E-Rickshaw Market in India 2022: Industry Outlook, Size ( US$ 2.1 Billion), Share, Growth (CAGR of 11.34%), Top Companies Analysis, Report 2022-2027
Year considered to estimate the market size:
• Base year of the analysis: 2021
• Historical period: 2016-2021
• Forecast period: 2022-2027
The India electric rickshaw market size reached US$ 1.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.1 Billion by 2027, exhibiting a growth rate (CAGR) of 11.34% during 2022-2027.
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E-Rickshaw Market Trends in India:
The rising awareness among the masses toward the benefits of using battery-operated three-wheelers is primarily driving the India electric rickshaw market. Besides this, the affordable price of these motors, their maneuverability across urban roads, and the launch of several policies by the government bodies to provide incentives to the manufacturers of electric vehicles (EVs) are further augmenting the market growth.
Moreover, the escalating demand for e-rickshaws, owing to the ban on fuel-powered autos, the increasing need for cost-effective first and last-mile transportation across the country, and the inflating petrol prices are also catalyzing the market across India. Apart from this, the elevating concerns toward environmental pollution, on account of the utilization of diesel-fueled vehicles, are acting as significant growth-inducing factors. Furthermore, the leading players are extensively investing in research and development (R&D) activities to introduce improved conveyances with powerful motors, which is anticipated to propel the India electric rickshaw market over the forecasted period.
India E-Rickshaw Market Insight:
Electric rickshaws refer to battery-operated three-wheelers with an adequate economy and lower maintenance and operational costs. They comprise a controller, harness, motor, batteries, and throttle. Electric rickshaws are non-conducting, strong, lightweight, highly durable, and resistant to fire. They are eco-friendly as these vehicles do not have tailpipes and emit non-toxic pollutants into the air during operation. Electric rickshaws are more comfortable to drive and more affordable compared to manually pulled rickshaws. In addition, these vehicles ensure a smooth driving experience on congested and busy roads while producing fewer vibrations and noise. As a result, electric rickshaws find widespread applications as passenger and load carriers.
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Competitive Analysis and Segmentation:
India Electric Rickshaw Industry Segmentation 2022-2027
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.
Market by Motor Power:
Market by Battery Capacity:
• 101 Ah
Market by Battery Type:
• Li-ion Battery
• Lead Acid Battery
Market by Sales Channel:
Market by End User:
• Passenger Carrier
• Load Carrier
• North India
• West and Central India
• South India
• East India
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
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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2022-20227 Passenger Cars Market Report: https://www.benzinga.com/pressreleases/22/11/ab29715897/passenger-cars-market-share-size-growth-drivers-global-trends-market-demand-industry-analysis-opp
2022-20227 Air Compressor Market: https://www.digitaljournal.com/pr/air-compressor-market-research-report-size-drivers-top-players-latest-trends-demand-analysis-and-revenue-forecast-2022-2027
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