Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Electric Tuk-tuks Market to reach USD 746.09 million by the end of 2029

Global Electric Tuk-tuks Market Size study & Forecast, by Power Type (Up to 1000W, 1000W to 1500W, Above 1500W), by Battery Type (Lithium-ion, Lead Acid), by Range (Upto 50KM, More Than 50KM), by Price Range (Low to Mid, High) and Regional Analysis, 2022-2029

Product Code: ALTPCV-62035209
Publish Date: 8-02-2023
Page: 200

Global Electric Tuk-tuks Market is valued at approximately USD 461.1 million in 2021 and is anticipated to grow with a healthy growth rate of more than 6.2% over the forecast period 2022-2029. Electric Tuk-tuks, also known as electric auto rikshaws are three and four-wheeled vehicles that run on electric power. These vehicles use an electric motor instead of an engine and are intended for small distance transportation of passengers and cargo. Moreover, due to their compact size electric tuk-tuks are considered an ideal solution for transportation in urban areas where traffic jams are very prevalent. The increasing adoption of electric vehicles and surge in the popularity of shared mobility solutions in urban areas around the world are key factors accelerating the market growth.

The rising adoption of electric vehicles (EVs) due to shifting focus towards low-emission vehicles, and growing environmental pollution is contributing to the growth of the Global Electric Tuk-tuks Market. For instance, according to Statista – as of 2022, the revenue in the Global Electric Vehicles market is estimated at USD 384 billion, and the worldwide revenue is projected to show an annual growth rate (CAGR 2022-2027) of 17.75%, to reach to market volume of USD 869.30 bn by 2027. Also, favorable initiatives from government authorities to promote clean mobility e.g., subsidies, incentive schemes for vehicle manufacturers and rising investment in EV charging infrastructure would create a lucrative growth prospectus for the market over the forecast period. For instance, as per Press Information Bureau of India (PIB) – in 2019, the Government of India approved the proposal for a new scheme named Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II) for electric mobility in the country. The total fund outlay of the scheme is estimated at USD 1226.71 million to be spent over three years from 2019-20 to 2021-22 for providing upfront incentives for purchase of Electric Vehicles & to develop EV charging infrastructure in the region. However, high cost of Electric Tuk-tuks and lack of standardization of EV charging stifle the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Electric Tuk-tuks Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the dominance of leading market players and increasing adoption of e-rickshaws in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising investment in electric vehicle infrastructure and favorable initiatives from government authorities to promote the use of clean transportation solutions coupled with increasing penetration of leading market players in the region.

Major market players included in this report are:
Arna Electric Auto Pvt Ltd.
Bajaj Auto Ltd.
E-Tuk Factory
Goenka Electric Motor Vehicles Pvt. Ltd.
Green Valley Motors
Hero Electric
Jezza Motors
Kinetic Green Vehicles
KUKU Automotives
Mahindra Electric Mobility Limited

Recent Developments in the Market:
 In December 2020, Gayam Motor Works & Sokowatch announced a partnership to Launch East Africa’s First Commercial Electric Tuk-Tuks. Sokowatch, a B2B e-commerce startup to utilize these Tuk-Tuks for hyperlocal deliveries in East Africa region.

Global Electric Tuk-tuks Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Power Type, Battery Type, Range, Price Range, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Power Type
Up to 1000W
1000W to 1500W
Above 1500W

