Market Overview

Top 5 Vendors in the Global Three-wheel Passenger Carrier Market 2017-2021: Technavio


has announced the top five leading vendors in their recent global
3W PC market
report until 2021. This research report also
lists four other prominent vendors that are expected to impact the
market during the forecast period.

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Technavio has published a new report on the global three-wheel passenger carrier market from 2017-20 ...

Technavio has published a new report on the global three-wheel passenger carrier market from 2017-2021. (Graphic: Business Wire)

The global
3W PC market
accounted for nearly 1.13 million vehicle sales in
2016 where 88% of the sales came from the global 3W PC market. The 3W PC
segment dominates the global 3W market as 3W PCs are considered as the
cheapest transport vehicles that can be afforded by various private
transport operators and by individuals who earn by transport jobs. India
led the global 3W market by 90.56% market share in 2016. Major
manufacturers like Bajaj Auto, Piaggio, and Mahindra and Mahindra
accounted for 87.3% share of the Indian 3W PC market in 2016. Asian
countries like Sri Lanka, Bangladesh, and Nepal and African countries
like Nigeria, Ghana, Tanzania, and Kenya accounted for more than 90% of
the exports in the Indian 3W PC market.

Competitive vendor landscape

The 3W PC market, especially in India, is highly concentrated as 87.3%
of the market share is contributed by three major players. They are
Bajaj Auto, Piaggio, and Mahindra and Mahindra. Even though Bajaj Auto
leads the global 3W PC market with 46.5% market share, it only
contributes about 2% in the 3W goods carrier market. Piaggio, on the
other hand, leads the 3W goods carrier market with 52% market share and
stands in the second position in the 3W PC market with a share of 30.4%.

Siddharth Jaiswal, an industry expert at Technavio for research on automotive
, says, "The market is highly concentrated
with five players constituting to nearly 90% of the global 3W PC market.
Most the players among them are from India. The competition between the
manufacturers is increasing, owing to the promising large volumes of
sales in new markets like the underdeveloped and developing countries
across the globe. Hence, the manufacturers are increasing their
geographical market presence and product portfolios to attract maximum
sales. Nepal, Indonesia, and Taiwan are examples of such countries.

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Top five 3W PC market vendors in the downstream oil and gas industry

Atul Auto

Atul Auto manufactures and sells mainly three-wheelers in the passenger
carrier and goods carrier segments. Other than three-wheelers, the
company also manufactures electric golf carts. The company is also
planning to launch four-wheel LCVs.

Bajaj Auto

Bajaj Auto an Indian two-wheeler and three-wheeler manufacturing
company. The product portfolio includes motorcycles, scooters, and auto
rikshaws. It is a global leader in the 3W passenger vehicle segment. It
accounted for 46.5% market share in the Indian 3W PC segment in 2016. It
also is the world's sixth largest motorcycle manufacturer. It is a part
of Bajaj Auto Group.

Mahindra and Mahindra

Mahindra and Mahindra is an Indian company that manufactures
two-wheelers, three-wheelers, passenger cars, and commercial vehicles.
It is the largest tractor manufacturer globally and is a leading
passenger vehicle manufacturer in India. It is a part of Mahindra Group,
and it has subsidiaries such as Mahindra two-wheelers and SsangYong


Piaggio, an Italian company, produces motorcycles and compact commercial
vehicles. It has seven brands under its portfolio. Vespa and Piaggio are
the popular brands of the company across the world. Piaggio operates in
over 50 countries and has six research and development (R&D) centers
worldwide. Piaggio entered the Indian market in 1998 with a strong 3W
portfolio, especially in the goods carrier segment.

Qiangsheng Electric Tricycle Factory

Qiangsheng Electric Tricycle Factory is one of the largest manufacturers
and suppliers of electrical and battery rickshaws. It is also
specialized in the R&D, production, and sales of e-rickshaw spare parts
in China.

Some of its products include battery rickshaws, cargo tricycles, cargo
tricycles with cabins, solar rickshaws, and Indian auto rickshaws. The
company owns several patents for its double rear axles, folding seats,
gear box, multifunctional shed, and electric insulation box.

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About Technavio

is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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