Market Research Report
Three-Wheeler Market by Fuel Type (Petrol/ CNG, Diesel, and Electric) and Vehicle Type (Passenger Carrier and Load Carrier): Global Opportunity Analysis and Industry Forecast, 2021-2028
|Three-Wheeler Market by Fuel Type (Petrol/ CNG, Diesel, and Electric) and Vehicle Type (Passenger Carrier and Load Carrier): Global Opportunity Analysis and Industry Forecast, 2021-2028|
Published: May 28, 2021
Allied Market Research
Content info: 170 Pages
Delivery time: 2-3 business days
A three-wheeler is a three wheeled vehicle propelled by petrol/CNG, diesel, or electric motor. Three-wheelers are generally used as a commercial vehicle to transport passenger and goods. The mobility of three-wheelers depends on the maneuverability, affordability, and door-to-door transport. As many developing countries specially in Asia-Pacific and LAMEA require faster and significantly cheaper option for public and goods transport, three-wheeler suites the requirement best.
The three-wheeler market is driven by factors such as increase in demand for commercial vehicle with lower operating cost, last mile connectivity, and growing preference for the electric vehicle as a commercial vehicle. However, increase in fuel prices, higher upfront cost of electric three-wheeler battery, and lack of charging infrastructure are some the potential factors that can hamper the market growth.
By region, Asia-Pacific dominates the market at present, followed by Europe, LAMEA, and North America. In the Asia-Pacific region, India dominated the global three-wheeler market in 2020, and is expected to maintain its dominance during the forecast period. Whereas China is expected to grow at a significant rate in Asia-Pacific, owing to the growing preference of electric three-wheelers in the region.
By Fuel Type
By Vehicle Type