India Electric Three-Wheeler Market Size- By Vehicle Type, By Battery Type, By Drive Type, By Motor Type, By Power Output, By Voltage Capacity- Regional Outlook, Competitive Strategies, and Segment Forecast to 2033
India Electric Three-Wheeler Market Introduction and Overview
According to SPER market research, ‘India Electric Three-Wheeler Market Size- By vehicle, By Battery Type, By Drive Type, By Motor Type, By Power Output, By Volatage Capacity ‘- Regional Outlook, Competitive Strategies, and Segment Forecast to 2033’ state that the India Electric Three-Wheeler Market is predicted to reach USD 1.87 billion by 2033 with a CAGR of 16.01%.
Electric three-wheelers are driven by electricity and have motors with great torque and batteries with extended lifespans. A tricycle is a three-wheeled vehicle with two rear wheels and one front wheel, whereas a tadpole is a vehicle with two front wheels and one back wheel. Electric three-wheelers are more widely used in a variety of industries, including local passenger transportation and intercity freight and service transportation.
The market faced uncertainty during the COVID-19 crisis as government’s worldwide enforced total lockdowns and temporary industry shutdowns. This significantly disrupted the global production and sales of electric three-wheelers. Additionally, the pandemic affected the income sources of electric three-wheeler drivers, particularly in the passenger sector, leading to a notable rise in loan defaults. This, in turn, triggered a chain reaction as reduced access to financial facilities further hampered electric three-wheeler sales.
Scope of the Report:Report Metric Details
Market size available for years 2019-2033
Base year considered 2022
Forecast period 2023-2033
Segments covered By Vehicle Type, By Battery Type, By Drive Type, By Motor Type, By Power Output, By Voltage Capacity
Regions covered North India, East India, West and Central India, South India
Companies CoveredTVS 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
India Electric Three-Wheelers Market SegmentationBy Vehicle:Based on the Vehicle, India Electric Three-Wheeler Market is segmented into Load carrier and Passenger Carrier.
By Battery Type:Based on the Battery Type, India Electric Three-Wheelers Market is segmented into Lead Acid and Lithium Ion.
By Drive Type:Based on the Drive Type, the India Electric Three-wheeler Market is segmented into the Hub Type and chassis Mounted.
By Voltage Capacity:Based on the Voltage Capacity, India Electric Three-Wheeler Market is segmented into 48-59V, 60-72V, 73-96V, and Above 96V.