How big is the India Electric Rickshaw Market?

The India Electric Rickshaw Market size is expected to reach USD 1.15 billion in 2024 and grow at a CAGR of 11% to reach USD 2.81 billion by 2029. Read More

What is the current India Electric Rickshaw Market size?

In 2024, the India Electric Rickshaw Market size is expected to reach USD 1.15 billion. Read More

Who are the key players in India Electric Rickshaw Market?

Mahindra Electric Mobility Limited, Kinetic Green Energy & Power Solutions Ltd, Terra Motors India Corp., Piaggio Vehicles Pvt. Ltd and Zuperia Auto Pvt. Ltd are the major companies operating in the India Electric Rickshaw Market. Read More

What years does this India Electric Rickshaw Market cover, and what was the market size in 2023?

In 2023, the India Electric Rickshaw Market size was estimated at USD 1.02 billion. The report covers the India Electric Rickshaw Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Electric Rickshaw Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Electric Rickshaw Market in India

Electric Rickshaw Market in India Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

The Report Covers E-Rickshaw Manufacturers in India and Has Been Segmented by End User (Passenger Carrier and Goods Carrier), Battery Type (Lithium-Ion Battery, Lead Acid Battery, and Other Types of Battery), Battery Capacity (Up To 3 KWh and More Than 3 KWh), and States (Maharashtra, Uttar Pradesh, Tamil Nadu, Rajasthan, Punjab, Karnataka, Delhi, Telangana, and Rest of India). The Report Offers Market Size and Forecast for the Indian Electric Rickshaw Market in Value (USD Million) for the Above Segments.

India Electric Rickshaw Industry Overview

The Indian electric rickshaw market is primarily dominated by a large number of small, unorganized local players, accounting for a major market share. Some of the major players in the market are Lohia Auto Industries, Kinetic Green Energy and Power Solutions Ltd, Terra Motors Corporation, ATUL Auto Ltd, and YC Electric Vehicle Corporation. However, several state governments offer policies and subsidies to promote the sale of electric three-wheelers nationwide. For instance,

In August 2023, Udaan announced an electric rickshaw expansion plan for Northeast India to revolutionize last-mile connectivity and contribute to sustainable urban mobility. The company expects significant sales growth in the region. Udaan has appointed Zonal Sales heads for the East and Northeast regions to strengthen its presence and is actively building a network of distributors and dealers. Udaan has also partnered with various banks and financial institutions to facilitate credit facilities, making it easier for potential buyers to adopt EVs without facing financial barriers.
In August 2023, Lord's Automotive Pvt. Ltd, a subsidiary of Lord's Mark Industries, introduced a range of EVs. The lineup consists of six three-wheeler models: Lord's King E-Rickshaw, Lord's Samrat E-Loader, Lord's Sawari Butterfly E-Rickshaw, Lord's Gati Butterfly E-Loader, Lord's Grace E-Rickshaw designed for individuals with disabilities, and Lord's Swachh Yaan E-Garbage.
In August 2023, Saera Keto EV unveiled plans to launch a range of new e-rickshaws and e-autos in the next six months. The company targets sales in major metros and tier 2 and 3 cities, and it aims to establish an initial retail network of 100 dealers across the country.