India and Sri Lanka Electric Three Wheeler Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (E-Auto and E-Rickshaw) and Country

TIPRE00011462 | Pages: 150 | Automotive and Transportation | Jun 2020 | Type: Regional | Status: Published

Market Introduction

Electrification of auto-rickshaws plays an important role in meeting the transport requirement of many large and medium Indian cities and is critical for reducing air pollution and providing clean mobility solutions. The auto-rickshaws, generally three-wheelers, with both four and two-stroke internal combustion engines, are fuelled by Diesel, Compressed Natural Gas (CNG), and Liquefied Petroleum Gas (LPG). According to a recent study by TERI, an average conventional LPG auto emits approximately 0.005 tonnes of Particulate Matter-10 (PM10) in a year and about 3.72 tonnes of carbon dioxide in a year (TERI, 2018)1. On the other hand, electric auto-rickshaws (e-autos) provide zero tailpipe emission and no-noise solution while meeting the mobility needs of people.

Three-wheeler goods carriers are used as pickup vans, which help to transport goods from one place to another and delivery vans, which help to deliver goods. Three-wheeler vehicles can run with petrol, diesel, LPG, CNG, and electric variants. The demand for three-wheelers is growing as it is an effective, fast, and cost-effective way of transportation even in the areas where buses, trucks, taxis, cannot be used due to traffic issues and also due to narrow roads. Additionally, the introduction of CNG/LPG three-wheelers has revived the three-wheeler market and suggestively increased the adequacy of the three-wheeler market across many regions, particularly in developing nations.

  


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Market Overview and Dynamics

The electric three wheelers market in India was valued INR 708,520.3 Lakh in 2019 and is projected to reach INR 1,910,845.7 Lakh by 2027; it is expected to grow at a CAGR of 29.61% from 2020 to 2027. The electric three wheelers market in Sri Lanka was valued INR 2,604.2 Lakh in 2019 and is projected to reach INR 8,624.7 Lakh by 2027; it is expected to grow at a CAGR of 33.4% from 2020 to 2027. With the rising traffic congestion across the major states across India, people are continually opting for ride-sharing services. Three-wheelers plays a vital role in the ride-sharing industry across the world. Majorly, in the Asia Pacific region, three-wheelers are mostly preferred for public transport. Due to their small wheelbase, three-wheelers have the tendency to cut through traffic at ease with the ability to carry more than one passenger as compared to a motorbike. Three-wheeler, when considered in ride-sharing, incurs lesser charges than a car. This has given rise to the demand even further three-wheelers as passengers prefer to opt for them as complimentary to cars.

Three-wheelers are also preferred as goods carriers in the India and Sri Lankan region. Owing to their lower cost of operation, a small load of goods is preferably transferred through three-wheelers within the city. In countries like India, where traffic congestion is at the peak, people are refraining from opting for personal modes of transport such as cars. Various cities in India, such as Bangalore Pune, Mumbai, Hyderabad, and Delhi, are witnessing a multitude of traffic congestions leading to several hours of delay. It has been observed that the Millennial are opting for ride-sharing services in contrast to owning personal vehicles. This has given rise to the demand for three-wheelers owing to their cheaper fare. India is one of the major shareholders in terms of revenue in the three-wheeler market. This growth in the demand for three-wheeler as the preferred mode of transportation, the production of these vehicles is also set to increase in the near future. Thus, traffic congestion rising across the India and Sri Lanka is expected to drive the market of three-wheelers.   

Key Market Segments

In terms of type, the e-rickshaw segment accounted for the largest share of the India and Sri Lanka electric three wheelers market in 2019. In terms of e-rickshaw type, the person carrier segment held a larger market share of the electric three wheelers market in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the weapon mounts market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Adapt Motors Pvt. Ltd, Saarthi e-RICKSHAWS, SL Mobility, KSL Cleantech Limited, Omega Seiki Pvt. Ltd, Altigreen, OK Play EV, Lohia Auto Industries, Kinetic Green Energy & Power Solutions Ltd, ATUL Auto Limited, Piaggio & C. SpA, Bajaj Auto Ltd, J.S. Auto (P) LTD., and Speego Vehicles Co Pvt Limited, among others.

 

Reasons to buy report

  • To understand the India and Sri Lanka electric three wheelers market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for India and Sri Lanka three wheelers market
  • Efficiently plan M&A and partnership deals in India and Sri Lanka three wheelers market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form India and Sri Lanka three wheelers market
  • Obtain market revenue forecast for market by various segments from 2020-2027 in India and Sri Lanka region.

INDIA AND SRI LANKA ELECTRIC THREE WHEELERS MARKET SEGMENTATION

India Electric three wheelers market – By Type

  • E-Auto (High Speed)
    • People Carrier
    • Goods Carrier
    • Special Vehicles
  • E-Rickshaw (Low Speed)
    • People Carrier
    • Goods Carrier
    • Special Vehicles

 

Sri Lanka Electric three wheelers market – By Type

  • E-Auto (High Speed)
    • People Carrier
    • Goods Carrier
    • Special Vehicles
  • E-Rickshaw (Low Speed)
    • People Carrier
    • Goods Carrier
    • Special Vehicles

India and Sri Lanka Electric three wheelers Market-Companies Mentioned

  • Gayam Motor Works Pvt. Ltd
  • Exide Industries Limited
  • Green Shuttle Technology Pvt Ltd
  • Dilli Electric Auto Pvt Ltd
  • REEP Industries Private Limited
  • DSF Industries
  • Adapt Motors Pvt. Ltd
  • SAARTHI e-RICKSHAWS
  • SL Mobility
  • KSL Cleantech Limited
  • Omega Seiki Pvt. Ltd
  • Altigreen
  • OK Play EV
  • LOHIA AUTO INDUSTRIES
  • Kinetic Green Energy & Power Solutions Ltd
  • ATUL Auto Limited
  • Piaggio & C. SpA
  • Bajaj Auto Ltd
  • J.S. AUTO (P) LTD.
  • Speego Vehicles Co Pvt Limited
  • Mahindra & Mahindra Ltd.
  • Scooters India Limited
  • TVS Motor Company
  • Terra Motors Corporation
  • Xianghe Qiangsheng Electric Tricycle Factory  

1.           Introduction

1.1         Scope of the Study

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           India and Sri Lanka Electric Three-Wheeler - Market Landscape

4.1         Market Overview

4.2         PEST Analysis

4.2.1        Electric Three-Wheeler Market – India PEST Analysis

4.2.2        Electric Three-Wheeler Market – Sri Lanka PEST Analysis

4.3         Premium Insights

4.3.1        E-Rickshaw Sales by Major States in India

4.3.2        E-Auto Sales by Major States in India

4.3.3        Sri Lanka Electric Three-Wheeler Sales

4.4         Benefits Offered by Indian Government to Manufacturers

4.4.1        National Urban Transport Policy (NUTP), 2006

4.4.2        National Electric Mobility Mission Plan (NEMMP), 2020

4.4.3        Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME - India)-I &II

4.4.4        State EV policies

4.4.5        International best practices

4.5         Government Approvals

5.           India Electric Three-Wheeler Market – Key Industry Dynamics

5.1         Key Market Driver

5.1.1        Growing demand for eco-friendly three wheelers

5.1.2        Traffic Congestion

5.2         Key Market Restraint

5.2.1        Instability and lack of safety norms

5.3         Key Market Opportunity

5.3.1        Improving charging infrastructure across the country

5.4         Future Trend

5.4.1        Increasing the Range Covered by Electric Three-Wheeler Would Stimulate Market Growth

5.5         Impact Analysis of Drivers and Restraints

6.           Electric Three-Wheeler Market – India Analysis

6.1         India Electric Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)

7.           India Electric Three-Wheeler Market – By Type

7.1         Overview

7.2         India Electric Three-Wheeler Market Breakdown, by Type (2018 and 2027)

7.3         E-Auto (High Speed)

7.3.1        Overview

7.3.2        E-Auto (High-Speed): Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

7.3.2.1          India: Electric Three-wheeler Market, by E-Auto (High-Speed) Type (INR Lakh)

7.3.2.2          India: Electric Three-wheeler Market, by E-Auto (High-Speed) Type (Units)

7.4         E-Rickshaw (Slow Speed)

7.4.1        Overview

7.4.2        E-Rickshaw (Slow Speed): Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

7.4.2.1          India: Electric Three-wheeler Market, by E-Rickshaw (Low-Speed) Type (INR Lakh)

7.4.2.2          India: Electric Three-wheeler Market, by E-Auto (High-Speed) Type (Units)

8.           Sri Lanka Electric Three-Wheeler Market – Key Industry Dynamics

8.1         Key Market Driver

8.1.1        Public Transport Issues

8.1.2        Traffic Congestion

8.2         Key Market Restraint

8.2.1        Lack of local manufacturers

8.3         Key Market Opportunity

8.3.1        Increasing adoption of three wheelers in Sri Lanka

8.4         Future Trend

8.4.1        Increasing the Range Covered by Electric Three-Wheeler Would Stimulate Market Growth

8.5         Impact Analysis of Drivers and Restraints

9.           Electric Three-Wheeler Market – Sri Lanka Analysis

9.1         Sri Lanka Electric Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)

10.        Sri Lanka Electric Three-Wheeler Market – By Type

10.1      Overview

10.2      Sri Lanka Electric Three-Wheeler Market Breakdown, by Type (2018 and 2027)

10.3      E-Auto (High Speed)

10.3.1     Overview

10.3.2     E-Auto (High-Speed): Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

10.3.2.1       Sri Lanka: Electric Three-wheeler Market, by E-Auto (High-Speed) Type (INR Lakh)

10.3.2.2       Sri Lanka: Electric Three-wheeler Market, by E-Auto (High-Speed) Type (Units)

10.4      E-Rickshaw (Slow Speed)

10.4.1     Overview

10.4.2     E-Rickshaw (Slow Speed): Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

10.4.2.1       Sri Lanka: Electric Three-wheeler Market, by E-Rickshaw (Low-Speed) Type (INR Lakh)

10.4.2.2       Sri Lanka: Electric Three-wheeler Market, by E-Auto (High-Speed) Type (Units)

11.        Impact of Coronavirus Outbreak

11.1      Impact of COVID-19 Pandemic On Electric Three-Wheeler Market

11.1.1     India: Impact Assessment of COVID-19 Pandemic

11.1.2     Sri Lanka: Impact Assessment of COVID-19 Pandemic

12.        Company Profiles

12.1      Gayam Motor Works Pvt. Ltd

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2      Exide Industries Limited

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3      Green Shuttle Technology Pvt Ltd

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4      Dilli Electric Auto Pvt Ltd

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5      REEP Industries Private Limited

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

12.6      DSF Industries

12.6.1     Key Facts

12.6.2     Business Description

12.6.3     Products and Services

12.6.4     Financial Overview

12.6.5     SWOT Analysis

12.6.6     Key Developments

12.7      Adapt Motors Pvt. Ltd

12.7.1     Key Facts

12.7.2     Business Description

12.7.3     Products and Services

12.7.4     Financial Overview

12.7.5     SWOT Analysis

12.7.6     Key Developments

12.8      SAARTHI e-RICKSHAWS

12.8.1     Key Facts

12.8.2     Business Description

12.8.3     Products and Services

12.8.4     Financial Overview

12.8.5     SWOT Analysis

12.8.6     Key Developments

12.9      SL Mobility

12.9.1     Key Facts

12.9.2     Business Description

12.9.3     Products and Services

12.9.4     Financial Overview

12.9.5     SWOT Analysis

12.9.6     Key Developments

12.10   KSL Cleantech Limited

12.10.1  Key Facts

12.10.2  Business Description

12.10.3  Products and Services

12.10.4  Financial Overview

12.10.5  SWOT Analysis

12.10.6  Key Developments

12.11   Omega Seiki Pvt. Ltd.

12.11.1  Key Facts

12.11.2  Business Description

12.11.3  Products and Services

12.11.4  Financial Overview

12.11.5  SWOT Analysis

12.11.6  Key Developments

12.12   Altigreen

12.12.1  Key Facts

12.12.2  Business Description

12.12.3  Products and Services

12.12.4  Financial Overview

12.12.5  SWOT Analysis

12.12.6  Key Developments

12.13   OK Play EV

12.13.1  Key Facts

12.13.2  Business Description

12.13.3  Products and Services

12.13.4  Financial Overview

12.13.5  SWOT Analysis

12.13.6  Key Developments

12.14   LOHIA AUTO INDUSTRIES

12.14.1  Key Facts

12.14.2  Business Description

12.14.3  Products and Services

12.14.4  Financial Overview

12.14.5  SWOT Analysis

12.14.6  Key Developments

12.15   Kinetic Green Energy & Power Solutions Ltd.

12.15.1  Key Facts

12.15.2  Business Description

12.15.3  Products and Services

12.15.4  Financial Overview

12.15.5  SWOT Analysis

12.15.6  Key Developments

12.16   ATUL Auto Limited

12.16.1  Key Facts

12.16.2  Business Description

12.16.3  Products and Services

12.16.4  Financial Overview

12.16.5  SWOT Analysis

12.16.6  Key Developments

12.17   Piaggio & C. SpA

12.17.1  Key Facts

12.17.2  Business Description

12.17.3  Products and Services

12.17.4  Financial Overview

12.17.5  SWOT Analysis

12.17.6  Key Developments

12.18   Bajaj Auto Ltd.

12.18.1  Key Facts

12.18.2  Business Description

12.18.3  Products and Services

12.18.4  Financial Overview

12.18.5  SWOT Analysis

12.18.6  Key Developments

12.19   J.S. AUTO (P) LTD.

12.19.1  Key Facts

12.19.2  Business Description

12.19.3  Products and Services

12.19.4  Financial Overview

12.19.5  SWOT Analysis

12.19.6  Key Developments

12.20   Speego Vehicles Co Pvt Limited

12.20.1  Key Facts

12.20.2  Business Description

12.20.3  Products and Services

12.20.4  Financial Overview

12.20.5  SWOT Analysis

12.20.6  Key Developments

12.21   Mahindra & Mahindra Ltd.

12.21.1  Key Facts

12.21.2  Business Description

12.21.3  Products and Services

12.21.4  Financial Overview

12.21.5  SWOT Analysis

12.21.6  Key Developments

12.22   Scooters India Limited

12.22.1  Key Facts

12.22.2  Business Description

12.22.3  Products and Services

12.22.4  Financial Overview

12.22.5  SWOT Analysis

12.22.6  Key Developments

12.23   TVS Motor Company

12.23.1  Key Facts

12.23.2  Business Description

Products and Services

12.23.3  Financial Overview

12.23.4  SWOT Analysis

12.23.5  Key Developments

12.24   Terra Motors Corporation

12.24.1  Key Facts

12.24.2  Business Description

12.24.3  Products and Services

12.24.4  Financial Overview

12.24.5  SWOT Analysis

12.24.6  Key Developments

12.25   Xianghe Qiangsheng Electric Tricycle Factory

12.25.1  Key Facts

12.25.2  Business Description

12.25.3  Products and Services

12.25.4  Financial Overview

12.25.5  SWOT Analysis

12.25.6  Key Developments

LIST OF TABLES

Table 1.             E-Rickshaw Sales by Major States in India (Units)

Table 2.             E-Auto Sales by Major States in India (Units)

Table 3.             Sri Lanka Electric Three-Wheeler Sales (Units)

Table 4.             Provisions for which test reports from test agency are required

Table 5.             Provisions for which test reports from Vehicle Manufacturer / Component Supplier / Third Party test agency are required

Table 6.             India Electric Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

Table 7.             India Electric Three-Wheeler Market – Volume and Forecast to 2027 (Units)

