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. |