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Market Research Report
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998810

Asia Pacific Electric 3-Wheeler Market by End-use (Passenger & Load), Range (Upto 50 Miles & Above 50 Miles), Battery type (Lead Acid & Lithium ion), Battery Capacity (Below 3kWh, 3kWh-6kWh, Above 6kWh), Motor Power and Country - Forecast to 2026

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Asia Pacific Electric 3-Wheeler Market by End-use (Passenger & Load), Range (Upto 50 Miles & Above 50 Miles), Battery type (Lead Acid & Lithium ion), Battery Capacity (Below 3kWh, 3kWh-6kWh, Above 6kWh), Motor Power and Country - Forecast to 2026
Published: April 2, 2021
MarketsandMarkets
Content info: 186 Pages
Delivery time: 1-2 business days
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Description

Asia Pacific electric three-wheeler market is estimated to be 156,397 units in 2021 and is projected to grow to 486,446 units by 2026, at a CAGR of 25.5% during the forecast period. Electric three-wheelers run on the electrical energy stored in the rechargeable battery unit. These battery units can either be charged through an external power source or can be swapped with a charged one. Electric three-wheelers are more efficient and ecofriendly than conventional ICE three-wheelers.

With the increasing stringency of government mandates, the focus of three-wheeler manufacturers has shifted to efficiency, emission-free propulsion, innovative technologies, and revised environmental standards. The increasing adoption of electric three-wheelers and improved charging infrastructure (in terms of network and capacity) in countries will change the market scenario in the coming years.

The recent developments in the electric three-wheeler market have introduced batteries with improved specifications that are said to be at the heart of any electric three-wheeler. These advancements in batteries are expected to increase the performance and range of electric vehicles. The range is one of the most important reasons that users are still a bit hesitant to prefer electric three-wheelers over ICE three-wheelers. However, government bodies are working with manufacturers to provide the necessary charging infrastructure network. Because of all these benefits, electric three-wheelers are the future of the automotive industry.

COVID-19 has had a significant impact on the electric three-wheeler market. Both the production and sales of new electric three-wheeler came to a halt as the whole ecosystem got disrupted. OEMs had to wait until lockdowns were lifted to resume production, which affected their business. Post the pandemic, the demand for new electric three-wheeler is expected to show an increase as economies are recovering steadily. Nevertheless, another wave of COVID-19 due to newer strains may hamper the recovery in some countries. Subsequently, electric three-wheeler manufacturers would need to adjust the production volume based on the COVID-19 scenario across different countries. In addition, component manufacturing too was suspended, and small Tier II and Tier III manufacturers are facing face liquidity issues. Thus, production suspension during the outbreak and lower demand post the pandemic might have an unprecedented impact on electric three-wheeler providers.

"GROWING ADOPTION OF EECTRIC THREE-WHEELER BY LOGISTICS COMPANIES TO DRIVE THE MARKET"

Various retail, logistics, and courier companies have already started adopting electric three-wheelers on a small scale. With advancements in technology and the development of more vehicles, the adoption rate of electric three-wheeler load carriers will grow exponentially. For instance, in February 2021, Flipkart announced that it is planning to deploy 25,000 electric vehicles by 2030 in line with its aim to transition its entire logistics fleet across cities to green energy vehicles. Flipkart's EV fleet will comprise two-, three-, and four-wheeler vehicles designed and assembled in India. The company has partnered with prominent electric three-wheeler manufacturers like Mahindra Electric and Piaggio to make customized vehicles. Also, in February 2021, Amazon India and Mahindra Electric announced a partnership under which the ecommerce company deployed the latter's electric three-wheeler in its delivery network as part of a commitment toward strengthening electric mobility in the country.

Although electric three-wheelers have been predominantly successful in short-distance passenger applications so far, these are now being seen as promising transportation modes for last-mile load delivery as well. Several startups are entering the market to provide customized electric three-wheeler load carrier solutions. This is further driving the growth of the segment. In August 2019, Euler Motors, a Delhi-based automotive tech startup, launched an electric three-wheeler load carrier, targeting fleet operators working for ecommerce companies. The company has already set out a fleet of some 140 prototype electric three-wheeler delivery vehicles that are on trial runs for over a year in the operations of companies like BigBasket, Blue Dart, Ecom Express, and Udaan.

