Summary

Market Overview: The India electric three-wheeler market size reached US$ 890 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,156 Million by 2028, exhibiting a growth rate (CAGR) of 15.8% during 2023-2028. 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 2023-2028. 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 2022? 2. What is the expected growth rate of the India electric three-wheeler market during 2023-2028? 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?

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Table of Contents

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 List of Figures Figure 1: India: Electric Three-Wheeler Market: Major Drivers and Challenges Figure 2: India: Electric Three-Wheeler Market: Value Trends (in Million US$), 2017-2022 Figure 3: India: Electric Three-Wheeler Market: Volume Trends (in ‘000 Units), 2017-2022 Figure 4: India: Electric Three-Wheeler Market: Breakup by Vehicle Type (in %), 2022 Figure 5: India: Electric Three-Wheeler Market: Breakup by Battery Type (in %), 2022 Figure 6: India: Electric Three-Wheeler Market: Breakup by Drive Type (in %), 2022 Figure 7: India: Electric Three-Wheeler Market: Breakup by Motor Type (in %), 2022 Figure 8: India: Electric Three-Wheeler Market: Breakup by Power Output (in %), 2022 Figure 9: India: Electric Three-Wheeler Market: Breakup by Voltage Capacity (in %), 2022 Figure 10: India: Electric Three-Wheeler Market: Breakup by Region (in %), 2022 Figure 11: India: Electric Three-Wheeler Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 12: India: Electric Three-Wheeler Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 13: India: Electric Three-Wheeler (Passenger Carrier) Market: Value Trends (in Million US$), 2017 & 2022 Figure 14: India: Electric Three-Wheeler (Passenger Carrier) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 15: India: Electric Three-Wheeler (Passenger Carrier) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 16: India: Electric Three-Wheeler (Passenger Carrier) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 17: India: Electric Three-Wheeler (Load Carrier) Market: Value Trends (in Million US$), 2017 & 2022 Figure 18: India: Electric Three-Wheeler (Load Carrier) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 19: India: Electric Three-Wheeler (Load Carrier) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 20: India: Electric Three-Wheeler (Load Carrier) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 21: India: Electric Three-Wheeler (Lithium Ion) Market: Value Trends (in Million US$), 2017 & 2022 Figure 22: India: Electric Three-Wheeler (Lithium Ion) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 23: India: Electric Three-Wheeler (Lithium Ion) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 24: India: Electric Three-Wheeler (Lithium Ion) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 25: India: Electric Three-Wheeler (Lead Acid) Market: Value Trends (in Million US$), 2017 & 2022 Figure 26: India: Electric Three-Wheeler (Lead Acid) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 27: India: Electric Three-Wheeler (Lead Acid) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 28: India: Electric Three-Wheeler (Lead Acid) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 29: India: Electric Three-Wheeler (Hub Type) Market: Value Trends (in Million US$), 2017 & 2022 Figure 30: India: Electric Three-Wheeler (Hub Type) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 31: India: Electric Three-Wheeler (Hub Type) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 32: India: Electric Three-Wheeler (Hub Type) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 33: India: Electric Three-Wheeler (Chassis Mounted) Market: Value Trends (in Million US$), 2017 & 2022 Figure 34: India: Electric Three-Wheeler (Chassis Mounted) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 35: India: Electric Three-Wheeler (Chassis Mounted) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 36: India: Electric Three-Wheeler (Chassis Mounted) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 37: India: Electric Three-Wheeler (BLDC Motor) Market: Value Trends (in Million US$), 2017 & 2022 Figure 38: India: Electric Three-Wheeler (BLDC Motor) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 39: India: Electric Three-Wheeler (BLDC Motor) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 40: India: Electric Three-Wheeler (BLDC Motor) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 41: India: Electric Three-Wheeler (PMSM) Market: Value Trends (in Million US$), 2017 & 2022 Figure 42: India: Electric Three-Wheeler (PMSM) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 43: India: Electric Three-Wheeler (PMSM) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 44: India: Electric Three-Wheeler (PMSM) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 45: India: Electric Three-Wheeler (<3 kW) Market: Value Trends (in Million US$), 2017 & 2022 Figure 46: India: Electric Three-Wheeler (<3 kW) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 47: India: Electric Three-Wheeler (<3 kW) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 48: India: Electric Three-Wheeler (<3 kW) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 49: India: Electric Three-Wheeler (3 – 6 kW) Market: Value Trends (in Million US$), 2017 & 2022 Figure 50: India: Electric Three-Wheeler (3 – 6 kW) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 51: India: Electric Three-Wheeler (3 – 6 kW) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 52: India: Electric Three-Wheeler (3 – 6 kW) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 