Electric Rickshaw Market Scope
Electric Rickshaw is also called E-tricycle is an alternative to auto rickshaws. It is available in petrol/diesel/CNG auto-rickshaws. It helps to reduce emission, require low fuel cost, and less human effort compared to pulled rickshaws. Geographically, Asia Pacific is the leading region for a higher manufacturer for Electric Rickshaw followed by Bangladesh, India, and China for instance. China is the largest manufacturer of electric rickshaws in the world, due to low labor costs, high production rates, and encouraging government policies on foreign trade than import a large number on daily basis However the Its Indian market growth is projected over USD 1 billion by FY2023. The demand for the market is triggering due to increasing awareness for a clean environment as well as the government initiatives to fulfill the efficient energy commitments in the upcoming year.
The Electric Rickshaw market study is segmented, by Application (Transportation and Passenger) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in the transportation industry. It has wide applications for passengers and Ecart for Garbage. Several companies such as Mahindra, Jezza Motors, Bajaj, Piaggio, Kinetic are operating in the market to provide customers with a better offer with various features & unique offerings. The market is a partially fragmented market with the presence of several market players and local players. Which is triggering the market growth over the forecast period
Mahindra (India), Jezza Motors (India), Bajaj (India), Piaggio (India), Kinetic (India), e-Shaft (India), SAARTHI E-RICKSHAW (India), EXIDE INDUSTRIES LTD (India), Skyride E Rickshaw (India), Lohia Auto (India) and Others are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Electric Rickshaw market by Type, Application and Region.
On the basis of geography, the market of Electric Rickshaw has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On October 2021 Greaves Electric fully has acquires leading e-rickshaw brand Bestway Agencies
On December 2021 Mahindra Treo Electric Three-Wheeler has launched in Maharashtra
- Local pollution is nil as there is no direct emission by vehicles.
- E-rickshaw drivers manage to earn more as compared to conventional rickshaws
- Rising demand for E-rickshaw from customers is also creating job opportunities
- E-rickshaw may consist of Lead-acid batteries may lead to emissions after completion of their life cycle, if they are not recycled properly
- Solar-powered e-rickshaws may be more expensive
Key Target AudienceOEM (Original Equipment Manufacturer), Raw Material Supplier, Distributor, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End-use Industry
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Electric Rickshaw Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.