India Electric Three Wheeler Market Outlook to 2025

The report titled “India Electric Three Wheeler Market Outlook to 2025- By Wheeler Type (Passenger, Goods, Personal), By Vehicle Category (Transport and Non-Transport), Registration by Region (North, East, West, South) and Registration by State” provides a comprehensive analysis of adoption of electric three wheeler in the India. The report covers various aspects including the electric 3 wheeler registrations (in units), market segmentation by wheeler type (passenger, goods, personal), by vehicle category (transport and non-transport), registration by region (north, east, west and south) and registration by states. The report also covers 3 wheeler industry dynamics with focus of registration volume, vehicle type, fuel type, market share, registration by region etc.) in India. Moreover, the report also covers the overall competitive landscape and growth drivers and trends and government role and regulations. The report concludes with market projection for future, Covid-19 impact, analysts’ take on the future and case studies highlighting the major opportunities.

India Electric 3 Wheeler Market Overview and Size

The continuous technological advancement, along with the development of innovative solutions to complement the reduction of harmful greenhouse gas emission, has significantly pushed the 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. The growing concern over air pollution is pushing the automobile industry to reduce its carbon footprint, bolstering the need for electric three-wheelers in the market. Additionally, the market is primarily driven by strict emission norms/regulations, government incentives, and increasing environmental awareness. Currently, the e-3W market is dominated by e-rickshaws as compared to e-autos.

India Electric 3 Wheeler Market Segmentations

By Wheeler Type: Passenger vehicles held the dominant share of the market in FY2020 and the trend is likely to continue through the future. Goods carriers are mainly small vans or trucks that are used for carrying small-scale industrial loads from one place to another. The growth of passenger vehicle is due to the use of passenger carrier for the movement of people as the country has poor road infrastructure and three wheelers are prominently used for last mile connectivity.

By Vehicle Category: Electric three wheelers in India are mainly transport vehicles i.e. they are mainly goods or passenger carrier. Non-transport vehicles are only those 3 wheelers that are used for personal purpose.  

Registration by Region & State: Northern & Eastern regions accounts for majority of the electric 3 wheeler registrations in India. These regions are the fastest-growing market as many automotive industries are setting up their manufacturing units in this region. 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. Government of Uttar Pradesh, Delhi, Bihar and West Bengal has taken several initiatives to promote the usage for Electric 3-wheeler.

Competitive Landscape of 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 50% 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 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 and few others. However, the 3 wheelers market is highly concentrated as the majority of the market share is composed by the top 2-3 players. Production Capacity, Pricing, Battery Type, Range, Speed, Technology, Maintenance Cost, Export Volume are the key competing parameters for the e-3 wheeler manufactures.

India Electric Three Wheeler Market Future Outlook and Projections

Electric three vehicles will account for 65-75% of new three-wheeler (3W) sales by 2030. 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. Besides, push by the government in form of subsidies under FAME II scheme is expected to further push the sales of electric 3-wheeler. Numerous technological advancements such as GPS navigation, remote sensors, anti-theft locking systems, etc., are further expected to drive the market growth in the coming years. E-3Ws are economically competitive especially with higher vehicular utilization; this is contingent on a well-distributed charging infrastructure network that reduces dead kilometers, and innovative systems such as battery swapping which cuts down the time spent in battery charging. At the early phase of transition, when the support infrastructure hasn’t matured enough, financial incentives as well as non-financial incentives can help forge the transition to e-3Ws. Policy instruments such as scrappage incentives will further aid in accelerating the adoption of e-3Ws.

Key Topics Covered in the Report

• India E - 3 Wheeler Registration Volume
• 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