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- India E-Rickshaw and On-Demand Ride Hailing Market - In-Depth Analysis of Industry Sizing and Dynamics till 2030
India E-Rickshaw and On-Demand Ride Hailing Market is Driven by the Increasing Need for Public Transportation for First-and Last-Mile Connectivity
India E-Rickshaw and On-Demand Ride Hailing Market Growth Report@ https://www.psmarketresearch.com/market-analysis/indian-e-rickshaw-on-demand-ride-hailing-industry
As per a report by a market research institution, P&S Intelligence, the India e-rickshaw and on-demand ride hailing market is expected to reach more than 4 million units on the road, propelling at a 10.8% compound annual growth rate, by 2030.
In the early 2010s, E-rickshaws became increasingly popular in India as they began operating in the suburban and urban regions of Delhi-NCR, as well as towns in Bihar, West Bengal, and Uttar Pradesh. These electric-powered vehicles serve as zero tailpipe emission alternatives, providing first-/last-mile connectivity within these cities.
Moreover, the majority of e-rickshaw services in these areas were initially introduced without proper planning or as pilot projects and subsequently expanded in an unplanned manner.
The increasing pollution level in numerous cities of India, which is a serious concern for people and the government, increases the requirement for green-technology-powered automobiles for traveling.
Presently, India boasts a fleet of over one million e-rickshaws in active operation. Over the last decade, Delhi emerged as the primary industry for e-rickshaws.
A key trend observed in the India e-rickshaw and on-demand ride-hailing market is the growing collaboration between government authorities and public bodies. With the Government of India (GOI) and state authorities taking steps to regulate the use of e-rickshaws, several initiatives are being implemented through public-private partnership arrangements.
One of the primary obstacles faced by all e-rickshaw operators in India is the unavailability and inaccessibility of charging infrastructure. This challenge significantly hampers their mobility during extended working hours and longer trips.
Furthermore, it typically takes 7-10 hours to fully charge a battery to achieve an operational range of 80-110 km, which can vary depending on the battery's load and age. The absence of regulated and fast-charging stations poses a significant challenge for drivers. As a result, they are compelled to rely on services provided by unorganized players.
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