR of 13.2% during the forecast period (2020–2024).
Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/india-electric-rickshaw-battery-market/report-sample
The research offers market size of the Indian electric rickshaw battery for the period 2014–2024.
Market Segmentation by Vehicle
Passenger Carrier
Load Carrier
Market Segmentation by Battery Capacity
101 Ah
Market Segmentation by End Use
Original Equipment Manufacturer (OEM)
Replacement
In India, the highest demand for electric rickshaw batteries was witnessed in Delhi, in 2018. The key factors contributing to this high-demand for electric rickshaw batteries are the presence of a large metro commuting population in the city, owing to the presence of a well-developed and extensive metro system and numerous companies and factories. From 2019 onward, Uttar Pradesh, owing to the increasing demand for electric rickshaws from rural areas and the mushrooming use of these vehicles in last-mile connectivity and feeder services, registered the highest demand for electric rickshaw batteries in the country.
Explore Full Report Description At@ https://www.psmarketresearch.com/market-analysis/india-electric-rickshaw-battery-market
Thus, due to the rising adoption of electric vehicles in the country, on account of their eco-friendly characteristics, lower operating costs, enhanced comfort of traveling and longer durability, the demand for electric rickshaw batteries is set to shoot-up in the coming years.
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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