Tech Startups in 3W Electric Sector Seek To Manufacture Another Lower Running Cost Green Mobility Option That Is Expected To Boost The 3W Electric Market In India: Ken Research

GURUGRAM, India, April 19, 2021 / PRNewswire / –

Main conclusions

  • Electric 3-wheelers only accounted for about 1% of the 2.8 lakh electric vehicles that received purchase subsidies under phase 1 of the Faster Adoption and Manufacturing of Electric Vehicles (FAME-I) program between April 2015-March 2019.
  • Amazon plans to add 10,000 electric rickshaws to its delivery fleet in India by 2025. Likewise, furniture giant IKEA and retail outlets like Big Basket, Flipkart and Grofers are increasingly relying on electronic rickshaws for clean and economical last mile delivery.

Emerging trends in the 3W electric market: The government of India began to allow the sale of e-3W without a battery, which significantly reduces the cost of purchase. The lightweight and compact nature of the lithium-ion batteries, used in the e-3W, makes them well suited for the battery swap model. In this model, a discharged battery can be replaced immediately with a fully charged battery, providing consumers with an experience similar to refueling ICE vehicles. While the initial cost can be reduced by around 30-40% for e-3W without battery, its operating cost will be relatively higher than for e-3W with battery. E-3Ws with high guaranteed usage rates are a more profitable prospect for businesses as they become cheaper to operate per km with increased usage. This has been recognized by the big companies in the Indian market.

Government initiatives to support three-wheeled electric vehicles: The government of India has been sensitive to the recognition of the need to switch to electric mobility and has developed policies and programs to steer growth in this direction on numerous occasions. To boost electric mobility, the government intends to support through subsidies around 5 lakh three-wheeled electric vehicles in the country. Emphasis is also placed on the creation of an electric charging infrastructure to promote use. Phase II of the FAME India program is being implemented with total budget support of ₹ 10,000 crore.

In addition to the measures taken at the national level, several state governments have also committed to promote electric three-wheelers in their states to stimulate the growth of the market. For example, Delhi paves the way for an e-3W market by offering both financial and non-financial incentives such as an open permit system, targeted purchase subsidies, loan interest subsidies, rental scheme- sale, demolition incentives without additional fee permit exchange system, etc. The state of Kerala’s EV policy offers another bold step – the proposal to only grant commercial permits to E-3Ws.

Impact of Covid-19: The sudden onset of the pandemic posed a significant threat to From India electric three-wheeler market as vehicle production was hampered by the lockdown. For a market trying to strengthen its position in the industry, COVID 19 has been a blow. However, according to industry experts, the three-wheeled electric vehicle market will quickly recover from the setbacks of Covid-19 compared to their ICE counterparts and their outlook remains strong over the medium term. According to the electric vehicle market forecast by Frost and Sullivan, electric rickshaws, electric cars and electric two-wheelers are the most promising segments for electrification in India and are expected to amount to more than four million units by 2025. Investing in a three-wheeled electric vehicle is likely to help preserve air quality and reduce health risks in communities. Recently, the “Switch Delhi” campaign was launched by Delhi Chief Minister, Mr. Arvind Kejriwal for the promotion of electric vehicles in town. In addition, after the implementation of the Delhi policy on electric vehicles August 2020, three-wheelers have become the most popular EV segment in the city.

Ken Research analysts in their latest publication “India 3W Electricity Market Outlook to 2025 – By Wheel Type (Passenger, Cargo, Personnel), Vehicle Category (Transport and Non-Transport), Registration by Region (North, East, West, South) and state registration observed that the 3-wheel electric market in India has great growth potential supported by numerous government initiatives. Electric three-wheelers would offer the lowest cost of transportation, with e-commerce delivery coming and an increased need for last mile connectivity solution According to the electric vehicle market forecast by Frost and Sullivan, rickshaws, e-autos and e-two-wheelers are the most promising segments for electrification in India and are expected to be over four million units by 2025. At the start of the transition, when the supporting infrastructure has not matured sufficiently, financial incentives as well as non-financial incentives can help shape the transition to the e-3W. Policy instruments such as scrapping incentives will further help accelerate the adoption of the e-3W.