The supply chain industry is constantly transforming by adopting green technology for transportation. An increased need for efficiency, differentiated routes to market, access to new geographies, and acceptance of digital supply chain solutions are transforming the supply chain. With transformations in the supply chain, the demand for specialized and customized electric three-wheelers is growing. For instance, in 2021, Omega Seiki Mobility launched an electric three-wheeler with a refrigerated carriage purposely designed for pharmaceuticals and food delivery. The company also aims to assist in the COVID-19 vaccine drive by providing vehicles for last-mile delivery. Transportation of refrigerated goods will have significant growth in coming years, especially in Asia Pacific. Goods such as fruits and vegetables, meat, fish, poultry, dairy products, confectionery, and pharmaceuticals require delicate transportation under certain controlled temperatures. This is estimated to drive demand for electric three-wheeler refrigerated load carriers over the estimated period

"Last-mile delivery to boost the market of Electric three-wheeler in India"

The market for electric three-wheelers in India is the largest in Asia Pacific and is expected to witness high growth in the long term. India is amongst the top consumers of electric three-wheelers. The low emission vehicle industry in India is developing rapidly with the support of the government and manufacturers such as Mahindra & Mahindra, Atul Auto, Piaggio, and Lohia Auto. India is one of the largest contributors to greenhouse gases and has pledged to reduce emissions from petrol and diesel cars during the next few decades. This initiative by the Indian government is expected to lead to significant demand for electric three-wheelers in the country. The government of India has announced various plans to support the development of electric three-wheeler infrastructure. For instance, the Faster Adoption and Manufacturing of Hybrid and EV (FAME) II Scheme, effective from April 2019, has an outlay of USD 1.4 billion to be used for upfront incentives on the purchase of EVs (USD 1.19 billion) and for supporting the deployment of charging infrastructure (USD 1.9 million). This phase aims to generate demand by supporting 0.5 million electric three-wheelers.

Government policies have encouraged private logistics companies to adopt electric three-wheelers. The motivation for adoption is mostly to reduce carbon footprint. The shift to electric three-wheelers is also in line with the Government of India's commitment to reduce carbon footprint, which encourages fuel-based three-wheelers to be replaced with electrically powered vehicles. According to industry experts, the addition of electric vehicles will help cut down last-mile delivery costs by up to 50% and carbon footprint by more than 40%.

Large logistics spaces, mainly for lease, are growing rapidly in India. The drivers of growth for logistics, supply chain, and warehousing include the demand from third-party logistics operators and ecommerce companies. This is fuelling the demand for electric three-wheelers in intracity transportation.

"Favourable government policies in Bangladesh to drive the market"

Electric three-wheelers are popularly known as easy-bikes and Tom-Toms in some districts of Bangladesh. They have been in use in the country since 2004 and become one of the most widely used means of transportation for the masses in both urban and rural areas. The country is significantly focused on the adoption of electric vehicles. The government is rolling out policies to increase the penetration of electric vehicles, which, in turn, will drive the electric three-wheeler market. In 2020, the government drafted an industrial policy to try and attract electric vehicle production lines and even solar-powered electric-vehicles to the country.

Electric three-wheelers are increasingly replacing ICE three-wheelers in Bangladesh. Conventional three-wheeler is widely used in the country for short distance commuting. Comfort, lower travel cost than conventional three-wheelers, and no harmful effects on the environment are the prominent drivers of electric three-wheeler adoption in the country. The adoption of electric three-wheelers is expected to increase the physical and social mobility of ordinary people. Merits of electric three-wheelers as an easy and comfortable means of transportation and suitable government policies are propelling the growth of the market in the country. Automobile Industry Development Policy-2020 focuses on electric vehicles (EVs). The Bangladeshi government is preparing an auto industry policy that will call for at least 15% of registered vehicles to be powered by electricity by 2030.

The study contains insights from various industry experts, ranging from component suppliers to tier 1 companies and OEMs. The break-up of the primaries is as follows:

  • By Company Type: Tier 1 - 57%, Tier 2 - 29%, Others - 14%
  • By Designation: C level - 54%, D level - 32%, Others - 14%
  • By Region: India- 57%, Nepal - 14%, Bangladesh - 12%, Sri Lanka -10%, Others-7%

Major players profiled in the report are Mahindra & Mahindra Ltd. (India), Atul Auto Ltd. (India), Piaggio Group (Italy), Lohia Auto Industries (India), and Kinetic Engineering Limited (India).

Research Coverage

The report segments the Asia Pacific electric three-wheeler market and forecasts its size, by volume, on the basis of country (Bangladesh, Nepal, India, Sri Lanka, China, Japan, Thailand, the Philippines, Indonesia, and Singapore), by end-use (passenger carrier & Load carrier), range (upto 50 miles & above 50 miles), battery type (lead acid & lithium ion), battery capacity (below 3kWh, 3kWh-6kWh, above 6kWh), motor power (below 1,000 W, 1,000-1,500 W & above 1,500 W). It also covers the competitive landscape and company profiles of the major players in the Asia Pacific electric three-wheeler market ecosystem.

