NEW YORK, June 15, 2022 /PRNewswire/ — The Electric Three-Wheeler Market report by Technavio forecasts 306 thousand unit growth at a CAGR of 6.91%. The subsidies and tax incentives on electric three-wheelers to reduce dependency on petroleum products is notably driving the electric three-wheeler market growth, although factors such as concerns about range and performance may impede the market growth.
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The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across segments such as end-user (passenger carrier and goods carrier) and geography (Europe, North America, APAC, South America, MEA). This report helps businesses create strategies to make the most of future growth opportunities.
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A major reason driving the worldwide electric three-wheeler market share growth is subsidies and tax incentives on electric three-wheelers to minimize reliance on petroleum products. Regulatory organizations throughout the world are giving various incentives and tax benefits to encourage the adoption of environmentally friendly automobiles in order to address fuel emission and consumption issues.
Almost all of the world’s leading automobile markets have provided tax breaks and subsidies to encourage automakers to produce more hybrid and electric vehicles locally. Although factors such as concerns about range and performance may impede market growth.
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Electric Three-Wheeler Market: Segmentation Analysis
Segmentation by Service:
- The passenger carrier segment’s electric three-wheeler market share will expand significantly. The adoption rate of three-wheeler passenger carriers has accelerated in the previous five years as a result of new licenses issued by various road transport authorities for CNG/LPG and electric three-wheelers, particularly in India and China. Various government measures in India are propelling the country’s electric three-wheeler business forward.
Segmentation by Geography:
- APAC will account for 98 percent of market growth. The primary markets for electric three-wheelers in APAC include China, India, Sri Lanka, Bangladesh, Nepal, and Thailand. The market in this region will increase at a quicker rate than the market in other regions. Over the forecast period, the global push toward alternative energy vehicles would aid the growth of the electric three-wheeler market in APAC.
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Electric Three-Wheeler Market: Major Vendors
The Electric Three-Wheeler Market is fragmented due to the presence of several vendors. The report offers detailed information on the competencies, capacities, and products offered by major vendors including:
- Bodo Vehicle Group Co. Ltd.
- E-Tuk Factory BV
- Goenka Electric Motor Vehicles Pvt. Ltd
- Kerala Automobiles Ltd.
- Kinetic Green Energy & Power Solutions Ltd.
- LOHIA AUTO INDUSTRIES
- Mahindra Electric Mobility Ltd.
- Omega Seiki Private Limited
- Piaggio & C. Spa
- Terra Motors
To get more detailed insights about vendors click here.
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Electric Three-Wheeler Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.91% |
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Market growth 2021-2025 |
306 th units |
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Market structure |
Concentrated |
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YoY growth (%) |
-10.88 |
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Regional analysis |
APAC and ROW |
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Performing market contribution |
APAC at 98% |
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Key consumer countries |
China, India, Sri Lanka, Bangladesh, Nepal, and Thailand |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Bodo Vehicle Group Co. Ltd., E-Tuk Factory BV, Goenka Electric Motor Vehicles Pvt. Ltd, Kerala Automobiles Ltd., Kinetic Green Energy & Power Solutions Ltd., LOHIA AUTO INDUSTRIES, Mahindra Electric Mobility Ltd., Omega Seiki Private Limited, Piaggio & C. Spa, and Terra Motors |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Impact of COVID-19 on consumer discretionary
- 2.3 Value chain analysis
- Exhibit 03: Value chain analysis: Global Motorcycle Market
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 – 2025
- Exhibit 06: Global – Market size and forecast 2020 – 2025 (thousand units)
- Exhibit 07: Global market: Year-over-year growth 2020 – 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition – Five forces 2020
5 Market Segmentation by End-user
- 5.1 Market segments
- 5.2 Comparison by End-user
- 5.3 Passenger carrier – Market size and forecast 2020-2025
- Exhibit 17: Passenger carrier – Market size and forecast 2020-2025 (thousand units)
- Exhibit 18: Passenger carrier – Year-over-year growth 2020-2025 (%)
- 5.4 Goods carrier – Market size and forecast 2020-2025
- Exhibit 19: Goods carrier – Market size and forecast 2020-2025 (thousand units)
- Exhibit 20: Goods carrier – Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by End-user
- Exhibit 21: Market opportunity by End-user
6 Customer landscape
- 6.1 Overview
- Exhibit 22: Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 APAC – Market size and forecast 2020-2025
- Exhibit 25: APAC – Market size and forecast 2020-2025 (thousand units)
- Exhibit 26: APAC – Year-over-year growth 2020-2025 (%)
- 7.4 ROW – Market size and forecast 2020-2025
- Exhibit 27: ROW – Market size and forecast 2020-2025 (thousand units)
- Exhibit 28: ROW – Year-over-year growth 2020-2025 (%)
- 7.5 Key leading countries
- Exhibit 29: Key leading countries
- 7.6 Market opportunity by geography
- Exhibit 30: Market opportunity by geography (thousand units)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 31: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Overview
- Exhibit 32: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 33: Landscape disruption
- Exhibit 34: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 35: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 36: Market positioning of vendors
- 10.3 Bodo Vehicle Group Co. Ltd.
