The India three wheeler market is forecast to grow to a value of around $3.41 billion by the end of 2017. Rising population, growing commercialization, increasing disposable incomes and rising demand for transportation are fuelling the demand for three wheelers in the country
India's Automobile sector has grown rapidly as a result of rising population continually contributing to the demand for transportation. The market for three wheelers, both passenger and commercial hold bright prospects in terms of sales and production. The demand for three wheelers witnessed significant rise when Piaggio introduced its three wheelers. India is the world's largest three wheeler market, accounting for a share of over 40% in the global market. In India, three wheelers are one of the most preferred means of intra city transportation. Over the past few years, the market for three wheelers used as loading carriers has also increased remarkably as a result of rising industrialization, growth of commercial establishments contributing to the need for additional carriage.
India is the leading producer, consumer and exporter of three wheelers. Majority of the market was previously concentrated in major metropolitan regions but now the market has grown extensively across all major Tier I cities in the country.
The market for three wheelers is continuously increasing with the rising need for convenient and cheap transportation. Delhi, Mumbai and Bangalore are the largest markets for three wheelers. The consumer demographic and massive commercialization are considered the major driving factors for this industry which are likely to drive the market over the coming years.
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