India Retains Top Spot in Electric Three-Wheeler Market: IEA Report

New Delhi, May 18: India has once again emerged as the world’s largest market for electric three-wheelers (e-3Ws), maintaining its lead for the second consecutive year, according to the latest Global EV Outlook 2025 released by the International Energy Agency (IEA).

The report highlights that sales of electric three-wheelers in India surged by nearly 20% in 2024, reaching approximately 7 lakh (700,000) units. This growth underscores the country’s pivotal role in driving global momentum toward sustainable and affordable mobility solutions, particularly in the light commercial and public transport sectors.

The Paris-based IEA noted that while the overall global three-wheeler market contracted by 5% in 2024, electric variants defied the trend with a growth of over 10%, crossing the 1 million mark in global sales. Electric three-wheelers now account for nearly one-quarter of all three-wheeler sales worldwide, a significant rise from the one-fifth share recorded in 2023.

“India continues to drive most of the growth in the global electric three-wheeler market,” the IEA stated, attributing the expansion to strong policy support, rising fuel prices, and increasing consumer awareness of environmental issues.

The steady growth of e-3Ws in India is also seen as a crucial component of the country’s broader electric mobility and emissions reduction goals, particularly in urban and semi-urban areas where three-wheelers play a vital role in last-mile transportation.

Experts believe that continued investment in battery technology, charging infrastructure, and favorable regulatory frameworks will further bolster India’s leadership in this segment and potentially set a benchmark for other emerging markets aiming to decarbonize their transport sectors.