India Electric Three-wheeler Market

Industry Overview

The Indian Electric Three-Wheeler Market is predicted to grow at 46.2% CAGR during the forecast period, in terms of its fleet size. The Indian market is primarily driven by government support and subsidies, the entrance of new entrants in the market, and the need for an alternative transport system to curb vehicular emissions. Passenger vehicles largely contributed to the Indian three-wheeler market.

Market Segmentation

Insight by Product

Based on product, the electric three-wheelers market is segmented into e-rickshaws, e-auto, and others. E-rickshaws are the most preferred three-wheeler category. E-rickshaws are the typical three-wheelers with a top speed of around 25km/hr. These are alternatives to conventional pull rickshaws with pedals and auto rickshaws. A typical e-rickshaw carries 4+1 or 3 passengers at a time.

Insight by Type

Based on type, the market is categorized into passenger vehicles and load carriers. Passenger vehicles hold a larger share of the market due to the high preference for these vehicles in intracity transport within metropolitan cities.

Insight by Motor Power

Based on motor power, the market is segmented into 1,500 W. Of all, 1,000-1,500 W powered three-wheelers hold the largest share in the Indian market. The highest share of the 1,000-1,500 W powered three-wheelers in the market is due to the optimum performance and cost of the vehicle at this power.

Global India Electric Three-wheeler Market Report Coverage

Industry Dynamics

Government support and subsidies, the entrance of new entrants in the market, and the need for an alternative transport system to curb vehicular emissions are the key factors fueling the demand for the electric three-wheelers market in India. The government of India has committed to lower the vehicular emission by 2023 which leads to immediate measures to replace the conventional modes of transport with electric vehicles.

In 2018, the Indian government confirmed subsidies for all types of electric vehicles. Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles II (FAMEII) scheme has been finalized in April this year. As per the scheme, the government will invest INR 5,500 crores (~ USD 784 million) in the next five years. The governing panel decided that the subsidiary would be provided for all kinds of electric vehicles including light electric vehicles.

As per the scheme, the government will provide incentives of INR 1,800 to INR 29,000 (~USD 24 to USD 390) for battery-operated electric scooters and motorcycles and INR 3.300 to INR 61,000 (~USD 44 to USD 820) for electric three-wheelers. The Indian government is ready to invest around 1.3 billion USD for the rollout of the FAME II scheme.

In the Delhi metro city, e-rickshaws are being preferred as the first-mile commute to metro stations. Delhi government initially announced a subsidy of INR 15,000 (~ USD 202) in 2023 and later in 2021 announced financial assistance of INR 30,000 (~USD 404) for retrofitting registration of electric rickshaws. In 2021, the Delhi government released INR 30,000 for 6,000 e-rickshaw owners registered with the government. In West Bengal, the local government has taken the project to distribute e-rickshaws to unemployed youths, which encourages the adoption of e-mobility in the state.

However, unregulated on-road e-rickshaws are hampering the growth of the market to some extent.

Competitive Insight

Clean Motion India, Kinetic Green Energy and Power Solutions Ltd., Terra Motors Corporation, Saera Electric Auto Pvt. Ltd., Hero Electric Vehicles Pvt. Ltd and Lohia Auto Industries are some of the key players operating in the Indian electric three-wheeler market.

The India Electric Three-Wheeler Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

• Product
  • E-rickshaw
  • E-auto
  • Others
• Type
  • Passenger Vehicle
  • Load Carrier
• Motor Power
  • 1,000-1,500W
  • >1,500W

