According to the latest report by IMARC Group, titled “Indian Electric Three-wheeler Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, the electric three-wheeler market in India 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.
An electric three-wheeler, also known as an e-rickshaw, is a convenient and eco-friendly mode of public transportation. It is widely used for transporting passengers or goods over short-to-medium distances. It operates with the help of battery-based electric motors, which helps in reducing extra costs related to fuel consumption. In recent years, electric three-wheelers have gained traction in India due to their zero carbon emissions, noise-free travel experience, compact design and cost-effectiveness.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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India Electric Three-wheeler Market Trends:
The India electric three-wheeler market is primarily driven by the growing concerns regarding greenhouse gas emissions and rising fuel prices. Additionally, the introduction of various subsidy schemes by regional governments on purchasing e-rickshaws is escalating the product demand.
Furthermore, these vehicles are increasingly being adopted by numerous ridesharing companies for offering ecologically sustainable rides to their customers and by courier companies for last-mile delivery services. Other factors, including the integration of electric three-wheelers with advanced technologies, rapid urbanization and increasing investments in the up-gradation of public charging infrastructures, are anticipated to positively influence the market growth.
India Electric Three-wheeler Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
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
- Ceeon India
Market Breakup by Power Output:
- <3 kW
- 3 – 6 kW
- 7 – 10 kW
- >10 kW
Market Breakup by Battery Type:
- Lithium-Ion
- Lead Acid
Market Breakup by Drive Type:
- Hub Type
- Chassis Mounted
Market Breakup by Motor Type:
- BLDC Motor (Brushless DC Motor)
- PMSM (Permanent Magnet Synchronous Motor)
Market Breakup by Voltage Capacity:
- 48 – 59V
- 60 – 72V
- 73 – 96V
- Above 96V
Market Breakup by Vehicle Type:
- Passenger Carrier
- Load Carrier
Market Breakup by Region:
- North India
- East India
- West and Central India
- South India
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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