India Three Wheeler Market to Grow at Over 5% CAGR During 2014-19, Finds TechSci Research Study
Summary
Rising demand for cheap and convenient public conveyance in the country’s rural and semi urban areas and increasing number of permits being issued by state governments across the country are playing a major role in driving the three wheeler market in India.Moreover, establishment of new CNG filling station in semi urban and rural areas and inception of new engine and fuel technologies are expected to further boost three wheeler market over the next five years.Sri Lanka, Bangladesh, Egypt, Nigeria, Tanzania, Kenya, Ghana, Guatemala, Sudan, Botswana and Nepal are the key export destinations for the country’s three wheeler industry.Rising demand for cheap and convenient public conveyance in the country’s rural and semi urban areas and increasing number of permits being issued by state governments across the country are playing a major role in driving the three wheeler market in India.Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in India’s three wheeler industry.