India Electric Three Wheeler Market, India Electric Three Wheeler Industry, Market Revenue: Ken Research

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How Is India Electric Three Wheeler Market Positioned?

The continuous technological advancement, along with the development of innovative solutions to complement the reduction of harmful greenhouse gas emission, has significantly pushed the electric three-wheeler market to look into future modes of propulsion. Additionally, three wheelers require low maintenance & have lower cost of ownership, contributing to the increased share of the three wheeler market in India. Moreover, latest electric three-wheeler vehicles contain plug-in charging options, while earlier, the battery of the three-wheel was charged after removing it from the vehicle. Currently, the e-3W market is dominated by e-rickshaws as compared to e-autos.

Market: The electric three wheeler market has seen significant growth in the last few years, recording a CAGR of ~% during 2015-2020 primarily due to low ownership cost, increased affordability for commuters, and higher speed compared to traditional 3 wheelers.

India currently has 21 cities in the list of world’s top 30 most polluted cities.

Apart from economic perspective, electric three wheelers also have a positive environmental benefit with zero carbon emissions. These vehicles are ideal for Indian cities as they are crowded and electric bus is not a viable solution for same.

India Three Wheeler Market

By Wheeler Type: Passenger segment makes up majority share of the three wheeler market of the country, followed by the load goods carrier segment. Share for passenger carrier segment is high as three wheelers are considered to be an economical alternative for commuting as compared to the four wheeled taxis, two wheel taxi & cabs. In addition to the same, various small and medium industries use three wheelers as a vehicle for intercity transportation of goods. Consequently, share of good carrier three wheelers is also increasing.

By Fuel Type: Market is currently dominated by diesel three wheelers because of their economic fuel consumption but due to rising environment concerns & government restrictions, CNG & alternative fuel driven three wheelers are expected to witness growth in the forthcoming years. Besides this, the soaring fuel prices of conventional fuels, such as petrol and diesel, have led to a rising inclination towards CNG/LPG-driven three-wheelers. Moreover, the growing environmental concerns towards the increasing GHG emissions from gasoline- or diesel-powered three-wheelers have led to the emergence of their eco-friendly alternatives, including e-rickshaws.

India Electric Three Wheeler Market Size and Segmentation

By Wheeler Type: The electric three wheelers industry has been primarily dominated by the passenger segment as they are considered to be a cheap option for last mile commute. Goods carriers are mainly small vans or trucks that are used for carrying small-scale industrial loads from one place to another. Electric three wheelers have low preference as a personal vehicle as Indian individuals have more inclination towards for two or four wheelers for personal use.

india-electric-3w-market

By Vehicle Category: Electric three wheelers in India are mainly transport vehicles i.e. they are mainly goods or passenger carrier. This is mainly due to their low running cost per kilometer as compared to tradition vehicles. Non-transport vehicles are only those 3 wheelers that are used for personal purpose and account for a minor share of the market.

Registration by Region & State:

North East has the highest share of electric three wheelers due to the presence of manufacturing units in this region. It is followed by UP, Bihar and Karnataka. Apart from the measures at the national level, several state governments are also committed to promoting electric three-wheelers in their states to drive market growth.

Competitive Scenario In India Electric Three Wheeler Market

The competition in the electric 3 wheeler market in India is highly fragmented where leading 10-12 manufacturers hold less than ~% share in the market. The major e-3 wheelers include YC Electric Vehicle, Mahindra & Mahindra Ltd, Saera Electric Auto Pvt Ltd, Mahindra Reva Electric Vehicles and others. The market is highly unorganized and comprises of small assemblers who source part from China. These players compete on parameters Product Portfolio, Distribution Network, Pricing, Discounts, and Geographical Location, value Added Services, Collaborations & Partnerships and After Sales Service.

