India
has always been home for three wheelers and similar modes of transportation, as
they offer a much needed solution for intercity mobility, which is frequent and
affordable. Before the Indian government announced its intention to have an
all-electric public transportation fleet by 2030, a three-wheeled electric
rickshaw was taking Indian cities by storm. As per a study conducted by Society
of manufacturers of electric vehicle, nearly 17 lakhs e-rickshaws have been
plying across the Indian cities. In Delhi-NCR alone, the number of electric
rickshaws plying on the roads are over 4 lakhs.
At
first, electric rickshaw was launched in Delhi during the commonwealth games to
provide last mile connectivity to the visitors or spectators going to
commonwealth games venue and have presented themselves as an affordable,
eco-friendly and convenient mode of mobility. Today, it has spread across the
nation, owing to its immense potential of bridging the gap of first and last
mile connectivity. In most urban and semi-urban areas, these battery fitted
tricycles are providing the much required connectivity to the people and is
being welcomed by everyday passengers. Today, e-rickshaws are spreading to
other Indian cities such as Amritsar, Ahmedabad, Gaya, Patna, Jamshedpur,
Cuttack, Kochi, Hyderabad etc. to offer a proper para-transit solution for
connecting nearby places. However, the lack of proper regulation such as the
registration of these vehicles has triggered the concern for the authorities as
most of them plying on the roads have not been registered with the governing
authorities. Additionally, the sporadic growth of e-rickshaws also creates
problems like traffic congestion as the speed of these vehicles is limited to
25Kmph and don’t have proper parking stands.
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The spread and
acceptance of the e-rickshaws became inevitable. Further, the government is
also working towards encouraging and accelerating the adoption of electric
vehicles in public transport system in India, which is also expected to
accelerate the Indian e-rickshaw market in near future. On an average, it is
expected that as many as 10,000 new e-rickshaws would be entering the Indian
market every month while the annual sales would increase by 9.1% during the
forecast period. With increasing government focus on promoting electric vehicle
usage and offering subsidies and tax relaxation, it is believed that India
e-rickshaw market will witness unprecedented growth. E-rickshaw is a boon to
the commuters as well as for the environment. E-rickshaws have become one of
the preferred modes of public transport for passengers, and is gaining
popularity as they are alternative to petrol, diesel or CNG driven vehicles.
E-rickshaw is a battery-powered vehicle, which can run 90-100 km on full charge
at a top speed of 25 km/hour. In India, majority of e-rickshaw runs on Sealed
Lead Acid (SLA) battery as it is cheaper while nowadays, the market for Li-ion
battery is gaining popularity due to its benefits. The Li-ion battery gets
charged in less time in comparison to the lead acid battery and also needs less
maintenance. Owing to its benefits, it is expected that in Indian e-rickshaw
market, Li-ion battery market is growing significantly with a CAGR of more than
12% over the forecast period.
The number of electric vehicles is growing in
India and so does the e-rickshaw but the lack of an adequate charging
infrastructure across the country is hindering the possible growth of
e-rickshaw market. The difficulties in finding the charging stations/points for
charging the e-rickshaw and uncertainty over being able to charge the battery
is said to be holding back the sales of e-rickshaw. Coupled with this, the lack
of availability of sufficiently accessible charging points for public use and
proper parking stands further restrain Indian e-rickshaw market. Typically,
e-rickshaws are built to carry passengers, however, with increasing awareness
regarding its nature i.e. cost-efficient and eco-friendly, e-loader is also
gaining popularity in the Indian market for carrying goods. Majority of the
e-rickshaw market is held by passenger carrier. On the other hand, with the
increasing usage of e-loader for carrying goods, garbage, cartons, water
bottles, etc., it is expected that this segment would grow at a CAGR of more
than 10% during the analyzed period.
Browse Complete Report with TOC – https://univdatos.com/news/India-Electric-Rickshaw-Market-2018-2025-is-likely-to-reach-USD-5-Billion-by-2025-growing-at-a-CAGR-of-9-percent
Indian e-rickshaw market is
very much fragmented. Large number of organized and unorganized players are
operating in the Indian e-rickshaw market. However, the majority of share is
held by unorganized players as these players import e-rickshaw parts from China
and assemble them at their manufacturing units. The price of an e-rickshaw is
very much competitive and is ranged between INR 90,000-1,10,000. Some of the
prominent players operating in the Indian e-rickshaw market include Terra
Motors, Atul Auto, Lohia Auto, Hero Electric, Electrotherma, Mahindra &
Mahindra, Saera Auto and OK Play. These players are consistently working to
meet the growing consumer demand and strengthen their market position which
further offers them growth opportunities for regional expansion in the
e-rickshaw industry in India.
India E-Rickshaw
Market
Market Insights by
Vehicle Type
Passenger Carrier
Load Carrier
Market Insights by
Battery Type
Sealed Lead Acid (SLA)
Li-ion
Market Insights by
Ownership
Owned E-Rickshaw
Rented E-Rickshaw
Market Insights by
Region
Delhi-NCR
Lucknow
Kolkata
Nagpur
Bengaluru
Pune
Chennai
Hyderabad
Others
Top Company
Profiled
Terra Motors Corporation
Hero Electric Vehicles Pvt.
Ltd.
Atul Auto Ltd.
Electrotherma (India) Ltd.
Mahindra & Mahindra
OK Play India Limited
Kinetic Engineering Limited
Lohia Auto Industries
Saera Electric Auto Pvt. Ltd
GreenRick
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India
E-Rickshaw market can be customized
to the state level or any other market segment. Besides this, UMI understands
that you may have your own business need, hence we also provide fully
customized solutions to clients.
Contact
us -
UnivDatos
Market Insights (UMI)
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sales@univdatos.com
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