PUBLISHER: Allied Market Research | PRODUCT CODE: 1225052
PUBLISHER: Allied Market Research | PRODUCT CODE: 1225052
The report incorporates the study of the global electric three wheeler market that focuses on the type of electric vehicles propelled by battery and electric motor. The usual construction of an electric three wheeler consists of three wheels and is generally used as a commercial vehicle to transport goods. The electric three wheeler mobility depends on maneuverability, affordability, and door-to-door transport. As many developing countries, especially in Asia-Pacific and LAMEA, require a faster and significantly cheaper option for public and goods transport; hence, electric three-wheelers best suites the requirement. For instance, in January 2022, Goenka Electric Motor Vehicles Private Limited partnered with Omega Seiki Mobility, a manufacturer of electric mobility solutions for end-to-end deliveries, to jointly set up over 500 dealerships across India in a phased manner by FY24. This increased their market presence across India.
The factors such as rise in the trend of last mile connectivity, increase in demand for affordable commercial vehicle, and inclination toward use of electric three wheelers as an eco-friendly & efficient solution for commute supplement the growth of the electric three wheeler market. However, lack of standardization of EV charging and high cost of battery are the factors expected to hamper the growth of the electric three wheeler market. In addition, growth in the trend of shared mobility and greater availability of credit and financing options creates market opportunities for the key players operating in the electric three wheeler market.
For the purpose of analysis, the global electric three wheeler market is segmented on the basis of vehicle type, power type, battery type, and region. By vehicle type, the market is categorized into passenger carrier and load carrier. By power type, the market is divided into up to 1000W, 1000W to 1500W, and above 1500W. By battery type, it is fragmented into lithium-ion and lead acid. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the electric three wheeler market are Adapt Motors, Altigreen, ATUL Auto Limited, BILITI Electric Inc., Bodo Vehicle Group Co., Ltd., Chongqing Zongshen Vehicle Co., Ltd., E-TUK Factory, Green Impex, J.S. Auto Pvt. Ltd., Kinetic Green Vehicles, Mahindra Electric Mobility Limited, Piaggio & C. SpA, Scooters India Limited, Terra Motors Corporation, and Zuperia Auto Pvt. Ltd.
Key Benefits For Stakeholders
By Vehicle Type
By Power Type
By Battery Type
By Region