Lithium Ion Batteries For E Rickshaw
Although lithium-ion batteries are becoming more popular than lead-acid batteries, they still account for the majority of e-rickshaw batteries. In this article, we will discuss the lithium batteries used in Indian e-rickshaws, as well as how the use of lithium-ion batteries for e-rickshaws is expected to increase in the coming years.
The various types of batteries used in e-rickshaws
E-rickshaws, which are battery-powered, are powered by electric motors ranging in power from 1400 to 6500 watts. Because of the significant savings in fuel costs, the e-rickshaw is a cost-effective and environmentally friendly mode of transportation. E-rickshaw batteries come in a variety of sizes and shapes. The battery design took into account longer range, ease of maintenance, extended life, and pollution-free air. The batteries are available from a variety of sources.
The vast majority of e-rickshaws are powered by lead-acid batteries. They are heavier in general, have a shorter expected lifespan of 360 cycles, and require a longer charge time of 8-10 hours. Because batteries require a lot of maintenance, their performance and lifetime are impacted if they are not properly maintained.
Lithium-ion batteries are increasingly being used by manufacturers. Because of their high energy density, they have a lower weight of about 35kg, which increases their overall mileage. It takes 1.5 to 3 hours to fully charge them. These batteries are reliable, durable, and efficient for smooth rides, with a lifespan of 1500 cycles (NMC) and 3000 cycles (LeFePo4). These batteries require very little to no maintenance. Lithium-ion batteries are gradually gaining market share due to their superior performance.
What is the current state of the batteries in India's electric rickshaws?
In 2019, the market for e-rickshaw batteries in India was estimated to be $385.0 million, based on sales of 4,290.9 thousand units. Furthermore, the market is expected to grow at a CAGR of 13.2 percent in terms of value during the forecast period (2020-2024), generating $722.3 million in revenue in 2024.
Delhi dominated the Indian e-rickshaw battery market until 2018 when Uttar Pradesh surpassed it. In 2019, electric rickshaws were common in more than 75 of the state's tier 2 and tier 3 cities. The growing use of e-rikshaws for last-mile transportation in major cities such as Lucknow, Varanasi, Kanpur, and Noida boosted battery sales. The increased demand for replacement batteries is also a significant factor promoting market growth in the state.
In 2019, Delhi had the highest demand for e-rickshaw batteries on a city level. Delhi is home to the country's oldest e-rickshaw market. The foundation of the Delhi metro network is the primary driver of the company's growth. Several other Indian cities, including Howrah, Noida, Lucknow, Varanasi, Patna, and Kanpur, have significant e-rickshaw battery market shares.
Why has there been such a surge in demand for lithium batteries for e-rickshaws?
The rising popularity of e-rickshaws for transportation and logistics, as well as the batteries that power these vehicles, is one of the key trends in the Indian e-rickshaw battery market. The nation's demand for these vehicles is increasing as a result of increased activity in the e-commerce, municipal, logistics, and food, and grocery sectors.
In 2015, there were few electric rickshaws used for logistics on Indian roads; however, in just two years, their share of all e-rickshaws on the roads increased to around 3%. Logistics accounts for nearly 70% of Ahmedabad's entirely electric rickshaws.
The rapid adoption of e-rickshaws in numerous cities is the primary driver of the Indian e-rickshaw battery market. Between 2014 and 2019, demand for electric rickshaws, which have lower operating costs than other types of rickshaws, particularly auto-rickshaws, increased, resulting in a significant increase in the market for these vehicles in India.
Furthermore, the government is providing incentives to encourage the use of these cost-effective and environmentally friendly vehicles across the country. For example, the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME-II) scheme, which went into effect in April 2019, provides INR 50,000 incentives for up to five lakh e-rickshaws.
The recent increase in e-rickshaw sales has revealed long-term potential in the replacement battery industry. The popularity of e-rickshaws in the country is growing, creating a profitable market for aftermarket businesses.
The average age of e-rickshaws sold by well-known original equipment manufacturers (OEMs) is also around 3.5 years, and each rickshaw goes through 3-4 battery replacement cycles, presenting opportunities for competitors. Furthermore, it is expected that by 2024, there will be over four million electric rickshaws on the road, which will drive growth in the Indian electric rickshaw market. If you want the best lithium Ion battery for your e-rickshaw, choose the best lithium battery manufacturer in Delhi NCR for e-rickshaw.