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
Related Reports:-
India
Commercial Two Wheeler Market Outlook to 2025: Driven by Changing Shopping
Habits of Consumers and Rise in Demand from Tier II & Tier III cities
India
Rental Two Wheeler Market Outlook to 2025 - Driven by Introduction of Electric
Vehicles and Adoption of Dockless System in Vehicles
India
Used Two Wheeler Market Outlook to 2025- Driven by Increase in Workforce
Migration and Aversion towards Using Public Transportation
Contact
Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249