India Three Wheeler Market 2016-2024: Industry Size, Trends, Share, Demand & Growth Opportunity Analysis, Regional Outlook & Forecast 2016-2024

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India Three Wheelers Market Outlook
India Three Wheelers Market Outlook 2024
Opportunity Growth Analysis, 2016-2024
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Fig 13 India Three Wheelers Market Size (USD
Billion)-2016-2024
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• India Three Wheeler Market is anticipated to
  expand at a compound annual growth rate of XX
  during the forecast period i.e. 2016-2024. The
  market is anticipated to reach USD XX Billion by
  the end of 2024. Further, three wheelers sales
  increased from XXX thousand units in 2015 to XXX
  thousand units in 2016, which is likely to reach
  XXX million units by 2024.
• Growth in the market is led by the growing need
  to curb the air pollution levels and the rising
  incentive schemes by the government to support
  manufacturing as well as use of electric
  three-wheelers. Moreover, consistently increasing
  affordability of electric three-wheelers is also
  boosting their adoption across the country.
• one of the major trend that driving the growth
  of three wheelers market is the up-gradation of
  three wheelers. Three wheeler passenger carriers
  are expected to benefit from product
  up-gradations such as 2-stroke to 4-stroke and
  petrol/diesel to CNG as well as from the fresh
  permit opening by different state governments.
  Further, major driver in Indian three wheelers
  market is the rising population and growing need
  for affordable and convenient transportation in
  Tier-II and Tier-III is fuelling the market for
  passenger and goods carrier three wheelers in
  India.

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India Three Wheelers Market Outlook
India Three Wheelers Market Share(), By
Region-2016-2024
India Three Wheelers Market Size USD (Billion).
2016-2024
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In 2016, Passenger Three Wheelers accounted for
the highest market share XX in Global
Automotive Turbochargers Market
With XX share in 2016, Tier-II Cities dominated
the India three wheelers market
India Three Wheelers Market Share (), By Major
Players -2016
India Three Wheelers Market Share (), By Fuel
Type -2016
India Three Wheelers Market Share(), By Vehicle
Type-2016
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India Three Wheelers Market Outlook
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• The export market for three-wheelers mirrored the
  domestic market scenario. Overseas shipments fell
  by a substantial XX to XXX,000 units as compared
  to XXX thousand units in FY2016. The passenger
  carrier segment registered a fall of XX while
  growth in the goods carrier segment was flat.
  Bajaj Auto remains the largest export player with
  a XX share of total export, followed by TVS
  Motor with XX and Piaggio with a XX share.
• Over the past few years, manufacturers like Tata
  Motors and Mahindra Mahindra have been
  expanding the mini truck segment to every load
  and price point. This is taking a toll on the
  three- wheeler segment which is seeing transport
  operators preferring to buy a four-wheeler which
  offers better operating economics and also social
  status in the Indian context
• Overall three-wheeler sales in FY2016-17 fell
  XX to XXX thousand units (2015-16 XXX,000).
  While sales of passenger carriers, the biggest
  segment in the three-wheeler segment, declined
  XX to XXX,000 units (2015-16 XXX,000), the
  goods carrier segment registered XX growth with
  sale of XXX,000 units (2015-16 XX,000).
• Three wheelers are an integral part of the
  countrys automobile sector as they are one of
  the most preferred means of transportation in
  rural as well as urban India. India is positioned
  as the largest manufacturer as well as market for
  three wheelers globally with industry volumes of
  around XXX,000 units in 2015-16.
• Moreover, three wheeler manufacturers in India
  are growing interest in exploring the rural
  markets, which further aided the three wheelers
  market growth in India. In 2018, it is expected
  that three wheelers market is anticipated to
  witness gradual pickup in demand as the effect of
  demonetization and GST begins to moderate.

Growing Sales in Rural Regions
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Stringent Emission Norms
Fuel Efficiency
India Three Wheelers Sales (Million Units)
Domestic Sales
Export
XX Thousand Units
2016
XX Thousand Units
Technological Advancement
2024
XX Thousand Units
XX Thousand Units
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India Three Wheelers Market Outlook 2016-2024
Fig 11 Three-wheelers Production, Sales and
Exports (Thousand Units) 2014-2017
Fig 10 Regional Three Wheelers Registrations
(thousands of units), 201-2016
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• Production declined marginally by 1.6 in 2015-16
  and reached 933,950 units on back of lower demand
  from key exports market. Exports increased only
  by 5 y-o-y after increasing by over 20 in the
  previous year. In 2016-17 (Apr-Jan), overall
  sales declined by about 15.9 led by a sharp dip
  in exports during the period. Exports declined by
  34 during the period on back of combination of
  factors such as regulatory moves by countries
  like Sri Lanka (hike in import duty) and
  Bangladesh (as per new regulation three-wheelers
  not allowed to operate on highways), currency
  fluctuation and reduction in export incentives.
  Also, in the domestic market, demand for
  three-wheeler goods carriers remains under
  pressure due to competition from Small Commercial
  Vehicles (SCVs).

• Three wheelers are an integral part of the
  countrys automobile sector as they are one of
  the most preferred means of transportation in
  rural as well as urban India. India is positioned
  as the largest manufacturer as well as market for
  three wheelers globally with industry volumes of
  around 943,533 units in 2015-16.
• Sri Lanka, Bangladesh (within South Asia)
  followed by Middle East and Africa account for
  around 90 of exports from India as per the
  industry estimates. However, Indian OEMs have
  also started exploring relatively developed
  markets in the ASEAN and Latin American region
  over the past few years. Bajaj Auto accounts for
  the largest share of 70 in the exports of
  three-wheelers from India followed by TVS Motors
  which account for about 24.