Key Benefits of Buying the Report:

  • The report will help market leaders/new entrants in this market with information on the closest approximations of revenue and volume numbers for the Asia Pacific electric three-wheeler market and its sub segments.
  • This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
  • The report will also help the market players understand the impact of COVID-19 on electric three-wheeler market.
  • The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
Product Code: AT 7860

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 OBJECTIVES OF THE STUDY
  • 1.2 MARKET DEFINITIONS
    • 1.2.1 INCLUSIONS & EXCLUSIONS
    • TABLE 1 INCLUSIONS & EXCLUSIONS: ELECTRIC THREE-WHEELER MARKET
  • 1.3 MARKET SCOPE
    • FIGURE 1 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: MARKET SEGMENTATION
    • 1.3.1 YEARS CONSIDERED FOR THE STUDY
  • 1.4 CURRENCY & PRICING
    • TABLE 2 CURRENCY EXCHANGE
  • 1.5 PACKAGE SIZE
  • 1.6 LIMITATIONS
  • 1.7 STAKEHOLDERS

2 RESEARCH METHODOLOGY

  • 2.1 RESEARCH DATA
    • FIGURE 2 ELECTRIC THREE-WHEELER MARKET: RESEARCH DESIGN
    • FIGURE 3 RESEARCH METHODOLOGY MODEL
  • 2.2 SECONDARY DATA
    • 2.2.1 KEY SECONDARY SOURCES
    • 2.2.2 KEY DATA FROM SECONDARY SOURCES
  • 2.3 PRIMARY DATA
    • FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
    • 2.3.1 SAMPLING TECHNIQUES & DATA COLLECTION METHODS
    • 2.3.2 PRIMARY PARTICIPANTS
  • 2.4 MARKET ESTIMATION METHODOLOGY
    • FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
  • 2.5 MARKET SIZE ESTIMATION
    • 2.5.1 BOTTOM-UP APPROACH
    • FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY FOR ELECTRIC THREE-WHEELER MARKET: BOTTOM-UP APPROACH
    • 2.5.2 TOP-DOWN APPROACH
    • FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY FOR ELECTRIC THREE-WHEELER MARKET: TOP-DOWN APPROACH
    • FIGURE 8 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: RESEARCH DESIGN AND METHODOLOGY
    • 2.5.3 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDE
  • 2.6 MARKET BREAKDOWN AND DATA TRIANGULATION
    • FIGURE 9 DATA TRIANGULATION
  • 2.7 FACTOR ANALYSIS
  • 2.8 RESEARCH ASSUMPTIONS & LIMITATIONS
  • 2.9 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY

    • FIGURE 10 ELECTRIC THREE-WHEELER MARKET: MARKET DYNAMICS
    • FIGURE 11 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2021-2026 (UNITS)
    • FIGURE 12 PASSENGER CARRIER SEGMENT COVERS THE LARGEST MARKET SHARE IN ELECTRIC THREE-WHEELER MARKET, BY END-USE
    • FIGURE 13 IMPACT OF COVID-19 ON THE ELECTRIC THREE-WHEELER MARKET, 2021-2026

4 PREMIUM INSIGHTS

  • 4.1 ATTRACTIVE OPPORTUNITIES IN ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET
    • FIGURE 14 ADOPTION OF EFFICIENT AND EMISSION FREE VEHICLES TO DRIVE THE MARKET
  • 4.2 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY
    • FIGURE 15 INDIA ESTIMATED TO BE LARGEST MARKET IN 2021
  • 4.3 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER
    • FIGURE 16 1,000-1,500 W SEGMENT EXPECTED TO BE THE LARGEST, 2021 VS. 2026 (UNITS)
  • 4.4 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY BATTERY TYPE
    • FIGURE 17 LEAD-ACID BATTERY SEGMENT EXPECTED TO BE THE LARGEST, 2021 VS. 2026 (UNITS)
  • 4.5 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY RANGE
    • FIGURE 18 UP TO 50 MILES SEGMENT IS EXPECTED TO BE THE LARGEST, 2021 VS. 2026 (UNITS)
  • 4.6 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY BATTERY CAPACITY
    • FIGURE 19 3-6 KWH SEGMENT EXPECTED TO BE THE LARGEST, 2021 VS. 2026 (UNITS)
  • 4.7 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY END USE
    • FIGURE 20 PASSENGER CARRIER SEGMENT EXPECTED TO BE THE LARGEST, 2021 VS. 2026 (UNITS)

