India Three-Wheeler Engine Kit Market is anticipated to reach at USD 2.67 billion in FY2031 at a CAGR of 9.44% for the forecast period between FY2024 and FY2031 and was valued at USD 1.42 billion in FY2023.
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India Three-Wheeler Engine Kit Market is anticipated to reach at USD 2.67 billion in FY2031 at a CAGR of 9.44% for the forecast period between FY2024 and FY2031 and was valued at USD 1.42 billion in FY2023. Three-wheelers are frequently used for commercial passenger and cargo transportation. The demand for three-wheelers in developing countries like India, is influenced by the need for faster and less expensive alternatives for public and goods transportation. However, growing trend of electric three-wheeler adoption for emission free transportation is restricting the growth of India Three-wheeler Engine Kit Market.
As per Society of Indian Automobile Manufacturers, total number of three-wheelers sold in India in FY2023 was recorded at 4,88,768 units as compared to 2,61,385 units in FY2022. But the exports for the same decreased to 3,65,549 in FY2023 from 4,99,730 in FY2022.
Innovative Products Boosting Market Growth
Companies are actively involved in the value chain of engine components by embracing the use of lightweight materials for manufacturing camshafts, valve-train components, and engine kits. By reducing the weight of the engine, the power needed for operating three-wheeler vehicles is decreased, resulting in fuel savings. Moreover, the advent of 3D printing technology has revolutionized the design of engine components, particularly engine kits, leading to a projected expansion of the market in the forecast period.
ICE over Electric – Compared Counterparts
In India, there has been an exemplifying growth in the service industry with the introduction of cab services by industry players such as Ola and Uber. The auto drivers, who mostly look for a low-maintenance option to fulfil their daily transportation needs, usually prefer fossil-fuel-powered auto-rickshaws over electric vehicles. The lack of product intelligence and restricted new product adaptation are supporting the usage of combustion vehicles over electric vehicles, in turn, supporting the engine kit market.
Impact of COVID-19 on India Three-Wheeler Engine Kit Market
The COVID-19 caused a production standstill that hampered the three-wheeler engine kit market in India. The three-wheeler engine kit sector has been set by a mix of supply and demand concerns because of lockdown in the nation. Due to a limited access to port infrastructure and workers, many three-wheeler engine kit manufacturing companies were unable to finish their domestic export shipments.
There has been a significant growth witnessed in value chain network of three-wheeler engine kits, upward trending demand curve in terms of imports and trade especially in automobile and transportation industry. Growing mobility trend towards electric three wheelers will further propel the growth of three-wheeler engine kit market in India.
Report Scope
“India Three-Wheeler Engine Kit Market Overview, FY2017-FY2031F,” is a comprehensive report by Markets and Data, providing in-depth analysis and assessment of the market in India, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 impact, opportunities and forecast between FY2024 and FY2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
Report Attribute |
Details |
Base Year for Analysis |
FY2023 |
Historical Period |
FY2017-FY2022 |
Forecast Period |
FY2024-FY2031 |
Market Size in FY2023 |
USD 1.42 Billion |
Projected Growth Rate |
CAGR of 9.44% from FY2024-FY2031 |
Revenue Forecast in FY2031 |
USD 2.67 billion |
Units |
Revenue in USD billion and Volume in Thousand Units |
Segments Covered |
End-user, Market, Distribution Channel |
Regions Covered |
East, West, Central, North, South |
Key Companies Profiled |
Schaeffler India Limited, American Axle & Manufacturing, Inc., GKN Automotive Limited, Shriram Pistons & Rings Ltd., Dana Limited, Bajaj Auto Limited, Tata Motors Limited, Atul Auto Limited, BorgWarner Inc., Targetone Innovations Pvt. Ltd. (GoMechanics) |
Customization Scope |
15% free report customization with purchase. |
Pricing and Purchase Options |
Avail the customized purchase options to fulfil your precise research needs |
Delivery Format |
PDF and Excel through email (subject to the license purchased) |
In this report, India Three-Wheeler Engine Kit Market has been segmented into following categories:
1. By End-user
1.1 E-commerce
1.2 Inter-City Logistics
1.3 Industrial
2 By Distribution Channel
2.1 OEMs
2.2 Installers
2.3 Distributors
2.4 Retailers
2.5 Others
3 By Market
3.1 Organised
3.2 Unorganised
4 By Region
4.1 East
4.2 West and Central
4.3 North
4.4 South
Key Player Landscape and Outlook
Due to the government's increasing emphasis on electric vehicles to achieve decarbonization targets, prominent manufacturers of three-wheeler vehicles are gradually ramping up production and introducing electric three-wheelers to the market. This shift is expected to have a significant impact on the three-wheeler engine kit market as manufacturers redirect their focus from internal combustion (IC) engines to electric vehicle (EV) solutions. Key players such as Schaeffler India Limited are already leading the way by strategically transitioning to provide engine kits and solutions specifically designed for electric three-wheelers, capitalizing on the growing acceptance of EVs.
For instance, in 2023, Schaeffler India unveiled a cutting-edge two-speed automatic gearbox called 'Twin-Tran' during Autocar Professional's two-day EV Forum. This ground-breaking technology aims to enhance the efficiency of the electric motor it pairs with by automatically selecting the optimal gear based on the vehicle's speed. Initiatives like this by industry leaders are expected to revolutionize the three-wheeler engine kit market in the foreseeable future.
