Global Three-Wheeled Motorcycle Market To Be Driven By The Increasing Demand For Three-Wheeled Motorcycle During The Forecast Period Of 2023-2028

Published February 13, 2023

The new report by Expert Market Research titled, ‘Global Three-Wheeled Motorcycle Market Share, Size, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global three-wheeled motorcycle market, assessing the market based on its segments like wheel positions, types, engine, and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Three-Wheeled Motorcycle Market Size, Share, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

  • Forecast CAGR (2023-2028): 12%

The increasing demand for three-wheeled motorcycle among beginners or driving aspirants is driving the market growth as the product provides balance and safety to the passengers. The increasing application of the product for touring, sporting, and recreational activities, owing to the rising disposable income and rapid urbanisation, is further propelling the market growth.

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Moreover, the increasing concerns related to road safety and traffic management are likely to escalate the demand for three-wheeled motorcycles in the forecast period. In terms of region, the Asia Pacific region accounts for a significant share of the market owing to the high population leading to higher traffic congestions and strong foothold of major market players.

Three-Wheeled Motorcycle Industry Definition and Major Segments

Three-wheeled motorcycle is defined as a vehicle which is equipped with three wheels. Often referred to as motorised tricycle, which is ideal for new motorcycle learners or beginners or physically challenged people, as they provide extra support on the sides, keeping the passenger from falling or crashing.

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On the basis of wheel position, the market can be segmented into:

  • Two Wheels at Front
  • Two Wheels at Rear

Based on type, the market has been segmented into:

  • Sports
  • Cruiser
  • Touring
  • Recreational

The market can be broadly categorised based on engine into:

  • Combustion Engines
    • Up to 150 cc
    • 151-300 cc
    • 301-500 cc
    • Above 500 cc
  • Electric

The regional markets for three-wheeled motorcycle include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Three-Wheeled Motorcycle Market Trends

The key trends in the three-wheeled motorcycle market include the technological advancements in the automotive industry, bolstering the production of superior quality three-wheeled motorcycles with greater fuel efficiency and strength. The stringent regulations of the government across emerging economies against carbon emission are encouraging the demand for three-wheeled motorcycles.

Meanwhile, the increasing geriatric population are leading to a greater sale of the product for enhanced safety and security while driving. The increasing enthusiasm among the physically disabled population to travel and go for city exploration is also anticipated to be a crucial trend in the market.

Key Market Players

The major players in the market are:

  • Honda Motor Co., Ltd.
  • Yamaha Motors Co., Ltd.
  • Harley-Davidson, Inc.
  • Polaris Industries, Inc.
  • Bombardier Recreational Products Inc.
  • Piaggio & C. S.p.a
  • Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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