DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/33psx8/india_three) has announced the addition of the "India Three Wheeler Market Forecast and Opportunities, 2017" report to their offering.
According to India Three Wheeler Market Forecast and Opportunities, 2017, the market for three wheelers in India is expected to witness phenomenal growth. The changes in FDI policies and booming retail sector in the country are driving the growth for commercial loading three wheelers. The rising population and increasing need for affordable and convenient transportation is fueling the market for passenger three wheelers. The market for commercial vehicles is expected to grow significantly over the next five years and its share in the overall three wheeler market is also expected to increase in the near future. The major players in the Indian three wheeler market include Bajaj Auto, Piaggio, Mahindra and Mahindra, TVS motors, Scooter India and Atul Auto, with Bajaj Auto accounting for the highest share in the market.
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 a 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 intracity 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.
According to a recently published report, India Three Wheeler Market Forecast and Opportunities, 2017, the market value for three wheelers in India is expected to reach up to USD 3.41 billion by the end of 2017. India is the leading producer, consumer and exporter of three wheelers. The 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.
Companies Mentioned:
- Atul Auto Limited
- Bajaj Auto Limited
- Mahindra & Mahindra
- Piaggio Vehicles Private Limited
- Scooter India Limited
- TVS Motor Company
For more information visit http://www.researchandmarkets.com/research/33psx8/india_three.
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