India E-Rickshaw and On-Demand Ride Hailing Market Set to Exhibit Tremendous Growth in Future

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With the rising environmental degradation and the deteriorating air quality levels in the major cities and towns, the government at both the state and central levels in India are focusing on promoting the deployment of eco-friendly modes of transportation such as electric rickshaws (e-rickshaws). As a result, there has been a sharp surge in the enactment of strict environment protection laws in the country. These laws are aimed at reducing the usage of fossil fuel-powered vehicles.

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This initiative made e-rickshaw services available in 29 metro stations. Additionally, the increasing road congestion is propelling the requirement for shared mobility services in the country. Because of these factors, the popularity of e-rickshaws and on-demand ride hailing services is growing rapidly in the country. In the major cities such as Kolkata, Delhi-NCR, Chandigarh, and Ahmedabad, people are increasingly preferring green and environment-friendly modes of transportation such as low-speed electric vehicles.

Moreover, they are also looking for urban mobility options that are more convenient and cost-effective than the personal ownership of vehicles. This is driving the demand for on-demand ride hailing services in the country. The major e-rickshaw and on-demand ride hailing service providing companies operating in India are increasingly focusing on frequent product launches and other business activities in order to expand their customer base and strengthen their position within the industry.

For example, ETO Motors, an Electric Mobility as a Service (EMaaS) providing company based in Hyderabad launched e-rickshaw last-mile and first-mile services at certain selected metro stations in Delhi in March 2020. Some of the prominent partners of ETO Motors are Hyderabad Metro Rail (HMR),Noida Metro Rail Corporation (NMRC),Kochi Metro Rail Ltd. (KMRL), Telangana State Road Transport Corporation (TSRTC), South Central Railway, and Nagpur Metro Rail Project (NMRL).

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The increasing operations of various transportation network companies (TNC) in this sector is causing the rapid integration of advanced mobile technologies such as global positioning service (GPS)-enabled applications in e-rickshaws and on-demand ride hailing services. This is creating an enhanced user experience and making ride booking and various other processes associated with these services hassle-free and smooth. Moreover, this is improving the last/first mile connectivity and fueling the growth of the Indian e-rickshaw and on-demand ride hailing market.

Thus, it can be safely concluded that the demand for e-rickshaws and on-demand ride hailing services is set to grow rapidly in India in the upcoming years, mainly on account of the ballooning requirement for eco-friendly modes of transportation, due to the escalating pollution levels in the major cities and towns, and convenient urban mobility options.

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