India E-Rickshaw Market – Industry Trends and Forecast to 2028
MarkNtel Advisors, a prominent market research firm, has recently published a report titled India E-Rickshaw Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028. This study offers an in-depth examination of the industry, encompassing India E-Rickshaw market share, size, trends, and growth predictions. Additionally, the report features an analysis of competitors and regions while spotlighting the most recent developments in the market.
India E-Rickshaw Reports Highlights
What is the size of the India E-Rickshaw Market?
India E-Rickshaw Market is projected to grow at a CAGR of around 15% during the forecast period, i.e., 2023-28. The growth of the market was minimized due to the sudden dip in demand for public transportation owing to lockdowns & curfews during the pandemic. However, the automotive industry spotted a massive surge in demand for electric rickshaws in post-pandemic, aided by government policies, incentives, environmental concerns, and the availability of cost-friendly models suitable for commuting.
What do the growth prospects and trends look like in the India E-Rickshaw Industry?
The beginning cost of an electric-rickshaw is INR0.6-1.1 lakhs, whereas the cost of ICE-based autorickshaw is INR1.5-3 lakhs, which is considered the major socio-economic benefit. Besides, the running and maintenance cost for such electric three-vehicle is lower per kilometer compared to ICE-based counterparts, thereby providing more employment opportunities to cycle-rickshaw drivers.
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What Components are encompassed within India E-Rickshaw Market segmentation?
The report has divided the market into the following segments:
By Battery Capacity
-Less than 100 Ah
-Greater than 100 Ah
By Transmission Mode
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Who are the Primary Companies or Entities active in the Industry?
The report covers the major market players including:
-Terra Motors Corporation
-Hero Electric Vehicles Pvt. Ltd.
-Kinetic Green Energy & Power Solutions Ltd.
-Lohia Auto Industries
-ATUL Auto Ltd.
-Mahindra Electric Mobility
-Saera Electric Auto Pvt. Ltd.
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