Report Description

Asia-Pacific Electric Three-Wheeler Market is growing due the government's strict pollution control regulations, growing public awareness of the dangers of emissions from gasoline and diesel vehicles, and a rise in the adoption of electric vehicles are the main factors driving the market.

Recent Developments

The market for electric three-wheelers is expanding because of the industry's increased focus on environment-friendly products because of rising emission standards. China, India, Japan, and other nations in the Asia-Pacific region are seeing an increase in the innovations and product launches in the electric three-wheeler category. In addition, many new startups and joint ventures in the region are introducing and developing products in response to consumer demand. Companies in the region, including those in India, China, Japan, and others, are introducing new vehicles, and in the upcoming years, many new launches are anticipated. For example, Piaggio recently introduced an electric three-wheeler in India, and in China, a solar electric three-wheeler was unveiled. All these developments in the region are expected to increase demand for electric three-wheelers in the region.

Long-term automotive market trends are expected to include electrification and green technologies. Many countries in the Asia-Pacific region are also providing subsidies for electric vehicles, and the rise in demand for such vehicles is also due to their lower maintenance and operating costs. To improve commuter efficiency and lower air pollution, the use of electric three-wheelers has advanced significantly in the area. The market for electric three-wheelers in the Asia-Pacific is growing due to the adoption of green vehicles and the implementation of emission standard upgrades.

The demand for last-mile and short-distance travel solutions is another element propelling market expansion. Customers daily routines tend to be more fixed, particularly for most people who commute to and from work every day prefer public transport such as electric three-wheelers. The primary concerns are safety, comfort, and cost-effectiveness, and electric vehicles are best for them. The market for electric three-wheelers is expanding as the demand for public commuting for last mile stop is increasing. The market for electric three-wheelers is expanding because of higher technology advancements in battery charging, battery swapping and other infrastructure expansions in the region.

Adoption of Electric Three-Wheelers in Public First and Last Mile Commute

The usage of electric three-wheelers for public commuting is increasing in both the first and last mile commute as such vehicles are not very expensive as compared with the ICE vehicle. At the same time such vehicles require low maintenance and operational cost, and the usage of lead acid battery in the electric three wheelers is also reducing the price of the vehicle. The increase in innovation and new product development in the region is also increasing effectiveness, similarly many new startups and other established players are inhouse manufacturing vehicles to meet the price competitiveness in the market. China and India are the leading countries in the region that have higher penetration of the electric three-wheelers for public commute. During the forecast period, the first and last mile public commute via electric three wheelers is expected to rise with the increase in the long-distance travel sources such as metro, and all these factors will contribute to the rise in demand of the electric three wheelers in Asia-Pacific.

Government Incentives and Subsidies

Many counties in the area are encouraging the use of electric vehicles by providing incentives to new electric vehicle owners and manufacturers. Furthermore, many regional governments in the area are providing benefits and other subsidies to developing infrastructure and charging service providers in order to increase electric vehicle adoption. Various governments in the region are establishing charging infrastructure for three-wheelers. Government subsidies are encouraging the use of electric vehicles in the region, and adoption of electric vehicles is expected to increase in the coming years.

Inadequate Charging Infrastructure

Battery swapping eliminates charging time and is highly preferred for three-wheelers used for public commute, but its widespread adoption is hampered by a lack of infrastructure and battery standards in the area. Slow infrastructure development in rural areas could be a contributing factor to the slow growth. Similarly, the countries' lack of defined charging standards, as well as the use of universal batteries for all vehicles, pose growth challenges. Electric vehicle charging infrastructure is being built in countries such as India, China, Japan, and others.

The COVID-19 had a negative impact on the sector as well, as it hampered all manufacturing and operational activities. All charging station setup operations were halted because of lockdowns and other restrictions were also imposed by various regional governments. However, in most Asian countries, optimism has remained or even increased. While many consumers around the world expect their income to decline, some consumers in China and India expect their income to rise. Moreover, charging infrastructure will expand during the forecast period, assisting the region's electric three-wheeler market to grow.


