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India Electric Three-Wheeler Market Report by Vehicle Type (Passenger Carrier, Load Carrier), Battery Type (Lithium Ion, Lead Acid), Drive Type (Hub Type, Chassis Mounted), Motor Type (BLDC Motor (Brushless DC Motor), PMSM (Permanent Magnet Synchronous Motor)), Power Output (<3 kW, 3 - 6 kW, 7 - 10 kW, >10 kW), Voltage Capacity (48 - 59V, 60 - 72V, 73 - 96V, Above 96V), and Region 2024-2032
Market Report I 2024-04-08 I 122 Pages I IMARC Group
The India electric three-wheeler market size reached US$ 1,031.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,435.6 Million by 2032, exhibiting a growth rate (CAGR) of 13.9% during 2024-2032.
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 report, along with forecasts at the country and regional level from 2024-2032. 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
1. What was the size of the India electric three-wheeler market in 2023?
2. What is the expected growth rate of the India electric three-wheeler market during 2024-2032?
3. What are the key factors driving the India electric three-wheeler market?
4. What has been the impact of COVID-19 on the India electric three-wheeler market?
5. What is the breakup of the India electric three-wheeler market based on the vehicle type?
6. What is the breakup of the India electric three-wheeler market based on the battery type?
7. What are the key regions in the India electric three-wheeler market?
8. Who are the key players/companies in the India electric three-wheeler market?
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
19.3.1.1 Company Overview
19.3.1.2 Product Portfolio
19.3.2 TVS Motors
19.3.2.1 Company Overview
19.3.2.2 Product Portfolio
19.3.3 Bajaj Auto Limited
19.3.3.1 Company Overview
19.3.3.2 Product Portfolio
19.3.4 Kinetic Green
19.3.4.1 Company Overview
19.3.4.2 Product Portfolio
19.3.5 Piaggio
19.3.5.1 Company Overview
19.3.5.2 Product Portfolio
19.3.6 Lohia Auto (The Lohia Group of Industries)
19.3.6.1 Company Overview
19.3.6.2 Product Portfolio
19.3.7 Saera Electric Auto
19.3.7.1 Company Overview
19.3.7.2 Product Portfolio
19.3.8 Altigreen Propulsion Labs
19.3.8.1 Company Overview
19.3.8.2 Product Portfolio
19.3.9 Terra Motors India
19.3.9.1 Company Overview
19.3.9.2 Product Portfolio
19.3.10 Ceeon India
19.3.10.1 Company Overview
19.3.10.2 Product Portfolio
Figure 1: India: Electric Three-Wheeler Market: Major Drivers and Challenges
Figure 2: India: Electric Three-Wheeler Market: Value Trends (in Million US$), 2018-2023
Figure 3: India: Electric Three-Wheeler Market: Volume Trends (in '000 Units), 2018-2023
Figure 4: India: Electric Three-Wheeler Market: Breakup by Vehicle Type (in %), 2023
Figure 5: India: Electric Three-Wheeler Market: Breakup by Battery Type (in %), 2023
Figure 6: India: Electric Three-Wheeler Market: Breakup by Drive Type (in %), 2023
Figure 7: India: Electric Three-Wheeler Market: Breakup by Motor Type (in %), 2023
Figure 8: India: Electric Three-Wheeler Market: Breakup by Power Output (in %), 2023
Figure 9: India: Electric Three-Wheeler Market: Breakup by Voltage Capacity (in %), 2023
Figure 10: India: Electric Three-Wheeler Market: Breakup by Region (in %), 2023
Figure 11: India: Electric Three-Wheeler Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 12: India: Electric Three-Wheeler Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 13: India: Electric Three-Wheeler (Passenger Carrier) Market: Value Trends (in Million US$), 2018 & 2023
Figure 14: India: Electric Three-Wheeler (Passenger Carrier) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 15: India: Electric Three-Wheeler (Passenger Carrier) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 16: India: Electric Three-Wheeler (Passenger Carrier) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 17: India: Electric Three-Wheeler (Load Carrier) Market: Value Trends (in Million US$), 2018 & 2023
Figure 18: India: Electric Three-Wheeler (Load Carrier) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 19: India: Electric Three-Wheeler (Load Carrier) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 20: India: Electric Three-Wheeler (Load Carrier) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 21: India: Electric Three-Wheeler (Lithium Ion) Market: Value Trends (in Million US$), 2018 & 2023
