India continues to witness growing |
as export markets including southern |
domestic three wheeler demand coupled |
Asia , Africa and Latin America . |
with increasing manufacturing as well as |
According to “ India Three Wheeler Market |
exports . India ’ s three wheeler market is |
Forecast and Opportunities , 2019 ” the |
categorized into passenger carrier and |
three wheeler market in India is forecast |
load carrier three wheelers . Passenger |
to grow at a CAGR of over 5 % during |
carrier three wheelers are used for public |
2014-19 . During 2014-19 , it is anticipated |
conveyance , while load carrier three |
that three wheelers would witness tough |
wheelers are used for carrying goods and |
competition from Electric Rickshaws , |
materials over short and medium |
Upcoming Bajaj RE Quadricycles and light |
distances . Rising demand for cheap and |
commercial vehicles ( LCVs ). It is |
convenient public conveyance in rural and |
anticipated that micro , small and medium |
semi urban areas and increasing number |
scale enterprises in India would |
of permits being issued by state |
increasingly opt for four wheeler LCVs as |
governments across the country are also |
compared to three wheelers over the next |
playing a major role in driving the India |
five years . However , rising demand from |
three wheeler market over the forecast |
semi urban and rural areas is expected to |
period . The demand for passenger carrier |
keep the three wheeler demand afloat |
three wheelers exceeds that of load |
over the next five years . |
carrier three wheelers in domestic as well | |
Growing domestic demand coupled with |
establishment of new CNG filling station |
increasing three wheeler exports to boost |
in semi urban and rural areas and |
three wheeler market in India during next |
inception of new engine and fuel |
five years . India is the world ’ s largest |
technologies are expected to further boost |
consumer and exporter of three wheelers |
three wheeler market over the next five |
across the globe . Over the last decade , |
years . |
India ’ s three wheeler industry has been |
The demand for passenger carrier three |
exhibiting consistent growth in both |
wheelers exceeds that of load carrier |
domestic sales as well as exports . Sri |
three wheelers in domestic as well as |
Lanka , Bangladesh , Egypt , Nigeria , |
export markets . “ Passenger carrier |
Tanzania , Kenya , Ghana , Guatemala , |
segment accounted for majority of the |
Sudan , Botswana and Nepal are the key |
three wheelers exports in 2013 . Maximum |
export destinations for the country ’ s three |
demand for three wheelers outside India |
wheeler industry . However , over the last |
arises from under developed countries of |
few years , the three wheelers market in |
Africa and South America . Inadequate |
India has been facing increasing |
availability of public transportation , |
competition from light commercial |
underdeveloped logistic infrastructure , low |
vehicles ( LCVs ), Electric Rickshaws and |
per capita income and increasing |
Quadricycle products such as Bajaj RE . |
unemployment are the key factors that |
“ India Three Wheeler Market Forecast and |
contribute to increasing adoption of three |
Opportunities , 2019 ”, a research study on |
wheelers in African countries . |
India ’ s three wheeler industry by TechSci |
Consequently , a number of major India- |
Research , has concluded that the |
based three wheeler manufacturers are |
country ’ s three wheeler market is |
targeting African countries for boosting |
projected to grow at a CAGR of over 5 % |
their exports . Moreover , domestic three |
during 2014-19 . Rising demand for cheap |
wheeler market is likely to grow on |
and convenient public conveyance in the |
account of anticipated demand increase |
country ’ s rural and semi urban areas and |
in rural and semi urban regions of India |
increasing number of permits being issued |
over the next five years ”, said Mr . Karan |
by state governments across the country |
Chechi , Research Director with TechSci |
are playing a major role in driving the |
Research , a research based global |
three wheeler market in India . Moreover , |
management consulting firm . |