IMARC Group, a leading market research company, has recently releases report titled “India Electric Rickshaw Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the India electric rickshaw market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the India e-rickshaw market?
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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Electric Rickshaw (E-Rickshaw): Industry Outlook
An electric rickshaw, also known as an e-rickshaw, is a three-wheeled vehicle that operates on electric power instead of conventional fuel. It comprises a small, lightweight frame and is powered by an electric motor that is usually mounted in the rear axle, and it draws energy from a rechargeable battery pack. It consists of a seating area for passengers or goods at the rear, a seat for the driver at the front, and a canopy or roof for protection against weather conditions. It is a popular mode of transportation in many urban areas, due to its affordability, low operating costs, and environmentally friendly nature.
Furthermore, as it produces zero tailpipe emissions, which helps reduce air pollution and contributes to a cleaner and healthier environment, the demand for electric rickshaws is rising in India.
What are the emerging trends in the e-rickshaw market in India:
At present, the increasing demand for electric rickshaws, as they have a significantly lower carbon footprint and help to mitigate urban pollution, represents one of the crucial factors impelling the e-rickshaw market growth in India. Besides this, the Government of India is undertaking initiatives by implementing various policies and initiatives to promote electric mobility and reduce air pollution.
In addition, the growing employment of e-rickshaws due to the rising concerns for environmental sustainability is offering a favorable market outlook. Apart from this, the increasing popularity of e-rickshaws, as they require minimum maintenance and low operating costs, is supporting the growth of the market in India. Additionally, the rising number of individuals belonging to the economically weaker sections of society earning livelihoods by driving e-rickshaws is bolstering the growth of the market in the country.
Who are the key players operating in the India electric rickshaw industry?
Electric Rickshaw Companies in India:
- 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:
- 1000 W
- 1000 – 15000 W
- 1500W
Breakup by Battery Capacity:
- 101 Ah
- 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
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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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