PUBLISHER: IMARC | PRODUCT CODE: 1298746
PUBLISHER: IMARC | PRODUCT CODE: 1298746
Electric Three-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global electric three-wheeler market size reached US$ 661 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,152 Million by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.
An electric three-wheeler, also known as an e-rickshaw, operates on high torque electric motors and longer durability batteries. It offers last-mile connectivity, easy access to narrow roads, and a noise-free travel experience. It helps improve urban air quality by reducing total greenhouse gas (GHG) and other emissions. Besides this, as it also aids in lowering additional costs associated with fuel consumption, electric three-wheeler is gaining immense traction as a convenient and eco-friendly mode of public transportation across the globe.
Electric Three-Wheeler Market Trends:
Surging levels of air pollution and inflating prices of transportation fuels have resulted in the increasing adoption of green vehicles. This, in confluence with the burgeoning automobile industry, represents one of the key factors bolstering the growth of the market. Besides this, governing authorities of numerous countries are offering subsidies and tax abatements, exempting drivers of electric three-wheelers from toll road or parking fees, and deploying charging stations for electric vehicles (EVs). Moreover, the batteries of these vehicles can be reused and recycled. Apart from this, the introduction of battery-as-a-service (BaaS) can reduce up-front acquisition costs of electric three-wheelers as it enables customers to lease batteries as a separate component. In addition, BaaS is less time-consuming and requires minimum infrastructure compared to charging the battery at a station. This, coupled with the growing popularity of shared mobility, which may help reduce traffic congestion and transportation costs, is fueling market growth. Furthermore, rising environmental awareness among individuals, 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 some of the other factors projected to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global electric three-wheeler market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Key Questions Answered in This Report
1. What was the size of the global electric three-wheeler market in 2022?
2. What is the expected growth rate of the global electric three-wheeler market during 2023-2028?
3. What are the key factors driving the global electric three-wheeler market?
4. What has been the impact of COVID-19 on the global electric three-wheeler market?
5. What is the breakup of the global electric three-wheeler market based on the vehicle type?
6. What is the breakup of the global electric three-wheeler market based on the power type?
7. What is the breakup of the global electric three-wheeler market based on the battery type?
8. What are the key regions in the global electric three-wheeler market?
9. Who are the key players/companies in the global electric three-wheeler market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Electric Three-Wheeler Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Vehicle Type
- 6.1 Passenger Carrier
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Load Carrier
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Power Type
- 7.1 Up To 1000W
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 1000W To 1500W
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Above 1500W
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by Battery Type
- 8.1 Lithium-Ion
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Lead Acid
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 ATUL Auto Limited
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.2 Bodo Vehicle Group Co. Ltd.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 E-Tuk Factory
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Goenka Electric Motor Vehicles Private Limited
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 Jiangsu Jinpeng Group Co. Ltd.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Kinetic Green Energy & Power Solutions Ltd.
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 Lohia Auto Industries
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Mahindra & Mahindra Limited
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Omega Seiki Mobility
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Piaggio & C. SpA
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 Scooters India Limited
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.12 Terra Motors Corporation
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.1 ATUL Auto Limited
List of Figures
- Figure 1: Global: Electric Three-Wheeler Market: Major Drivers and Challenges
- Figure 2: Global: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017-2022
- Figure 3: Global: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 4: Global: Electric Three-Wheeler Market: Breakup by Vehicle Type (in %), 2022
- Figure 5: Global: Electric Three-Wheeler Market: Breakup by Power Type (in %), 2022
- Figure 6: Global: Electric Three-Wheeler Market: Breakup by Battery Type (in %), 2022
- Figure 7: Global: Electric Three-Wheeler Market: Breakup by Region (in %), 2022
- Figure 8: Global: Electric Three-Wheeler (Passenger Carrier) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Electric Three-Wheeler (Passenger Carrier) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Electric Three-Wheeler (Load Carrier) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Electric Three-Wheeler (Load Carrier) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Electric Three-Wheeler (Up To 1000W) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Electric Three-Wheeler (Up To 1000W) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Electric Three-Wheeler (1000W To 1500W) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Electric Three-Wheeler (1000W To 1500W) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Electric Three-Wheeler (Above 1500W) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Electric Three-Wheeler (Above 1500W) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Electric Three-Wheeler (Lithium-Ion) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Electric Three-Wheeler (Lithium-Ion) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Electric Three-Wheeler (Lead Acid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Electric Three-Wheeler (Lead Acid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: North America: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: North America: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: United States: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: United States: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Canada: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Canada: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Asia-Pacific: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Asia-Pacific: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: China: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: China: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Japan: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Japan: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: India: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: India: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: South Korea: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: South Korea: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Australia: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Australia: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: Indonesia: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: Indonesia: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Others: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Others: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Europe: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Europe: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Germany: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Germany: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: France: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: France: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: United Kingdom: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: United Kingdom: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Italy: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Italy: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Spain: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Spain: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Russia: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Russia: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Others: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Others: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Latin America: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Latin America: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Brazil: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Brazil: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Mexico: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Mexico: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Others: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Others: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Middle East and Africa: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Middle East and Africa: Electric Three-Wheeler Market: Breakup by Country (in %), 2022
- Figure 70: Middle East and Africa: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Global: Electric Three-Wheeler Industry: SWOT Analysis
- Figure 72: Global: Electric Three-Wheeler Industry: Value Chain Analysis
- Figure 73: Global: Electric Three-Wheeler Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Electric Three-Wheeler Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Electric Three-Wheeler Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
- Table 3: Global: Electric Three-Wheeler Market Forecast: Breakup by Power Type (in Million US$), 2023-2028
- Table 4: Global: Electric Three-Wheeler Market Forecast: Breakup by Battery Type (in Million US$), 2023-2028
- Table 5: Global: Electric Three-Wheeler Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Electric Three-Wheeler Market: Competitive Structure
- Table 7: Global: Electric Three-Wheeler Market: Key Players
