India E-Rickshaw Market Size To Hit US$ 2.3 Billion By 2027

IMARC Group has recently released a new research study 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. 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.

Year considered to estimate the market size:

• Base year of the analysis: 2022
• Historical period: 2017-2022
• Forecast period: 2023-2028

Electric rickshaw refers to battery-operated three-wheelers vehicles. They comprise of a motor, harness, controller, battery, and throttle. Electric rickshaw variants have lower operational and maintenance costs and are strong, lightweight, non-conducting, and highly durable. They are extremely eco-friendly as they do not emit toxic gasses and pollutants into the air during operation. Electric rickshaw models are cheaper and more comfortable to drive as compared to manually pulled rickshaws. Consequently, they are in extensively utilized in India.

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India E-Rickshaw Industry Growth Drivers: 

The rising fuel prices and the escalating need for cost-effective first and last-mile transportation, on account of the expanding urban population, are primarily driving the India electric rickshaw market. In addition to this, the elevating concerns about environmental pollution and the launch of various favorable policies by government bodies aimed at promoting electric vehicles (EVs) in public transportation are acting as significant growth-inducing factors.

In line with this, the introduction of several government incentives for the manufacturers of electric vehicles (EVs), such as Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II), is also positively influencing the market across the country. Moreover, the growing ban on fuel-powered vehicles and the emerging trend of shared mobility that help reduce traffic congestion and transportation costs are further stimulating the market growth.

Indian E-Rickshaw Manufacturers/Companies Covered: 

• 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

Key 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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TOC for the India Electric Rickshaw Market Research Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• 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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