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India Electric Three-Wheeler Market Forecast and Opportunities, FY2023 - Brochure
India Electric Three-Wheeler Market Forecast and Opportunities, FY2023 - Brochure
T y p e , B y B a t t e r y C a p a c i t y, C o m p e t i t i o n
Fo r e c a s t a n d O p p o r t u n i t i e s , F Y 2 0 1 3 - F Y 2 0 2 3
Ta b l e o f C o n t e n t s
S. No. Contents
1. Product Overview
2. Research Methodology
3. Analyst View
4. Voice of Customer
5. Government Initiatives
S. No. Contents
7.2.2. By Company
8.2.2. By Company
9. Market Dynamics 3
© TechSci Research
Ta b l e o f C o n t e n t s
S. No. Contents
9.1. Drivers
9.2. Challenges
Product Definition
Product Classification
© TechSci Research
Research Methodology
Market Profiling
Formulating Questionnaire
Data Validation
Baseline Methodology:
For the study, TechSci Research has gathered information through primary research surveys with leading electric
three-wheeler manufacturing companies operating in India. We also put through an exhaustive search of credible
paid databases, such as Business Week, Factiva, Hoovers, etc., including our internal database. Our team of analysts
has then prudently evaluated all the collected information and presented the same in chronological order to depict a
meaningful and clear picture of India electric three-wheeler vehicle market. While compiling the data, we have also
cross-checked all the collected information from multiple sources and data warehouses, so as to present the most
accurate and precise information of the concerned industry. We have used innovative business model that focuses on
improving productivity, while ensuring creation of high-quality reports.
Regional Scoping
East Kolkata - - - 7
© TechSci Research
Research Methodology
According to TechSci Research report, “India Electric Three-Wheeler Market By Vehicle Type, By
Battery Capacity, Competition Forecast & Opportunities, FY2013 - FY2023”, India electric three-
wheeler market is projected to cross $ 1.1 billion by FY 2023. Growing three-wheeler sales coupled with
increasing focus on rising air pollution levels in the country are two of the key reasons buoying demand
for electric three-wheelers across the country. Moreover, Government of India is constantly making
efforts to promote the use of electric vehicles in order to bring the rising pollution levels under control.
The government has introduced many incentive schemes, such as FAME (Faster Adoption and
Manufacturing of Hybrid & Electric Vehicles) so that more and more manufacturers as well as customers
opt for electric vehicles. Additionally, rising number of research and development activities on the back
of various ventures by leading companies is further anticipated to positively influence the electric three-
wheeler market in the country during the forecast period.
On the basis of vehicle type, India electric three-wheeler market is broadly segmented into passenger
carriers and load carriers. With a volume share of around 99% in FY 2017, passenger carrier segment
dominated India electric three-wheelers market. Moreover, in the year FY 2017, electric three-wheelers
with battery capacity of less than 101Ah grabbed the largest market share in volume terms, and this
trend is expected to continue through the forecast period, predominantly on account of lower prices of
such electric three-wheelers. During FY 2018 – FY 2023, the country’s electric three-wheelers market is
witnessed to be largely concentrated in the North region, followed by the West region.
Hero Electric Vehicles Pvt Ltd. is the market leader in India electric three-wheeler market. However, with
entry of various automobile manufacturers such as Lohia, Kinetic, Clean Motion, etc., and their
increasing research and development efforts to manufacture technologically advanced and affordable
electric three-wheelers is anticipated to intensify the competition in India electric three-wheeler market
in the coming years. “Continuously rising pollution and degrading air quality across various major cities
in India has pushed the government to take various initiatives. Keeping in view this concern, the
Government of India is focusing on replacing the conventional vehicles running on fossil fuels with the
ones running on electricity. These initiatives coupled with other incentives and rising focus from the
industry as well as the consumer side is expected to boost electric three-wheeler sales in the country in 8
the ensuing years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm. © TechSci Research
Research Methodology
Figure 11: India Electric Three-Wheeler Market Size, By Value (USD Figure 12: India Electric Three-Wheeler Market Share, By
Million), By Volume (Thousand Units), FY2013-FY2023F Vehicle Type, By Volume, FY2013-FY2023F
CAGR FY2018E-FY2023F
CAGR FY2013-FY2017
By Value: X%
By Value: X%
By Volume: X%
By Volume: X% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90%
10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%
138.00
134.00
132.00
124.00
136.00
126.00
120.00
122.00
130.00
128.00
140.00
160.00
156.00
152.00
148.00
144.00
140.00
136.00
132.00
128.00
124.00
120.00
FY13 FY14 FY15 FY16 FY17 FY18E FY19F FY20F FY21F FY22F FY23F FY13 FY14 FY15 FY16 FY17 FY18E FY19F FY20F FY21F FY22F FY23F
Passenger
Carrier Figure 18: India Electric Three-Wheeler Market Attractiveness
India Electric
X% Index, By Vehicle Type, By Volume, FY2017-FY2023F
Three-Wheeler
Market (FY17)
Segmental 22.70%
Shares
CAGR (FY2017-FY2023F)
20.70%
(FY2017) X
Thousand 18.70%
Load Carrier
Units
16.70% Passenger Carrier
X% 14.70%
12.70%
10.70%
Load Carrier
8.70%
USD X Million 6.70%
India Electric Three-Wheeler Market, By 0.00 0.50 1.00 1.50 2.00 2.50
Value, FY17
Low Medium High
Source: XXXXX
Note: These are dummy figures; please purchase our report for actual data 9
Report Price
10
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About Us & Disclaimer
About Us
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides
market research reports in a number of areas to organizations. The company uses innovative business models that focus on improving
productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-
specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global
industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation
of the opportunities available in the market.
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Disclaimer
The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that
it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources
including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any
information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it
has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can
change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption.
Usage of the same for purpose other than internal will require prior approval of TechSci Research.
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