Market Research Report
India Three Wheeler Market, By Vehicle Type (Passenger Carrier & Load Carrier), By Fuel Type (ICE) (Diesel & Petrol/CNG), By Battery Capacity (Electric) (<101 Ah & >101 Ah), By Region, Forecast & Opportunities, FY2016 - FY2026
|Published by||TechSci Research||Product code||974935|
|Published||Content info||112 Pages
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|India Three Wheeler Market, By Vehicle Type (Passenger Carrier & Load Carrier), By Fuel Type (ICE) (Diesel & Petrol/CNG), By Battery Capacity (Electric) (<101 Ah & >101 Ah), By Region, Forecast & Opportunities, FY2016 - FY2026|
|Published: December 1, 2020||Content info: 112 Pages||
India three wheeler market is anticipated to grow at double digit CAGR during the forecast period, owing to growing need for last mile connectivity and three wheelers being an inexpensive & eco-friendly alternative to cabs and taxi. India ICE three wheeler market was valued USD 636.57 Million in FY2020 due to increasing population, especially across tier 1, tier 2 and tier 3 towns and cities. Easy manoeuvrability and high fuel efficiency coupled rising popularity of app-based three wheeler booking services are responsible for the increased demand of the three wheeler in India.
India three wheeler market is segmented based on vehicle type, fuel type (ICE), battery capacity (Electric) and by region. Based on vehicle type, the market can be categorized into passenger carrier & load carrier. Passenger carrier held the dominant share of the market with share of 82.48% in FY2020 and the trend is likely to continue through FY2026. The growth of the segment 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.
Based on fuel type, ICE three wheelers are segmented into diesel and petrol/CNG. Market is currently dominated by diesel three wheelers with share of 57.38% in FY2020. Due to rising environment concerns & government restrictions, petrol & alternative fuel driven three wheelers are gaining traction and the trend is likely to continue until FY2026.
Based on battery capacity, electric three wheelers are classified in less than 101 Ah & greater than 101 Ah. Electric three wheeler with battery capacity less than 101 Ah are comparatively inexpensive; therefore, the segment held the dominant share in FY2020. Although, with increasing consumer spending share of electric three wheeler with battery capacity greater than 101 Ah is forecast to increase.
Companies operating in the India three wheeler market include Bajaj Auto Ltd., Piaggio Vehicles Private Limited (India), Mahindra & Mahindra Ltd., Atul Auto Limited, TVS Motor Company Limited, Saera Electric Auto Pvt. Ltd., Lohia Auto Industries, Scooters India Limited, Clean Motion India and Kinetic Green Energy & Power Solutions Ltd. On account of growing concerns over pollution, demand for three wheeler is shifting from traditional fuels such as diesel and petrol to natural and electric. Besides, push by the government in form of subsidies under FAME II scheme is further pushing the sales of electric three wheeler.
TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of Three Wheeler manufacturers, present globally. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include vendors and manufacturers that could not be identified due to the limitations of secondary research. TechSci Research analysed product offerings, application, distribution channel and regional presence of all tractor manufacturers across Global.
TechSci Research calculated the market size of India Three Wheeler market using a bottom up approach, where data for various end-user segments were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. TechSci Research also studied various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as tractor manufacturers, distributors and dealers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion. Thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, India three wheeler market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in India Three Wheeler market
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: