Press Release

OLA, UBER to push growth of India Three-Wheeler Market beyond 15% through 2023

Growing domestic demand, rising population and increasing demand for last mile connectivity to boost three wheeler market in India during next five years

According to TechSci Research report, India Three-Wheeler Market By Vehicle Type, By Fuel Type, Competition Forecast and Opportunities, 2013 - 2023, India three-wheeler market is projected to grow at a CAGR of over 15% during 2018 – 2023 on the back of growing domestic demand, rising population, increasing need for last mile connectivity and increasing three-wheeler exports from India, predominantly to the countries in the African continent. Moreover, increasing three-wheeler mobility in demand service in India by Radio Taxi operators such as OLA and UBER is also buoying the sales of three-wheelers in the country. Poor road infrastructure in tier 2 and tier 3 cities in the country is further boosting the use of three-wheelers in India. Furthermore, increasing focus of the government towards cleaner automobiles is augmenting the sales of electric three-wheelers in India, which is positively influencing the overall three-wheeler market in the country.

Browse 29 market data Figures and Tables spread through 66 Pages and an in-depth TOC on "India Three-Wheeler Market"

With a volume share of over four-fifth of the overall market, passenger carrier segment dominated India three-wheeler market in 2017. With radio taxi providers such OLA and UBER considering three wheeler as a next potential growth segment, the market is expected to pose significant growth. The dominance of this segment can be attributed to growing demand for last mile connectivity services for which passenger carriers are majorly used.  Bajaj Auto Limited is the leading player in India three-wheeler market, followed by Piaggio & C. SpA., Mahindra & Mahindra Ltd., and Atul Auto Limited, among others. Furthermore, many Chinese and small-scale electric three-wheeler manufacturers are increasing their focus on expanding their business operations in India by enhancing the quality of their products and by investing in research and development and expanding their respective product portfolios.

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“Growing presence as well as widening product portfolios of various companies such as Bajaj, Mahindra and Mahindra, TVS, Piaggio, Atul Auto, etc., coupled with thrust from radio taxi service providers such as OLA and UBER is expected to intensify market competition in India three-wheeler market in the coming years. Moreover, availability of easy financing options, rising demand for electric three-wheelers along with growing sales and exports of three-wheelers is further expected to boost revenues three-wheeler manufacturers operating in India during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Three-Wheeler Market By Vehicle Type, By Fuel Type, Competition Forecast and Opportunities, 2013 - 2023 has analyzed the potential of three-wheeler market in India, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by India three-wheeler market. 

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


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