Key Players Operating in India 3W Engine Kit Market
· Schaeffler India Limited
· American Axle & Manufacturing, Inc.
· GKN Automotive Limited
· Shriram Pistons & Rings Ltd.
· Dana Limited
· Bajaj Auto Limited
· Tata Motors Limited
· Atul Auto Limited
· BorgWarner Inc.
· Targetone Innovations Pvt. Ltd. (GoMechanics)
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Table of Content
2. Project Scope & Definitions
3. Impact of Covid-19 on India Three-Wheeler Engine Kit Market
4. Executive Summary
5. Voice of Customer
5.1.1.Brand Recall and Brand Loyalty
5.1.2.Key Attributes for Purchase Decision
5.1.3.Procurement Challenges
5.1.4.Salesperson Effectiveness
5.1.5.Medium of Purchase
5.1.6.Geographical Implications
5.1.7.After-Sales Services
6. India Three-Wheeler Engine Kit Market Outlook, FY2017-FY2031F
6.1. Market Size & Forecast
6.1.1.By Value
6.1.2.By Volume
6.2. By End-user
6.2.1.E-Commerce
6.2.2.Inter-City Logistics
6.2.3.Industrial
6.3. By Distribution Channel
6.3.1.Original Equipment Manufacturers (OEMs)
6.3.2.Installers
6.3.3.Distributors
6.3.4.Retailers
6.3.5.Others
6.4. By Market
6.4.1.Organised
6.4.2.Unorganised
6.5. By Region
6.5.1.East
6.5.2.West and Central
6.5.3.North
6.5.4.South
6.6. By Company Market Share (%), FY2023
7. Market Mapping, FY2023
7.1. By End-user
7.2. By Distribution Channel
7.3. By Market
7.4. By Region
8. Macro Environment and Industry Structure
8.1. Demand and Supply Analysis
8.2. Import Export Analysis
8.3. Value Chain Analysis
8.4. PESTEL Analysis
8.4.1.Political Factors
8.4.2.Economic System
8.4.3.Social Implications
8.4.4.Technological Advancements
8.4.5.Environmental Impacts
8.4.6.Legal Compliances and Regulatory Policies
8.5. Porter’s Five Force Analysis
8.5.1.Bargaining Power of Suppliers
8.5.2.Bargaining Power of Buyers
8.5.3.Substitution Threat
8.5.4.Threat of New Entrant
8.5.5.Intensity of Competitive Rivalry
9. Market Dynamics
9.1. Growth Drivers
9.2. Growth Inhibitors (Challenges and Restraints)
10. Key Player Landscape
10.1. SWOT Analysis of Key Five Market Players
10.2. Competition Matrix of Key Five Market Leaders
10.3. Market Revenue Analysis of Key Five Market Leaders (in %, 2023)
10.4. Mergers & Acquisitions/ Joint Ventures (If Applicable)
10.5. Patent Analysis (If Applicable)
11. Pricing Analysis for Key Five Market Players
12. Case Studies
13. Key Player Outlook
13.1. Schaeffler India Limited
13.1.1. Company Details
13.1.2. Key Management Personnel
13.1.3. Products & Services
13.1.4. Key Market Focus & Geographical Presence
13.1.5. Financials (As reported)
13.1.6. Recent Developments
13.2. American Axle & Manufacturing, Inc.
13.3. GKN Automotive Limited
13.4. Shriram Pistons & Rings Ltd.
13.5. Dana Limited
13.6. Bajaj Auto Limited
13.7. Tata Motors Limited
13.8. Atul Auto Limited
13.9. BorgWarner Inc.
13.10. Targetone Innovations Pvt. Ltd. (GoMechanics)
*Companies mentioned above DO NOT hold any order as per market share and can be changed during course of work
14. Strategic Recommendations
15. About Us & Disclaimer
List of Figure:
Figure 1. India Three Wheeler Engine Kit Market, By Value, In USD Million, FY2017-2031F
Figure 2. India Three Wheeler Engine Kit Market, By Volume, In Unit Thousands, FY2017-2031F
Figure 3. India Three Wheeler Engine Kit Market Share, By End-User Industry, In USD Million, FY2017-2031F
Figure 4. India Three Wheeler Engine Kit Market Share, By End-User Industry, In Unit Thousands, FY2017-2031F
Figure 5. India Three Wheeler Engine Kit Market Share, By Distribution Channel, In USD Million, FY2017-2031F
Figure 6. India Three Wheeler Engine Kit Market Share, By Distribution Channel, In Unit Thousands, FY2017-2031F
Figure 7. India Three Wheeler Engine Kit Market Share, By Market, In USD Million, FY2017-2031F
Figure 8. India Three Wheeler Engine Kit Market Share, By Market, In Unit Thousands, FY2017-2031F
Figure 9. India Three Wheeler Engine Kit Market Share, By Region, In USD Million, FY2017-2031F
Figure 10. India Three Wheeler Engine Kit Market Share, By Region, In Unit Thousands, FY2017-2031F
Figure 11. By End-User Industry Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 12. By Distribution Channel Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 13. By Market Map-Market Size (USD Million) & Growth Rate (%), FY2023
Figure 14. By Region Map-Market Size (USD Million) & Growth Rate (%), FY2023
List of Table: India Three Wheeler Engine Kit Market
Table 1. Pricing Analysis of Products from Key Players
Table 2. Competition Matrix of Top 5 Market Leaders
Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
Table 4. About Us - Regions and Countries Where We Have Executed Client Projects
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