China electric rickshaw market is estimated to grow at a considerable CAGR 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. The rising demand for electric rickshaws in metropolitan cities, government support, and the presence of major market players in the country are further contributing to the growth of the China electric rickshaw market. China is one of the members of the EV30@30 Campaign that aims to accelerate the deployment of EVs. Further, China is actively participating in EV pilot project programs.  In 2018, the country had set a target that electric rickshaw to account for at least 15% of its vehicle sales by 2025.

The market is segmented based on carrier 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. The decline in cost of li-ion battery and inherent benefits offered by these batteries including smaller size, lighter weight, and higher energy density is anticipated to drive the market share of these batteries. 

Bajaj Auto Ltd., Changzhou Yufeng Vehicle Co. Ltd., DezhouYijie Import And Export Co., Ltd., GongyiHongsheng Machinery Equipment Co., Ltd., and so on are the major market players operating in the China 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 China 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 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. China Electric Rickshaw market Research and Analysis byCarrierType 

2. China Electric Rickshaw market Research and Analysis by Battery Type

The Report Covers

• Comprehensive research methodology of China 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 impactingChina Electric Rickshaw market.
• Insights about market determinants which are stimulatingthe China Electric Rickshaw market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.