India Electric Rickshaw Market Demands, Growth Analysis, Report 2024-2032

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 study provides a detailed analysis of the industry, including the India electric rickshaw market size, share, 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 Electric Rickshaw Market?

The India electric rickshaw market size 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 Key Statistics:

Historical Years: 2018-2023

Forecast Years: 2024-20232

Growth Rate (CAGR) 2024-2032: 9.63%

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.

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.

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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

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

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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