5 MARKET OVERVIEW

  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    • FIGURE 21 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: MARKET DYNAMICS
    • 5.2.1 DRIVERS
      • 5.2.1.1 Low operating and maintenance costs
      • 5.2.1.2 Government incentives and subsidies
    • TABLE 3 INDIA: GOVERNMENT INCENTIVE, BY STATE
    • TABLE 4 GOVERNMENT INCENTIVES, BY COUNTRY
      • 5.2.1.3 Advancements in battery technologies coupled with reducing prices
    • FIGURE 22 PRICE OF EV BATTERY PER KWH
      • 5.2.1.4 Established market of three-wheelers for urban transportation
    • TABLE 5 THREE-WHEELER DOMESTIC SALES IN INDIA (THOUSAND UNITS)
    • 5.2.2 RESTRAINTS
      • 5.2.2.1 Lack of charging infrastructure
    • TABLE 6 INDIA: SPECIFICATIONS OF CHARGING INFRASTRUCTURE
      • 5.2.2.2 Lack of power output and limited range
    • TABLE 7 ELECTRIC THREE-WHEELER RANGE
    • 5.2.3 OPPORTUNITIES
      • 5.2.3.1 Government bodies backing electric three-wheelers
    • TABLE 8 GOVERNMENT EV POLICY, BY COUNTRY
      • 5.2.3.2 Implementation of stringent emission norms and environmental regulations
    • FIGURE 23 GLOBAL FUEL ECONOMY AND CO2 EMISSION DATA (2016-2025)
    • TABLE 9 KEY COUNTRIES: EMISSION REGULATION SPECIFICATIONS OVERVIEW, BY FUEL TYPE, 2016-2021
      • 5.2.3.3 New revenue pockets in Asia Pacific
    • 5.2.4 CHALLENGES
      • 5.2.4.1 Limited battery capacity
    • TABLE 10 BATTERY CAPACITIES OF POPULAR ELECTRIC THREE-WHEELER MODELS
      • 5.2.4.2 High initial investments
    • FIGURE 24 AVERAGE TOTAL COST OF DIESEL VS ELECTRIC THREE-WHEELER
  • 5.3 IMPACT OF MARKET DYNAMICS
    • TABLE 11 ELECTRIC THREE-WHEELER MARKET: IMPACT OF MARKET DYNAMICS
  • 5.4 PORTER'S FIVE FORCES
    • FIGURE 25 PORTER'S FIVE FORCES: ELECTRIC THREE-WHEELER MARKET
    • FIGURE 26 PORTER'S FIVE FORCES: ELECTRIC THREE-WHEELER MARKET
    • TABLE 12 PORTER'S FIVE FORCES ANALYSIS
    • 5.4.1 DEGREE OF COMPETITION
    • FIGURE 27 LARGE NUMBER OF PLAYERS LEADS TO HIGH DEGREE OF COMPETITION IN ELECTRIC THREE-WHEELER MARKET
    • 5.4.2 THREAT OF NEW ENTRANTS
    • FIGURE 28 GOVERNMENT BACKING MARKET GROWTH MAKES NEW ENTRY FAIRLY EASY
    • 5.4.3 THREAT OF SUBSTITUTES
    • FIGURE 29 DEVELOPMENT OF CLEANER FUEL MAKES THREAT OF SUBSTITUTES HIGH
    • 5.4.4 BARGAINING POWER OF SUPPLIERS
    • FIGURE 30 LARGE NUMBER OF SUPPLIERS MAKES BARGAINING POWER OF SUPPLIERS MEDIUM
    • 5.4.5 BARGAINING POWER OF BUYERS
    • FIGURE 31 INCREASING DEMAND FOR ELECTRIC THREE-WHEELERS MAKES BARGAINING POWER OF BUYERS HIGH
  • 5.5 PRICING ANALYSIS
    • TABLE 13 ELECTRIC THREE-WHEELER PRICING ANALYSIS
    • FIGURE 32 LITHIUM-ION BATTERY PRICING ANALYSIS (USD/KWH)
    • FIGURE 33 LEAD ACID BATTERY PRICING ANALYSIS (USD/KWH)
  • 5.6 SUPPLY CHAIN ANALYSIS
    • TABLE 14 ELECTRIC THREE-WHEELER MARKET: SUPPLY CHAIN
    • FIGURE 34 ELECTRIC THREE-WHEELER MARKET: SUPPLY CHAIN ANALYSIS
    • 5.6.1 RAW MATERIAL SUPPLIER
    • 5.6.2 COMPONENT SUPPLIERS
    • 5.6.3 ELECTRIC THREE-WHEELER OEMS
    • 5.6.4 END USERS
  • 5.7 TECHNOLOGY ANALYSIS
    • 5.7.1 BATTERY SWAPPING IN ELECTRIC THREE-WHEELER
  • 5.8 IOT IN ELECTRIC THREE-WHEELER
  • 5.9 REGENERATIVE BRAKING
  • 5.10 SMART CHARGING SYSTEM
  • 5.11 TRADE/SALES DATA
    • 5.11.1 INDIA
    • TABLE 15 THREE-WHEELER PRODUCTION IN INDIA (THOUSAND UNITS)
  • 5.12 REVENUE SHIFT FOR ELECTRIC THREE-WHEELER MANUFACTURERS
    • FIGURE 35 SHIFT OF FOCUS TOWARDS ELECTRIC THREE-WHEELER
  • 5.13 CASE STUDY
    • 5.13.1 ELECTRIC THREE-WHEELER LOGISTICS FLEET OPERATION WITH CAPTIVE PLUG-IN CHARGING
    • 5.13.2 ELECTRIC THREE-WHEELER LOGISTICS FLEET OPERATION WITH BATTERY SWAPPING
  • 5.14 REGULATORY OVERVIEW
    • 5.14.1 INDIA
    • TABLE 16 INDIA REGULATORY FRAMEWORK: DIFFERENCE BETWEEN ROLE OF E- RICKSHAW AND ELECTRIC AUTO RICKSHAW
    • 5.14.2 CHINA
  • 5.15 INTRODUCTION TO COVID-19
  • 5.16 COVID-19 HEALTH ASSESSMENT
    • FIGURE 36 COVID-19: GLOBAL PROPAGATION
    • FIGURE 37 COVID-19 PROPAGATION: SELECT COUNTRIES
  • 5.17 COVID-19 ECONOMIC ASSESSMENT
    • FIGURE 38 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
    • 5.17.1 COVID-19 ECONOMIC IMPACT-SCENARIO ASSESSMENT
    • FIGURE 39 CRITERIA IMPACTING GLOBAL ECONOMY
    • FIGURE 40 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY
  • 5.18 ELECTRIC THREE-WHEELER MARKET: COVID-19 IMPACT
    • 5.18.1 IMPACT ON RAW MATERIAL SUPPLY
    • 5.18.2 IMPACT ON ELECTRIC THREE-WHEELER PRODUCTION
    • 5.18.3 IMPACT DUE ON ELECTRIC THREE-WHEELER DEMAND
  • 5.19 ELECTRIC THREE-WHEELER MARKET, MARKET SCENARIOS (2020-2026)
    • FIGURE 41 ELECTRIC THREE-WHEELER MARKET: FUTURE TRENDS & SCENARIOS, 2020-2026
    • 5.19.1 MOST LIKELY SCENARIO
    • TABLE 17 ELECTRIC THREE-WHEELER MARKET: MOST LIKELY SCENARIO, BY COUNTRY, 2020-2026 (UNITS)
    • 5.19.2 OPTIMISTIC SCENARIO
    • TABLE 18 ELECTRIC THREE-WHEELER MARKET: OPTIMISTIC SCENARIO, BY COUNTRY, 2020-2026 (UNITS)
    • 5.19.3 PESSIMISTIC SCENARIO
    • TABLE 19 ELECTRIC THREE-WHEELER MARKET: PESSIMISTIC SCENARIO, BY COUNTRY, 2020-2026 (UNITS)

