IMARC Group, a leading market research company, has recently releases report titled “India Electric Rickshaw Market Report by Motor Power (<1000 W, 1000 – 15000 W, >1500 W), Battery Capacity (<101 Ah, >101 Ah), Battery Type (Li-ion Battery, Lead Acid Battery), Sales Channel (Organised, Unorganised), End User (Passenger Carrier, Load Carrier), and Region 2024-2032”. The India electric rickshaw market growth reached US$ 1.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.1 Billion by 2032, exhibiting a growth rate (CAGR) of 9.63% during 2024-2032.
India Electric Rickshaw Market Trends and Drivers:
The rising need for cost-effective and eco-friendly alternatives for transportation is one of the factors responsible for the growth of the India electric rickshaw market. Additionally, the demand for electric rickshaws is escalating owing to their low operating costs and minimal environmental impact, creating a popular option for traditional rickshaws, which is fueling the market. Besides this, the initiative by government bodies for the electrification of public transport and promoting the use of electric vehicles (EVs) is further bolstering the market. Moreover, incentives such as subsidies and tax exemptions, coupled with the establishment of charging infrastructure, are encouraging the adoption of electric rickshaws. In line with this, the rising awareness of air pollution and its health impacts is driving consumers and fleet operators to switch to electric rickshaws, contributing to the expansion of the market.
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Emerging trends in the India electric rickshaw market include the integration of smart technologies such as lithium-ion batteries, which offer longer life spans and faster charging compared to traditional lead-acid batteries. In addition to this, there is also a growing emphasis on improving the design and comfort of electric rickshaws to enhance the passenger experience, thereby escalating the market. Furthermore, manufacturers are focusing on developing lightweight and durable models with better load capacity and range, which is positively impacting the market. Apart from this, the market is witnessing a surge in partnerships between electric rickshaw manufacturers and financial institutions, making it easier for drivers and small business owners to invest in electric rickshaws, which is expected to bolster the India electric rickshaw market in the coming years.
Leading Companies Operating in the India Electric Rickshaw Industry:
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 Electric Rickshaw Market Report Segmentation:
The report is organized into distinct sections as follows:
Breakup by Motor Power:
<1000 W
1000 – 15000 W
>1500 W
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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Other Key Points Covered in the Report:
COVID-19 Impact
Porters Five Forces Analysis
Value Chain Analysis
Strategic Recommendations
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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