Dublin, Sept. 19, 2022 (GLOBE NEWSWIRE) -- The "Electric Three Wheeler Market Size, Share, and Trend Analysis Report by Battery (Lithium-ion, Lead Acid and Others), by Power, by End-use, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global electric three wheeler market size is expected to reach USD 1.57 billion by 2030 with a CAGR growth of 7.5% from 2022 to 2030, according to this report.
The market growth of electric three wheelers is attributed to factors such as the increasing inclination towards electric vehicles as a sustainable, and efficient alternative for public commuting. The increasing carbon emission level in the environment by fossil fuel-powered conventional vehicles has become a significant concern for governmental and environmental organizations.
This has resulted in electric three-wheeler vehicles being perceived as a solution to reduce carbon emissions caused by conventional three wheelers. In addition to this, increasing traffic congestion and rising fuel prices across regions have further propelled the market of electric three wheelers as passenger carriers.
Electric three wheeler is emerging as an affordable option for fossil fuel-based commercial vehicles that are encouraging market growth. In developing countries of Africa and the Asia Pacific, electric three wheelers are a suitable option for last-mile deliveries and commercial use owing to their advantages, such as door-to-door accessibility, maneuverability, and affordability.
E-commerce companies such as Amazon and Flipkart have partnered with major manufacturers such as Mahindra Electric Mobility Limited for the use of electric three wheeler fleets for last-mile delivery. The e-commerce giants are planning to deploy more fleets in the coming years.
The Asia Pacific region is anticipated to show significant market growth due to the presence of major markets such as India and China. Both countries have a higher concentration of middle and lower-income populations where electric three wheelers are an economical option for last-mile and daily commutes. Furthermore, government initiatives in these countries, such as FAME and PLI, have given manufacturers and end-users benefits such as tax subsidies and discounts. The benefits based on these scheme parameters have made the production of electric three wheelers and purchasing electric three-wheelers more affordable.
Electric Three Wheeler Market Report Highlights
- The 1000 W to 1500 W segment has observed the highest market share in 2021 due to its affordable operational cost
- The growth of the electric three wheeler market is linked to the demand for both electric three wheeler passenger and commercial vehicles in developing countries owing to a surge in last-mile delivery and commute
- Government initiatives in the Asia Pacific region such as PLI and FAME scheme by the Indian Government have encouraged market growth
- Lithium-ion batteries are being increasingly used in electric vehicles due to their smaller size and lower charging duration
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Electric Three Wheeler Market Analysis Market Variables, Trends & Scope
3.1. Penetration and Growth Prospect Mapping
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraints Analysis
3.2.3. Market Opportunity Analysis
3.3. Industry Value Chain Analysis
3.4. Electric Three Wheeler Market Key Company Analysis, 2021
3.5. Electric Three-Wheeler Market: Major Deals & Strategic Alliances Outlook
3.6. Market Analysis Tools
3.6.1. Electric Three Wheeler Market Analysis Industry Analysis- Porter's Five Forces Analysis
3.6.2. Electric Three Wheeler Market Industry Analysis - PEST Analysis
3.7. Impact of COVID-19 On Electric Three Wheeler Market
Chapter 4. Electric Three Wheeler Market: Battery Type Outlook
4.1. Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
4.2. Lithium-ion
4.2.1. Market Estimates and Forecasts By Region, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
4.3. Lead Acid
4.3.1. Market Estimates and Forecasts By Region, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
4.4. Others
4.4.1. Market Estimates and Forecasts By Region, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
Chapter 5. Electric Three Wheeler Market: Power Outlook
5.1. Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (Revenue, USD Million: Volume,Thousand Unit)
5.1.1. Market Estimates and Forecasts By Region, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
5.2. Up to 1000 W
5.2.1. Market Estimates and Forecasts By Region, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
5.3. 1000 W to 1500 W
5.3.1. Market Estimates and Forecasts By Region, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
5.4. Above to 1500 W
5.4.1. Market Estimates and Forecasts By Region, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
Chapter 6. Electric Three Wheeler Market: End-Use Outlook
6.1. Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
6.2. Passenger Carrier
6.2.1. Market Estimates and Forecasts By Region, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
6.3. Goods Carrier
6.3.1. Market Estimates and Forecasts By Region, 2018 - 2030 (Revenue, USD Million; Volume, Thousand Unit)
Chapter 7. Electric Three Wheeler Market: Regional Outlook
Chapter 8. Competitive Landscape
8.1. Mahindra Electric Mobility Limited.
8.1.1. Company Overview
8.1.2. Financial Performance
8.1.3. Product Benchmarking
8.1.4. Recent Developments
8.2. Piaggio&C.SpA
8.2.1. Company Overview
8.2.2. Financial Performance
8.2.3. Product Benchmarking
8.2.4. Recent Developments
8.3. Atul Auto Limited
8.3.1. Company Overview
8.3.2. Financial Performance
8.3.3. Product Benchmarking
8.3.4. Recent Developments
8.4. Terra Motors Corporation
8.4.1. Company Overview
8.4.2. Financial Performance
8.4.3. Product Benchmarking
8.4.4. Recent Developments
8.5. Gayam Motor Works
8.5.1. Company Overview
8.5.2. Financial Performance
8.5.3. Product Benchmarking
8.5.4. Recent Developments
8.6. Omega Seiki Pvt Ltd
8.6.1. Company Overview
8.6.2. Financial Performance
8.6.3. Product Benchmarking
8.6.4. Recent Developments
8.7. Bodo Vehicle Group Ltd
8.7.1. Company Overview
8.7.2. Financial Performance
8.7.3. Product Benchmarking
8.7.4. Recent Developments
8.8. Euler Motors
8.8.1. Company Overview
8.8.2. Financial Performance
8.8.3. Product Benchmarking
8.8.4. Recent Developments
8.9. Bajaj Auto
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Product Benchmarking
8.9.4. Recent Developments
8.10. Jaingusu Jinpeng Vehicle Co Ltd
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Product Benchmarking
8.10.4. Recent Developments
8.11. E-Tuk Factory
8.11.1. Company Overview
8.11.2. Financial Performance
8.11.3. Product Benchmarking
8.11.4. Recent Developments
For more information about this report visit https://www.researchandmarkets.com/r/88z99n
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