Connect with us

Hi, what are you looking for?

Electric Three Wheeler Market Size, Share, Analysis, Industry Trends and Forecast to 2022-2027

  The latest research study “Electric Three Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global electric three-wheeler market size reached a value of US$ 596.2 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,059.10 Million by 2027, exhibiting a CAGR of 9.60% during 2022-2027. 

What is Electric Three Wheeler? How Big is Electric Three Wheeler Market?

An electric three-wheeler, also known as an e-rickshaw, uses high torque electric motors and batteries instead of fuel. It provides easy access to narrow roads, zero carbon emissions, compact design, last-mile connectivity, and a noise-free travel experience. It also helps enhance urban air quality by decreasing total greenhouse gas (GHG) and other emissions. As a result, the electric three-wheeler is gaining immense popularity as a convenient and eco-friendly mode of public transportation across the globe.

Request a Free PDF Sample for more detailed market insights: https://www.imarcgroup.com/electric-three-wheeler-market/requestsample

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Electric Three-Wheeler Market Trends and Drivers:

The market is primarily driven by the inflating prices of transportation fuels such as diesel, liquefied petroleum gas (LPG), compressed natural gas (CNG), aviation, motor, and petroleum gasoline. In addition, the growing inclination toward electric vehicles as a sustainable and efficient alternative for public commuting is contributing to market growth. 

Moreover, various governing authorities are offering subsidies and tax abatements, deploying charging stations for electric vehicles (EVs), and exempting drivers of electric three-wheelers from toll road or parking fees, which represent another major growth-inducing factor. Besides this, nowadays, battery-as-a-service (BaaS) is gaining immense popularity among consumers as it needs minimum infrastructure compared to charging a battery at a station and can minimize up-front acquisition costs of electric three-wheelers, allowing customers to lease batteries as a separate component. 

This, coupled with the rising popularity of shared mobility, which helps reduce traffic congestion and transportation costs, is providing a positive thrust to the market growth. Furthermore, the increasing substitution of petrol-powered three-wheelers with electric three-wheelers and reducing battery prices that aid in minimizing total costs of ownership (TCO) are creating a positive market outlook.

Electric Three-Wheeler Market Report Scope

Report Coverage Details
Forecast Period 2022-2027
Base Year 2021
Market Size in 2021 US$ 596.2 Million
Market Size in 2027 US$ 1,059.10 Million
CAGR 9.60%

Global Electric Three-Wheeler Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

ATUL Auto Limited, Bodo Vehicle Group Co. Ltd., E-Tuk Factory, Goenka Electric Motor Vehicles Private Limited, Jiangsu Jinpeng Group Co. Ltd., Kinetic Green Energy & Power Solutions Ltd., Lohia Auto Industries, Mahindra & Mahindra Limited, Omega Seiki Mobility, Piaggio & C. SpA, Scooters India Limited and Terra Motors Corporation. 

The report has segmented the market on the basis of region, vehicle type, power type and battery type.

Breakup by Vehicle Type:

Passenger Carrier

Load Carrier

Breakup by Power Type:

 Up To 1000W

1000W To 1500W

Above 1500W

Breakup by Battery Type:

Lithium-Ion

Lead Acid

Breakup by Region:

North America: (United States, Canada)

Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)

Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

Latin America: (Brazil, Mexico, Others)

Middle East and Africa

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/electric-three-wheeler-market

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

Market Performance (2016-2021)

Market Outlook (2022- 2027)

Porter’s Five Forces Analysis

Market Drivers and Success Factors

SWOT Analysis

Value Chain

Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Browse Other Reports :

Asia Pacific OTR Tire Market Report 2022-2027: https://www.openpr.com/news/2678617/asia-pacific-otr-tire-market-report-2022-size-share-trends

India Electric Vehicle Market Report 2022-2027: https://www.einpresswire.com/article/582292625/india-electric-vehicle-market-overview-report-analysis-share-size-trends-growth-and-forecast-2022-2027

North America OTR Tire Market Report 2022-2027: https://www.openpr.com/news/2712306/north-america-otr-tire-market-size-2022-top-companies-overview

Europe Electric Bus Market Report 2022-2027: https://www.digitaljournal.com/pr/europe-electric-bus-market-size-2022-industry-share-growth-analysis-and-forecast-imarc-group

One Wheel Electric Scooter Market Report 2022-2027: https://www.openpr.com/news/2669848/one-wheel-electric-scooter-market-2022-top-companies-size

Automotive Logging Device Market Report 2022-2027: https://www.einpresswire.com/article/583233985/automotive-logging-device-market-size-2022-27-industry-trends-share-scope-growth-opportunity-and-forecast

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Services Private Limited.

30 N Gould St Ste R

Sheridan, WY 82801 USA – Wyoming

Email: [email protected]

Tel No:(D) +91 120 433 0800

Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Written By

You may also like:

Life

Their stories are divided into before and after.

World

Child of the caliphate: A girl in the vast al-Hol Islamic State camp in northeastern Syria - Copyright AFP Delil SOULEIMANRouba EL HUSSEINIAli is...

Social Media

Wanna buy some ignorance? You’re in luck.

Tech & Science

Under new legislation that passed the House of Representatives last week, TikTok could be banned in the United States.