Gurugram, India - March 24, 2023 - The E-rickshaw market in India is poised for significant growth over the next two years. India's E-Rickshaw market crossed the USD 2.5 billion mark in 2018 and is expected to grow at a CAGR of 33.3% during the forecast period 2022-2031.
E-Rickshaw is a flexible, non-polluting, and affordable means of Intermediate Para-Transit (IPT) system. E-Rickshaw is the latest entry into the Indian road transportation system. Since E-Rickshaw was introduced in India, it has been playing a significant role in solving the issue of last-mile intercity connectivity. The demand for E-rickshaws has been increasing in India due to various factors such as government initiatives, rising fuel prices, and growing awareness about environmental issues.
Today, E-Rickshaw has become one of the most preferred modes of transportation in major urban and suburban cities of India. The demand for E-rickshaws is expected to increase significantly in tier-II and tier-III cities, where the penetration of E-rickshaws is currently low.
According to the findings of Future Market Insights, the cost of charging stations and the quality of EV batteries are considered the primary challenge in adopting e-rickshaws. These vehicles cannot be utilized while being charged due to their need to be connected to a single place.

FMI has analyzed that the government is likely to support the electrification of auto-rickshaws as a proactive policy toward sustainable mobility in urban areas. And the government of India's initiatives, such as the Faster Adoption and Manufacturing of Electric rickshaw (FAME) scheme, are expected to play a crucial role in promoting the growth of the E-rickshaw market in the country.

The competition landscape in the E-rickshaw market is primarily dominated by a large number of small, unorganized local players, accounting for a significant market share. However, established players in the market are introducing their new models and product launches to gain a competitive edge over other players.
One such exceptional option for E-rickshaw businesses is Anikaa by HBSS E-mobility Pvt Ltd. The company produces high-quality E-rickshaws that are customizable based on client requirements and feedback. Anikaa E-rickshaws are not only economical but also offer a comfortable ride, making them a preferred choice for transportation businesses.
For more information on Anikaa E-rickshaw, please visit https://www.anikaaev.com/or contact at +91 99901 19979

About Anikaa by HBSS:
HBSS E Mobility Pvt Ltd is the youngest addition to the HBSS family and is committed to creating quality-conscious, sustainable, and cost-efficient mobility options for the people of India. Anikaa E-rickshaw is dedicated to producing the most eco-friendly and green E-rickshaws. For more information, visit https://www.anikaaev.com/