IMARC Group, a leading market research company, has recently releases report titled “India Electric Rickshaw Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the India electric rickshaw market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is the future of e-rickshaw in India?
The India electric rickshaw market size reached US$ 1.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.3 Billion by 2028, exhibiting a growth rate (CAGR) of 10.7% during 2023-2028.
Industry Insight:
Electric rickshaw refers to battery-operated three-wheelers vehicles. They comprise of a motor, harness, controller, battery, and throttle. Electric rickshaw variants have lower operational and maintenance costs and are strong, lightweight, non-conducting, and highly durable. They are extremely eco-friendly as they do not emit toxic gasses and pollutants into the air during operation. Electric rickshaw models are cheaper and more comfortable to drive as compared to manually pulled rickshaws. Consequently, they are in extensively utilized in India.
What are the recent trends in the e-rickshaw industry?
The rising fuel prices and the escalating need for cost-effective first and last-mile transportation, on account of the expanding urban population, are primarily driving the India electric rickshaw market. In addition to this, the elevating concerns about environmental pollution and the launch of various favorable policies by government bodies aimed at promoting electric vehicles (EVs) in public transportation are acting as significant growth-inducing factors.
In line with this, the introduction of several government incentives for the manufacturers of electric vehicles (EVs), such as Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II), is also positively influencing the market across the country. Moreover, the growing ban on fuel-powered vehicles and the emerging trend of shared mobility that help reduce traffic congestion and transportation costs are further stimulating the market growth
Besides this, the inflating investments by leading market players in research and development (R&D) activities to introduce advanced e-rickshaws with powerful motors and the increasing usage of fiber-reinforced plastic (FRP) technology that enhance resistance and strength to deformation are expected to propel the India electric rickshaw market over the forecasted period.
Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/india-electric-rickshaw-market/requestsample
Who are the key players operating in the India electric rickshaw industry?
The report covers the major market players including:
- Adapt Motors Private Limited
- ATUL Auto Limited
- CityLife EV
- E-Ashwa Automotive Private Limited
- Goenka Electric Motor Vehicles Private Limited
- Jezza Motors (Vani Electric Vehicles Pvt. Ltd)
- Kinetic Green Energy & Power Solutions Ltd
- Lohia Auto Industries
- Mini Metro EV LLP
- Saera Electric Auto Private Limited
- Terra Motors India Corp.
- Thukral Electric Bikes
- Udaan E Rickshaw
Explore Full Report Description At: https://www.imarcgroup.com/india-electric-rickshaw-market
Competitive Analysis and Segmentation:
Report Segmentation:
The report has segmented the India e-rickshaw market on the basis of motor power, battery capacity, battery type, sales channel, end user and region.
Breakup by Motor Power:
- <1000 W
- 1000 – 15000 W
- >1500W
Battery Capacity:
- <101 Ah
- >101 Ah
Battery Type:
- Li-ion Battery
- Lead Acid Battery
Sales Channel:
- Organised
- Unorganised
End User:
- Passenger Carrier
- Load Carrier
Regional Analysis:
- North India
- West and Central India
- South India
- East India
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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