India Electric Three Wheeler Market Growth, Size, Trends, Demand, Revenue and Future Outlook
India Electric Three-Wheeler Market Size- By Vehicle Type, By Battery Type, By Drive Type, By Motor Type, By Power Output, By Voltage Capacity- Regional Outlook, Competitive Strategies, and Segment Forecast to 2033
| Published: Jan-2024 | Report ID: AMIN2429 | Pages: 1 - 103 | Formats*: |
| Category : Automotive & Transportation | |||
India Electric Three-Wheeler Market Introduction and Overview
According to SPER Market Research, the India Electric Three-Wheeler Market is estimated to reach USD 1.87 billion by 2033 with a CAGR of 16.01%.
The report includes an in-depth analysis of the India Electric Three-Wheeler Market, including market size and trends, product mix, applications, and supplier analysis. In India, Electric three-wheelers, or "e-rickshaws," have become a popular and environmentally responsible form of public transportation. Fuel-related expenses are minimized as a result of the battery-powered electric motors that power these cars. The two main categories of electric three-wheelers are cargo haulers and passenger carriers. These electric cars' zero carbon emissions, small size, affordability, and quiet ride are what contribute to their high acceptance rate. In India, the need for electric three-wheelers is now being driven by growing worries over high levels of traffic pollution. The nation's preference for electric three-wheelers is growing as a result of the skyrocketing costs of various transportation fuels, including gasoline, diesel, LPG, CNG, and so on. The Indian government's increasing number of efforts and awareness campaigns to lower greenhouse gas emissions from fuel-powered cars are also driving the market's expansion.
- December 2019 - The Indian government unveiled phase II of the FAME India initiative in December 2019, with an emphasis on encouraging the electrification of shared and public transportation. The scheme also seeks to provide incentives for e-buses and e-three-wheelers.
Market Opportunities and Challenges
The market is mostly driven by regulations imposed by the government to limit pollution, rising public awareness of the negative impacts of emissions from petrol and diesel cars, and a rise in the popularity of electric vehicles. When compared to traditional three-wheelers, the average cost of operation and maintenance for electric three-wheelers is significantly lower.
Nevertheless, the producers of three-wheeled vehicles are concerned about the short range of distance covered and the large battery pack. A fully charged battery allows an electric three-wheeler to go 125–130 km, whereas a conventional vehicle can travel 200–220 km on a full tank of petrol. Also, the burgeoning challenge of insufficient charging infrastructure for electric vehicles hampers the widespread adoption of clean transportation, leaving eco-conscious drivers stranded without convenient charging options.
Market Competitive Landscape
TVS Motors, Kinetic Green, Piaggio, Saera Electric Auto, Altigreen Propulsion Labs, Terra Motors India, Bajaj Auto Limited, Lohia Auto (The Lohia Group of Industries), and Ceeon India are some of the major players in the industry that have been studied in terms of competition.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Vehicle Type, By Battery Type, By Drive Type, By Motor Type, By Power Output, By Voltage Capacity |
| Regions covered | North India, East India, West and Central India, South India |
| Companies Covered | TVS Motors, Bajaj Auto Limited, Kinetic Green, Piaggio, Lohia Auto (The Lohia Group of Industries), Saera Electric Auto, Altigreen Propulsion Labs, Terra Motors India, and Ceeon India |
COVID-19 Impact on India Electric Three-Wheeler Market
The Covid-19 epidemic presented serious difficulties for Indian producers of electric three-wheeler vehicles. The supply chain was severely disrupted by temporarily shuttered manufacturing facilities, and the industry's expansion was severely hampered by the raw material scarcity. The semiconductor crisis has also hurt the manufacture of these cars in India. In India, sales of electric four-wheelers (e-4W) reached about 4600 units in 2020. The rise was less than projected even with the expected growth from the FAME II incentives offered by the Indian government on the purchase of new electric vehicles because of the lockdowns caused by COVID-19 and the decreased industrial output.
Key Target Audience:
- Commercial Goods Transportation Providers
- Passenger Transportation Services
- Government and Municipal Authorities
- Eco-Conscious consumers
- Fleet owners and suppliers
- Charging infrastructure providers
Our in-depth analysis of the India Electric Three-Wheeler Market includes the following segments:
| By Vehicle Type: |
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| By Battery Type: |
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| By Drive Type: |
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| By Motor Type: |
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| By Voltage Capacity: |
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Key Topics Covered in the Report:
- India Electric Three-Wheeler Market Size (FY’2023-FY’2033)
- Overview of the India Electric Three-Wheeler Market
- Segmentation of India Electric Three-Wheeler Market By Vehicle Type (Load Carrier and Passenger Carrier)
- Segmentation of India Electric Three-Wheeler Market By Battery Type (Lithium Ion, Lead acid, and others)
- Segmentation of India Electric Three-Wheeler Market By Drive Type (Hub Type, Chassis Mounted)
- Segmentation of India Electric Three-Wheeler Market By Motor Type (BLDC Motor, PMSM)
- Segmentation of India Electric Three-Wheeler Market By Power Output (<3kW, 3-6 kW, 7-10 kW, >10kW)
- Segmentation of India Electric Three-Wheeler Market By Voltage Capacity (48-59V, 60-72V, 73-96V, Above 96V)
- Statistical Snap of India Electric Three-Wheeler Market
- Expansion Analysis of India Electric Three-Wheeler Market
- Problems and Obstacles in India Electric Three-Wheeler Market
- Competitive Landscape in the India Electric Three-Wheeler Market
- Impact of COVID-19 and Demonetization on India Electric Three-Wheeler Market
- Details on Current Investment in India Electric Three-Wheeler Market
- Competitive Analysis of India Electric Three-Wheeler Market
- Prominent Players in the India Electric Three-Wheeler Market
- SWOT Analysis of India Electric Three-Wheeler Market
- India Electric Three-Wheeler Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges Analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the India Electric Three-Wheeler Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. India Electric Three-Wheeler Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in India Electric Three-Wheeler Market
7. India Electric Three-Wheeler Market, By Vehicle Type (USD Million)
7.1. India Electric Three-Wheeler Market Value Share and Forecast, By Vehicle Type, 2023-20337.2. Load Carrier7.3. Passenger Carrier
8. India Electric Three-Wheeler Market, By Battery Type (USD Million)
8.1. India Electric Three-Wheeler Market Value Share and Forecast, By Battery Type 2023-20338.2. Lead Acid8.3. Lithium Ion
9. India Electric Three-Wheeler Market, By Drive Type (USD Million)
9.1. India Electric Three-Wheeler Market Value Share and Forecast, By Drive Type, 2023-20339.2. Hub Type9.3. Chassis Mounted
10. India Electric Three-Wheeler Market, By Motor Type (USD Million)
10.1. India Electric Three-Wheeler Market Value Share and Forecast, By Motor Type, 2023-203310.2. BLDC Motor10.3. PMSM
11. India Electric Three-Wheeler Market, By Voltage Capacity (USD Million)
11.1. India Electric Three-Wheeler Market Value Share and Forecast, By Voltage Capacity, 2023-203311.2. 48-59V11.3. 60-7211.4. 73-96V11.5. Above 96v
12. India Electric Three-Wheeler Market, By Power Output (USD Million)
12.1. India Electric Three-Wheeler Market Value Share and Forecast, By Power Output, 2023-203312.2. <3kW12.3. 3-6 kW12.4. 7-10 kW12.5. >10kW
13. India Electric Three-Wheeler Market Forecast, 2019-2033 (USD Million)
13.1. India Electric Three-Wheeler Market Size and Market Share
14. India Electric Three-Wheeler Market, By Vehicle Type 2019-2033 (USD Million)
14.1. India Electric Three-Wheeler Market Size and Market Share By Vehicle Type (2019-2026)14.2. India Electric Three-Wheeler Market Size and Market Share By Vehicle Type (2027-2033)
15. India Electric Three-Wheeler Market, By Battery Type, 2019-2033 (USD Million)
15.1. India Electric Three-Wheeler Market Size and Market Share By Battery Type (2019-2026)15.2. India Electric Three-Wheeler Market Size and Market Share By Battery Type (2027-2033)
