Press Release

Asia Pacific to Continue its Dominance in Global Three Wheeler Market

Rising population, growing demand for last mile connectivity and increasing demand for passenger transportation to boost global three-wheeler market through 2022

According to TechSci Research report, Global Three Wheeler Market By Vehicle Type, By Region, Competition Forecast & Opportunities, 2012 - 2022, the global three wheeler market is anticipated to cross $ 6 billion by 2022. Expanding global population coupled with increasing acceptance of three-wheelers as an effective mode of transportation, especially in developing countries of Asia, Africa and Latin America, is expected to boost demand for three wheelers during the forecast period. Last mile connectivity is also one of the major factors expected to boost three wheeler adoption in the coming years.

In 2016, passenger carrier three-wheeler segment acquired a volume share of more than 75% in the global three wheeler market. Market dominance of the passenger carrier 3W segment is backed by the wide product range offered by the leading three-wheeler companies, coupled with surging 3W demand from developing countries. Further, load carrier three wheelers are being increasingly used for transporting goods, particularly for intra-city transportation by Micro, Small and Medium-sized Enterprises (MSMEs). Continuing expansion in MSME sector in Asia, Latin America and Africa is expected to contributing significantly to the global demand for load carrier three-wheelers over the next five years. Globally, Asia-Pacific accounts for the largest population in the world, and has significant demand for both passenger carrier as well as load carrier. The volume share of Asia-Pacific region in global three-wheeler market is projected to remain above 70% through 2022. Africa is the second largest market for three wheelers, and demand from the region is expected to grow during the forecast period due high demand from Egypt and Nigeria.

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Inefficient public transport system to handle the growing population is driving demand for passenger carrier three wheelers in developing and under-developed economies across the globe. “Insufficient availability of public transportation, underdeveloped transport & logistic infrastructure, low per capita income, and increasing unemployment are some of the key factors that are contributing to increasing adoption of three wheelers in developing as well as underdeveloped countries. Three wheelers offer an efficient, quick and economical way of transportation, especially in geographies where other transportation vehicles like buses, trucks, taxis, etc. cannot penetrate, and this phenomenon is expected to thrive three wheeler demand over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Three Wheeler Market By Vehicle Type, By Region, Competition Forecast & Opportunities, 2012 - 2022 evaluates the future growth potential of three wheeler market across the globe, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.

About TechSci Research

TechSci Research is a leading global market research firm publishing research reports. Serving 700 global clients with more than 600 research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


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