Global electric three-wheeler market is anticipated to grow at CAGR of 6.50% in value terms during the forecast period to reach USD2,323.50 million by 2027. Anticipated growth in the global electric three-wheeler market can be attributed to growing fuel prices and growing government initiatives to escalate the acceptance of environment friendly automobiles including three-wheelers. Increasing urbanization, rapidly expanding charging infrastructure network are also among the other factors that are expected to positively influence the growth of the global electric three-wheeler market in the upcoming five years.

Countries across the globe have acknowledged the necessity to go electric, to curb the rising pollution levels generated from automobiles including three-wheelers. Many countries like China, India, Bangladesh etc. have already ramped up the activities to improve the market penetration of electric three-wheelers. The electric three-wheeler does not have an internal combustion engine like most three-wheelers have, instead, the electric three-wheelers are powered by a rechargeable battery. Growth factors such as travel convenience, low total cost of ownership, affordable mass commuting, high efficiency, among others have also increased the adoption of electric three-wheelers across various regions over last five years.

The coronavirus pandemic had a negative impact on the sales of electric three-wheelers across regions around the globe. In 2020, electric three-wheeler sales declined in comparison to previous year as major electric three-wheeler producing countries around the world such as China, India etc. underwent strict lockdown in the second and third quarter of 2020 as a measure to control the spreading corona virus. The COVID-19 pandemic adversely affected the production, sales and supply chain network of the electric three-wheelers. Nevertheless, the electric three-wheeler market is anticipated to recover due to increasing number of government initiatives to increase the adoption of electric three-wheelers.

Low Total Cost of Ownership Drives the Market Growth

Cost of ownership of a traditional three-wheeler is relatively on a higher side as compared to a battery powered three-wheeler, as electric three-wheeler runs on stored charge which gives lower running cost per km. Low total cost of ownership of electric three-wheelers is observed as one of the significant selling points for electric three-wheelers globally. Although, the cost of the electric three-wheeler can itself be the same, and sometimes even costlier than their diesel/petrol powered three-wheeler, the total cost of ownership comes out to be significantly less. For alike distance travelled, the cost associated with charging an electric three-wheeler is comparatively lesser than the cost of burning petrol or diesel, as a result total cost of ownership of the electric three-wheeler decreases dramatically for longer span of time. However, total savings depends on the particular model of electric three-wheeler an individual buys, and which diesel/petrol powered counterpart one is comparing with. However, in significant number of cases, the lifetime charging cost of an electric three-wheeler comes out to be far lower than the traditional diesel/petrol powered three-wheeler.

Easier Maintenance of Electric Three-Wheelers Drives the Market Growth

The cost to maintain an electric three-wheeler is commonly on much lower side as electric three-wheelers is free from the complexity associated with a petrol/diesel powered internal combustion engine. Coming to the maintenance of an electric three-wheeler, the owner does not have to be worried about all the fluids and moving parts like one has to with a petrol/diesel powered internal combustion engine of a traditional three wheeler. Moreover, the power control unit of an electric three-wheeler propels the three-wheeler of stored energy coming off from the battery stored onboard and is electrically charged, consequently the electric three-wheeler lacks in terms of the number of components on-board which are in motion, which results in lesser wear and tear and hence low maintenance.


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Market Segmentation

The global electric three-wheeler market is segmented based on vehicle type, battery capacity, battery type, region, and competitional landscape. Based on vehicle type, the market is further bifurcated into passenger carrier and load carrier. Also, segmentation of the market on grounds of battery capacity is done into <101Ah, >101Ah. Based on battery type, the market is segmented into lithium ion, lead acid.

Company Profiles

Jiangsu Jinpeng Group Co., Ltd., Mahindra & Mahindra Ltd., Piaggio Group, Atul Auto Ltd., Changzhou Yufeng Vehicle Co., Ltd., Lohia Auto Industries, Kinetic Green Energy & Power Solutions Ltd., Skyride Automotive, Shado Group International Pte. Ltd, Beevatech Limited, etc. are among the major market players in the global electric three-wheeler market.

Attribute

Details

Market Size Value in 2021

USD1,598.60 Million

Revenue Forecast in 2027

USD2,323.50 Million

Growth Rate

6.50%

Base Year

2021

Historical Years

2017 – 2021

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million and CAGR for 2017-2021 and 2022-2027

Report Coverage

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

Segments Covered

·         Vehicle Type

·         Battery Capacity

·         Battery Type

·         Region

·         Company

Regional Scope

Asia Pacific, Africa, Middle East, South America, Rest of World

Country Scope

China, India, Bangladesh, Nepal, Pakistan, Sri Lanka, Indonesia, Thailand, Brunei, Philippines, Singapore, Vietnam, Malaysia, Myanmar, Laos, Cambodia, Egypt, South Africa, Morocco, Nigeria, Tanzania, Kenya, Algeria, Ethiopia, Angola, Uganda, Libya, Sudan, Turkey, Saudi Arabia, Israel, UAE, Oman, Iraq, Iran, Peru, Colombia, Chile