6 ELECTRIC THREE-WHEELER MARKET, BY BATTERY CAPACITY

  • 6.1 INTRODUCTION
    • FIGURE 42 3-6 KWH SEGMENT IS EXPECTED TO COVER THE LARGEST MARKET SHARE IN 2021
    • TABLE 20 ELECTRIC THREE-WHEELER MARKET, BY BATTERY CAPACITY, 2018-2020 (UNITS)
    • TABLE 21 ELECTRIC THREE-WHEELER MARKET, BY BATTERY CAPACITY, 2021-2026 (UNITS)
  • 6.2 OPERATIONAL DATA
    • TABLE 22 POPULAR ELECTRIC THREE-WHEELER MODELS WITH BATTERY CAPACITY
    • 6.2.1 ASSUMPTIONS
    • TABLE 23 ASSUMPTIONS: BY BATTERY CAPACITY
  • 6.3 RESEARCH METHODOLOGY
  • 6.4 BELOW 3 KWH
    • 6.4.1 DEMAND FOR AFFORDABLE TRANSPORTATION TO DRIVE THE SEGMENT
  • 6.5 3-6 KWH
    • 6.5.1 INCREASING DEMAND IN INTRACITY TRAVEL TO DRIVE THE SEGMENT
  • 6.6 ABOVE 6 KWH
    • 6.6.1 ADOPTION OF LOAD CARRIERS BY THE LOGISTIC COMPANIES TO DRIVE THE SEGMENT
  • 6.7 KEY PRIMARY INSIGHTS
    • FIGURE 43 KEY PRIMARY INSIGHTS

7 ELECTRIC THREE-WHEELER MARKET, BY RANGE

  • 7.1 INTRODUCTION
    • FIGURE 44 ABOVE 50 MILES IS EXPECTED TO REGISTER HIGHER CAGR DURING THE FORECAST PERIOD
    • TABLE 24 ELECTRIC THREE-WHEELER MARKET, BY RANGE, 2018-2020 (UNITS)
    • TABLE 25 ELECTRIC THREE-WHEELER MARKET, BY RANGE, 2021-2026 (UNITS)
  • 7.2 OPERATIONAL DATA
    • TABLE 26 POPULAR ELECTRIC THREE-WHEELER MODELS WITH RANGE
    • 7.2.1 ASSUMPTIONS
    • TABLE 27 ASSUMPTIONS: BY RANGE
  • 7.3 RESEARCH METHODOLOGY
  • 7.4 UP TO 50 MILES
    • 7.4.1 DEMAND FOR AFFORDABLE ELECTRIC THREE-WHEELERS TO DRIVE THE SEGMENT
    • TABLE 28 UP TO 50 MILES: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2018-2020 (UNITS)
    • TABLE 29 UP TO 50 MILES: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2021-2026 (UNITS)
  • 7.5 ABOVE 50 MILES
    • 7.5.1 INCREASING BATTERY ENERGY DENSITY TO DRIVE THE SEGMENT
    • TABLE 30 ABOVE 50 MILES: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2018-2020 (UNITS)
    • TABLE 31 ABOVE 50 MILES: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2021-2026 (UNITS)
  • 7.6 KEY PRIMARY INSIGHTS
    • FIGURE 45 KEY PRIMARY INSIGHTS

