India Electric Rickshaw (E-Rickshaw) Market Analysis by Motor Power, Battery Capacity, Battery Type, Sales Channel, End User, Regional Outlook 2023-2028

IMARC Group has recently released a new research study titled "India Electric Rickshaw Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028", An electric rickshaw (E-rickshaw) is a three-wheeled vehicle powered by an electric motor whose traction energy is explicitly supplied by rechargeable batteries. Commonly used as a mode of transportation, it is a sustainable alternative to traditional petrol or diesel-powered rickshaws.

What is the market for E-Rickshaw?

The India e-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.

Electric Rickshaw: Industry Insight

E-rickshaws are made using a lightweight frame, and some primary components include a motor, battery, throttle, harness, controller, and charging system. The electrical energy stored in the battery is converted into mechanical energy to drive the motor. As compared to traditional rickshaws, electric rickshaws are cost-effective, require less maintenance, and reduce emissions, making them a much cleaner and environmentally friendly alternative. Currently, there are two types of product variants available, including battery-operated and pedal-assisted.

Industry Trends and Demand:

Rising environmental awareness has considerably surged the demand for clean and eco-friendly transportation options, such as electric rickshaws, which represent one of the primary factors bolstering the market growth in the country. Additionally, the Government of India (GoI) is actively working to promote the adoption of electric rickshaws and is providing various incentives and subsidies, which, in turn, is accelerating the market growth. Moreover, the escalating demand for last-mile connectivity in urban areas, rapid technological advancements, and surging fuel prices are providing an impetus to the market growth.

Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/india-electric-rickshaw-market/requestsample

Top Indian E-Rickshaw Key Companies Covered in this Report:

• 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

India E-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.

Breakup by Motor Power:

• 1500W

Breakup by Battery Capacity:

• 101 Ah

Breakup by Battery Type:

• Li-ion Battery
• Lead Acid Battery

Breakup by Sales Channel:

• Organised
• Unorganised

Breakup by End User:

• Passenger Carrier
• Load Carrier

Regional Analysis:

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

You can buy this report directly (Exclusive offer on this report): https://www.imarcgroup.com/checkout?id=5978&method=13

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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This release was published on openPR.