India Electric Rickshaw Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 9.63% (2024-2032)
Market Size in 2023: USD 1.3 Billion
Market Size in 2032: USD 3.1 Billion
The India electric rickshaw market is growing rapidly, driven by eco-friendly transportation demand, government incentives, and urban mobility solutions. According to the latest report by IMARC Group, the market size reached USD 1.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 3.1 Billion by 2032, exhibiting a growth rate (CAGR) of 9.63% during 2024-2032.
India Electric Rickshaw Market Trends and Drivers:
The India electric rickshaw market is expanding rapidly, owing to the increasing environmental concerns as well as the demand for sustainable transportation solutions. Besides this, the industry is growing because of rising gasoline prices and government programs encouraging electric vehicles (EVs) to reduce air pollution. Meanwhile, the affordability of electric rickshaws compared to conventional auto-rickshaws makes them an attractive option for drivers and passengers alike, especially in urban and semi-urban areas.
Additionally, the emergence of organized players offering innovative designs and value-added features is also reshaping the landscape of the India electric rickshaw market. In line with these factors, advancements in battery technology are enhancing the range as well as the efficiency of electric rickshaws, which is expected to boost their adoption further.
A significant trend in the India electric rickshaw market is the growing investment in charging infrastructure to support EV adoption. Furthermore, the development of swappable battery technology addresses range anxiety, providing convenience to users. In addition to these factors, the integration of smart features, such as GPS tracking and IoT-enabled systems, is improving fleet management and operational efficiency.
Moreover, the government’s “Make in India” initiative and subsidies for EV manufacturing are encouraging domestic production and reducing dependency on imports. With the expansion of e-commerce and the rising need for last-mile connectivity, electric rickshaws are emerging as a preferred mode for cargo and passenger transportation. These factors collectively are expected to drive the growth of the India electric rickshaw market in the forecasted period.
Request for a sample copy of this report: https://www.imarcgroup.com/india-electric-rickshaw-market/requestsample
India Electric Rickshaw Market Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Motor Power:
- <1000 W
- 1000 – 15000 W
- >1500 W
Breakup by Battery Capacity:
- <101 Ah
- >101 Ah
Breakup by Battery Type:
- Li-ion Battery
- Lead Acid Battery
Breakup by Sales Channel:
- Organised
- Unorganised
Breakup by End User:
- Passenger Carrier
- Load Carrier
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=5978&flag=C
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
Market Outlook 