8 ELECTRIC THREE-WHEELER MARKET, BY END-USE

  • 8.1 INTRODUCTION
    • FIGURE 46 LOAD CARRIER SEGMENT EXPECTED TO REGISTER HIGHER CAGR DURING THE FORECAST PERIOD
    • TABLE 32 ELECTRIC THREE-WHEELER MARKET, BY END-USE, 2018-2020 (UNITS)
    • TABLE 33 ELECTRIC THREE-WHEELER VEHICLE MARKET, BY END USE, 2021-2026 (UNITS)
  • 8.2 OPERATIONAL DATA
    • TABLE 34 POPULAR ELECTRIC THREE-WHEELER MODELS
    • 8.2.1 ASSUMPTIONS
    • TABLE 35 ASSUMPTIONS: BY END-USE TYPE
  • 8.3 RESEARCH METHODOLOGY
  • 8.4 PASSENGER CARRIER
    • 8.4.1 NEED FOR LOWER EMISSIONS AND OPERATIONAL COSTS TO DRIVE THE SEGMENT
    • TABLE 36 PASSENGER CARRIER: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2018-2020 (UNITS)
    • TABLE 37 PASSENGER CARRIER: ELECTRIC THREE-WHEELER VEHICLE MARKET, BY COUNTRY, 2021-2026 (UNITS)
  • 8.5 LOAD CARRIER
    • 8.5.1 GROWING ADOPTION BY LOGISTICS COMPANIES TO DRIVE THE SEGMENT
    • TABLE 38 LOAD CARRIER: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2018-2020 (UNITS)
    • TABLE 39 LOAD CARRIER: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2021-2026 (UNITS)
  • 8.6 KEY PRIMARY INSIGHTS
    • FIGURE 47 KEY PRIMARY INSIGHTS

9 ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER

  • 9.1 INTRODUCTION
    • FIGURE 48 1,000-1,500 W SEGMENT IS EXPECTED TO COVER THE LARGEST MARKET SHARE
    • TABLE 40 ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER, 2018-2020 (UNITS)
    • TABLE 41 ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER, 2021-2026 (UNITS)
  • 9.2 OPERATIONAL DATA
    • TABLE 42 POPULAR ELECTRIC THREE-WHEELER MODELS WITH MOTOR POWER
    • TABLE 43 SUMMARY OF ICE AND ELECTRIC THREE-WHEELER LOAD CARRIER
    • FIGURE 49 ELECTRIC THREE-WHEELER POWERTRAIN ARCHITECTURE
    • TABLE 44 FACTORS DECIDING MOTOR POWER OF ELECTRIC THREE-WHEELERS
    • 9.2.1 ASSUMPTIONS
    • TABLE 45 ASSUMPTIONS: BY MOTOR POWER
  • 9.3 RESEARCH METHODOLOGY
  • 9.4 BELOW 1,000 W
    • 9.4.1 RISE IN DEMAND FOR ENERGY-EFFICIENT MODES OF COMMUTING TO BOOST THE SEGMENT
  • 9.5 1,000-1,500 W
    • 9.5.1 MOTOR POWER WITHIN A RANGE OF 1,000-1,500 W IS MORE FEASIBLE FOR ELECTRIC THREE-WHEELER APPLICATIONS
  • 9.6 ABOVE 1,500 W
    • 9.6.1 ELECTRIC THREE-WHEELER WITH ABOVE 1,500 W MOTOR PROVIDE BOTH DISTRIBUTION AND CONSUMER DELIVERY SERVICES
  • 9.7 KEY PRIMARY INSIGHTS
    • FIGURE 50 KEY PRIMARY INSIGHTS

10 ELECTRIC THREE-WHEELER MARKET, BY BATTERY TYPE

  • 10.1 INTRODUCTION
    • FIGURE 51 LITHIUM-ION BATTERY SEGMENT PROJECTED TO GROW AT HIGHER CAGR
    • TABLE 46 ELECTRIC THREE-WHEELER MARKET, BY BATTERY TYPE, 2018-2020 (UNITS)
    • TABLE 47 ELECTRIC THREE-WHEELER MARKET, BY BATTERY TYPE, 2021-2026 (UNITS)
  • 10.2 OPERATIONAL DATA
    • TABLE 48 POPULAR ELECTRIC THREE-WHEELER MODELS WITH BATTERY TYPE
    • 10.2.1 ASSUMPTIONS
    • TABLE 49 ASSUMPTIONS: BY BATTERY TYPE
  • 10.3 RESEARCH METHODOLOGY
  • 10.4 LEAD-ACID BATTERY
    • 10.4.1 LOW COST TO DRIVE THE SEGMENT
  • 10.5 LITHIUM-ION BATTERY
    • 10.5.1 HIGH ENERGY DENSITY TO DRIVE THE SEGMENT
  • 10.6 KEY PRIMARY INSIGHTS
    • FIGURE 52 KEY PRIMARY INSIGHTS

