India Electric Rickshaw Market Future Business Prospects, Upcoming Developments, Future Investments by Forecast to 2027

The growing need for cost-effective first and last-mile transportation is anticipated to fuel the India electric rickshaw market over the forecasted period.

SHERIDAN, WY, USA, October 18, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “India Electric Rickshaw Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the India electric rickshaw market statistics. The report also includes competitor and regional analysis, and contemporary advancements in the global market. 

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The India electric rickshaw market size reached US$ 1.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.1 Billion by 2027, exhibiting a growth rate (CAGR) of 11.34% during 2022-2027. An electric rickshaw refers to a battery-operated three-wheeler with a better economy and lower operational as well as maintenance costs. It comprises of a harness, motor, controller, throttle, etc. An electric rickshaw is eco-friendly as it does not have tailpipes and emits toxic pollutants during operation. In line with this, it is non-conducting, lightweight, strong, highly durable, resistant to fire, etc. As compared to its counterparts, including manually pulled rickshaws, an electric rickshaw is more comfortable to drive. Furthermore, it ensures a smooth driving experience on busy and congested roads while producing fewer vibrations and noise.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

E Rickshaw Business in India

The increasing consumer concerns towards environmental pollution, on account of the widespread adoption of diesel-fueled vehicles, are primarily driving the India electric rickshaw market. Additionally, the launch of various favorable policies by government bodies in the country to promote the utilization of electric vehicles (EVs) in public transportation and fleets is also catalyzing the market growth. Besides this, the affordable price of e-rickshaws and their maneuverability across urban roads of India are propelling the product demand. Moreover, the rising investments in R&D activities aimed at developing improved variants with powerful motors are acting as significant growth-inducing factors. Apart from this, the growing need for cost-effective first and last-mile transportation is anticipated to fuel the India electric rickshaw market over the forecasted period.

India Electric Rickshaw Market 2022-2027 Competitive Analysis and Segmentation:

Market Segmentation:

The report has segmented the India e-rickshaw market on the basis of motor power, battery capacity, battery type, sales channel, end user and region.

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 (2016-2021)
• Market Outlook (2022-2027)
• 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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