By Battery Type
Lead Acid

By Range
Upto 50KM
More Than 50KM

By Price Range
Low to Mid

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
1.2.1. Electric Tuk-tuks Market, by Region, 2019-2029 (USD Million)
1.2.2. Electric Tuk-tuks Market, by Power Type, 2019-2029 (USD Million)
1.2.3. Electric Tuk-tuks Market, by Battery Type, 2019-2029 (USD Million)
1.2.4. Electric Tuk-tuks Market, by Range, 2019-2029 (USD Million)
1.2.5. Electric Tuk-tuks Market, by Price Range, 2019-2029 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Electric Tuk-tuks Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Electric Tuk-tuks Market Dynamics
3.1. Electric Tuk-tuks Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing adoption of EVs Growing popularity of shared mobility
3.1.2. Market Challenges High Cost of Electric Tuk-tuks Lack of standardization of EV charging
3.1.3. Market Opportunities Initiatives from government authorities to promote clean mobility Rising investment in EV charging infrastructure
Chapter 4. Global Electric Tuk-tuks Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Electric Tuk-tuks Market, by Power Type
6.1. Market Snapshot
6.2. Global Electric Tuk-tuks Market by Power Type, Performance – Potential Analysis
6.3. Global Electric Tuk-tuks Market Estimates & Forecasts by Power Type 2019-2029 (USD Million)
6.4. Electric Tuk-tuks Market, Sub Segment Analysis
6.4.1. Up to 1000W
6.4.2. 1000W to 1500W
6.4.3. Above 1500W
Chapter 7. Global Electric Tuk-tuks Market, by Battery Type
7.1. Market Snapshot
7.2. Global Electric Tuk-tuks Market by Battery Type, Performance – Potential Analysis
7.3. Global Electric Tuk-tuks Market Estimates & Forecasts by Battery Type 2019-2029 (USD Million)
7.4. Electric Tuk-tuks Market, Sub Segment Analysis
7.4.1. Lithium-ion
7.4.2. Lead Acid
Chapter 8. Global Electric Tuk-tuks Market, by Range
8.1. Market Snapshot
8.2. Global Electric Tuk-tuks Market by Range, Performance – Potential Analysis
8.3. Global Electric Tuk-tuks Market Estimates & Forecasts by Range 2019-2029 (USD Million)
8.4. Electric Tuk-tuks Market, Sub Segment Analysis
8.4.1. Upto 50KM
8.4.2. More Than 50KM
Chapter 9. Global Electric Tuk-tuks Market, by Price Range
9.1. Market Snapshot
9.2. Global Electric Tuk-tuks Market by Price Range, Performance – Potential Analysis
9.3. Global Electric Tuk-tuks Market Estimates & Forecasts by Price Range 2019-2029 (USD Million)
9.4. Electric Tuk-tuks Market, Sub Segment Analysis
9.4.1. Low to Mid
9.4.2. High
Chapter 10. Global Electric Tuk-tuks Market, Regional Analysis
10.1. Electric Tuk-tuks Market, Regional Market Snapshot
10.2. North America Electric Tuk-tuks Market
10.2.1. U.S. Electric Tuk-tuks Market Power Type breakdown estimates & forecasts, 2019-2029 Battery Type breakdown estimates & forecasts, 2019-2029 Range breakdown estimates & forecasts, 2019-2029 Price Range breakdown estimates & forecasts, 2019-2029
10.2.2. Canada Electric Tuk-tuks Market
10.3. Europe Electric Tuk-tuks Market Snapshot
10.3.1. U.K. Electric Tuk-tuks Market
10.3.2. Germany Electric Tuk-tuks Market
10.3.3. France Electric Tuk-tuks Market
10.3.4. Spain Electric Tuk-tuks Market
10.3.5. Italy Electric Tuk-tuks Market
10.3.6. Rest of Europe Electric Tuk-tuks Market
10.4. Asia-Pacific Electric Tuk-tuks Market Snapshot
10.4.1. China Electric Tuk-tuks Market
10.4.2. India Electric Tuk-tuks Market
10.4.3. Japan Electric Tuk-tuks Market
10.4.4. Australia Electric Tuk-tuks Market
10.4.5. South Korea Electric Tuk-tuks Market
10.4.6. Rest of Asia Pacific Electric Tuk-tuks Market
10.5. Latin America Electric Tuk-tuks Market Snapshot
10.5.1. Brazil Electric Tuk-tuks Market
10.5.2. Mexico Electric Tuk-tuks Market
10.5.3. Rest of Latin America Electric Tuk-tuks Market
10.6. Rest of The World Electric Tuk-tuks Market

Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. Arna Electric Auto Pvt Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.2.2. Bajaj Auto Ltd.
11.2.3. E-Tuk Factory
11.2.4. Goenka Electric Motor Vehicles Pvt. Ltd.
11.2.5. Green Valley Motors
11.2.6. Hero Electric
11.2.7. Jezza Motors
11.2.8. Kinetic Green Vehicles
11.2.9. KUKU Automotives
11.2.10. Mahindra Electric Mobility Limited
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now