The India Three-Wheeler
Market is anticipated to register a robust CAGR in terms of value by 2028. One
of the main concerns for government and environmentalists in India, over
the past few years has been the increase in carbon emissions from fuel-based
internal combustion engines. The electric three-wheelers offer an alternative
to ICE based cars as their pollution rate is almost zero.
Indian government has chosen to replace gasoline-powered vehicles with
electric three-wheelers in their public transportation systems because they are
more environmentally friendly and have lower long-term operating costs. Additionally,
the relatively higher cost of gasoline, CNG, and diesel has caused to shift drivers’
preference towards the electric three-wheeler for
shorter distances.
Use of three-wheelers for the Online Groceries & Food Deliveries
Many
e-commerce companies have started their operations in the past few years in
different states of India, as the internet using population has witnessed
growth over the past few years. The e-commerce market is growing rapidly in
many states in the country due to the increasing e-commerce activities, such as
online food and grocery sales etc., which have increased the demand for three
wheelers for delivery purposes. Owing to the easy riding comforts, and easy
transmission numerous delivery workers have to depend on three wheelers. The
trend for these three wheelers is uplifting manufacturing and the sales of the
ICE and electric three wheelers in the country. Many
different three-wheeler brands are like Bajaj Auto Ltd., Piaggio Vehicles
Private Limited (India), Mahindra & Mahindra Ltd., TVS
Motor Company Limited, etc. are launching their models in these segments, and
hence this is expected to expand the India three wheelers market in the coming
years.