E-rickshaw Market Growth Accelerates in 2025 as Terra Motors, Bajaj Auto, and Piaggio Launch New Models

E-rickshaw Market Size Trends, Share and Growth Analysis

The e-rickshaw market is expected to increase from USD 3.97 billion in 2025 to USD 49.63 billion by 2034, growing at a CAGR of 32.02% throughout the forecast period from 2025 to 2034. The increasing demand for sustainable transportation solutions coupled with technological advancements in the EV sector has boosted the market expansion.

Additionally, numerous government initiatives aimed at developing the EV charging infrastructure along with growing sales of electric three-wheelers in the Asia Pacific region is playing a prominent role in shaping the industrial landscape. The research and development activities related to sodium batteries is expected to create ample growth opportunities for the market players in the future.

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Introduction

The e-rickshaw market is an important sector of the automotive industry. This industry deals in manufacturing and distribution of e-rickshaws in different parts of the world. There are numerous types of e-rickshaws developed in this sector comprising of passenger e-rickshaws and cargo e-rickshaws. These e-rickshaws are powered by different types of batteries including lead-acid battery, lithium-ion battery, nickel-metal hydride battery and some others. It finds application in several sectors including urban commute, last-mile delivery, tourism and pilgrimage, campus and industrial hubs, and some others. This market is expected to rise significantly with the growth of the electric vehicle industry around the globe.

Highlights of the e-rickshaw market

• Asia Pacific generated highest revenue of the e-rickshaw market.
• North America is expected to grow with a significant CAGR during the forecast period.
• By battery type, the lead-acid batteries segment held the largest share of the market.
• By battery type, the nickel-metal hydride batteries segment is expected to rise with a considerable CAGR during the forecast period.
• By application, the urban commute segment led the market.
• By application, the last-mile delivery segment is expected to grow with a notable CAGR during the forecast period.

Key Metrics and Overview

What are the Trends of the E-rickshaw Market in 2025?

The major trends in this market consists of business expansions, partnerships and government initiatives.

Business Expansions

• Numerous market players are investing heavily for opening up new e-rickshaw manufacturing plants to enhance production output.

Partnerships

• Several e-rickshaw companies are partnering with battery manufacturers to develop advanced batteries for providing superior range.

Government Initiatives

• Government of several countries such as Germany, the U.S, France, UK and some others for developing the EV charging infrastructure.

Battery Type Insights

How did the Lead-acid Batteries Segment Led the E-rickshaw Market in 2025?

The lead-acid batteries segment led the market. The growing use of lead-acid batteries in three-wheelers due to their low cost and high reliability has boosted the market expansion. Additionally, partnerships among battery manufacturers and e-rickshaw companies is playing a crucial role in shaping the industrial landscape. Moreover, numerous advantages of these batteries including superior performance, recyclability, low-self discharge, less cost and some others is expected to drive the growth of the e-rickshaw market.

The nickel-metal hydride batteries segment is expected to expand with a considerable CAGR during the forecast period. The rising adoption of nickel-metal hydride batteries by e-rickshaw companies higher energy density than NiCd batteries has boosted the market growth. Additionally, rapid investment by battery brands for opening up new nickel-metal hydride battery manufacturing plants is expected to drive the growth of the e-rickshaw market.

Application Insights

What Made the Urban Commute to be the Most dominant Segment of the E-rickshaw Market in 2025?

The urban commute segment held the largest share of the market. The growing use of e-rickshaw for operating urban commute has boosted the market expansion. Additionally, numerous government initiatives aimed at enhancing public transportation infrastructure is expected to drive the growth of the e-rickshaw market.

The last-mile delivery segment is expected to rise with a notable CAGR during the forecast period. The growing popularity of last-mile delivery services in developed nations has boosted the industrial growth. Additionally, the deployment of e-rickshaws for operating last-mile delivery is expected to boost the growth of the e-rickshaw market.

Geographical Insights

Why Asia Pacific Dominated the E-rickshaw Market in 2025?

