India Electric Rickshaw Market Business Data 2014–2024- Research Report, 2019

The Indian electric rickshaw market is projected to reach 935.5 thousand units by 2023.

The market growth is majorly driven by government incentives and environmental policies, and declining battery prices. In order to address the issue of degrading air quality, the Indian government launched the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme in 2015, in addition to implementing environmental regulations on conventional gasoline-based vehicles.

Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/india-electric-rickshaw-market/report-sample

Market Segmentation

By Vehicle
Passenger carrier
Load carrier

By Motor Power
1,500 W

By Battery Capacity
101 Ah

Passenger carriers held a larger share in the Indian electric rickshaw market in 2017, accounting for more than 95% revenue. They are expected to continue holding a larger market share in the coming years as well, on account of the large passenger base in the country, coupled with the growing demand for low-cost shared mobility.

Explore Full Report Description At@ https://www.psmarketresearch.com/market-analysis/india-electric-rickshaw-market

Delhi held the largest share in the Indian electric rickshaws market in 2018. Delhi is a major market for these rickshaws, where the sales have picked up since 2013.

In response to the increasing levels of air pollution in the capital, the Delhi government, in 2016, announced a subsidy of $446 (INR 30,000) on the purchase of these rickshaws, which led to the proliferation in their demand in the city, further benefitting the market. However, during the forecast period, the market is expected to witness the fastest growth in East India.

Majority of electric rickshaws in India run on the SLA battery. This is because the initial cost of SLA batteries is much lower than that of Li-ion batteries. However, key electric rickshaw manufacturers are now focusing on using Li-ion batteries as the power source, because SLA batteries, if not properly disposed, can pose a serious threat to human health and to the environment at large. Therefore, OEMs are increasingly focusing on the use of Li-ion batteries, as an alternate to SLA batteries, which is resulting in the increased demand for Li-ion battery-based rickshaws in the Indian electric rickshaw market. This, in turn, is creating ample opportunities for the growth of the market players.

Make Enquiry Before Buying the Report@ https://www.psmarketresearch.com/send-enquiry?enquiry-url=india-electric-rickshaw-battery-market

The Indian electric rickshaw market is primarily dominated by a large number of small, unorganized local players, which accounted for around 85% of the sales in 2017. Some of the major players in the market are Lohia Auto Industries, Kinetic Green Energy and Power Solutions Ltd., Hero Electric Vehicles Pvt. Ltd., Terra Motors Corporation, Clean Motion India, and Saera Electric Auto Pvt. Ltd.

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.

Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.