Manufacturers are increasing their geographical market presence and product portfolios to attract maximum sales.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global three-wheeler (3W) goods carrier market in their latest research report. This report also lists four other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for 3W goods carriers is highly competitive in nature. The market is characterized by the presence of a few dominant players who account for more than 80% of the overall market share. Four of the prominent players are based out of India while China is the home for a majority of the other prominent vendors in the market space.
According to Siddharth Jaiswal, a lead analyst at Technavio for research on automotive manufacturing, “The competition between the manufacturers is rapidly increasing owing to the huge opportunities for growth in new markets in underdeveloped and developing countries. As a result, the manufacturers are increasing their geographical market presence and product portfolios to attract maximum sales.”
Top five vendors in the 3W goods carrier market space
Atul Auto manufactures and sells mainly 3Ws in the passenger carrier and goods carrier segments. The production plant is situated in Gujarat, India, with 48,000 vehicles per annum production capacity. Other than 3Ws, the company also manufactures electric golf karts and is planning to launch 4W LCV.
Key products: Pickup Van Standard, Delivery Van Carrier, Pickup Van Highdeck, Passenger Carriers, GEM Cargo/Cargo XL, GEM Paxx (Passenger Gasoline and Diesel), Gemini (Passenger Carriers with Gasoline, Diesel, CNG, and LPG), and Elite Passenger Carrier.
Mahindra and Mahindra
Mahindra and Mahindra manufactures 2Ws, 3Ws, passenger cars, and commercial vehicles. It is the largest tractor manufacturer globally and a leading passenger vehicle manufacturer in India. It is a part of Mahindra Group and has subsidiaries such as Mahindra 2Ws and SsangYong Motor and holds 51% share in Peugeot Motorcycles.
Key products: ALFA DX, ALFA Champ, ALFA Comfy, ALFA, ALFA PLUS, and ALFA CNG.
PIAGGIO 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. The company has operational presence in over 50 countries and has six R&D centers worldwide.
Key products: Ape Xtra DLX, Ape City Smart, Ape City Diesel, Ape High Body, Ape Xtra, Ape Xtra LD, Ape Delivery Van, and Motorized Tipper (Waste Management).
Scooters India designs, manufactures, and markets a wide variety of passenger and cargo 3Ws running on diesel, electric, and CNG. It markets products under the brand name Vikram, which are designed according to the customer requirements and are available in different variants, including delivery vans, load carriers, chasis, ambulance, and saloon (personnel carriers). It serves customers in Germany, Italy, Sudan, Nigeria, Nepal, and Bangladesh. It is also supported by regional sales offices and strong dealer network (over 150 dealers) in India.
Key products: Vikram 750D, Vikram 450D (STG), Vikram 1000 (CG), Vikram 1500 (CG), and Vikram 450D.
Qiangsheng Electric Tricycle Factory
Qiangsheng Electric Tricycle Factory manufactures and supplies electrical and battery rickshaws and specializes in the R&D, production, and sales of spare parts of e-rickshaws in China. The company owns several patents for its double rear axles, folding seats, gear box, multifunctional shed, and electric insulation box. It serves customers in South and Southeast Asia, Middle East, Africa, and South America by selling its main products including Prince Charming tricycle, Beetle tricycle, Cool Wind tricycle, Easy Passenger Model tricycle, and Cargo Model tricycle.
Key products: QS – A, QS – AS3, QS – AO, QS – AS6, QS – B, QS – D Classic, QS – D (new), QS – D (SAHA), QS – D (mini), QS – A, and QS – A.
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