11 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY

  • 11.1 INTRODUCTION
    • FIGURE 53 INDIA ESTIMATED TO BE LARGEST MARKET SHARE IN 2021
    • FIGURE 54 FAVORABLE GOVERNMENT POLICIES WOULD DRIVE THE ASIA PACIFIC ELECTRIC THREE-WHELER MARKET
    • TABLE 50 ASIA PACIFIC: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2018-2020 (UNITS)
    • TABLE 51 ASIA PACIFIC: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2021-2026 (UNITS)
    • 11.1.1 INDIA
      • 11.1.1.1 Last-mile delivery to boost the market
    • TABLE 52 INDIA: GOVERNMENT INCENTIVES, BY STATE
    • TABLE 53 COMPANIES THAT ADOPTED ELECTRIC THREE-WHEELER LOAD CARRIERS
    • TABLE 54 DEVELOPMENTS REGARDING BATTERY SWAPPING STATIONS
    • TABLE 55 INDIA: ELECTRIC THREE-WHEELER MARKET, BY END-USE, 2018-2020 (UNITS)
    • TABLE 56 INDIA: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021-2026 (UNITS)
    • 11.1.2 JAPAN
      • 11.1.2.1 Stringent emission standards to drive the market
    • TABLE 57 JAPAN: ELECTRIC THREE-WHEELER MARKET, BY END-USE, 2018-2020 (UNITS)
    • TABLE 58 JAPAN: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021-2026 (UNITS)
    • 11.1.3 THAILAND
      • 11.1.3.1 Need for an alternative to conventional fuel dependency to drive the market
    • TABLE 59 THAILAND: ELECTRIC THREE-WHEELER MARKET, BY END-USE, 2018-2020 (UNITS)
    • TABLE 60 THAILAND: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021-2026 (UNITS)
    • 11.1.4 BANGLADESH
      • 11.1.4.1 Favorable government policies to drive the market
    • TABLE 61 BANGLADESH: ELECTRIC THREE-WHEELER MARKET, BY END-USE, 2018-2020 (UNITS)
    • TABLE 62 BANGLADESH: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021-2026 (UNITS)
    • 11.1.5 NEPAL
      • 11.1.5.1 Development in charging infrastructure to drive the market
    • TABLE 63 NEPAL'S NATIONALLY DETERMINED ADOPTION OF ELECTRIC VEHICLES
    • TABLE 64 NEPAL: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2018-2020 (UNITS)
    • TABLE 65 NEPAL: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021-2026 (UNITS)
    • 11.1.6 SRI LANKA
      • 11.1.6.1 Growing demand from tourism industry to drive the market
    • TABLE 66 SRI LANKA: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2018-2020 (UNITS)
    • TABLE 67 SRI LANKA: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021-2026 (UNITS)
    • 11.1.7 INDONESIA
      • 11.1.7.1 Tax incentives like reduction of import duties on components to drive the market
    • TABLE 68 INDONESIA: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2018-2020 (UNITS)
    • TABLE 69 INDONESIA: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021-2026 (UNITS)
    • 11.1.8 PHILIPPINES
      • 11.1.8.1 Adoption in major business districts and urban areas to drive the market
    • TABLE 70 PHILIPPINES: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2018-2020 (UNITS)
    • TABLE 71 PHILIPPINES: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021-2026 (UNITS)
    • 11.1.9 CHINA
    • 11.1.10 SINGAPORE

12 COMPETITIVE LANDSCAPE

  • 12.1 MARKET EVALUATION FRAMEWORK
    • FIGURE 55 MARKET EVALUATION FRAMEWORK
  • 12.2 OVERVIEW
    • FIGURE 56 KEY DEVELOPMENTS BY LEADING PLAYERS IN ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET
  • 12.3 MARKET SHARE ANALYSIS FOR ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET
    • TABLE 72 MARKET SHARE ANALYSIS, 2017-2020
    • FIGURE 57 MARKET SHARE ANALYSIS, 2020
  • 12.4 MARKET EVALUATION FRAMEWORK: REVENUE ANALYSIS OF TOP LISTED/ PUBLIC PLAYERS
    • FIGURE 58 TOP PUBLIC/LISTED PLAYERS DOMINATING THE ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET IN LAST 5 YEARS
  • 12.5 COMPETITIVE SCENARIO
    • 12.5.1 NEW PRODUCT LAUNCHES
    • TABLE 73 NEW PRODUCT LAUNCHES, 2017-2020
    • 12.5.2 DEALS
    • TABLE 74 DEALS, 2017-2020
    • 12.5.3 EXPANSIONS, 2017-2020
    • TABLE 75 EXPANSIONS, 2017-2020
  • 12.6 COMPETITIVE LEADERSHIP MAPPING FOR ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET
    • 12.6.1 STARS
    • 12.6.2 EMERGING LEADERS
    • 12.6.3 PERVASIVE
    • 12.6.4 PARTICIPANTS
    • FIGURE 59 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: COMPETITIVE LEADERSHIP MAPPING FOR VEHICLE MANUFACTURERS, 2020
    • TABLE 76 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: COMPANY FOOTPRINT, 2020
    • TABLE 77 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: COMPANY APPLICATION FOOTPRINT, 2020
    • TABLE 78 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: REGIONAL FOOTPRINT, 2020
  • 12.7 WINNERS VS. TAIL-ENDERS
    • TABLE 79 WINNERS VS. TAIL-ENDERS

