Asia-Pacific electric rickshaw market is estimated to grow at a CAGR of more than 23.0% during the forecast period. The rising need to address future energy requirements is one of the major factors to drive the growth of the market. China and India are the major countries to make a considerable contribution to the market growth of electric rickshaws in the Asia-Pacific region. In January 2020, Amazon India has pledged to add 10,000 electric rickshaws to its delivery fleet by 2025.In 2015, the government of India had adopted the faster adoption and manufacturing of hybrid and EV (FAME) scheme with an outlay of $130 million, to provide subsidies for electric rickshaws, electric 2- and 3-wheelers, hybrid and e-cars, and buses. The adoption of such a scheme by the Indian government is anticipated to promote the adoption of electric rickshawsin the region.
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The market is segmented on the basis ofcarrier type and battery type. Based on the carrier type, the market is sub-segmented into the passenger carrier and the load carrier. Based on carrier type, the passenger carrier is anticipated to showcase a considerable growth rate during the forecast period. The increasing demand for electric vehicles for passengers to reduce vehicle emission and to offer low-cost mobility is a key factor contributing to the passenger carrier electric rickshaw. Based on the battery type, the market is sub-segmented into lead-acid and Li-Ion batteries. Based on the country, the market is segmented into China, Japan, India, and Rest of Asia-Pacific.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Asia-Pacific Electric Rickshaw Market Report Segment
By Carrier Type
- Passenger Carrier
- Load Carrier
By Battery Type
- Li-Ion
- Lead Acid
The Report Covers
- Comprehensive research methodology of the Asia-Pacific Electric Rickshaw market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Asia-Pacific Electric Rickshaw market.
- Insights about market determinants which are stimulating the Asia-Pacific Electric Rickshaw market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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