Electric Three Wheeler Market Size Worth USD 831.10 Million, Globally, by 2028 at 5.2% CAGR: Fortune Business Insights™

Pune, India, June 15, 2022 (GLOBE NEWSWIRE) -- The global electric three wheeler market size is anticipated to reach USD 831.10 million in 2028 from USD 582.46 million in 2021, at a Compound Annual Growth Rate (CAGR) of 5.2%. The global Electric three wheeler market size was USD 574.96 million in 2020.

The increasing demand from Electric three wheeler scooter over traditional ones is expected to drive market growth. Compared to the traditional three-wheelers, the average operation and maintenance costs of an electric three-wheeler are substantially low. Thus, demand for these has increased.

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/electric-three-wheeler-market-105028

Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2021-2028
Forecast Period 2021 to 2028 CAGR 5.2%
2026 Value Projection USD 831.10 Million
Base Year 2020
Market Size in 2021 USD 582.46 Million
Historical Data for 2017-2019
No. of Pages 200
Segments covered Lithium-ion and Lead Acid, Passenger Carrier and Goods Carrier
Growth Drivers Increased Government Initiatives and Subsidies to Promote Electric Three-Wheelers to Drive Growth
Asia Pacific to Dominate Backed by Presence Large Number of Turbine Plants

Regional Analysis-

Asia Pacific to Dominate Backed by Presence Large Number of Turbine Plants

Asia Pacific is expected to remain at the forefront and hold the largest position in the market during the forecast owing to the high demographic growth, a larger middle and lower-middle-class income population, and increasing inclination towards electrification of vehicles in this region. The region's market stood at USD 514.46 million in 2020.

Europe is expected to showcase significant market share in upcoming years, owing to the rapid adoption of vehicle electrification in this region. Electric three-wheeler manufacturers are investing exponentially in R&D for innovating technologically advanced mobility solutions.

Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/electric-three-wheeler-market-105028

Electric Three Wheeler Market Drivers & Restraints-

Increased Government Initiatives and Subsidies to Promote Electric Three-Wheelers to Drive Growth

The increasing demand for electric vehicles is expected to drive the electric three wheeler market growth. Moreover, initiatives by several governments, such as subsidy schemes and multiple reimbursement policies are expected to boost the market. For instance, the Indian government announced the launch of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India) in 2015. This scheme offers monetary incentives for the purchase of electric and hybrid electric vehicles.

Highlights of the Report-

The market report offers a comprehensive analysis of various factors such as the key drivers, and restraints which are likely to impact the market growth in upcoming years. The report also provides insights of different regions that are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration to contribute to the market growth.

Report Coverage-

  • The report provides insights into the political and economic scenarios of the market.
  • The report provides a detailed assessment of the growth potential, demographics, and capabilities of the market.
  • The report analyses the current and upcoming investment opportunities in the market.
  • The report highlights strategies for growth in the upcoming years.
  • The report also analyzes the impact of the COVID-19 pandemic.

Quick Buy - Electric Three Wheelers Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/105028

Competitive Landscape-

Key Players to Focus on New Launches to Strengthen their Market Prospects

The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development:

  • October 2020, Mahindra Electric Mobility launched an electric 3-wheeler cargo model, named Treo Zor. This vehicle is developed on Treo platform and is available in 3 different forms, i.e.  pickup, delivery van, and flatbed.

List of Players Operating in the Electric Three Wheeler Market are as follows:

  • Mahindra Electric Mobility Limited
  • Piaggio & C.SpA
  • Terra Motors
  • Kinetic Green Energy & Power Solutions Ltd.
  • Gayam Motor Works Pvt. Ltd
  • Lohia Auto Industries
  • Omega Seiki Pvt. Ltd
  • E-tuk
  • Bodo Vehicle Group Co. Ltd
  • Atul Auto Limited

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/electric-three-wheeler-market-105028

Electric Three Wheeler Market Segmentation:

By Battery Type:

  • Lithium-ion 
  • Lead Acid

By Power Type:

  • Up to 1000 W,
  • 1000 W to 1500 W
  • Above 1500

By End Use Type:

  • Passenger Carrier
  • Goods Carrier

Table of Content:

1. Introduction

1.1. Research Scope

1.2. Market Segmentation

1.3. Research Methodology

1.4. Definitions and Assumptions

2. Executive Summary

3. Market Dynamics

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities

4. Key Insights

4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships

4.2. Porter's Five Forces Analysis

4.3. SWOT Analysis

4.4. Technological Developments

4.5. Value Chain Analysis

4.6. Impact of COVID-19 on Electric Three Wheeler Market

5. Global Electric Three Wheeler Market Analysis, Insights and Forecast, 2017-2028

5.1. Key Findings / Summary


Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/electric-three-wheeler-market-105028

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

Posted In: M&ANewsContractsEconomicsPress Releases

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.