The electric rickshaw is an electric
powered, primarily three-wheeled vehicle used for the commercial determinations
in order to transport passengers and goods. The Electric rickshaw is also
well-known as electric tuk-tuk and toto. It uses a battery, electric powertrain
and motor in order to fuel the vehicle. Whereas, the Rickshaws are the foremost
mode of commercial passenger transportation, specifically across the
underdeveloped region such as India and several other regions. Cheapest cost of
the transport, low prices of the rickshaws, and their maneuverability around
the crowded urban roads are some benefits of rickshaws, which are fueling their
requirement around the world. Additionally, rigorous emission regulations,
increasing fuel prices, incentives over the e-rickshaws, and augmented variety
of electric rickshaw are transforming customer predilection towards the
electric rickshaw. Not only has this, the estimated ban over the fuel powered
the vehicles is likely to fuel the requirement for the Electric rickshaw.
According to the report analysis, ‘India
Electric Rickshaw (E-Rickshaw) Market: Insights and Forecast 2018-2025:
Emphasis on Vehicle Type (Passenger Carrier E-Rickshaw, Load Carrier E-Rickshaw),
Battery Type (Sealed Lead Acid Battery E-Rickshaw, Li-Ion Battery E-Rickshaw),
Ownership Type (Owned E-Rickshaw, Rented E-Rickshaw) and Region’ states
that in the India electric rickshaw market, there are numerous companies which
recently performing more significantly for leading the fastest market growth
and registering the high value of market share throughout the analyzed duration
while effective augmenting the government support, decreasing the prices of
battery, increase in the optimum charging infrastructure and increase in the
requirement of public transportation includes Terra Motors Corporation, Hero
Electric Vehicles Private Ltd, Atul Auto Ltd., Electrotherm (India) Limited, OK
Play India Limited, Mahindra & Mahindra Limited, Kinetic Engineering
Limited, Lohia Auto Industries, Saera Electric Auto Pvt. Ltd., GreenRick and
several others.
Sideways, in terms of revenue, the
e-rickshaw market has significantly accounted a remarkable growth with positive
CAGR during analyze period. Over the last couple of years, e-rickshaw market
has observed an overall increase in the terms of market penetration as one of
the most inexpensive mode of public transportation for a short distance. The
enormous rise in the people preference, being eco-friendly and cost-effective,
and the growing support from the government have significantly foster the
growth prospects of the market. In addition, the shortage of proper
infrastructure and safety hazards have also noticeably catalyzed the growth
potential of the respective market.
Based on the economy, the Delhi-NCR
controlled the major share due to its immense popularity as it offers first and
last mile connectivity to and fro the metro stations. However, the Hyderabad is
estimated to observe the highest growth during the analyzed duration. Moreover,
on the basis of vehicle type, the E-rickshaw market fetched the thoroughgoing
revenues from passenger carrier, as it is being favorite by abundant people as
mode of short distance transportation. On the other hand, the load carrier is
predicted to display devastating growth in the years to come. Therefore, in the
near years, it is anticipated that the India Electric Rickshaw (E-Rickshaw)
market will increase more positively over the coming years.
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Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249
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