India Electric Rickshaw Market Size, Share, Trends, Demand, Growth, Manufactures and Forecast 2023-2028

IMARC Group has recently released a new research study titled "India Electric Rickshaw (E-Rickshaw) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form. 

India Electric Rickshaw Market Value 2023-2028:

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.

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E-Rickshaw Industry Overview:

Electric rickshaws refer to battery-operated and three-wheeled vehicles that are generally utilized for public transportation and loading as well as unloading goods across India. They offer an eco-friendly and noise-free travel experience with zero carbon emissions, fewer vibrations, and lower operational and maintenance costs. Electric rickshaws are compact in design, consisting of a single wheel at the front and two at the back, and are usually equipped with high-torque controllers, harnesses, motors, batteries, and throttles. These vehicles are lightweight, highly durable, non-conductive, fire-resistant, etc. Most models run on rechargeable lead-acid batteries that power the motors, though some models also support plug-in charging. They are more comfortable to drive and cheaper as compared to manually pulled rickshaws.

What are the growth prospects and trends in the industry?

The escalating demand for cost-effective first and last-mile transportation, owing to the inflating levels of urbanization, is primarily driving the India electric rickshaw market. Additionally, the growing consumer concerns towards the increasing environmental pollution levels, owing to the widespread adoption of diesel-fueled vehicles, are further bolstering the market growth. Besides this, the launch of favorable policies by government bodies to promote electric vehicles (EVs) in public transportation and fleets is acting as another significant growth-inducing factor.

Moreover, the affordable price of e-rickshaws and their maneuverability across urban roads is augmenting the market growth across the country. Apart from this, extensive investments in R&D activities to introduce improved e-rickshaws with powerful motors are also stimulating the market growth. Furthermore, they are equipped with anti-theft locking systems, GPS integration, remote sensors, etc., which is anticipated to fuel the India electric rickshaw market over the forecasted period.

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Who are the key players operating in the India e-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

What is included in market segmentation?

The report has segmented the market into the following categories:

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

Breakup by Region:

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

Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=5978&flag=C

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.