Table 8.             E-Rickshaw and E-Auto Difference

Table 9.             India: Three-wheeler Market, by Type, 2018–2027 (INR Lakh)

Table 10.          India: Three-wheeler Market, by E-Auto (High-Speed) Type, 2018–2027 (Units)

Table 11.          India: Three-wheeler Market, by E-Rickshaw (Slow-Speed) Type, 2018–2027 (INR Lakh)

Table 12.          India: Three-wheeler Market, by Type, 2018–2027 (Units)

Table 13.          Sri Lanka Electric Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

Table 14.          Sri Lanka Electric Three-Wheeler Market – Volume and Forecast to 2027 (Units)

Table 15.          E-Rickshaw and E-Auto Difference

Table 16.          Sri Lanka: Three-wheeler Market, by Type, 2018–2027 (INR Lakh)

Table 17.          Sri Lanka: Three-wheeler Market, by E-Auto (High-Speed) Type, 2018–2027 (Units)

Table 18.          Sri Lanka: Three-wheeler Market, by E-Rickshaw (Slow-Speed) Type, 2018–2027 (INR Lakh)

Table 19.          Sri Lanka: Three-wheeler Market, by Type, 2018–2027 (Units)

 

LIST OF FIGURES

Figure 1.           Three Wheeler Market Segmentation

Figure 2.           Three-Wheeler Market Overview

Figure 3.           Sri Lanka Three-Wheeler Market, by Type

Figure 4.           India Three-Wheeler Market, by Type

Figure 5.           India – PEST Analysis

Figure 6.           Sri Lanka – PEST Analysis

Figure 7.           India and Sri Lanka Electric Three-Wheeler Market Impact Analysis of Drivers and Restraints

Figure 8.           India Electric Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

Figure 9.           India Electric Three-Wheeler Market Revenue Share, by Type (2019 and 2027)

Figure 10.        India Electric Three-Wheeler Market Volume Share, by Type (2019 and 2027)

Figure 11.        India E-Auto (High-Speed): Electric Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

Figure 12.        E-Rickshaw (Slow Speed): Electric Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

Figure 13.        India and Sri Lanka Electric Three-Wheeler Market Impact Analysis of Drivers and Restraints

Figure 14.        Sri Lanka Electric Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

Figure 15.        Sri Lanka Electric Three-Wheeler Market Revenue Share, by Type (2019 and 2027)

Figure 16.        Sri Lanka Electric Three-Wheeler Market Volume Share, by Type (2019 and 2027)

Figure 17.        Sri Lanka E-Auto (High-Speed): Electric Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

Figure 18.        E-Rickshaw (Slow Speed): Electric Three-Wheeler Market – Revenue and Forecast to 2027 (INR Lakh)

 

 

The List of Companies - India and Sri Lanka Electric Three Wheeler Market

  1. Gayam Motor Works Pvt. Ltd
  2. Exide Industries Limited
  3. Green Shuttle Technology Pvt Ltd
  4. Dilli Electric Auto Pvt Ltd
  5. REEP Industries Private Limited
  6. DSF Industries
  7. Adapt Motors Pvt. Ltd
  8. SAARTHI e-RICKSHAWS
  9. SL Mobility
  10. KSL Cleantech Limited
  11. Omega Seiki Pvt. Ltd
  12. Altigreen
  13. OK Play EV
  14. LOHIA AUTO INDUSTRIES
  15. Kinetic Green Energy & Power Solutions Ltd
  16. ATUL Auto Limited
  17. Piaggio& C. SpA
  18. Bajaj Auto Ltd
  19. J.S. AUTO (P) LTD.
  20. Speego Vehicles Co Pvt Limited
  21. Mahindra & Mahindra Ltd.
  22. Scooters India Limited
  23. TVS Motor Company
  24. Terra Motors Corporation
  25. XiangheQiangsheng Electric Tricycle Factory

 

  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the India and Sri Lanka electric three wheelers market, thereby allowing players to develop effective long term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize In-depthIndia and Sri Lankan market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to type.
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