PUBLISHER: Grand View Research | PRODUCT CODE: 1321434
PUBLISHER: Grand View Research | PRODUCT CODE: 1321434
Asia Pacific Electric Three-wheelers Market Size, Share & Trends Analysis Report By Battery Type (Li-ion, Lead-acid), By Power, By End-use, By Country, And Segment Forecasts, 2023 - 2030
Asia Pacific Electric Three-wheelers Market Growth & Trends
The Asia Pacific electric three-wheelers market size is expected to reach USD 3.39 billion by 2030, registering a CAGR of 12.3% over the forecast period, according to a new report by Grand View Research, Inc. An increasing number of government initiatives encouraging the adoption of electric vehicles (EVs), substantial growth of the e-commerce industry resulting in high demand for the last-mile delivery services, and growing awareness regarding environmental concerns are some of the key factors driving the market growth. Moreover, consistent rises in fuel prices and an increasing number of start-ups offering varied types of electric 3-wheeler models are estimated to drive regional market growth over the forecast period.
The region has witnessed an exponential spike in the e-commerce industry since the outbreak of the COVID-19 pandemic. Countries, such as China, India, South Korea, Singapore, and Indonesia, have seen a high demand for various products over e-commerce platforms. The extensive rise in demand is subjected to the increasing use of smartphones & smart devices and growing internet penetration across the region. Thus, with growth in the sale of products over e-commerce platforms, the demand for last-mile delivery services will support the market growth. As a result, several e-commerce platforms are entering into strategic partnerships with electric three-wheeler manufacturers, as electric three-wheelers offer advantages, such as low operational & maintenance costs and cost-effective delivery.
For instance, in February 2022, Omega Seiki Mobility, an Anglian Omega Group Company, and Zyngo, a zero-emission logistics provider, announced their partnership to deploy 1,500 OSM Rage+ electric cargo three-wheelers for providing last-mile delivery solutions across India. Several technological advancements in accordance with batteries and the cargo-vehicles are expected to create new growth opportunities for marketers. The development of advanced battery technologies, such as lithium-ion (Li-ion) batteries, has significantly improved the performance and range of electric three-wheelers. The battery-swapping technology is also expected the boost market growth as it allows electric three-wheelers to operate continuously without the need for lengthy charging breaks.
By effectively replacing a depleted battery with a fully charged one, the vehicle's range is effectively extended, allowing for uninterrupted operation throughout the day. Increasing consumer preferences for ride-hailing services and a growing number of start-ups making a considerable mark in the business through their affordable offerings are anticipated to drive the market growth over the forecast period. Also, several key players are focusing on building strategic partnerships with component suppliers, e-commerce & logistics companies, and tech companies to enhance their products and engage a large chunk of the customer base in the Asia Pacific region.
For instance, in July 2022, Omega Seiki Mobility, an Anglian Omega Group Company, and Log9 Materials, a battery-tech, and deep-tech start-up, unveiled their jointly developed Rage+ RapidEV Pro electric three-wheeler. The new product model is equipped with a 7.7 KWh battery, providing a range of 95 km. The vehicle is also equipped with Log9's InstaCharge battery technology, charging the vehicle in 45 minutes and operating across temperatures ranging from -40 degrees to 60 degrees Celsius.
Asia Pacific Electric Three-wheelers Market Report Highlights
- The Li-ion segment is expected to witness significant growth over the forecast period. The growth is ascribed to technological development in battery technology and a rise in the discovery of several lithium reserves in the Asia Pacific countries, which support market growth
- The above 1500 W segment is expected to witness significant growth over the forecast period. The 1500 W-powered vehicles are used in industries, such as mining, construction, manufacturing, and logistics, wherein the demand for the same is poised to increase in the coming years
- The segment is also expected to witness new opportunities due to the increasing range load-carrying capacity of the 1500 W electric three-wheeler
- The goods carrier segment is expected to witness significant growth over the forecast period. The increasing product usage for e-commerce delivery is contributing to the segment growth
- India is expected to witness significant growth over the forecast period due to a growing number of central and state government initiatives to propel the uptake of EVs, including three-wheelers
- The usage of electric three-wheelers as a last-mile commute option and the presence of major market players engaged in expanding their footprint across the region are some of the key factors expected to drive market growth in India
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Information Procurement
- 1.4. Information analysis
- 1.4.1. Market formulation & data visualization
- 1.4.2. Data validation & publishing
- 1.5. Research Scope and Assumptions
- 1.6. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Asia Pacific Electric Three-Wheeler Market Snapshot, 2022 & 2030
- 2.2. Battery Type Segment Snapshot, 2022 & 2030
- 2.3. Power Segment Snapshot, 2022 & 2030
- 2.4. End-Use Segment Snapshot, 2022 & 2030
- 2.5. Competitive Landscape Snapshot, 2022 & 2030
Chapter 3. Electric Vehicle Industry Outlook
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.2. Market restraint analysis
- 3.3.3. Market opportunity analysis
- 3.4. Market Analysis Tools
- 3.4.1. Industry Analysis - Porter's Five Forces Analysis
- 3.4.2. PESTEL Analysis
Chapter 4. Asia Pacific Electric Three-Wheelers Market: Battery Type Outlook
- 4.1. Battery Type Movement Analysis & Market Share, 2022 & 2030 (Revenue, USD Million; Volume, Unit)
- 4.2. Asia Pacific Electric Three-Wheelers Market Estimates & Forecast, by Battery Type (Revenue, USD Million; Volume, Unit)
- 4.2.1. Lithium-ion
- 4.2.2. Lead Acid
- 4.2.3. Others
Chapter 5. Asia Pacific Electric Three-Wheelers Market: Power Outlook
- 5.1. Power Movement Analysis & Market Share, 2022 & 2030 (Revenue, USD Million; Volume, Unit)
- 5.2. Asia Pacific Electric Three-Wheelers Market Estimates & Forecast, by Power (Revenue, USD Million; Volume, Unit)
- 5.2.1. Up to 1000W
- 5.2.2. 1000 W - 1500 W
- 5.2.3. Above 1500 W
Chapter 6. Asia Pacific Electric Three-Wheelers Market: End-use Outlook
- 6.1. End-use Movement Analysis & Market Share, 2022 & 2030 (Revenue, USD Million; Volume, Unit)
- 6.2. Asia Pacific Electric Three-Wheelers Market Estimates & Forecast, by End-use (Revenue, USD Million; Volume, Unit)
- 6.2.1. Passenger Carrier
- 6.2.2. Goods Carrier
Chapter 7. Asia Pacific Electric Three-Wheelers Market: Regional Outlook
- 7.1. Asia Pacific Electric Three-Wheelers Market Share by Region, 2022 & 2030 (Revenue, USD Million; Volume, Unit)
- 7.2. Asia Pacific
- 7.2.1. Asia Pacific Electric Three-Wheeler Market Estimates and Forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.2. Asia Pacific Electric Three-Wheeler Market Estimates and Forecasts By Battery Type, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.3. Asia Pacific Electric Three-Wheeler Market Estimates and Forecasts By Power, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.4. Asia Pacific Electric Three-Wheeler Market Estimates and Forecasts By End Use, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.5. China
- 7.2.5.1. China Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.5.2. China Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By Battery Type, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.5.3. China Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By Power, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.5.4. China Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By End Use, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.6. India
- 7.2.6.1. India Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.6.2. India Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By Battery Type, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.6.3. India Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By Power, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.6.4. India Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By End Use, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.7. Indonesia
- 7.2.7.1. Indonesia Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.7.2. Indonesia Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By Battery Type, 2018 - 2030 (USD Million)
- 7.2.7.3. Indonesia Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By Power, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.7.4. Indonesia Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By End Use, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.8. Philippines
- 7.2.8.1. Philippines Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.8.2. Philippines Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By Battery Type, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.8.3. Philippines Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By Power, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- 7.2.8.4. Philippines Asia Pacific Electric Three-Wheelers Market Estimates and Forecasts By End Use, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
Chapter 8. Competitive Landscape
- 8.1. Company Categorization (Mature Players, Emerging Players)
- 8.2. Company Market Share Analysis, 2022
- 8.3. Company Heat Map Analysis
- 8.4. Strategy Mapping
- 8.5. Company Profiles (Overview, Financial Performance, Product Overview, Strategic Initiatives)
- 8.5.1. Atul Auto Ltd. Atul Auto Limited
- 8.5.2. Hero Electric.
