Market Size of Asia-Pacific Rickshaw Ride Hailing Service Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 21.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Rickshaw Ride Hailing Service Market Analysis
The Asia-Pacific Rikshaw Ride-Hailing Service Market was valued at 13 billion in 2021 and is expected to reach USD 42 billion by 2027, registering a CAGR of 21.5%.
Owing to the global pandemic and the subsequent lockdowns, the Asia-pacific rikshaw ride-hailing service market witnessed a downfall. Due to the restrictions and the halted tourism, the studied market declined. But owing to the ease in the restrictions and life coming to normalcy, the Rickshaw Ride Hailing market is expected to grow during the forecast period.
Tourism has grown dramatically over the decades, diversifying more and becoming one of the world's fastest-growing economic sectors. Modern tourism is inextricably tied to economic growth and includes an increasing number of new locations. Tourism has been a crucial engine of socioeconomic advancement as a result of these processes. Tourism is a large sector. Thus, car rentals are in high demand all around the world.
An increase in ride-hailing services has mostly resulted from increased concern and understanding about reduced emissions. Furthermore, ride-hailing allows for enhanced mobility without the worry of incurring the fees connected with owning a car. These services are available on websites and other online platforms, which has aided the tourism car rental market's expansion.
Major players operating in the Asia-Pacific Rickshaw Ride-Hailing Service Market include Uber Technologies Inc., Ola Cabs, Gojek Tech, Grab, and DiDi Chuxing.
