China electric rickshaw market is estimated to grow at a considerable CAGR 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. The rising demand for electric rickshaws in metropolitan cities, government support, and the presence of major market players in the country are further contributing to the growth of the China electric rickshaw market. China is one of the members of the EV30@30 Campaign that aims to accelerate the deployment of EVs. Further, China is actively participating in EV pilot project programs. In 2018, the country had set a target that electric rickshaw to account for at least 15% of its vehicle sales by 2025.
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The market is segmented based on carrier 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. The decline in cost of li-ion battery and inherent benefits offered by these batteries including smaller size, lighter weight, and higher energy density is anticipated to drive the market share of these batteries.
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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
China Electric Rickshaw Market Report Segment
By Carrier Type
- Passenger Carrier
- Load Carrier
By Battery Type
- Lead Acid
- Li-ion
The Report Covers
- Comprehensive research methodology of China 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 impactingChina Electric Rickshaw market.
- Insights about market determinants which are stimulatingthe China 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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