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Market Segmentation

The Asia-Pacific Electric Three-Wheeler Market is segmented on the basis of vehicle type, battery capacity, battery type, and country. Based on vehicle type, the market is bifurcated into passenger carrier and load carrier. On the basis of battery capacity, the market is further segmented into <101Ah & >101Ah. Based on battery type, the market is segmented into lead acid & Li-ion. The market analysis also studies the Country wise segmentation to devise market trend in the forecast years.

Company Profiles

Xianghe Qiansheng Electric Tricycle Factory, Euler Motors Private Limited, Omega Seiki Mobility Private Limited, Mahindra & Mahindra Limited (India), Saera Electric Auto Pvt. Ltd, Changzhou Yufeng Vehicle Co. Ltd, Gayam Motor Works, Piaggio Group, Lohia Auto Industries, and Atul Auto Ltd. are the leading companies in the Asia Pacific developing electric three wheelers. There are several other start-ups that are developing efficient electric three wheelers in the region.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion, Volume in Thousand Units, and CAGR for 2018-2022 and 2023-2030

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

By Vehicle Type

By Battery Capacity

By Battery Type

By Country

Country Scope

China, India, Japan, Malaysia, Indonesia, Thailand, Vietnam, Singapore

Key Companies Profiled

Xianghe Qiansheng Electric Tricycle Factory, Euler Motors Private Limited, Omega Seiki Mobility Private Limited, Mahindra & Mahindra Limited (India), Saera Electric Auto Pvt. Ltd, Changzhou Yufeng Vehicle Co. Ltd, Gayam Motor Works, Piaggio Group, Lohia Auto Industries, Atul Auto Ltd.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Asia-Pacific Electric Three-Wheeler Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Asia-Pacific Electric Three-Wheeler Market, By Vehicle Type:

    • Passenger Carrier
    • Load Carrier
  • Asia-Pacific Electric Three-Wheeler Market, By Battery Capacity:
    • <25Ah
    • >25Ah

·         Asia-Pacific Electric Three-Wheeler Market, By Battery Type:

    • Lead Acid
    • Li-ion
  • Asia-Pacific Electric Three-Wheeler Market, By Country:
    • China
    • India
    • Japan
    • Malaysia
    • Indonesia
    • Thailand
    • Vietnam
    • Singapore

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Asia-Pacific Electric Three-Wheeler Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Asia-Pacific Electric Three-Wheeler Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Asia-Pacific Electric Three-Wheeler Market

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Aided and Unaided Brand Recall

5.3.  Brand Satisfaction Level

6.    Asia-Pacific Electric Three-Wheeler Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Volume

6.1.2.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Passenger Carrier & Load Carrier)

6.2.2.     By Battery Capacity (<101Ah & >101Ah)

6.2.3.     By Battery Type (Lead Acid & Li-ion)

6.2.4.     By Country

6.3.  Asia Pacific Electric Three-Wheeler Market Mapping & Opportunity

6.3.1.     Market Mapping & Opportunity by Vehicle Type

6.3.2.     Market Mapping & Opportunity by Country

6.3.2.1.1.             By Country

6.3.3.     China Electric Three-Wheeler Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Volume

6.3.3.1.2.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Vehicle Type (Passenger Carrier & Load Carrier)

6.3.3.2.2.             By Battery Capacity (<101Ah & >101Ah)

6.3.3.2.3.             By Battery Type (Lead Acid & Li-ion)

6.3.3.2.4.             By Country

6.3.4.      India Electric Three -Wheeler Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Volume

6.3.4.1.2.             By Value

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Vehicle Type (Passenger Carrier & Load Carrier)

6.3.4.2.2.             By Battery Capacity (<101Ah & >101Ah)

6.3.4.2.3.             By Battery Type (Lead Acid & Li-ion)

6.3.5.     Japan Electric Three-Wheeler Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Volume

6.3.5.1.2.             By Value

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Vehicle Type (Passenger Carrier & Load Carrier)

