Asia-Pacific electric rickshaw market is estimated to grow at a CAGR of more than 23.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. China and India are the major countries to make a considerable contribution to the market growth of electric rickshaws in the Asia-Pacific region. In January 2020, Amazon India has pledged to add 10,000 electric rickshaws to its delivery fleet by 2025.In 2015, the government of India had adopted the faster adoption and manufacturing of hybrid and EV (FAME) scheme with an outlay of $130 million, to provide subsidies for electric rickshaws, electric 2- and 3-wheelers, hybrid and e-cars, and buses. The adoption of such a scheme by the Indian government is anticipated to promote the adoption of electric rickshawsin the region.

The market is segmented on the basis ofcarrier type and battery type. Based on the carrier type, the market is sub-segmented into the passenger carrier and the load carrier. Based on carrier type, the passenger carrier is anticipated to showcase a considerable growth rate during the forecast period. The increasing demand for electric vehicles for passengers to reduce vehicle emission and to offer low-cost mobility is a key factor contributing to the passenger carrier electric rickshaw. Based on the battery type, the market is sub-segmented into lead-acid and Li-Ion batteries. Based on the country, the market is segmented into China, Japan, India, and Rest of Asia-Pacific.

Mahindra & Mahindra, Lohia Auto Industries, Thakural electric bikes, Kinetic Green Energy & Power Solution Ltd., BABA E-Rickshaw, Jezza Motors and so on are some of the key players operating in the Asia-Pacific electric rickshaw market. The market players are considerably contributing to the market growth by adopting various strategies including new product innovations, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.

Research Methodology

The market study of the Asia-Pacific Electric Rickshaw market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research bringsauthenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for auto ancillaries, auto-manufacturers, vendors, and venture capitalists among others for the overall market and competitive analysis. The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Electric Rickshaw Market Research and Analysis by Carrier Type 

2. Asia-Pacific Electric Rickshaw Market Research and Analysis by Battery Type

The Report Covers

• Comprehensive research methodology of the Asia-Pacific Electric Rickshaw market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific Electric Rickshaw market.
• Insights about market determinants which are stimulating the Asia-Pacific Electric Rickshaw market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.