UnivDatos Market Insights released a report titled “India Electric Rickshaw (E-Rickshaw) Market By 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 (Delhi-NCR, Lucknow, Kolkata, Nagpur, Bengaluru, Pune, Chennai, Hyderabad, and other cities) - Current Analysis and Forecast (2019-2025).” India Electric Rickshaw (E-Rickshaw) Market is expected to grow at a CAGR of 9% from 2019-2025 to reach US$ 5 billion by 2025.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/report/india-electric-rickshaw-e-rickshaw-market/get-a-free-sample-form.php?product_id=5511

Market Opportunities and Drivers

Population and economic growth have facilitated urbanization in the country and a dramatic rise in the number of urban towns and cities. Indian society is at a massive stage of urban transition. India’s urban population is the second highest in the world, with both natural growth and rural-urban migration leading to urban development in India after China. According to the estimates, India's urban population is projected to rise to 814 million by 2050, from 410 million in 2014. By 2030 India is expected to add 4 new megacities. This population needs an efficient mode of transportation to commute. With so many passenger vehicles on the road, people today witness a new entry into Indian road and transport network is E-Rickshaws. Such vehicles give commuters a convenient, non-polluting, and affordable ride. E-rickshaw plays an important role in solving the last miles of connectivity problems.

The government vision on making India a nation primarily running on electric transportation by 2030. Battery operated three-wheeler (e-rickshaw) show significant potential to the transportation system as one can find it at every nook and corner of the city across the country. Also, the growth of the e-rickshaw market is set to boost as the government has slashed the GST to 5% from 12% earlier on the purchase of electric vehicles. In addition to these, the government has also supported several electric vehicles required infrastructure nationwide and the FAME scheme to increase the adoption of such vehicles.

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Covid-19 Impact on India E-Rickshaw Market

COVID-19 has changed the global economy greatly, forcing businesses in all sectors to adjust rapidly to changing consumer demands and shelter-in-place orders. Among many sectors, Covid-19 has also impacted the transportation sector majorly. The pandemic has impacted economically from rickshaw pullers to airlines due to imposed lockdown. However, the E-rickshaw demand may or may not be hit post lockdown as many such vehicles start plying on the road but the constraint of the e-rickshaw driver availability may affect the demand soon as most of the e-rickshaw driver is migrant labor.

India E-Rickshaw Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Vehicle Type, the market is primarily bifurcated into

·         Passenger Carrier

·         Load Carrier

Passenger carriers dominated the vehicle segment of the India E-rickshaw market and will grow at 8.97% CAGR during the analyzed period.

By Battery Type, the market is primarily segmented into

·         Sealed Lead Acid (SLA)

·         Li-ion

Amongst battery type, sealed lead-acid battery accounted for the largest share and is expected to grow at 8.08% CAGR during the forecast period 2019-2025. SLA battery is easily available across the country and is cost-effective in comparison to its counterparts, which is expected to drive the market growth.

By Ownership Type, the market is primarily fragmented into

·         Owned E-Rickshaw

·         Rented E-Rickshaw

In 2019, Owned E-Rickshaw dominated the India E-rickshaw market with nearly 60% of the market share and is anticipated by 2025, the segment will garner US$ 2.89 billion of the market.

For a detailed analysis of the segments in the India Electric Rickshaw (E-Rickshaw) Market browse through

https://univdatos.com/report/india-electric-rickshaw-market-insights-and-forecast-2018-2025

India E-Rickshaw Market Geographical Segmentation Includes:

·         Delhi-NCR

·         Lucknow

·         Kolkata

·         Nagpur

·         Bengaluru

·         Pune

·         Chennai

·         Hyderabad

·         Others

Based on the estimation, Delhi-NCR dominated the India E-Rickshaw market with nearly 30% of the market revenue in 2019. At the same time, Hyderabad is expected to grow at the highest CAGR over the forecast period as the city has recently introduced metro train facilities and is witnessing significant mega projects under its smart city plans.

The major players targeting the market includes

·         Terra Motors Corporation

·         Hero Electric Vehicles Pvt. Ltd.

·         Atul Auto Ltd.

·         Electrotherma (India) Ltd.

·         Mahindra & Mahindra

·         OK Play India Limited

·         Kinetic Engineering Limited

·         Lohia Auto Industries

·         Saera Electric Auto Pvt. Ltd

·         GreenRick

The competitive landscape has been provided pointing out the position of the key market players in the market along with the market share that is held by each player. These players are constantly working on expanding the market reach through M&A’s along with partnerships.

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