6.3.5.2.2.             By Battery Capacity (<101Ah & >101Ah)

6.3.5.2.3.             By Battery Type (Lead Acid & Li-ion)

6.3.6.     Malaysia Electric Three-Wheeler Market Outlook

6.3.6.1.         Market Size & Forecast

6.3.6.1.1.             By Volume

6.3.6.1.2.             By Value

6.3.6.2.         Market Share & Forecast

6.3.6.2.1.             By Vehicle Type (Passenger Carrier & Load Carrier)

6.3.6.2.2.             By Battery Capacity (<101Ah & >101Ah)

6.3.6.2.3.             By Battery Type (Lead Acid & Li-ion)

6.3.7.     Thailand Electric Three-Wheeler Market Outlook

6.3.7.1.         Market Size & Forecast

6.3.7.1.1.             By Volume

6.3.7.1.2.             By Value

6.3.7.2.         Market Share & Forecast

6.3.7.2.1.             By Vehicle Type (Passenger Carrier & Load Carrier)

6.3.7.2.2.             By Battery Capacity (<101Ah & >101Ah)

6.3.7.2.3.             By Battery Type (Lead Acid & Li-ion)

6.3.8.     Indonesia Electric Three-Wheeler Market Outlook

6.3.8.1.         Market Size & Forecast

6.3.8.1.1.             By Volume

6.3.8.1.2.             By Value

6.3.8.2.         Market Share & Forecast

6.3.8.2.1.             By Vehicle Type (Passenger Carrier & Load Carrier)

6.3.8.2.2.             By Battery Capacity (<101Ah & >101Ah)

6.3.8.2.3.             By Battery Type (Lead Acid & Li-ion)

6.3.9.     Singapore Electric Three-Wheeler Market Outlook

6.3.9.1.         Market Size & Forecast

6.3.9.1.1.             By Volume

6.3.9.1.2.             By Value

6.3.9.2.         Market Share & Forecast

6.3.9.2.1.             By Vehicle Type (Passenger Carrier & Load Carrier)

6.3.9.2.2.             By Battery Capacity (<101Ah & >101Ah)

6.3.9.2.3.             By Battery Type (Lead Acid & Li-ion)

6.3.10.  Vietnam Electric Three-Wheeler Market Outlook

6.3.10.1.      Market Size & Forecast

6.3.10.1.1.           By Volume

6.3.10.1.2.           By Value

6.3.10.2.      Market Share & Forecast

6.3.10.2.1.           By Vehicle Type (Passenger Carrier & Load Carrier)

6.3.10.2.2.           By Battery Capacity (<101Ah & >101Ah)

6.3.10.2.3.           By Battery Type (Lead Acid & Li-ion)

7.    Overall Developments in the Industry

7.1.  EV Developments

7.2.  Incentives and Subsidies

7.3.  Battery, charger, and other Standards

7.4.  New Players in the Market

7.5.  Key Investments in the Market

7.6.  Technological Developments

7.7.  Key Takeaways

8.    Market Dynamics

8.1.  Drivers

8.1.1.     Adoption of Electric Three Wheelers in Public First and Last Mile Commute

8.1.2.     Government Incentives and Subsidies.

8.2.  Challenges

8.2.1.     Inadequate Charging Infrastructure

9.    Market Trends

9.1.  Rising Emission Standards

9.2.  Surge in R&D and Technological Advancements

10.  Porter’s Five Forces Model

10.1.              Competition Landscape

10.2.              Buyer Power

10.3.              Supplier Power

10.4.              Threat of New Entrants

10.5.              Threat of Substitutes

11.  Competitive Landscape

11.1.              Xianghe Qiansheng Electric Tricycle Factory.

11.1.1.  Company Details

11.1.2.  Products & Services

11.1.3.  Financial (As Reported)

11.1.4.  Key Market Focus & Geographical Presence

11.1.5.  Recent Development

11.1.6.  Key Management Personnel

11.2.              Euler Motors Private Limited

11.2.1.  Company Details

11.2.2.  Products & Services

11.2.3.  Financial (As Reported)

11.2.4.  Key Market Focus & Geographical Presence

11.2.5.  Recent Development

11.2.6.  Key Management Personnel

11.3.              Omega Seiki Mobility Private Limited

11.3.1.  Company Details

11.3.2.  Products & Services