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• Technological Advancements
• India should push two-wheelers and three-wheelers
  among electric vehicles and encourage use of
  natural gas for cars since promoting electric
  cars can be very expensive
• Electrification of two- or three-wheeler vehicles
  is something that can be done very cheaply,
  easily. Its where technology and battery swaps
  could happen and thats a very significant part
  of oil demand.
• he challenges associated with very rapid growth
  of electric cars is very significant. The total
  subsidy on an electric car in China is USD
  20-25,000 while fitting a car with compressed
  natural gas (CNG) kit costs as low as USD
  300-400.

• Growing Demand in Domestic and Foreign Rural
  Areas
• Rapid growth of three wheelers market has been
  supported primarily by two factors strong
  demand from international markets on the back of
  rising demand for last-mile connectivity (owing
  to lack of a well-developed public transport
  system) in the emerging markets in Africa and
  South-East Asia, and the declining trend in
  demand for 3W goods carriers in the domestic
  market due to competition from Small Commercial
  Vehicles (SCVs).
• Accordingly, the growth drivers of the domestic
  3W industry are majorly influenced by factors
  that drive demand for passenger 3Ws. Over the
  past decade (i.e. FY 2006-15), the passenger
  carrier segment has witnessed a CAGR of XX
  driven by increasing demand for last-mile
  connectivity in metros and major cities
  improving penetration in T-3 and 4 towns and
  rural areas, gradually increasing availability of
  funding through organized channels.
• In urban markets, replacement demand has also
  been an important growth driver where an
  improving network of CNG fuel stations is driving
  replacement of older petrol or diesel-powered 3Ws
  with ones based on CNG.

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Similar Report Sri Lanka Three Wheelers Market 
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India Plans To Buy Electric Buses, Three-Wheelers
In Clean Transport Push

• Need for Economically Viable Transportation
  System
• The high growth achieved by the Indian economy
  has resulted in the growth of the manufacturing
  sector, which in turn has generated demand for
  vehicles for transporting goods and commodities
  across the country. India is moving towards a hub
  and spoke transportation model in which MHCVs
  are used for inter-city (hubs) transportation and
  the three-wheelers fulfill the need for last mile
  connectivity in goods transport.
• Government Regulations
• Demand for new vehicles in the future will be
  driven by the age limit enforcement on usage of
  three wheelers in large cities. Government
  regulations and incentives in the form of
  subsidies on usage of cleaner fuels like CNG and
  LPG will force a shift to new vehicles. This
  trend is already visible in cities like Delhi and
  Ahmedabad. Relaxation of ceilings on new vehicle
  registrations in cities like Bangalore, Mumbai,
  Delhi and Hyderabad will also generate demand for
  three wheelers.
• Exports of Three Wheeler Vehicles from India
• The highest growth in automotive exports has been
  recorded by the three wheelers segment. Bajaj
  Auto is the largest exporter of three wheelers
  with a share of XX per cent in 2016-17. Passenger
  versions of three wheelers accounted for XX per
  cent of the exports by Bajaj Auto, a fact that
  indicates the need for low cost public
  transportation in the other developing countries.

The government plans to launch an electric
vehicle procurement scheme to push cleaner
transport in the country. The government plans
to buy 10,000 electric buses over the next 15
months, and 50,000 three-wheelers. Stocks of
electric vehicle makers jumped following
announcement. Electric three-wheeler maker OK
Play India Ltd. rose as much as 17 percent, while
electric bus manufacturer JBM Auto Ltd. gained
6.7 percent. JSW Energy Ltd., which plans to
launch its first electric car by 2020, jumped 10
percent. Battery maker Exide Industries Ltd.
jumped 6 percent.
Sample
Our report, India Three Wheelers Market,
observed that the three-wheeler passenger carrier
production has grown incessantly to meet the
demand for such vehicles in tier-II and tier-III
cities. Many players are planning to introduce
new vehicles with more advanced features under
this segment. It is anticipated that the
three-wheeler passenger carriers sales will
increase at a CAGR of over XX during 2016-24.
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Fig 17 India Three Wheelers Market
Attractiveness-By Vehicle Type, 2016-2024
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The overall growth is XX in Dec 2016. The
passenger vehicle segment share was XX which is
X less compare to same month of the last year.
Goods vehicle segment share increased from XX to
XX. Goods carrier is getting tough competition
from four wheeler small vehicle segment like Tata
ACE, Mahindra Maxximo etc. In urban markets,
replacement demand has also been an important
growth driver where an improving network of CNG
fuel stations is driving replacement of older
petrol or diesel-powered 3Ws with ones based on
CNG. Despite the fact that usage of CNG is only
mandatory in Delhi, the acceptance for CNG-based
3Ws has caught up in other cities as well
primarily on back of favorable operating
economics.
Fig 17 India Three Wheelers Market BPS
Analysis- By Vehicle Type 2016-2024
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business solutions, help our clients make
powerful future decisions to keep them well ahead
of the game which is the market, and leave a mark
across businesses and communities through our
well-defined ideas and clear cut forecasts.
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