Electric Three Wheeler Sales to Reach $ 6 Billion by 2023, Led by APAC
Increasing pollution levels and
economical pricing of electric three-wheelers to drive demand for electric
three-wheelers through 2023
According to TechSci Research report, “Global Electric
Three-Wheeler Market By Vehicle Type, By
Battery Capacity, By Battery Type, By Region, Competition Forecast & Opportunities, 2013-2023”, the global electric three-wheeler market is
anticipated to surpass $ 6 billion by 2023 on the back of increasing government
support in the form of subsidies on electric three-wheelers, availability of
easy financing options, and ease of maintenance as compared to traditional three-wheelers.
Moreover, growing inclination of consumers towards electric vehicles due to
rising pollution levels is further anticipated to boost sales of electric three-wheelers
across the globe during the forecast period.
Browse 127 market
data Figures spread through 196 Pages and an in-depth TOC on Global
Electric Three-wheeler Market"
https://www.techsciresearch.com/report/global-electric-three-wheeler-market/2831.html
With a majority volume share in 2017, passenger carrier
segment dominated the global electric three-wheeler market, followed by load
carrier segment. On account of growing requirement for technologically advanced
and sustainable automobiles to curb the rising pollution levels across the
globe, the demand for electric three-wheelers is expected to surge at a robust pace
during the forecast period. Among battery types, lead acid battery based electric
three-wheelers dominated the market in 2017, backed by their economical pricing
as compared to lithium ion batteries. Moreover, lead acid batteries are easier
to maintain and have low running per km cost, which is further contributing to
their high demand. The electric three-wheeler market was witnessed to be largely
concentrated in the APAC region, majorly owing to government support and easy
availability of financing options.
Entry of various automobile manufacturers such as Lohia, Kinetic, Clean
Motion, Hero, and various Chinese
companies, coupled with increasing R&D focus to manufacture technologically
advanced and affordable electric three-wheelers is anticipated to intensify the
market competition in the global electric three-wheeler market over the course
of next five years. “Rising inclination towards alternative and cleaner technologies
other than petrol, diesel and CNG is likely to aid the growth of electric
three-wheeler market in the coming years, globally. Moreover, electric three-wheelers
have several advantages over the conventional three-wheelers; the key one, in
addition to running on cleaner technology, being low vehicle maintenance. These
factors are expected to result in significantly boosting electric three-wheeler
sales in the coming years, especially in the Asia-Pacific region.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
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“Global Electric Three-Wheeler Market By Vehicle Type,
By Battery Capacity, By Battery Type, By Region, Competition Forecast & Opportunities, 2013-2023” has analyzed the potential
of electric three-wheeler market
across the country, 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 global electric
three-wheeler market.
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