- 8.5.3. Jiangsu Kingbon Vehicle Co., Ltd.
- 8.5.4. Kinetic Engineering Limited
- 8.5.5. Lohia Auto Industries (Zuperia Auto Private Limited.)
- 8.5.6. Mahindra & Mahindra Limited
- 8.5.7. Piaggio & C. SpA
- 8.5.8. Saera Electric Auto Pvt. Ltd.
- 8.5.9. Terra Motors Corporation
- 8.5.10. Xianghe Qiansheng Electric Tricycle Factory
List of Tables
- Table 1 Asia Pacific Electric three-wheeler market- Industry snapshot & key buying criteria, 2018 - 2030
- Table 2 Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 3 Asia Pacific electric three-wheeler market, by region, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 4 Asia Pacific electric three-wheeler market, by battery type, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 5 Asia Pacific electric three-wheeler market, by power, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 6 Asia Pacific electric three-wheeler market, by end-use, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 7 Lithium-ion Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 8 Lithium-ion Asia Pacific electric three-wheeler market, by region, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 8 Lead Acid Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 10 Lead Acid Asia Pacific electric three-wheeler market, by region, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 11 Other Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 12 Other Asia Pacific electric three-wheeler market, by region, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 13 Up to 1000 W Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 14 Up to 1000 W Asia Pacific electric three-wheeler market, by region, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 15 1000 W - 1500 W Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 16 1000 W - 1500 W Asia Pacific electric three-wheeler market, by region, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 17 Above 1000 W Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 18 Above 1000 W Asia Pacific electric three-wheeler market, by region, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 19 Passenger carrier Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 20 Passenger carrier Asia Pacific electric three-wheeler market, by region, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 21 Good carrier Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 22 Good carrier Asia Pacific electric three-wheeler market by region, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 23 Asia Pacific Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 24 Asia Pacific Asia Pacific electric three-wheeler market, by battery type, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 25 Asia Pacific Asia Pacific electric three-wheeler market, by power, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 26 Asia Pacific Asia Pacific electric three-wheeler market, by end use, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 27 China Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 28 China Asia Pacific electric three-wheeler market, by battery type, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 29 China Asia Pacific electric three-wheeler market, by power, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 30 China Asia Pacific electric three-wheeler market, by end use, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 31 India Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 32 India Asia Pacific electric three-wheeler market, by battery type, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 33 India Asia Pacific electric three-wheeler market, by power, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 34 India Asia Pacific electric three-wheeler market, by end use, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 35 Indonesia Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 36 Indonesia Asia Pacific electric three-wheeler market, by battery type, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 37 Philippines Asia Pacific electric three-wheeler market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 38 Philippines Asia Pacific electric three-wheeler market, by battery type, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 39 Philippines Asia Pacific electric three-wheeler market, by power, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Table 40 Philippines Asia Pacific electric three-wheeler market, by end-use, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
List of Figures
- Fig. 1 Market segmentation and scope
- Fig. 2 Asia Pacific Electric three-wheelers market, 2018 - 2030 (Revenue, USD Million; Volume, Unit)
- Fig. 3 Asia Pacific Electric three-wheelers market - Value chain analysis
- Fig. 4 Asia Pacific Electric three-wheelers market - Market dynamics
- Fig. 5 Asia Pacific Electric three-wheelers market - Key market driver impact
- Fig. 6 Asia Pacific Electric three-wheelers market - Key market challenge impact
- Fig. 7 Asia Pacific Electric three-wheelers market - Key opportunities prioritized
- Fig. 8 Asia Pacific Electric three-wheelers market - Porter's five forces analysis
- Fig. 9 Asia Pacific Electric three-wheelers market - Company market share analysis, 2022
- Fig. 10 Asia Pacific Electric three-wheelers market - PESTEL analysis
- Fig. 11 Asia Pacific Electric three-wheelers market, by battery type, 2022
- Fig. 12 Asia Pacific Electric three-wheelers market, by power, 2022
- Fig. 13 Asia Pacific Electric three-wheelers market, by end-use, 2022
