Production volume of three wheelers India FY 2008-2022

Three-wheeler production volume stood at over 758 thousand units across India at the end of the fiscal year 2022. The transport sector across the south Asian country was ranked third in 2017 in terms of employment opportunities, after textiles and apparel and food processing industries.

India – the uncrowned king of three-wheeler exports

Interestingly, India has emerged to be a notable exporter of three-wheeler vehicles to many of these foreign markets. In the financial year 2021, India exported nearly 400 thousand units of three-wheelers to a variety of international destinations. However, the Asian and African markets, due to volatility in forex rates and economic downturns, often fluctuate and impact the demand from time to time. In fiscal year 2020, Bajaj Auto Limited, one of the automobile manufacturing giants in India, exported more than half of its export to Southeast Asian countries. Other major export destinations included Latin America and Africa.

Leading three-wheeler manufacturers

The three-wheelers in India are extensively used for goods carriage and last-mile passenger transportation. In the financial year 2021, the reasonably consolidated three-wheeler industry consisted of numerous manufacturers. The leading players like Bajaj Auto, Piaggio, and M&M accounted for over 90 percent of the total market share. While Piaggio ruled the load segment of the trade, Bajaj Auto was way ahead in the passenger division of the business. In the fiscal year 2020, Bajaj Auto sold more than 661 thousand units of three-wheelers all over the country.