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The India electric three-wheeler market reached a value of US$ 754.5 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,874.9 Million by 2027, exhibiting a CAGR of 16.25% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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.
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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.
IMARC Group provides an analysis of the key trends in each sub-segment of the India electric three-wheeler market, along with forecasts at the country and regional level from 2022-2027. 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:
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Breakup by Battery Type:
Breakup by Drive Type:
Breakup by Motor Type:
Breakup by Power Output:
Breakup by Voltage Capacity:
Breakup by Region:
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.
|Base Year of the Analysis||2021|
|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|
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The India electric three-wheeler market was valued at US$ 754.5 Million in 2021.
We expect the India electric three-wheeler market to exhibit a CAGR of 16.25% during 2022-2027.
The increasing utilization of electric three-wheelers as convenient and eco-friendly mode of public
transportation and to provide a noise-free travel experience is primarily driving the India electric three-
In India, the sudden outbreak of the COVID-19 pandemic had led to the growing consumer inclination
towards personal vehicles, to combat the risk of the coronavirus infection, thereby limiting the demand
for public transports, such as electric three-wheelers.
Based on the vehicle type, the India electric three-wheeler market has been segmented into passenger
carrier and load carrier, where passenger carrier currently holds the majority of the total market share.
Based on the battery type, the India electric three-wheeler market can be divided into lithium-ion and
lead acid. Currently, lithium-ion battery exhibits a clear dominance in the market.
On a regional level, the market has been classified into North India, East India, West and Central India,
and South India, where North India currently dominates the market.
Some of the major players in the India electric three-wheeler market 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.
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