India Electric Three Wheeler market Future Outlook and projections

The India Electric Three Wheeler Industry is expected to increase at a CAGR of ~% during 2020 to 2025 basis volume. The passenger segment will continue to dominate the India electric three wheeler market with ~% market share by 2025. The government has launched various programs in order to develop the infrastructure of the country hence facilitating the manufacture of electric vehicles in the future years. INR ~ Crores has been allocated for building charging stations. Rising fuel prices in the country will accelerate the demand for electric commute and transportation facility. The forecast period is also expected to witness entry of more foreign and domestic players in the industry.

Key Segments Covered:-

By Wheeler Type

Passenger

Goods

Personal

By Vehicle Category

Transport

Non-Transport

Registration by Region

North

East

West

South

Registration by State:-

3 Wheeler Makers Covered:-

Bajaj Auto Ltd

Piaggio Vehicles Pvt Ltd

Atul Auto Ltd

Mahindra & Mahindra Limited

Yc Electric Vehicle

Tvs Motor Company Ltd

J. S. Auto (P) Ltd

Continental Engines Pvt Ltd

Saera Electric Auto Pvt Ltd

Mahindra Reva Electric Vehicles Pvt Ltd

Vani Electric Vehicles Pvt Ltd

Champion Poly Plast

Terra Motors India Pvt Ltd

Dilli Electric Auto Pvt Ltd

G.K. Rickshaw

Best Way Agencies Pvt Ltd

Thukral Electric Bikes Pvt Ltd

Scooters India Ltd

Mini Metro Ev L.L.P

Unique International

Grd Motors

Pubang Etron Electric Motor Pvt Ltd

Energy Electric Vehicles

Zeniak Innovation India Ltd

Allfine Industries Pvt Ltd

Delta Autocorp Llp

3 Wheeler Electric Makers Covered:-

YC Electric Vehicle

Mahindra & Mahindra Limited

Saera Electric Auto Pvt Ltd

Mahindra Reva Electric Vehicles Pvt Ltd

Vani Electric Vehicles Pvt Ltd

Champion Poly Plast

Terra Motors India Pvt Ltd

Dilli Electric Auto Pvt Ltd

G.K. Rickshaw

Best Way Agencies Pvt Ltd

Thukral Electric Bikes Pvt Ltd

Mini Metro Ev L.L.P

Unique International

Grd Motors

Pubang Etron Electric Motor Pvt Ltd

Energy Electric Vehicles

Zeniak Innovation India Ltd

J. S. Auto (P) Ltd

Allfine Industries Pvt Ltd

Delta Autocorp Llp

Key Target Audience:-

E-Three Wheeler OEMs

EV Charger Manufacturers

EV Battery Manufacturers

Consultancy Companies

Industry Associations

Regulatory Bodies

Time Period Captured in the Report:-

Historical Period – 2016-2020

Forecast Period – 2020-2025

Key Topics Covered in the Report:-

India E – 3 Wheeler Registration Volumes

India E – 3 Wheeler Type (in Units)

India E – 3 Wheeler Vehicle Category (in Units)

India E – 3 Wheeler Vehicle Registration by Region

India E – 3 Wheeler Vehicle Registration by State

India E – 3 Wheeler Maker Market Share

India 3 Wheeler Registration Volume

India 3 Wheeler Type (in Units)

India 3 Wheeler Vehicle Category (in Units)

India 3 Wheeler Vehicle Registration by Region

India 3 Wheeler Vehicle Registration by State

India 3 Wheeler Maker Market Share

Future Market Size and Segmentations, 2020-2025F

For More Information on the research report, refer to below link:-

India Electric Three Wheeler Market

Related Reports:-

India Commercial Two Wheeler Market Outlook to 2025: Driven by Changing Shopping Habits of Consumers and Rise in Demand from Tier II & Tier III cities

India Rental Two Wheeler Market Outlook to 2025 – Driven by Introduction of Electric Vehicles and Adoption of Dockless System in Vehicles

India Used Two Wheeler Market Outlook to 2025- Driven by Increase in Workforce Migration and Aversion towards Using Public Transportation

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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