11.3.3.  Financial (As Reported)

11.3.4.  Key Market Focus & Geographical Presence

11.3.5.  Recent Development

11.3.6.  Key Management Personnel

11.4.              Mahindra & Mahindra Limited (India).

11.4.1.  Company Details

11.4.2.  Products & Services

11.4.3.  Financial (As Reported)

11.4.4.  Key Market Focus & Geographical Presence

11.4.5.  Recent Development

11.4.6.  Key Management Personnel

11.5.              Saera Electric Auto Pvt. Ltd.

11.5.1.  Company Details

11.5.2.  Products & Services

11.5.3.  Financial (As Reported)

11.5.4.  Key Market Focus & Geographical Presence

11.5.5.  Recent Development

11.5.6.  Key Management Personnel

11.6.              Changzhou Yufeng Vehicle Co. Ltd.

11.6.1.  Company Details

11.6.2.  Products & Services

11.6.3.  Financial (As Reported)

11.6.4.  Key Market Focus & Geographical Presence

11.6.5.  Recent Development

11.6.6.  Key Management Personnel

11.7.              Gayam Motor Works

11.7.1.  Company Details

11.7.2.  Products & Services

11.7.3.  Financial (As Reported)

11.7.4.  Key Market Focus & Geographical Presence

11.7.5.  Recent Development

11.7.6.  Key Management Personnel

11.8.              Piaggio Group

11.8.1.  Company Details

11.8.2.  Products & Services

11.8.3.  Financial (As Reported)

11.8.4.  Key Market Focus & Geographical Presence

11.8.5.  Recent Development

11.8.6.  Key Management Personnel

11.9.              Lohia Auto Industries

11.9.1.  Company Details

11.9.2.  Products & Services

11.9.3.  Financial (As Reported)

11.9.4.  Key Market Focus & Geographical Presence

11.9.5.  Recent Development

11.9.6.  Key Management Personnel

11.10.            Atul Auto Ltd.

11.10.1.                Company Details

11.10.2.                Products & Services

11.10.3.                Financial (As Reported)

11.10.4.                Key Market Focus & Geographical Presence

11.10.5.                Recent Development

11.10.6.                Key Management Personnel

12.  Strategic Recommendations

12.1.              Key Focus Areas

12.2.              Target Regions & Countries

12.3.              Target Type

12.4.              Target Category

13. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The increasing emission standards in the area, additional government customer subsidies, and less operational costs of such vehicles is expected to drive the Asia-Pacific Electric Three-Wheeler Market during the forecast period.

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Asia-Pacific Electric Three-Wheeler Market by Vehicle type is segmented into Passenger Carrier & Load Carrier. The passenger Carrier holds the major market share in this category.

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The major players contributing to Asia-Pacific Electric Three-Wheeler Market are Xianghe Qiansheng Electric Tricycle Factory, Euler Motors Private Limited, Omega Seiki Mobility Private Limited, Mahindra & Mahindra Limited (India), and Saera Electric Auto Pvt. Ltd.

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Passenger carrier category is leading in the vehicle type segment as most of the companies in the region has high sales figures for this category in the Asia-Pacific Electric Three-Wheeler Market.

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Srishti Verma

Business Consultant
Press Release

Asia Pacific Electric Three-Wheeler Market to be Led by Passenger Carrier through 2028

Sep, 2023

Government support and incentives for electric mobility, and the rising demand for sustainable and cost-effective urban transportation solutions are leading the Asia Pacific electric three-wheeler ma