As per the India Brand Equity Foundation (IBEF), the e-commerce sector in the country is witnessing significant growth, and it is expected to surpass that of the U.S. to become the second-largest in the world by 2034. The prospering e-commerce sector, on account of the surging penetration of smartphones and the internet and changing consumption patterns, will augment the deployment of electric loader rickshaws for cargo delivery. Owing to this reason, the Indian electric loader rickshaw market will advance at a considerable rate during 2020–2030.
The presence of such vehicles on Indian roads has surged in the last two years owing to the rising environmental concerns and technological advancements in the automobile industry. To mitigate the rising air pollution levels, the central government and state governments are offering incentives and subsidies on electric three-wheelers, thereby fueling the production and adoption of electric loader rickshaw across India. These vehicles can carry cargo loads of up to 450 kg, thus making them ideal for light-to-medium-duty urban freight transport operations.
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Such vehicles operate on lithium-ion (Li-ion) and lead-acid batteries. The manufacturers of these three-wheelers have begun to prefer Li-ion batteries over lead-acid batteries because the former take lesser charging time, have lower weight and longer range, and offer better operational efficiency than the latter. Moreover, the large-scale production of Li-ion batteries in India, on account of the easy availability of raw materials, will amplify their integration into these three-wheelers in the future. For example, Kinetic Green Energy & Power Solutions Ltd. offers Kinetic Safar Shakti, a Li-ion-battery-powered electric cart (e-cart).
According to P&S Intelligence, the Indian electric loader rickshaw market has a strong presence in Ahmedabad. Around 70% of all the electric rickshaws in Ahmedabad are loader rickshaws, whereas in Gurugram, 15%–20% are loader rickshaws. Moreover, the percentage of electric loaders is rising in the electric cargo three-wheeler fleet of Delhi. Apart from these, several cities of Uttar Pradesh, Madhya Pradesh, West Bengal, Bihar, Rajasthan, Punjab, Assam, and Jharkhand are adopting a significant number of electric loader rickshaws.
Thus, the progressing e-commerce sector and rising government support will boost the number of electric loader rickshaws on Indian roads.