India E-Rickshaw Market’s Resilient Growth at 15% CAGR Forecasted till 2030

Market Overview: India E-Rickshaw Market

MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on India E-Rickshaw Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

India E-Rickshaw Market Insights 2024-30

The India E-Rickshaw Market is estimated to grow at a CAGR of around 15% during the forecast period 2024-30.

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Driving Innovation: Exploring the India E-Rickshaw Market and its Key Drivers

India E-Rickshaw Market Driver: Reasonable Prices Paired with the Constant Endorsement of Electric Vehicles by the Government

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.

Further, the numerous state electric vehicle regulatory frameworks and policies like National Urban Livelihood Mission 2013, Pradhan Mantri Mudra Yojna, Smart City Mission 2015, and Faster Adaptation of Manufacturing of Electric Vehicles (FAME I and II) provide continual measures in the forms of loans and direct subsidies and environmental policies. These initiatives are directly influencing the growth of the industry by pushing the adoption of such vehicles further in the coming years.

Top Players in the India E-Rickshaw Market:

Terra Motors Corporation, Hero Electric Vehicles Pvt. Ltd., Kinetic Green Energy & Power Solutions Ltd., Lohia Auto Industries, ATUL Auto Ltd., Mahindra Electric Mobility, Gayam Motors, Vani Electric, Saera Electric Auto Pvt. Ltd.

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Segmentation Analysis of India E-Rickshaw Market

India E-Rickshaw Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

By Type

-Passenger Carrier

-Load Carrier

The passenger carrier segment is predicted to generate higher revenue during the anticipated time frame.

By Battery

-Lead-Acid

-Lithium-Ion

By Battery Capacity

-Less than 100 Ah

-Greater than 100 Ah

By Transmission Mode

-Geared

-Gearless

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A Comprehensive Geographical Analysis:

By Region

-North

-South

-West

-East

The North India Region is expected to project a higher market share by 2030

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About Us

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.