Electric Three-Wheelers Market
Electric Three-Wheelers Market Global Industry Assessment & Forecast
#
Pages:
155
2021
Nov - 2021
VMR-2021-0597
Segments Covered
By
Battery Type Li-ion, Lead Acid
-
By
End-Use Passenger Carrier, Goods Carrier
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
682.54 Million |
 Revenue 2028:
|
987.32 Million |
 Revenue CAGR
(2021 - 2028): |
5.42% |
Fastest Growing Region (2022 -
2028)
|
Asia Pacific |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
The report delivers an acute breakdown of the market based on various segments such as Battery Type, End-Use and region. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities.
On the basis of Battery Type, the market is divided into Li-ion, Lead Acid. Li-ion is expected to dominate the market and is projected to grow at a noteworthy CAGR within the forecast period.
Based on End-Use, the market is divided into Passenger Carrier, Goods Carrier. Passenger Carrier attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Electric Three-Wheelers Market: Battery Type Segment Analysis
-
- Li-ion
- Lead Acid
Global Electric Three-Wheelers Market: End-Use Segment Analysis
-
- Passenger Carrier
- Goods Carrier
FAQ
Frequently Asked Question
What is the global demand for Electric Three-Wheelers in terms of revenue?
-
The global Electric Three-Wheelers valued at 682.54 Million in 2020 and is expected to reach 987.32 Million in 2028 growing at a CAGR of 5.42%%.
Which are the prominent players in the market?
-
The prominent players in the market are ChongQing Zongshen Tricycle Manufacturing Co. Ltd., Hero Electric Vehicles Pvt Ltd., Kinetic Green Energy & Power Solutions Ltd., Terra Motors India Corp., Lohia Auto Industries, Saera Electric Auto Pvt. Ltd, Clean Motion, Xianghe Qiangsheng Electric Tricycle Factory, NINGBO DOWEDO INTERNATIONAL TRADE CO. LTD..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 5.42%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Electric Three-Wheelers include
- The increasing inclination towards using eco-friendly & efficient solution for travel is expected to augment the growth of the electric three-wheelers market during the forecast period. This is attributable to the increasing global carbon emission by combustion of fuel and implementation of stringent government norms. Furthermore, increase in fuel prices at international level, growth in pollution, and traffic congestion, especially in urban areas have further increased the acceptance of electric three-wheeler across the globe and these are factors driving the market.
- The low operating and maintenance cost required for electric three-wheelers is anticipated to drive the demand for the electrical three-wheelers market in the years to come. The vehicles operating on electricity significantly reduce the operating cost of these vehicles. The other factor augmenting the growth of the electric three-wheeler market is the increasing prices of petroleum products. Most of the manufacturers are now focussing on working towards developing three-wheelers that have a higher range than the current models. Additionally, electric three-wheelers provide zero tailpipe emissions and noise-free transportation which is driving the growth of the electric three-wheelers market in the forecast period.
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Electric Three-Wheelers in 2020.
