India Electric Rickshaw Market Size (US$ 2.3 Billion) 2023-2028, CAGR (10.7%), Companies Analysis, Sales Channel and Research Report by IMARC Group

According to IMARC Group's latest report, titled "India Electric Rickshaw Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", 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.

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Market Outlook:

The Government of India (GoI) is actively working toward promoting electric vehicles (EVs) in public transportation and fleets, which, in turn, is creating a positive outlook for the market.

Electric rickshaws (e-rickshaws) are small, three-wheeled vehicles powered by a battery and an electric motor. They are non-conducting, lightweight, strong, highly durable, and resistant to fire and are an ideal alternative to petrol, diesel, and compressed natural gas (CNG) auto-rickshaws. Compared to traditional rickshaws, e-rickshaws reduces emissions, have lower fuel costs, and require minimal human effort.

In India, e-rickshaws are witnessing huge demand as they do not emit toxic pollutants into the air during operation and ensure a smooth driving experience on congested roads while producing fewer vibrations and noise.

Market Trends:

The e-rickshaw market in India is primarily driven by rising environmental awareness and increasing fuel prices. Key market players are investing heavily in research and development (R&D) activities to introduce e-rickshaws with powerful motors to increase their product portfolio, which is boosting the market growth.

Moreover, the surging urban population has increased the demand for cost-effective transportation, which is providing an impetus to the market growth..

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Competitive Analysis and Segmentation:

India Electric Rickshaw Market 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.

Based on Motor Power:

• 1500W

Based on Battery Capacity:

• 101 Ah

Based on Battery Type:

• Li-ion Battery
• Lead Acid Battery

Based on Sales Channel:

• Organised
• Unorganised

Based on End User:

• Passenger Carrier
• Load Carrier

Regional Analysis:

• North India
• West and Central India
• South India
• East India

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• 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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