Market Overview:
The global electric 3-wheeler market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electric 3-wheelers for passenger and load carriage applications. Additionally, the growing awareness about environment-friendly transportation is also propelling the growth of the global electric 3-wheeler market. However, high initial cost and lack of charging infrastructure are some of the factors restraining the growth of this market. On basis of type, lead acid battery segment is expected to account for major share in terms revenue in 2018 and it will continue its dominance during forecast period as well.
Product Definition:
An electric 3-wheeler is a vehicle that has three wheels and is powered by an electric motor. Electric 3-wheelers are becoming increasingly popular due to their low cost of ownership and environmental benefits.
Lead-acid Battery:
Lead-acid battery, commonly known as the lead battery, is a type of electrochemical storage device that makes use of the chemical reaction between positive and negative charged ions to store energy. The stored energy can be used to power various devices such as electric vehicles (EV) or portable electronics. Lead-acid batteries are widely used across several end-use industries including automotive, consumer electronics & appliances and power generation owing to its low cost compared to other rechargeable batteries in the market.
Lithium-Ion Battery:
Electric three-wheelers are motorized vehicles that can be operated on the basis of an electric drive system as well as on conventional fuel. The lithium-ion battery is used in such vehicles for providing electricity to the electric motors, which then drives the vehicle’s drivetrain. Lithium ion (Li-ion) batteries are widely used owing to their high energy density and lightweight properties.
Application Insights:
The passenger carrier segment dominated the global electric 3-wheeler market in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing demand for passenger vehicles among all age groups of a population, especially in developing countries like China and India. In addition, governments are investing heavily in promoting public transportation systems on a large scale which will result in high demand for electric three-wheelers as an alternative mode of transport.
The load carrier application segment is expected to grow at a CAGR of XX% from 2018 to 2030 owing to rising industrialization and urbanization projects taking place across various regions including Asia Pacific, Central & South America and Middle East & Africa which require heavy machinery for construction work such as earthmoving equipment, cement mixers etc., These types of vehicles have been proven effective not only on roads but also on narrow paths oralleys where other conventional four- wheeled trucks cannot go due to lack of space or clearance.
Regional Analysis:
North America is expected to dominate the global market over the forecast period. The growth can be attributed to increasing demand for electric vehicles and growing investments in public transportation. Moreover, presence of major players such as AMTRAK, Inc.; Greenbrier Companies; New Flyer Industries; and United Parcel Service of America, Inc., has led to high penetration rates of electric three-wheelers in this region.
Asia Pacific is anticipated to witness significant growth over the next eight years owing to increasing government initiatives for promoting e-vehicle adoption across countries such as China and India. Furthermore, rising disposable income coupled with rapid urbanization will drive regional product demand further. Rising awareness regarding environment protection along with stringent regulations by regulatory bodies such as ULEB (Unified European Battery Directive) are some factors that have driven industry expansion in Europe thus far.
Growth Factors:
- Increasing demand for electric 3-wheelers from the last mile delivery segment
- Growing popularity of electric 3-wheelers as a pollution-free urban transport solution
- Favorable government policies and initiatives to promote electric vehicles
- Rising consumer awareness about the benefits of electric vehicles over traditional petrol/diesel vehicles
- Technological advancements that make electric 3-wheelers more efficient and affordable
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric 3-Wheeler Market Research Report
By Type
Lead-acid Battery, Lithium-Ion Battery
By Application
Passenger Carrier, Load Carrier
By Companies
Mahindra & Mahindra, Atul Auto, Piaggio, Lohia Auto Industries, Kinetic Engineering, Zongshen, BESWAY, HuaiHai, JIANGSU KINGBON VEHICLE, LOVOL, Mahindra & Mahindra
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
174
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Electric 3-Wheeler Market Report Segments:
The global Electric 3-Wheeler market is segmented on the basis of:
Types
Lead-acid Battery, Lithium-Ion Battery
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Carrier, Load Carrier
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Mahindra & Mahindra
- Atul Auto
- Piaggio
- Lohia Auto Industries
- Kinetic Engineering
- Zongshen
- BESWAY
- HuaiHai
- JIANGSU KINGBON VEHICLE
- LOVOL
- Mahindra & Mahindra
Highlights of The Electric 3-Wheeler Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lead-acid Battery
- Lithium-Ion Battery
- By Application:
- Passenger Carrier
- Load Carrier
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric 3-Wheeler Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electric 3-wheelers are electric vehicles that have three wheels. They are typically smaller than traditional motorcycles and can be ridden without a license or insurance.
