India electric rickshaw market is estimated to grow at a considerable CAGR during the forecast period. The increasing government initiatives and subsidies along with the increasing urbanization is the key factor to propel the growth of the electric rickshaws market in India. 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-wheeler, hybrid and e-cars, and buses. In 2019, the project got scaled up FAME II, with an outlay of  $1.4 billion to be used for upfront incentives on the purchase of EVs worth $1.2 billion and for supporting the deployment of charging infrastructure worth $0.2 billion. The adoption of such schemes by the Indian government is anticipated to promote the adoption of electric rickshaws in the country.

The market is segmented on the basis of carrier type and battery type. Based on the carrier type, the market is sub-segmented into electric passenger carrier rickshaw and electric load carrier rickshaw. Based on the battery type, the market is sub-segmented into lead-acid and Li-ion batteries. 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. 

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 Indian electric rickshaw market. The Indian Electric rickshaw market is composed of more of the local manufacturers that are investing heavily in the expansion of their production facilities.For instance, in February 2018, Hero Electric announced to invest $109 million for its electric vehicle capacity expansion in the coming three to four years.

Research Methodology

The market study of the India 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 brings authenticity 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. India Electric Rickshaw market Research and Analysis by Carrier Type 

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

The Report Covers

• Comprehensive research methodology of India Electric Two-Wheeler 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 India Electric Two-Wheeler market.
• Insights about market determinants which are stimulating India Electric Two-Wheeler market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.