Asia Pacific dominated the e-rickshaw market. The growing demand for e-rickshaws in several countries such as India, China, Singapore, Thailand and some others has boosted the market expansion. Additionally, numerous government initiatives aimed at developing the EV sector coupled with opening of new EV manufacturing plants is playing a vital role in shaping the industrial landscape. Moreover, the presence of various market players such as BYD Auto, Geely Automobile Holdings, Hero Electric, Bajaj Auto and some others is expected to boost the growth of the e-rickshaw market in this region.

• In May 2025, Bajaj Auto launched an electric rickshaw brand named GoGo. Under this brand, Bajaj Auto aims at launching a new range of e-rickshaws in India. (Source: Autocar Professional)

North America is expected to rise with a significant CAGR during the forecast period. The rising adoption of sustainable transportation solutions in the U.S. and Canada has driven the market growth. Additionally, rapid investment by government for developing the EV charging infrastructure coupled with technological advancements in the EV sector is contributing to the industry in a positive direction. Moreover, the presence of numerous market players such as GreenPower Motor Company, Star EV, Ride Green and some others is expected to propel the growth of the e-rickshaw market in this region.

• In January 2025, the government of U.S. announced to invest around US$ 635 million. This investment is done for developing the EV charging infrastructure across the U.S. (Source: U.S. Department of Transportation)

Industry Leader Announcement

• In May 2025, Go Suzuki, Managing Director of Terra Motors India made an announcement stating that, “With over a decade of experience in manufacturing and operations in India, Terra Motors has positioned itself as a leader in the country’s EV segment. The company has sold over 100,000 L3 units, making it a market leader in East India, at Terra, we’ve been shaping the future of clean mobility with our E-rickshaws. Now, with the launch of our Electric Auto (L5), we’re redefining transport on India’s roads. Our unique zero down payment financing ensures every customer has the freedom to choose the best, making sustainable mobility more accessible than ever.”

Competitive Landscape

The e-rickshaw market is a highly fragmented industry with the presence of several dominating players. Some of the prominent companies in this industry consists of Apna ERickshaw, Great Wall Motor, Eicher Motors, Piaggio Vehicles, Geely Automobile Holdings, SUN Mobility, Mahindra Electric, Kinetic Green, TVS Motor Company, Hero Electric, Yadea, BYD Auto, Omega Seiki Mobility, Gemopai, Bajaj Auto and some others. These companies are constantly engaged in manufacturing e-rickshaws and adopting numerous strategies such as business expansions, joint ventures, launches, partnerships, acquisitions, collaborations, and some others to maintain their dominance in this industry.

• According to the annual report of Geely, around 76% of the company’s revenue was generated from China followed by others in 2024. (Source: zgh)

Recent Developments

• In July 2025, Eka Mobility launched two new electric rickshaws named as Eka 3S and Eka 6S. These electric rickshaws are designed for the middle-class consumers of India. (Source: TRUCK JUNCTION)
• In May 2025, Terra Motors launched Kyoro+ Electric Rickshaw. This e-rickshaw is designed for African countries such as Tanzania, Ethiopia, and Nigeria. (Source: Trucks Dekho)
• In July 2025, Piaggio launched Ape E-City Ultra and Ape E-City FX Maxx. These two electric rickshaws are equipped with a 8.0 kWh prismatic-cell battery that is expected to deliver a certified range of 174 km on full charge. (Source: EV Mechanica)

Top E-rickshaw Market Players

• Apna ERickshaw
• Piaggio Vehicles
• Geely Automobile Holdings
• SUN Mobility
• Mahindra Electric
• Kinetic Green
• TVS Motor Company
• Hero Electric
• Yadea
• BYD Auto
• Gemopai
• Bajaj Auto
• Great Wall Motor
• Eicher Motors
• Omega Seiki Mobility

E-rickshaw Market Segments

By Type

• Passenger
• Cargo

By Battery Type

• Lead-Acid
• Lithium-Ion
• Nickel-Metal Hydride

By Power Rating

• Below 1 kW
• 1-2 kW
• 2-3 kW
• Above 3 kW

By Application

• Urban Commute
• Last-Mile Delivery
• Tourism and Pilgrimage
• Campus and Industrial Hubs

By Battery Capacity

• 10 kWh
• 10-20 kWh
• 20-30 kWh
• >30 kWh

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific
• The Middle East and Africa