23 Apr 2025
Strong Market Expansion Expected in the Coming Years
India’s three-wheeler market is growing steadily and is expected to continue its strong momentum. According to a new report by IMARC Group titled "India Three-Wheeler Market Size, Share, Trends and Forecast by Vehicle Type, Passenger Vehicle, Fuel Type, and Region, 2025-2033," the market size reached USD 379.2 million in 2024. Looking ahead, the market is projected to reach USD 770.7 million by 2033, growing at a healthy rate of 8.2% from 2025 to 2033.
What’s Driving This Growth?
This growth is due to several key factors. First, rapid urbanisation in India is creating a greater need for affordable and flexible transport options. As cities continue to expand, three-wheelers have become an important solution for last-mile connectivity. They are small, easy to move through traffic, and can reach areas where larger vehicles cannot go.
In addition, the Government of India has been actively promoting electric mobility. Incentives and schemes such as FAME are helping more people and businesses shift to electric vehicles. As a result, electric three-wheelers are becoming more popular across urban and semi-urban areas.
Changing Trends in the Market
The three-wheeler market is also seeing new trends. More companies are introducing electric and hybrid vehicles to reduce pollution and meet new rules. At the same time, the rise of e-commerce has increased demand for cargo transport. Small businesses and delivery services are turning to three-wheelers to carry goods quickly and affordably.
Furthermore, the availability of charging stations is improving. Along with easy financing options, this has made it easier for individuals and companies to buy electric three-wheelers. These vehicles are also used in public transportation, offering a cleaner and more cost-effective alternative to traditional fuel-based vehicles.
Breakdown of the Market
The India three-wheeler market is divided into several segments based on vehicle type, passenger capacity, fuel type, and region. In terms of vehicle type, the market includes passenger carriers and load carriers. When it comes to passenger capacity, the segment is further divided into 4-seater and 6-seater options, depending on the space and seating requirements. Looking at fuel type, the market includes petrol/CNG, diesel, and electric three-wheelers. Among these, electric variants are showing strong growth due to rising environmental concerns and support from the government. Region-wise, the market is spread across North India, South India, East India, and West and Central India, with each region contributing based on urban development, transport demand, and infrastructure availability.
Recent Developments in the Market
Omega Seiki (March 2025)
In March 2025, Omega Seiki launched a new electric three-wheeler named NRG. It offers a long driving range of 300 km and is priced at ₹3.55 lakh. This launch introduces a budget-friendly option to India’s electric vehicle (EV) segment, supporting the shift towards cleaner transportation.
Bajaj Auto (February 2025)
In February, Bajaj Auto unveiled its new electric three-wheeler model, called the Bajaj GoGo. The P5009 variant comes with a battery range of 251 km and costs ₹3.26 lakh. Key features include dual-speed automatic transmission, Hill Hold Assist, LED lights, and a five-year battery warranty.
Hyundai and TVS Motor (January 2025)
In January, Hyundai and TVS Motor presented a concept electric three-wheeler. This model is designed to serve many roles such as delivery vehicle, passenger auto, and even wheelchair-accessible transport. It has a modular design, adjustable height, and is compact enough for narrow city streets.
TVS King EV MAX (January 2025)
Also in January, TVS Motor launched its first electric three-wheeler — the TVS King EV MAX. Priced at ₹2.95 lakh, it has a certified range of 179 km and supports fast charging (0–80% in 2 hours and 15 minutes). Extra features include Bluetooth connectivity and real-time diagnostics. The company plans to expand its availability across India in the coming months.
For the latest updates on the truck industry, follow us:
Facebook - https://bit.ly/TruckFB
Instagram - https://bit.ly/TruckInsta
Youtube - https://bit.ly/TruckYT