Key segments covered

  • By type of Wheeler
  • Through Vehicle Category
  • Registration by region
  • State registration

3 Wheeler Makers covered

  • Bajaj Auto Ltd
  • Piaggio Vehicles Pvt Ltd
  • Atul Auto Ltd
  • Mahindra & Mahindra Limited
  • Electric vehicle Yc
  • Tvs Motor Company Ltd
  • JS Auto (P) Ltd
  • Continental Engines Pvt Ltd
  • Saera Electric Auto Pvt Ltd
  • Mahindra Reva Electric Vehicles Pvt Ltd
  • Vani Electric Vehicles Pvt Ltd
  • Champion Poly Plast
  • Terra Motors India Pvt Ltd
  • Dilli Electric Auto Pvt Ltd
  • GK Rickshaw
  • Best Way Pvt Ltd Agencies
  • Thukral Electric Bikes Pvt Ltd
  • Scooters India Ltd
  • Mini Metro Ev LLP
  • Unique international
  • Grd Engines
  • Pubang Etron Electric Motor Pvt Ltd
  • Electric energy vehicles
  • Zeniak Innovation India Ltd
  • Allfine Industries Pvt Ltd
  • Delta Autocorp Llp

3 Wheeler Makers covered

  • YC electric vehicle
  • Mahindra & Mahindra Limited
  • Saera Electric Auto Pvt Ltd
  • Mahindra Reva Electric Vehicles Pvt Ltd
  • Vani Electric Vehicles Pvt Ltd
  • Champion Poly Plast
  • Terra Motors India Pvt Ltd
  • Dilli Electric Auto Pvt Ltd
  • GK Rickshaw
  • Best Way Pvt Ltd Agencies
  • Thukral Electric Bikes Pvt Ltd
  • Mini Metro Ev LLP
  • Unique international
  • Grd Engines
  • Pubang Etron Electric Motor Pvt Ltd
  • Electric energy vehicles
  • Zeniak Innovation India Ltd
  • JS Auto (P) Ltd
  • Allfine Industries Pvt Ltd
  • Delta Autocorp Llp

Key target audience

  • OEM of E-Three Wheeler
  • EV Chargers Manufacturers
  • EV Battery Manufacturers
  • Consulting companies
  • Industry associations
  • Regulators

Time period captured in the report: –

  • Historical period – 2016-2020
  • Forecast period – 2020-2025

Main topics covered in the report

  • India E – 3-wheeler registration volume
  • India E – Type 3 wheels (in units)
  • India E – 3-wheel vehicle category (in units)
  • India E – Registration of 3-wheeled vehicles by region
  • India E – Registration of 3-wheeled vehicles by state
  • India E – 3 Wheel Manufacturers Market Share
  • India 3 Wheeler registration volume
  • India 3 Wheeler Type (in units)
  • India 3-wheel vehicle category (in units)
  • India Three Wheeler Registration by Region
  • Three Wheeler Vehicle Registration in India by State
  • Market share of 3 wheel manufacturers in India
  • Future Market Size and Segmentation, 2020-2025F

For more information on the research report, refer to the link below:

India 3W Electricity Market Outlook to 2025 – By Wheel Type (Passenger, Cargo, Personnel), Vehicle Category (Transport and Non-Transport), Registration by Region (North, East, West, South) and state registration

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India Commercial Two-Wheeled Vehicle Market Outlook to 2025: Driven by Changing Consumer Buying Habits and Rising Demand from Tier II and III Cities

The report covers various aspects including the current scenario of the Grocery Delivery, Food Delivery, Bike Taxi, E-commerce and Courier Delivery market in India.

It also provides a detailed analysis of the impact of COVID-19 on the market and a detailed explanation of the competitive scenario, including a cross-comparison between the major players, with SWOT concluding with the future scope and analyst recommendations.

India Two Wheel Rental Market Outlook to 2025 – Through Introduction of Electric Vehicles and Adoption of Dockless System in Vehicles

The report covers various aspects including market size (by GTV and fleet size), business cycle, timing, market segmentation by organized and unorganized market (by GTV and fleets), by ownership and location. (organized market fleets), by large cities (Bangalore, Goa, Bombay, Pune, Jaipur, Delhi NCR, Hyderabad), by type of two-wheeler (scooters, motorcycles and electric bikes), by type of bike (commuter, sports bike & high-end), by purpose (travel and leisure), by booking package (schedule, daily, weekly and monthly), by online reservation (website and app) and offline (physical store, via call), by intra-city and long-city reservations, FY’2020.

India used two-wheeler market outlook until 2025 – due to increasing labor migration and aversion to using public transport

India is the largest producer and manufacturer of two-wheelers in the world followed by the Republic of China. Rising fuel prices are one of the main growth drivers for two-wheelers due to their improved fuel efficiency. In India, commuters of all age groups use motorized vehicles, especially two-wheelers due to population growth and rapidly increasing road congestion, making two-wheelers the most common mode of transportation. suitable and most practical in urban areas.

Contact us:
Ken Research
Ankur Gupta, Marketing and Communications Manager
[email protected]
+ 91-9015378249

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SOURCE Ken Research


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