The Indian electric three-wheelers market is expected to grow at a CAGR of around 8.3%

WILMINGTON, Del. - March 17, 2023 - PRLog -- The report, titled "Indian Electronic Three-Wheelers: Market Analysis and Forecast 2019-2028" examines the global market based on fleet type, battery type, charging type, sales channel, demography, and region. The report is comprehensive and provides complete historical and projected market size along with an extensive market trend analysis.

Market Overview and Dynamics

According to a study by NITI Aayog, the Electric three-wheeler segment contributes to 79% of the total electric vehicle market across India and is driving the electrification of the Indian automotive industry.

• Additionally, the maintenance costs for the electric three-wheeler are reduced by 80% compared to the cost of maintaining an ICE vehicle, which is also one of the reasons for the rapid rise of electric three-wheelers in the country, where people dependent on electric three-wheelers for earning bread look for low-cost and reasonably priced alternatives.

In addition, the wide range of financing options offered by electric three-wheeler dealers and sellers makes it easier to transition to electric three-wheelers.

• Furthermore, electric three-wheelers are quieter, cleaner, more efficient, and less expensive to maintain than traditional three-wheeler. Together, these elements contribute to the expansion of the Indian electronic three-wheeler industry.

Segment Analysis

• Based on fleet type, the Passenger fleet constitutes a major market share as in India E-rickshaws are witnessing increasing adoption as it caters to environmental concerns.

Competition Analysis

Due to the presence of many well-established companies in the Indian electric three-wheelers sector, there is intense competition. International and leading electric three-wheeler companies are striving to establish operations in India by partnering with local companies or by setting up their own manufacturing/development unit, potentially combined with imports of specific components.

Some of the leading players involved in the production and marketing of the electric three-wheelers market include YC Electric, Mahindra Electric Mobility, Kinetic Green, Lohia Auto, Piaggio Vehicles Pvt. Ltd., Gayam Motors Works, Atul Auto, and others.

RationalStat has segmented the Indian electric three-wheelers market on the basis of fleet type, charging type, battery type, sales channel, demography, and region.

• By Fleet Type
  • Passenger Fleet
    • Paratransit Fleet
    • Feeder Transport Fleet
  • By Charging Type
    • Plug-in Charging
      • Fixed EVSE
      • Portable EVSE
    • By Battery Type
      • Lead Acid Battery
      • Lithium-ion Battery
    • By Sales Channel
      • Company Owned Dealers
      • Frenchie's Store
      • Others (Third Party Dealers, etc.)
    • By Demography
      • Rural
      • Urban
        • TIER I
        • TIER II
        • TIER III
      • By Region
        • West and Central India
          • Gujarat
          • Rajasthan
          • Madhya Pradesh
          • Rest of West and Central India
        • East India
          • Sikkim
          • Bihar
          • West Bengal
          • Rest of East India
        • South India
          • Andhra Pradesh
          • Tamil Nadu
          • Maharashtra
          • Rest of South India

For more information about this report: https://store.rationalstat.com/store/electric-three-wheelers-market/