India Electric Rickshaw Market Research Report 2023-2028
The India electric rickshaw market size reached US$ 1.2 Billion in 2022, Propelled by Rising Awareness Regarding Eco-Friendly Commuting Solutions
BROOKLYN, NY, USA, February 7, 2023 /EINPresswire.com/ -- IMARC Group has recently released a new research study titled "India Electric Rickshaw Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
An electric rickshaw (E-rickshaw) is a three-wheeled vehicle powered by an electric motor whose traction energy is explicitly supplied by rechargeable batteries. Commonly used as a mode of transportation, it is a sustainable alternative to traditional petrol or diesel-powered rickshaws. E-rickshaws are made using a lightweight frame, and some primary components include a motor, battery, throttle, harness, controller, and charging system. The electrical energy stored in the battery is converted into mechanical energy to drive the motor. As compared to traditional rickshaws, electric rickshaws are cost-effective, require less maintenance, and reduce emissions, making them a much cleaner and environmentally friendly alternative. Currently, there are two types of product variants available, including battery-operated and pedal-assisted.
E-rickshaw Industry Growth Drivers:
Rising environmental awareness has considerably surged the demand for clean and eco-friendly transportation options, such as electric rickshaws, which represent one of the primary factors bolstering the market growth in the country. Additionally, the Government of India (GoI) is actively working to promote the adoption of electric rickshaws and is providing various incentives and subsidies, which, in turn, is accelerating the market growth. Moreover, the escalating demand for last-mile connectivity in urban areas, rapid technological advancements, and surging fuel prices are providing an impetus to the market growth.
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Elena Anderson
IMARC Services Private Limited
+1 6317911145 email us here
Contact
Elena Anderson
IMARC Services Private Limited
+1 6317911145
email us here