Figure 22: India: Electric Three-Wheeler (Lithium Ion) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 23: India: Electric Three-Wheeler (Lithium Ion) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 24: India: Electric Three-Wheeler (Lithium Ion) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 25: India: Electric Three-Wheeler (Lead Acid) Market: Value Trends (in Million US$), 2018 & 2023
Figure 26: India: Electric Three-Wheeler (Lead Acid) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 27: India: Electric Three-Wheeler (Lead Acid) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 28: India: Electric Three-Wheeler (Lead Acid) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 29: India: Electric Three-Wheeler (Hub Type) Market: Value Trends (in Million US$), 2018 & 2023
Figure 30: India: Electric Three-Wheeler (Hub Type) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 31: India: Electric Three-Wheeler (Hub Type) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 32: India: Electric Three-Wheeler (Hub Type) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 33: India: Electric Three-Wheeler (Chassis Mounted) Market: Value Trends (in Million US$), 2018 & 2023
Figure 34: India: Electric Three-Wheeler (Chassis Mounted) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 35: India: Electric Three-Wheeler (Chassis Mounted) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 36: India: Electric Three-Wheeler (Chassis Mounted) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 37: India: Electric Three-Wheeler (BLDC Motor) Market: Value Trends (in Million US$), 2018 & 2023
Figure 38: India: Electric Three-Wheeler (BLDC Motor) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 39: India: Electric Three-Wheeler (BLDC Motor) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 40: India: Electric Three-Wheeler (BLDC Motor) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 41: India: Electric Three-Wheeler (PMSM) Market: Value Trends (in Million US$), 2018 & 2023
Figure 42: India: Electric Three-Wheeler (PMSM) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 43: India: Electric Three-Wheeler (PMSM) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 44: India: Electric Three-Wheeler (PMSM) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 45: India: Electric Three-Wheeler (<3 kW) Market: Value Trends (in Million US$), 2018 & 2023
Figure 46: India: Electric Three-Wheeler (<3 kW) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 47: India: Electric Three-Wheeler (<3 kW) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 48: India: Electric Three-Wheeler (<3 kW) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 49: India: Electric Three-Wheeler (3 - 6 kW) Market: Value Trends (in Million US$), 2018 & 2023
Figure 50: India: Electric Three-Wheeler (3 - 6 kW) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 51: India: Electric Three-Wheeler (3 - 6 kW) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 52: India: Electric Three-Wheeler (3 - 6 kW) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 53: India: Electric Three-Wheeler (7 - 10 kW) Market: Value Trends (in Million US$), 2018 & 2023
Figure 54: India: Electric Three-Wheeler (7 - 10 kW) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 55: India: Electric Three-Wheeler (7 - 10 kW) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 56: India: Electric Three-Wheeler (7 - 10 kW) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 57: India: Electric Three-Wheeler (>10 kW) Market: Value Trends (in Million US$), 2018 & 2023
Figure 58: India: Electric Three-Wheeler (>10 kW) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 59: India: Electric Three-Wheeler (>10 kW) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 60: India: Electric Three-Wheeler (>10 kW) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 61: India: Electric Three-Wheeler (48 - 59V) Market: Value Trends (in Million US$), 2018 & 2023
Figure 62: India: Electric Three-Wheeler (48 - 59V) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 63: India: Electric Three-Wheeler (48 - 59V) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 64: India: Electric Three-Wheeler (48 - 59V) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 65: India: Electric Three-Wheeler (60 - 72V) Market: Value Trends (in Million US$), 2018 & 2023
Figure 66: India: Electric Three-Wheeler (60 - 72V) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 67: India: Electric Three-Wheeler (60 - 72V) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 68: India: Electric Three-Wheeler (60 - 72V) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 69: India: Electric Three-Wheeler (73 - 96V) Market: Value Trends (in Million US$), 2018 & 2023