16. India Electric Three-Wheeler Market, By Drive Type, 2019-2033 (USD Million)
16.1. India Electric Three-Wheeler Market Size and Market Share By Drive Type (2019-2026)16.2. India Electric Three-Wheeler Market Size and Market Share By Drive Type (2027-2033)
17. India Electric Three-Wheeler Market, By Motor Type, 2019-2033 (USD Million)
17.1. India Electric Three-Wheeler Market Size and Market Share By Motor Type (2019-2026)17.2. India Electric Three-Wheeler Market Size and Market Share By Motor Type (2027-2033)
18. India Electric Three-Wheeler Market, By Power Output, 2019-2033 (USD Million)
18.1. India Electric Three-Wheeler Market Size and Market Share By Power Output (2019-2026)18.2. India Electric Three-Wheeler Market Size and Market Share By Power Output (2027-2033)
19. India Electric Three-Wheeler Market, By Voltage Capacity, 2019-2033 (USD Million)
19.1. India Electric Three-Wheeler Market Size and Market Share By Voltage Capacity, (2019-2026)19.2. India Electric Three-Wheeler Market Size and Market Share By Voltage Capacity, (2027-2033)
20. India Electric Three-Wheeler Market, By Region, 2019-2033 (USD Million)
20.1. India Electric Three-Wheeler Market Size and Market Share By Region (2019-2026)20.2. India Electric Three-Wheeler Market Size and Market Share By Region (2027-2033)20.3. India20.4. North India20.5. East India20.6. West and Central India20.7. South India
21. Company Profile
21.1. Altigreen Propulsion Labs21.1.1. Company details21.1.2. Financial outlook21.1.3. Product summary21.1.4. Recent developments21.2. Bajaj Auto Limited21.2.1. Company details21.2.2. Financial outlook21.2.3. Product summary21.2.4. Recent developments21.3. Ceeon India21.3.1. Company details21.3.2. Financial outlook21.3.3. Product summary21.3.4. Recent developments21.4. Kinetic Green21.4.1. Company details21.4.2. Financial outlook21.4.3. Product summary21.4.4. Recent developments21.5. Lohia Auto (The Lohia Group of Industries)21.5.1. Company details21.5.2. Financial outlook21.5.3. Product summary21.5.4. Recent developments21.6. Mahindra Electric Mobility Limited21.6.1. Company details21.6.2. Financial outlook21.6.3. Product summary21.6.4. Recent developments21.7. Piaggio21.7.1. Company details21.7.2. Financial outlook21.7.3. Product summary21.7.4. Recent developments21.8. Saera Electric Auto21.8.1. Company details21.8.2. Financial outlook21.8.3. Product summary21.8.4. Recent developments21.9. Terra Motors India21.9.1. Company details21.9.2. Financial outlook21.9.3. Product summary21.9.4. Recent developments21.10. TVS Motors21.10.1. Company details21.10.2. Financial outlook21.10.3. Product summary21.10.4. Recent developments21.11. Others
22. List of Abbreviations
23. Reference Links
24. Conclusion
25. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
India Electric Three-wheelers Market is projected to reach USD 1.87 Billion by 2033, growing at a CAGR of 16.01% during the forecast period.
India Electric Three-wheelers Market grew in market size from 2023. The Market is expected to reach USD 1.87 Billion by 2033, at a CAGR of 16.01% during the forecast period.
India Electric Three-wheelers Market CAGR of 16.01% during the forecast period.
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India Electric Three-wheelers Market size is USD 1.87 Billion from 2023 to 2033.
India Electric Three-wheelers Market Segment is Covered By Product Type, By Application
The Asia-Pacific region is anticipated to have the highest market share in India Electric Three-wheelers Market.
The key players in the market include Companies Covered TVS Motors, Bajaj Auto Limited, Kinetic Green, Piaggio, Lohia Auto (The Lohia Group of Industries), Saera Electric Auto, Altigreen Propulsion Labs, Terra Motors India, and Ceeon India
In India, the need for electric three-wheelers is now being driven by growing worries over high levels of traffic pollution. The nation's preference for electric three-wheelers is growing as a result of the skyrocketing costs of various transportation fuels, including gasoline, diesel, LPG, CNG, and so on.
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