Some of the major companies in the electric 3-wheeler market are Mahindra & Mahindra, Atul Auto, Piaggio, Lohia Auto Industries, Kinetic Engineering, Zongshen, BESWAY, HuaiHai, JIANGSU KINGBON VEHICLE, LOVOL, Mahindra & Mahindra.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric 3-Wheeler Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric 3-Wheeler Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric 3-Wheeler Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electric 3-Wheeler Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electric 3-Wheeler Market Size & Forecast, 2018-2028
4.5.1 Electric 3-Wheeler Market Size and Y-o-Y Growth
4.5.2 Electric 3-Wheeler Market Absolute $ Opportunity
Chapter 5 Global Electric 3-Wheeler Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Electric 3-Wheeler Market Size Forecast by Type
5.2.1 Lead-acid Battery
5.2.2 Lithium-Ion Battery
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Electric 3-Wheeler Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Electric 3-Wheeler Market Size Forecast by Applications
6.2.1 Passenger Carrier
6.2.2 Load Carrier
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric 3-Wheeler Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric 3-Wheeler Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Electric 3-Wheeler Analysis and Forecast
9.1 Introduction
9.2 North America Electric 3-Wheeler Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Electric 3-Wheeler Market Size Forecast by Type
9.6.1 Lead-acid Battery
9.6.2 Lithium-Ion Battery
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Electric 3-Wheeler Market Size Forecast by Applications
9.10.1 Passenger Carrier
9.10.2 Load Carrier
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Electric 3-Wheeler Analysis and Forecast
10.1 Introduction
10.2 Europe Electric 3-Wheeler Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Electric 3-Wheeler Market Size Forecast by Type
10.6.1 Lead-acid Battery
10.6.2 Lithium-Ion Battery
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Electric 3-Wheeler Market Size Forecast by Applications
10.10.1 Passenger Carrier
10.10.2 Load Carrier
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Electric 3-Wheeler Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Electric 3-Wheeler Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Electric 3-Wheeler Market Size Forecast by Type
11.6.1 Lead-acid Battery
11.6.2 Lithium-Ion Battery
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Electric 3-Wheeler Market Size Forecast by Applications
11.10.1 Passenger Carrier
11.10.2 Load Carrier
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Electric 3-Wheeler Analysis and Forecast
12.1 Introduction
12.2 Latin America Electric 3-Wheeler Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Electric 3-Wheeler Market Size Forecast by Type
12.6.1 Lead-acid Battery
12.6.2 Lithium-Ion Battery
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Electric 3-Wheeler Market Size Forecast by Applications
12.10.1 Passenger Carrier
12.10.2 Load Carrier
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Electric 3-Wheeler Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Electric 3-Wheeler Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Electric 3-Wheeler Market Size Forecast by Type
13.6.1 Lead-acid Battery
13.6.2 Lithium-Ion Battery
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Electric 3-Wheeler Market Size Forecast by Applications
13.10.1 Passenger Carrier
13.10.2 Load Carrier
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric 3-Wheeler Market: Competitive Dashboard
14.2 Global Electric 3-Wheeler Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Mahindra & Mahindra
14.3.2 Atul Auto
14.3.3 Piaggio
14.3.4 Lohia Auto Industries
14.3.5 Kinetic Engineering
14.3.6 Zongshen
14.3.7 BESWAY
14.3.8 HuaiHai
14.3.9 JIANGSU KINGBON VEHICLE
14.3.10 LOVOL
14.3.11 Mahindra & Mahindra
