Global Three Wheeler Market to Grow at 4.3% until 2020
Growing
demand for passenger as well as load transportation to boost global
three-wheeler market through 2020
Global three-wheeler
market has been witnessing steady growth during 2010-2014, due to rising demand
in various developing countries across the globe. Over the next five years as
well, majority of the demand for three-wheelers is anticipated to emanate from
developing countries in Asia, Africa and Latin America. The passenger carrier
three-wheeler market continues to maintain its dominance in the overall market;
however, the demand for load carrier three-wheelers is expected to grow at a
stronger pace during 2015-2020. All major three-wheeler markets are highly
dependent on import of three-wheelers from India and China.
According to a
recently released TechSci Research report, “Global Three Wheeler Market Forecast and Opportunities, 2010 – 2020’’, the
global three-wheeler market is projected to grow at a CAGR of 4.3% during 2015
– 2020. In 2014, global three-wheeler market was dominated by India in terms of
sales as well as production of three-wheelers across globe. China and India together
accounted for a share of more than 50% in global three-wheeler market in 2014. A
number of leading three-wheeler manufacturers are located in India, with
India-based Bajaj Auto Limited accounting for a lion’s share in the global
three-wheeler market, followed by Piaggio C. & S.p.A. and TVS Motor
Company. Bajaj Auto is not only the leading producer, but also the largest exporter
of three-wheelers, globally, due to its wide dealership network and increasing
mergers with domestic players in other countries.
“India is
anticipated to continue its dominance in the global three-wheeler market through
2020. However, the country’s three-wheelers brands are anticipated to witness strong
competition from Chinese three-wheeler companies. Lack of adequate
transportation for citizens, and growing requirement for cargo transit due to the
rising logistics sector across all the developing countries, is anticipated to
drive sales of three-wheelers through 2020.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Three Wheeler Market Forecast and Opportunities, 2010 – 2020” has evaluated the future
growth potential of three-wheeler market and provides statistics and
information on market structure and trends of the global three-wheeler market.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment evaluation. Besides, the report also
identifies and analyzes emerging trends along with essential drivers,
challenges and opportunities available in global three-wheeler market.
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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