- Exhibit 37: Bodo Vehicle Group Co. Ltd. – Overview
- Exhibit 38: Bodo Vehicle Group Co. Ltd. – Product and service
- Exhibit 39: Bodo Vehicle Group Co. Ltd. – Key offerings
- 10.4 E-Tuk Factory BV
- Exhibit 40: E-Tuk Factory BV – Overview
- Exhibit 41: E-Tuk Factory BV – Product and service
- Exhibit 42: E-Tuk Factory BV – Key offerings
- 10.5 Goenka Electric Motor Vehicles Pvt. Ltd
- Exhibit 43: Goenka Electric Motor Vehicles Pvt. Ltd – Overview
- Exhibit 44: Goenka Electric Motor Vehicles Pvt. Ltd – Product and service
- Exhibit 45: Goenka Electric Motor Vehicles Pvt. Ltd – Key offerings
- 10.6 Kerala Automobiles Ltd.
- Exhibit 46: Kerala Automobiles Ltd. – Overview
- Exhibit 47: Kerala Automobiles Ltd. – Product and service
- Exhibit 48: Kerala Automobiles Ltd. – Key offerings
- 10.7 Kinetic Green Energy & Power Solutions Ltd.
- Exhibit 49: Kinetic Green Energy & Power Solutions Ltd. – Overview
- Exhibit 50: Kinetic Green Energy & Power Solutions Ltd. – Product and service
- Exhibit 51: Kinetic Green Energy & Power Solutions Ltd. – Key offerings
- 10.8 LOHIA AUTO INDUSTRIES
- Exhibit 52: LOHIA AUTO INDUSTRIES – Overview
- Exhibit 53: LOHIA AUTO INDUSTRIES – Product and service
- Exhibit 54: LOHIA AUTO INDUSTRIES – Key offerings
- 10.9 Mahindra Electric Mobility Ltd.
- 10.10 Omega Seiki Private Limited
- Exhibit 59: Omega Seiki Private Limited – Overview
- Exhibit 60: Omega Seiki Private Limited – Product and service
- Exhibit 61: Omega Seiki Private Limited – Key offerings
- 10.11 Piaggio & C. Spa
- Exhibit 62: Piaggio & C. Spa – Overview
- Exhibit 63: Piaggio & C. Spa – Business segments
- Exhibit 64: Piaggio & C. SpA – Key news
- Exhibit 65: Piaggio & C. Spa – Key offerings
- Exhibit 66: Piaggio & C. Spa – Segment focus
- 10.12 Terra Motors
- Exhibit 67: Terra Motors – Overview
- Exhibit 68: Terra Motors – Product and service
- Exhibit 69: Terra Motors – Key news
- Exhibit 70: Terra Motors – Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 71: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 72: Research Methodology
- Exhibit 73: Validation techniques employed for market sizing
- Exhibit 74: Information sources
- 11.4 List of abbreviations
- Exhibit 75: List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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