Figure 70: India: Electric Three-Wheeler (73 - 96V) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 71: India: Electric Three-Wheeler (73 - 96V) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 72: India: Electric Three-Wheeler (73 - 96V) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 73: India: Electric Three-Wheeler (Above 96V) Market: Value Trends (in Million US$), 2018 & 2023
Figure 74: India: Electric Three-Wheeler (Above 96V) Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 75: India: Electric Three-Wheeler (Above 96V) Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 76: India: Electric Three-Wheeler (Above 96V) Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 77: North India: Electric Three-Wheeler Market: Value Trends (in Million US$), 2018 & 2023
Figure 78: North India: Electric Three-Wheeler Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 79: North India: Electric Three-Wheeler Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 80: North India: Electric Three-Wheeler Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 81: East India: Electric Three-Wheeler Market: Value Trends (in Million US$), 2018 & 2023
Figure 82: East India: Electric Three-Wheeler Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 83: East India: Electric Three-Wheeler Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 84: East India: Electric Three-Wheeler Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 85: West and Central India: Electric Three-Wheeler Market: Value Trends (in Million US$), 2018 & 2023
Figure 86: West and Central India: Electric Three-Wheeler Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 87: West and Central India: Electric Three-Wheeler Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 88: West and Central India: Electric Three-Wheeler Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 89: South India: Electric Three-Wheeler Market: Value Trends (in Million US$), 2018 & 2023
Figure 90: South India: Electric Three-Wheeler Market Forecast: Value Trends (in Million US$), 2024-2032
Figure 91: South India: Electric Three-Wheeler Market: Volume Trends (in '000 Units), 2018 & 2023
Figure 92: South India: Electric Three-Wheeler Market Forecast: Volume Trends (in '000 Units), 2024-2032
Figure 93: India: Electric Three-Wheeler Industry: SWOT Analysis
Figure 94: India: Electric Three-Wheeler Industry: Value Chain Analysis
Figure 95: India: Electric Three-Wheeler Industry: Porters Five Forces Analysis
Table 1: India: Electric Three-Wheeler Market: Key Industry Highlights, 2023 and 2032
Table 2: India: Electric Three-Wheeler Market Forecast: Breakup by Vehicle Type (in Million US$), 2024-2032
Table 3: India: Electric Three-Wheeler Market Forecast: Breakup by Vehicle Type (in '000 Units), 2024-2032
Table 4: India: Electric Three-Wheeler Market Forecast: Breakup by Battery Type (in Million US$), 2024-2032
Table 5: India: Electric Three-Wheeler Market Forecast: Breakup by Battery Type (in '000 Units), 2024-2032
Table 6: India: Electric Three-Wheeler Market Forecast: Breakup by Drive Type (in Million US$), 2024-2032
Table 7: India: Electric Three-Wheeler Market Forecast: Breakup by Drive Type (in '000 Units), 2024-2032
Table 8: India: Electric Three-Wheeler Market Forecast: Breakup by Motor Type (in Million US$), 2024-2032
Table 9: India: Electric Three-Wheeler Market Forecast: Breakup by Motor Type (in '000 Units), 2024-2032
Table 10: India: Electric Three-Wheeler Market Forecast: Breakup by Power Output (in Million US$), 2024-2032
Table 11: India: Electric Three-Wheeler Market Forecast: Breakup by Power Output (in '000 Units), 2024-2032
Table 12: India: Electric Three-Wheeler Market Forecast: Breakup by Voltage Capacity (in Million US$), 2024-2032
Table 13: India: Electric Three-Wheeler Market Forecast: Breakup by Voltage Capacity (in '000 Units), 2024-2032
Table 14: India: Electric Three-Wheeler Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 15: India: Electric Three-Wheeler Market Forecast: Breakup by Region (in '000 Units), 2024-2032
Table 16: India: Electric Three-Wheeler Market: Key Price Indicators
Table 17: India: Electric Three-Wheeler Market: Competitive Structure
Table 18: India: Electric Three-Wheeler Market: Key Players
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