13 COMPANY PROFILES

  • (Business overview, Products offered, Recent developments & MnM View)**
  • 13.1 KEY PLAYERS
    • 13.1.1 MAHINDRA & MAHINDRA LTD.
    • TABLE 80 MAHINDRA & MAHINDRA LTD.: BUSINESS OVERVIEW
    • TABLE 81 UNITS MANUFACTURE BY MAHINDRA & MAHINDRA LTD. IN 2019
    • FIGURE 60 MAHINDRA & MAHINDRA LTD.: COMPANY SNAPSHOT
    • 13.1.2 ATUL AUTO LTD.
    • TABLE 82 ATUL AUTO LTD.: BUSINESS OVERVIEW
    • TABLE 83 ATUL AUTO LTD.: DOMESTIC SALES
    • TABLE 84 ATUL AUTO LTD.: EXPORT SALES
    • FIGURE 61 ATUL AUTO LTD.: COMPANY SNAPSHOT
    • 13.1.3 PIAGGIO GROUP
    • TABLE 85 PIAGGIO GROUP: BUSINESS OVERVIEW
    • TABLE 86 PIAGGIO GROUP: VEHICLE SOLD ('000 UNITS)
    • FIGURE 62 PIAGGIO GROUP: COMPANY SNAPSHOT
    • 13.1.4 LOHIA AUTO INDUSTRIES
    • TABLE 87 LOHIA AUTO INDUSTRIES: BUSINESS OVERVIEW
    • 13.1.5 KINETIC ENGINEERING LIMITED
    • TABLE 88 KINETIC ENGINEERING LIMITED: BUSINESS OVERVIEW
    • FIGURE 63 KINETIC ENGINEERING LIMITED: COMPANY SNAPSHOT
    • 13.1.6 JIANGSU JINPENG GROUP CO., LTD.
    • TABLE 89 JIANGSU JINPENG GROUP CO., LTD.: BUSINESS OVERVIEW
    • 13.1.7 SKYRIDE AUTOMOTIVE
    • TABLE 90 SKYRIDE AUTOMOTIVE: BUSINESS OVERVIEW
    • 13.1.8 SHADO GROUP INTERNATIONAL PTE. LTD.
    • TABLE 91 SHADO GROUP INTERNATIONAL PTE. LTD.: BUSINESS OVERVIEW
    • 13.1.9 BEEVATECH LIMITED
    • TABLE 92 BEEVATECH LIMITED: BUSINESS OVERVIEW
    • 13.1.10 SL MOBILITY
    • TABLE 93 SL MOBILITY: BUSINESS OVERVIEW
  • *Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
  • 13.2 OTHER PLAYERS
    • 13.2.1 TERRA MOTORS CORPORATION
    • 13.2.2 CHANGZHOU YUFENG VEHICLE CO., LTD.
    • 13.2.3 XIANGHE QIANGSHENG ELECTRIC TRICYCLE FACTORY
    • 13.2.4 JIANGSU EAST YONSLAND VEHICLE MANUFACTURING CO., LTD.
    • 13.2.5 ELECTRIC VEHICLES (THAILAND) CO., LTD.
    • 13.2.6 PROZZA HIROSE MANUFACTURING INC. (PHILIPPINES)
    • 13.2.7 BAJAJ AUTO
    • 13.2.8 GAYAM MOTOR WORKS PRIVATE LIMITED
    • 13.2.9 BEMAC CORPORATION
    • 13.2.10 SPEEGO VEHICLES CO. PVT. LIMITED
    • 13.2.11 OMEGA SEIKI PRIVATE LIMITED
    • 13.2.12 KSL CLEANTECH LTD.
    • 13.2.13 ALTIGREEN
    • 13.2.14 GREEN SHUTTLE TECHNOLOGY PVT. LTD.
    • 13.2.15 KAWAOKA MACHINERY AND ELECTRIC (NANTONG) CO., LTD.

14 APPENDIX

  • 14.1 KEY INSIGHTS OF INDUSTRY EXPERTS
  • 14.2 DISCUSSION GUIDE
  • 14.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
  • 14.4 AVAILABLE CUSTOMIZATIONS
  • 14.5 RELATED REPORTS
  • 14.6 AUTHOR DETAILS