India Electric Three-Wheeler Market to Reach US$ 3,435.6 Million by 2032, Impelled by Rising Environmental Concerns

June 17, 2022 | Automotive Industry

According to the latest report by IMARC Group, titled “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," the India electric three-wheeler market reached a value of US$ 1,031.0 Million in 2023. Electric three-wheelers, or e-rickshaws, are eco-friendly modes of transportation that operate on high torque electric motors and long-lasting, durable batteries. They consist of a harness, controller, motor, batteries, and throttle. Electric three-wheelers are widely used for commuting passengers within the city and transporting goods and services from one place to another. They are powered by Li-ion or lead-acid batteries that help improve urban air quality by reducing total greenhouse gas (GHG) emissions. As compared to fuel-power vehicles, electric three-wheelers have a more compact design, are cost-effective, and offer a noise-free travel experience.

India Electric Three-Wheeler Market Trends:

The rising environmental concerns have resulted in an increasing consumer inclination towards sustainable modes of transportation, such as electric three-wheelers, over conventional vehicles, which is favoring the market growth in India. Furthermore, the initiatives undertaken by the Government of India (GoI) to control pollution and reduce greenhouse gas (GHG) emissions from fuel-powered vehicles are supporting the market growth. In addition to this, the government is organizing various awareness programs and offering subsidies and financial aid for the purchase of electric vehicles (EVs), which is propelling the market growth. Moreover, the rising popularity of shared mobility due to inflating transportation fuel prices that also assist in reducing traffic congestion and commuting expenses is fueling the market growth. Other factors, including the extensive research and development (R&D) activities and the rising investments in the upgradation of public charging infrastructures for electric three-wheelers, are anticipated to drive the market toward growth across the country. On account of the aforementioned factors, the market value is expected to reach US$ 3,435.6 Million by 2032, exhibiting a CAGR of 13.9% during 2024-2032.

Market Summary:

  • On the basis of the vehicle type, the market has been bifurcated into passenger and load carriers.
  • Based on the battery type, the market has been divided into lithium ion and lead acid batteries.
  • On the basis of the drive type, the market has been bifurcated into hub type and chassis mounted.
  • Based on the motor type, the market has been segmented into BLDC motor (brushless DC motor) and PMSM (permanent magnet synchronous motor).
  • On the basis of the power output, the market has been classified into <3 kW, 3 – 6 kW, 7 – 10 kW, and >10 kW.
  • Based on the voltage capacity, the market has been divided into 48 – 59V, 60 – 72V, 73 – 96V, and above 96V.
  • Based on the region, the market has been categorized into North, East, West and Central, and South India.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million, '000 Units
Segment Coverage Vehicle Type, Battery Type, Drive Type, Motor Type, Power Output, Voltage Capacity, Region
Region Covered  North India, East India, West and Central India, South India
Companies Covered 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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1 631 791 1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
India Electric Three-Wheeler Market to Reach US$ 3,435.6 Million by 2032, Impelled by Rising Environmental Concerns
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-714-6104


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More