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

Also, Have a look at our eDiscovery Market Report

1. Research Overview

1.1.  The Report Offers

1.2.  Market Coverage

1.2.1. By Product

1.2.2. By Type

1.2.3. By Motor Power

1.3.  Research Phases

1.4.  Limitations

1.5.  Market Size Estimations and Forecast

1.5.1. Data Sources

1.5.1.1. Primary Research

1.5.1.2. Secondary Research

1.5.2. Methodology

1.5.2.1. Data Exploration

1.5.2.2. Forecast Parameters

1.5.2.3. Data Validation

1.5.2.4. Assumptions

1.5.3. Study Period & Data Reporting Unit

2. Executive Summary

3. Market Definition

3.1. By Product

        3.1.1. E-Rickshaw

        3.1.2. E-Auto

        3.1.3. Others

3.2.  By Type

3.2.1. Passenger Vehicles

3.2.2. Load Carriers

3.3.  By Motor Power

3.3.1. <1,000W

3.3.2. 1,000-1,500 W

3.3.3. >1,500W

4. Industry Overview

4.1.  Industry Dynamics

4.1.1. Major Drivers

4.1.2. Major Restraints

4.1.3. Key Trends

4.1.4. Key Opportunities

4.2.  Industry Ecosystem

4.2.1. Value Chain Analysis

4.2.2. Regulatory Framework

4.3.  Competitive Insight

5. India Market Estimate and Forecast

5.1.  By Product

5.2.  By Motor Power

6. Company Profiles

6.1.  Clean Motion India

6.1.1. Snapshot

6.1.2. Overview

6.1.3. Offerings

6.1.4. Financial Insight

6.1.5. Recent Developments

6.2.  Kinetic Green Energy and Power Solutions Ltd.

6.2.1. Snapshot

6.2.2. Overview

6.2.3. Offerings

6.2.4. Financial Insight

6.2.5. Recent Developments

6.3.  Terra Motors Corporation

6.3.1. Snapshot

6.3.2. Overview

6.3.3. Offerings

6.3.4. Financial Insight

6.3.5. Recent Developments

6.4.  Hero Electric Vehicles Pvt. Ltd.

6.4.1. Snapshot

6.4.2. Overview

6.4.3. Offerings

6.4.4. Financial Insight

6.4.5. Recent Developments

6.5.  Lohia Auto Industries

6.5.1. Snapshot

6.5.2. Overview

6.5.3. Offerings

6.5.4. Financial Insight

6.5.5. Recent Developments

7. Appendix

7.1.  Exchange Rates

7.2.  Abbreviations

Note: Financial insights and recent developments are subject to availability of information in secondary domain.

List of Tables

Table 1 Sources

Table 2 Study Periods

Table 3 Data Reporting Unit

Table 4 India Electric Three-Wheeler Market Size, By Product, Units (2018 – 2023)

Table 5 India Electric Three-Wheeler Market Size, By Product, Units (2025 – 2030)

Table 6 India Electric Three-Wheeler Market Size, By Product, USD Billion (2018 – 2023)

Table 7 India Electric Three-Wheeler Market Size, By Product, USD Billion (2025 – 2030)

Table 8 India Electric Three-Wheeler Market Size, By Motor Power, Units (2018 – 2023)

Table 9 India Electric Three-Wheeler Market Size, By Motor Power, Units (2025 – 2030)

Table 10 India Electric Three-Wheeler Market Size, By Motor Power, USD Billion (2018 – 2023)

Table 11 India Electric Three-Wheeler Market Size, By Motor Power, USD Billion (2025 – 2030)

Table 12 Snapshot – Clean Motion India

Table 13 Snapshot – Kinetic Green Energy and Power Solutions Ltd.

Table 14 Snapshot – Terra Motors Corporation

Table 15 Snapshot – Hero Electric Vehicles Pvt. Ltd.

Table 16 Snapshot – Lohia Auto Industries

List of Figures

Figure 1 Market Coverage

Figure 2 Research Phases

Figure 3 Secondary Sources for Different Parameters

Figure 4 Methodology

Figure 5 Data Mining & Exploration

Figure 6 Data Triangulation

Figure 7 Assumptions for Market Estimation and Forecast

Figure 8 India Electric Three-Wheeler Market - Growth Drivers and Restraints

Figure 9 Value Chain Analysis

Figure 10 Competitive Benchmarking

Figure 11 India Electric Three-Wheeler Market Highlight

Figure 12 India Electric Three-Wheeler Market Size, By Product, Units (2018 – 2030)

Figure 13 India Electric Three-Wheeler Market Size, By Product, USD Billion (2018 – 2030)

Figure 14 India Electric Three-Wheeler Market Size, By Motor Power, Units (2018 – 2030)

Figure 15 India Electric Three-Wheeler Market Size, By Motor Power, USD Billion (2018 – 2030)