India and Sri Lanka Electric Three Wheeler Market Size and Competitive Analysis by 2027

The electric three wheelers market in Sri Lanka was valued INR 2,604.2 Lakh in 2019 and is projected to reach INR 8,624.7 Lakh by 2027; it is expected to grow at a CAGR of 33.4% from 2020 to 2027.

Governments in of various statesof India are taking the initiative for the adoption of electric three-wheelers. For instance, in March 2018, the Ministry of Heavy Industries & Public Enterprises, India, launched Phase-II of the FAME India Scheme, which was initiated on 1st April 2019 for next three years, with total budgetary support of US$ 1.39 billion. This phase is launched to mainly support the electrification of public & shared transportation and aims to support through subsidies 7000 e-Buses, 5 lakh e-3 Wheelers, 55000 e-4 Wheeler Passenger Cars, and 10 lakh e-2 Wheelers. This phase of the FAME Scheme is looking forward to setting up adequate public charging infrastructure to develop confidence among EV users. With this, the ministry of heavy industries & public enterprises is looking ahead for involvement and active participation of various stakeholders, including industries and public sector enterprises (PSEs) and government agencies. The key players in the market are aiming at developing electric vehicles. For instance, the Piaggio& C. SpA, and Italian motor vehicle manufacturer launched Piaggio Ape E-City under its range of Piaggio Ape Electrik Electric 3-Wheeler. The E-auto comes with a swappable Lithium-ion battery and can cover the range of around 70-80 km when charged once. Furthermore, in August 2019, Euler Motors announced that it would launch electric three-wheeler light commercial cargo vehicles in India in early 2020.

Electrification of auto-rickshaws plays an important role in meeting the transport requirement of many large and medium Indian cities and is critical for reducing air pollution and providing clean mobility solutions. The auto-rickshaws, generally three-wheelers, with both four and two-stroke internal combustion engines, are fuelled by Diesel, Compressed Natural Gas (CNG), and Liquefied Petroleum Gas (LPG). According to a recent study by TERI, an average conventional LPG auto emits approximately 0.005 tonnes of Particulate Matter-10 (PM10) in a year and about 3.72 tonnes of carbon dioxide in a year (TERI, 2018)1. On the other hand, electric auto-rickshaws (e-autos) provide zero tailpipe emission and no-noise solution while meeting the mobility needs of people.The urban transportation system in India includes various modes, with private transport (cars, two-wheelers, and cycles), public transport (metro, rail and city buses) and intermediate public transport, IPT, (auto-rickshaws and taxis) that serve an essential role in the transportation systems of the city. Within the urban transport framework, IPT contributes 3 to 8% of the daily trips (EMBARQ). Within the IPT segment, auto-rickshaws in particular act as cost and time effective mode of travel, especially in cities where there is inadequacy or absence of public transport. In the current scenario, despite the rise of app-based taxi services, auto-rickshaws continue to serve as a crucial mode to meet the mobility demand.

The India and Sri Lankaelectric three wheelers market is expected to grow at a good CAGR during the forecast period. The National Climate Change Policy of Sri Lanka has been developed to provide supervision and directions for all the stakeholders to address the unfavourable impacts of climate change effectively and efficiently. It contains a mission, a vision, goals, and a set of guiding principles followed by broad policy statements under the headings Vulnerability, Adaptation, Mitigation, Sustainable Consumption and Production, Knowledge Management, and General Statements. The transport sector strategy is stated as “taking action to promote integrated transportation systems, low emission fuels, and improved fuel efficiency, taking into consideration the long-term sustainability of the existing resources.”

India Electric three wheelers market Revenue and Forecasts to 2027 (INR Lakh)

India and Sri LankaElectric three wheelers market–Segmentation

India Electric three wheelers market – By Type

• E-Auto (High Speed)
  • People Carrier
  • Goods Carrier
  • Special Vehicles
• E-Rickshaw (Low Speed)
  • People Carrier
  • Goods Carrier
  • Special Vehicles

Sri Lanka Electric three wheelers market – By Type

• E-Auto (High Speed)
  • People Carrier
  • Goods Carrier
  • Special Vehicles
• E-Rickshaw (Low Speed)
  • People Carrier
  • Goods Carrier
  • Special Vehicles

India and Sri Lanka Electric three wheelers Market-Companies Mentioned

• Gayam Motor Works Pvt. Ltd
• Exide Industries Limited
• Green Shuttle Technology Pvt Ltd
• Dilli Electric Auto Pvt Ltd
• REEP Industries Private Limited
• DSF Industries
• Adapt Motors Pvt. Ltd
• SAARTHI e-RICKSHAWS
• SL Mobility
• KSL Cleantech Limited
• Omega Seiki Pvt. Ltd
• Altigreen
• OK Play EV
• LOHIA AUTO INDUSTRIES
• Kinetic Green Energy & Power Solutions Ltd
• ATUL Auto Limited
• Piaggio& C. SpA
• Bajaj Auto Ltd
• J.S. AUTO (P) LTD.
• Speego Vehicles Co Pvt Limited
• Mahindra & Mahindra Ltd.
• Scooters India Limited
• TVS Motor Company
• Terra Motors Corporation
• XiangheQiangsheng Electric Tricycle Factory

India and Sri Lanka Electric Three Wheeler Report Scope