53: India: Electric Three-Wheeler (7 – 10 kW) Market: Value Trends (in Million US$), 2017 & 2022 Figure 54: India: Electric Three-Wheeler (7 – 10 kW) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 55: India: Electric Three-Wheeler (7 – 10 kW) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 56: India: Electric Three-Wheeler (7 – 10 kW) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 57: India: Electric Three-Wheeler (>10 kW) Market: Value Trends (in Million US$), 2017 & 2022 Figure 58: India: Electric Three-Wheeler (>10 kW) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 59: India: Electric Three-Wheeler (>10 kW) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 60: India: Electric Three-Wheeler (>10 kW) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 61: India: Electric Three-Wheeler (48 – 59V) Market: Value Trends (in Million US$), 2017 & 2022 Figure 62: India: Electric Three-Wheeler (48 – 59V) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 63: India: Electric Three-Wheeler (48 – 59V) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 64: India: Electric Three-Wheeler (48 – 59V) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 65: India: Electric Three-Wheeler (60 – 72V) Market: Value Trends (in Million US$), 2017 & 2022 Figure 66: India: Electric Three-Wheeler (60 – 72V) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 67: India: Electric Three-Wheeler (60 – 72V) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 68: India: Electric Three-Wheeler (60 – 72V) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 69: India: Electric Three-Wheeler (73 – 96V) Market: Value Trends (in Million US$), 2017 & 2022 Figure 70: India: Electric Three-Wheeler (73 – 96V) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 71: India: Electric Three-Wheeler (73 – 96V) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 72: India: Electric Three-Wheeler (73 – 96V) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 73: India: Electric Three-Wheeler (Above 96V) Market: Value Trends (in Million US$), 2017 & 2022 Figure 74: India: Electric Three-Wheeler (Above 96V) Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 75: India: Electric Three-Wheeler (Above 96V) Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 76: India: Electric Three-Wheeler (Above 96V) Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 77: North India: Electric Three-Wheeler Market: Value Trends (in Million US$), 2017 & 2022 Figure 78: North India: Electric Three-Wheeler Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 79: North India: Electric Three-Wheeler Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 80: North India: Electric Three-Wheeler Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 81: East India: Electric Three-Wheeler Market: Value Trends (in Million US$), 2017 & 2022 Figure 82: East India: Electric Three-Wheeler Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 83: East India: Electric Three-Wheeler Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 84: East India: Electric Three-Wheeler Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 85: West and Central India: Electric Three-Wheeler Market: Value Trends (in Million US$), 2017 & 2022 Figure 86: West and Central India: Electric Three-Wheeler Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 87: West and Central India: Electric Three-Wheeler Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 88: West and Central India: Electric Three-Wheeler Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 Figure 89: South India: Electric Three-Wheeler Market: Value Trends (in Million US$), 2017 & 2022 Figure 90: South India: Electric Three-Wheeler Market Forecast: Value Trends (in Million US$), 2023-2028 Figure 91: South India: Electric Three-Wheeler Market: Volume Trends (in ‘000 Units), 2017 & 2022 Figure 92: South India: Electric Three-Wheeler Market Forecast: Volume Trends (in ‘000 Units), 2023-2028 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: Porter’s Five Forces Analysis List of Tables Table 1: India: Electric Three-Wheeler Market: Key Industry Highlights, 2022 and 2028 Table 2: India: Electric Three-Wheeler Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028 Table 3: India: Electric Three-Wheeler Market Forecast: Breakup by Vehicle Type (in ‘000 Units), 2023-2028 Table 4: India: Electric Three-Wheeler Market Forecast: Breakup by Battery Type (in Million US$), 2023-2028 Table 5: India: Electric Three-Wheeler Market Forecast: Breakup by Battery Type (in ‘000 Units), 2023-2028 Table 6: India: Electric Three-Wheeler Market Forecast: Breakup by Drive Type (in Million US$), 2023-2028 Table 7: India: Electric Three-Wheeler Market Forecast: Breakup by Drive Type (in ‘000 Units), 2023-2028 Table 8: India: Electric Three-Wheeler Market Forecast: Breakup by Motor Type (in Million US$), 2023-2028 Table 9: India: Electric Three-Wheeler Market Forecast: Breakup by Motor Type (in ‘000 Units), 2023-2028 Table 10: India: Electric Three-Wheeler Market Forecast: Breakup by Power Output (in Million US$), 2023-2028 Table 11: India: Electric Three-Wheeler Market Forecast: Breakup by Power Output (in ‘000 Units), 2023-2028 Table 12: India: Electric Three-Wheeler Market Forecast: Breakup by Voltage Capacity (in Million US$), 2023-2028 Table 13: India: Electric Three-Wheeler Market Forecast: Breakup by Voltage Capacity (in ‘000 Units), 2023-2028 Table 14: India: Electric Three-Wheeler Market Forecast: Breakup by Region (in Million US$), 2023-2028 Table 15: India: Electric Three-Wheeler Market Forecast: Breakup by Region (in ‘000 Units), 2023-2028 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