India Electric Three-Wheeler Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

India Electric Three-Wheeler Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The India electric three-wheeler market reached a value of US$ 754.5 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,874.9 Million by 2027, exhibiting a CAGR of 16.25% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Electric three-wheelers, commonly known as e-rickshaws, have emerged as a convenient and eco-friendly mode of public transportation in India. These vehicles operate with the help of battery-based electric motors that reduce additional costs related to fuel consumption. Electric three-wheelers are primarily classified into passenger carriers and load carriers. The high adoption rate of these electric vehicles depends upon their zero carbon emissions, compact design, cost-effectiveness, and noise-free travel experience. In India, the rising concerns towards high vehicular pollution levels are currently driving the demand for electric three-wheelers.

The soaring prices of several transportation fuels, such as diesel, petrol, LPG, CNG, etc., have led to a rising inclination towards electric three-wheelers in the country. Furthermore, the growing number of initiatives and awareness programs by the Indian government to reduce GHG emissions from fuel-powered vehicles is also propelling the market growth. In addition to this, the government has also introduced numerous subsidies and financial aids on the purchase of electric three-wheeler vehicles, thereby further augmenting the market. Moreover, the rising investments in the upgradation of public charging infrastructures for electric three-wheelers are also driving the product demand in the country. Apart from this, several ridesharing companies in India are getting inclined towards electric three-wheelers for providing noise-free and ecologically-sustainable rides to their customers. Moreover, electric three-wheelers are increasingly being adopted by various courier companies for providing last-mile postal services and reducing carbon emissions at the same time. Numerous technological advancements have led to the integration of three-wheelers with GPS navigation, remote sensors, anti-theft locking systems, etc., which are further expected to drive the market growth in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India electric three-wheeler market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on vehicle type, battery type, drive type, motor type, power output and voltage capacity.

Breakup by Vehicle Type:

Passenger Carrier
Load Carrier

Breakup by Battery Type:

Lithium Ion
Lead Acid

Breakup by Drive Type:

Hub Type
Chassis Mounted

Breakup by Motor Type:

BLDC Motor (Brushless DC Motor)
PMSM (Permanent Magnet Synchronous Motor)

Breakup by Power Output:

<3 kW
3 – 6 kW
7 – 10 kW
>10 kW

Breakup by Voltage Capacity:

48 – 59V
60 – 72V
73 – 96V
Above 96V

Breakup by Region:

North India
East India
West and Central India
South India

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Mahindra Electric Mobility Limited, 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.
Key Questions Answered in This Report:
How has the India electric three-wheeler market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the India electric three-wheeler market?
What are the key regional markets?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the battery type?
What is the breakup of the market based on the drive type?
What is the breakup of the market based on the motor type?
What is the breakup of the market based on the power output?
What is the breakup of the market based on the voltage capacity?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What are the price trends of the India electric three-wheeler market?
What is the structure of the India electric three-wheeler market and who are the key players?
What is the degree of competition in the industry?

1 Preface
2 Research Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 India Electric Three-Wheeler Market
5.1 Market Overview
5.2 Market Performance
5.2.1 Value Trends
5.2.2 Volume Trends
5.3 Impact of COVID-19
5.4 Market Forecast
5.4.1 Value Trends
5.4.2 Volume Trends
6 Market Breakup by Vehicle Type
6.1 Passenger Carrier
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Load Carrier
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Battery Type
7.1 Lithium Ion
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Lead Acid
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Drive Type
8.1 Hub Type
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Chassis Mounted
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Motor Type
9.1 BLDC Motor (Brushless DC Motor)
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 PMSM (Permanent Magnet Synchronous Motor)
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Power Output
10.1 <3 kW
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 3 – 6 kW
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 7 – 10 kW
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 >10 kW
10.4.1 Market Trends
10.4.2 Market Forecast
11 Market Breakup by Voltage Capacity
11.1 48 – 59V
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 60 – 72V
11.2.1 Market Trends
11.2.2 Market Forecast
11.3 73 – 96V
11.3.1 Market Trends
11.3.2 Market Forecast
11.4 Above 96V
11.4.1 Market Trends
11.4.2 Market Forecast
12 Market Breakup by Region
12.1 North India
12.1.1 Market Trends
12.1.2 Market Forecast
12.2 East India
12.2.1 Market Trends
12.2.2 Market Forecast
12.3 West and Central India
12.3.1 Market Trends
12.3.2 Market Forecast
12.4 South India
12.4.1 Market Trends
12.4.2 Market Forecast
13 SWOT Analysis
13.1 Overview
13.2 Strengths
13.3 Weaknesses
13.4 Opportunities
13.5 Threats
14 Value Chain Analysis
15 Porter’s Five Forces Analysis
15.1 Overview
15.2 Bargaining Power of Buyers
15.3 Bargaining Power of Suppliers
15.4 Degree of Rivalry
15.5 Threat of New Entrants
15.6 Threat of Substitutes
16 Price Analysis
17 Government Regulations
18 Strategic Recommendations
19 Key Players & Company Profile Analysis
19.1 Market Structure
19.2 Key Players
19.3 Profiles of Key Players
19.3.1 Mahindra Electric Mobility Limited Company Overview Product Portfolio
19.3.2 TVS Motors Company Overview Product Portfolio
19.3.3 Bajaj Auto Limited Company Overview Product Portfolio
19.3.4 Kinetic Green Company Overview Product Portfolio
19.3.5 Piaggio Company Overview Product Portfolio
19.3.6 Lohia Auto (The Lohia Group of Industries) Company Overview Product Portfolio
19.3.7 Saera Electric Auto Company Overview Product Portfolio
19.3.8 Altigreen Propulsion Labs Company Overview Product Portfolio
19.3.9 Terra Motors India Company Overview Product Portfolio
19.3.10 Ceeon India Company Overview Product Portfolio

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