Market Snapshot:
Electric Rickshaw is also called E-tricycle is an alternative to auto rickshaws. It is available in petrol/diesel/CNG auto-rickshaws. It helps to reduce emission, require low fuel cost, and less human effort compared to pulled rickshaws. Geographically, Asia Pacific is the leading region for a higher manufacturer for Electric Rickshaw followed by Bangladesh, India, and China for instance. China is the largest manufacturer of electric rickshaws in the world, due to low labor costs, high production rates, and encouraging government policies on foreign trade than import a large number on daily basis However the Its Indian market growth is projected over USD 1 billion by FY2023. The demand for the market is triggering due to increasing awareness for a clean environment as well as the government initiatives to fulfill the efficient energy commitments in the upcoming year.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Market Drivers
- E-rickshaw drivers manage to earn more as compared to conventional rickshaws
Market Trend
- Local pollution is nil as there is no direct emission by vehicles.
Restraints
- E-rickshaw may consist of Lead-acid batteries may lead to emissions after completion of their life cycle, if they are not recycled properly
Opportunities
Rising demand for E-rickshaw from customers is also creating job opportunities
Electric Rickshaw Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Transportation and Passenger |
Type | Sarthi Star,, Sarthi Plus, , Sarthi DLX, and Sarthi Shaktiman |
Vehicle Capacity | 6 Seater,4 Seater,Others |
Material | Mild Steel,Iron |
Type | E-auto,E-rickshaw,Goods carriage,Others |
Battery Type | Lithium Battery,Lead Acid |
Vendors Covered in the Study are:
Mahindra (India), Jezza Motors (India), Bajaj (India), Piaggio (India), Kinetic (India), e-Shaft (India), SAARTHI E-RICKSHAW (India), EXIDE INDUSTRIES LTD (India) and Skyride E Rickshaw (India)
The Global Electric Rickshaw market is gaining huge competition due to involvement of india companies that constantly invest in research & development to meet market expectation with new innovation.
Industry Insights:
On October 2021 Greaves Electric fully has acquires leading e-rickshaw brand Bestway Agencies.
On December 2021 Mahindra Treo Electric Three-Wheeler has launched in Maharashtra.
Key Target Audience
OEM (Original Equipment Manufacturer), Raw Material Supplier, Distributor, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End-use Industry
What can be explored with Electric Rickshaw study:
Where Electric Rickshaw industry stands in scaling its end use implementations
What concrete benefits would result from scaled initiatives by Vendors
Where Vendors should focus their investments cycle
Key success factors and recommendations for upscaling future growth.
Target Market / Country and Key Business Segments
Available Customization:
List of players that can be included in the study on immediate basis are Lohia Auto (India) and CityLife EV(India).