Dublin, Dec. 24, 2020 (GLOBE NEWSWIRE) -- The "India Three Wheeler Market, by Vehicle Type (Passenger Carrier & Load Carrier), by Fuel Type (ICE) (Diesel & Petrol/CNG), by Battery Capacity (Electric) (&lessThan;101 Ah & >101 Ah), by Region, Forecast & Opportunities, FY2016 - FY2027" report has been added to ResearchAndMarkets.com's offering.
The Indian 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.
The Indian 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 Indian 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.
Years considered for this report:
Historical Period: FY2016-FY2019
Base Year: FY2020
Estimated Year: FY'2021
Forecast Period: FY2022-FY2026
Key Topics Covered:
1. Product of Interest
2. Research Methodology
3. Impact of COVID-19 on India Three Wheeler Market
4. Voice of Customer
5. Executive Summary
6. India ICE Three Wheeler Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type (Passenger Carrier & Load Carrier)
6.2.2. By Fuel Type (Diesel & Petrol/CNG)
6.2.3. By Company
6.2.4. By Region (North, South, East, West)
6.2.5. Model Wise Sales
6.2.6. List of Prominent Distributors/Dealers in Different Regions of India
7. India ICE Passenger Carrier Three Wheeler Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Seating Capacity (3+1D & 6+1D)
8. India ICE Load Carrier Three Wheeler Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Seating Capacity (3+1D & 6+1D)
9. India Electric Three Wheeler Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Vehicle Type (Passenger Carrier & Load Carrier)
9.2.2. By Battery Capacity (&lessThan; 101Ah and >101Ah)
9.2.3. By Company
9.2.4. By Region
10. Import & Export Analysis
11. Market Dynamics
12. Market Trends & Developments
13. SWOT Analysis
14. Cost Benefit Analysis Of I.C.E vs Electric Three Wheeler
15. Policy & Regulatory Landscape
16. India Economic Profile
17. Competitive Landscape
17.1. Competition Outlook
17.2. Company Profiles
17.2.1. Bajaj Auto Ltd.
17.2.2. Piaggio Vehicles Private Limited (India)
17.2.3. Mahindra & Mahindra Ltd.
17.2.4. Atul Auto Limited
17.2.5. TVS Motor Company Limited
17.2.6. Saera Electric Auto Pvt. Ltd.
17.2.7. Lohia Auto Industries
17.2.8. Scooters India Limited
17.2.9. Clean Motion India
17.2.10. Kinetic Green Energy & Power Solutions Ltd.
18. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/fl31d5
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