India Electric Rickshaw Market-converted

A number of growth factors, such as the proliferation of electric vehicles (EVs) on
Indian roads, rise in the demand for low-cost vehicles for first- and last-mile
connectivity, implementation of stringent environmental policies, and government
initiatives to promote EVs, are expected to propel the Indian electric rickshaw market at
a CAGR of 33.3% during the forecast period (2020–2025). According to P&S
Intelligence, the market generated $786.2 million revenue in 2019,which is projected to
reach $1,394.2 million by 2025.
The Indian electric rickshaw market growth is driven by the escalating demand for lowcost
vehicles for first/last-mile connectivity. Electric rickshaws rides are being seen as
an economical solution to bridge the public transport service gaps for commuters.
Therefore, the service is gaining traction among the daily commuters in the country. For
instance, the price per head per kilometer of the service is $0.14 (INR 10). Thus, these
vehicles are extensively used for first- and last-mile connectivity in Indian cities.
Request to Get the Sample Report: https://www.psmarketresearch.com/marketanalysis/india-electric-rickshaw-market/report-sample
At the state level, Delhi generated the highest demand for electric rickshaws in 2019, on
account of the existence of a vast metro commuter base and subsidy of $413 (INR
30,000) on electric rickshaws provided by the Delhi government to reduce the air
pollution level in the state. On the other hand, the market in Uttar Pradesh is projected
to witness significant Indian Electric Rickshaw Market growth during the forecast
period, owing to the rising demand for electric rickshaws in Tier-1 and Tier-2 cities, as
well as in the rural areas of the state.
Thus, the growing adoption of EVs to reduce pollution and the rising demand for lowcost
vehicles for first- and last-mile connectivity will accelerate the market growth in
the foreseeable future.
Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/sendenquiry?enquiry-url=india-electric-rickshaw-market
Market size breakdown by vehicle type
Passenger car
Commercial
Market size breakdown by voltage
Low voltage
High voltage
Market size breakdown by propulsion
ICE
EV
Market size breakdown by material type
Copper
Aluminum