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.
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
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