The Asia-Pacific electric rickshaw market is projected to grow at a significant CAGR of more than 23.0% during the forecast period (2019-2025). The factors that contribute to the growth of the market include increase in urban population coupled with the rising need to address future energy requirements. India is one of the major countries contributing to the e-rickshaw market in the region. According to the India Energy Storage Alliance (IESA), by 2027 Indian electric vehicle market is expected to hit over 6.3 million units per annum. Moreover, in October 2020, the Delhi Government has also approved over 100 models of vehicles for subsidy under the new electric vehicles policy out of which 45 models of the electric rickshaw and 12 models of four-wheelers.
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Moreover, according to the Society of Manufacturers of Electric Vehicles, the electric auto-rickshaw segment grew 21.0% in FY2018-19 with a sale of 630,000 units. A major factor for the growth of the market in India is no particular requirement of the charging infrastructure. As the electric rickshaw has the capability that it can run for a day after charging at the home. Some of the major players acting in the market include Saera Electric Auto Pvt. Ltd., Vani Electric Vehicles Pvt. Ltd. (Jezza Motors), Gayam Motor Works (GMW), Mahindra Electric Mobility Limited, Hero Electric Vehicles Pvt. and others.
Market Coverage
- Market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- By Carrier Type, By Battery Type
- Region Covered- Asia-Pacific
- Competitive Landscape- Mahindra & Mahindra, Lohia Auto Industries, Thakural electric bikes, Kinetic Green Energy & Power Solution Ltd., BABA E-Rickshaw, and Jezza Motors.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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A full Report of Asia-Pacific Electric Rickshaw Market is Available at: https://www.omrglobal.com/industry-reports/asia-pacific-electric-rickshaw-market
Asia-Pacific Electric Rickshaw Market Report Segment
By Carrier Type
- Passenger Carrier
- Load Carrier
By Battery Type
- Li-Ion
- Lead Acid
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