Key Companies Profiled

Jiangsu Jinpeng Group Co., Ltd., Mahindra & Mahindra Ltd., Piaggio Group, Atul Auto Ltd., Changzhou Yufeng Vehicle Co., Ltd., Lohia Auto Industries, Kinetic Green Energy & Power Solutions Ltd., Skyride Automotive, Shado Group International Pte. Ltd, Beevatech Limited

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, global electric three-wheeler market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Electric Three-Wheeler Market, Vehicle Type:
    • Passenger Carrier
    • Load Carrier
  • Electric Three-Wheeler Market, By Battery Capacity:
    • >101 Ah
    • <101 Ah
  • Electric Three-Wheeler Market, By Battery Type:
    • Lead Acid
    • Lithium Ion
  • Electric Three-Wheeler Market, By Region:
    • Asia-Pacific
    • Africa
      • Morocco
      • Egypt
      • South Africa
      • Nigeria
      • Algeria
      • Kenya
      • Uganda
      • Tanzania
      • Ethiopia
      • Sudan
      • Angola
      • Libya
    • Middle East
      • Turkey
      • Iran
      • Israel
      • Saudi Arabia
      • UAE
      • Oman
      • Iraq
    • South America
      • Peru
      • Colombia
      • Chile

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global 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).

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

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

5.    Voice of Customers

5.1.  Brand Recall (Unaided and Aided)

5.2.  Factors Influencing Purchase Decision

5.3.  Brand Satisfaction Level

6.    Global Electric Three-Wheeler Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value & Volume

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 (Lithium Ion, Lead Acid)

6.2.4.    By Region

6.2.5.    By Company (2021)

6.3.  Market Map (By Vehicle Type, By Region)

7.    Asia-Pacific Electric Three-Wheeler Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Vehicle Type

7.2.2.    By Battery Capacity

7.2.3.    By Battery Type

7.2.4.    By Country

7.3.  Market Map (By Vehicle Type)

7.4.   Asia-Pacific: Country Analysis

7.4.1.    China Electric Three-Wheeler Market Outlook

7.4.1.1.        Market Size & Forecast

7.4.1.1.1.            By Value & Volume

7.4.1.2.        Market Share & Forecast

7.4.1.2.1.            By Vehicle Type

7.4.1.2.2.            By Battery Capacity

7.4.1.2.3.            By Battery Type

7.4.2.    India Electric Three-Wheeler Market Outlook

7.4.2.1.        Market Size & Forecast

7.4.2.1.1.            By Value & Volume

7.4.2.2.        Market Share & Forecast

7.4.2.2.1.            By Vehicle Type

7.4.2.2.2.            By Battery Capacity

7.4.2.2.3.            By Battery Type

7.4.3.    Pakistan Electric Three-Wheeler Market Outlook

7.4.3.1.        Market Size & Forecast

7.4.3.1.1.            By Value & Volume

7.4.3.2.        Market Share & Forecast

7.4.3.2.1.            By Vehicle Type

7.4.3.2.2.            By Battery Capacity

7.4.3.2.3.            By Battery Type

7.4.4.    Bangladesh Electric Three-Wheeler Market Outlook

7.4.4.1.        Market Size & Forecast

7.4.4.1.1.            By Value & Volume

7.4.4.2.        Market Share & Forecast

7.4.4.2.1.            By Vehicle Type

7.4.4.2.2.            By Battery Capacity

7.4.4.2.3.            By Battery Type

7.4.5.    Indonesia Electric Three-Wheeler Market Outlook

7.4.5.1.        Market Size & Forecast

7.4.5.1.1.            By Value & Volume

7.4.5.2.        Market Share & Forecast

7.4.5.2.1.            By Vehicle Type

7.4.5.2.2.            By Battery Capacity

7.4.5.2.3.            By Battery Type

7.4.6.    Nepal Electric Three-Wheeler Market Outlook

7.4.6.1.        Market Size & Forecast

7.4.6.1.1.            By Value & Volume

7.4.6.2.        Market Share & Forecast

7.4.6.2.1.            By Vehicle Type

7.4.6.2.2.            By Battery Capacity

7.4.6.2.3.            By Battery Type

7.4.7.    Philippines Electric Three-Wheeler Market Outlook

7.4.7.1.        Market Size & Forecast

7.4.7.1.1.            By Value & Volume

7.4.7.2.        Market Share & Forecast

7.4.7.2.1.            By Vehicle Type

7.4.7.2.2.            By Battery Capacity

7.4.7.2.3.            By Battery Type

7.4.8.    Malaysia Electric Three-Wheeler Market Outlook

7.4.8.1.        Market Size & Forecast

7.4.8.1.1.            By Value & Volume

7.4.8.2.        Market Share & Forecast

7.4.8.2.1.            By Vehicle Type

7.4.8.2.2.            By Battery Capacity

7.4.8.2.3.            By Battery Type

7.4.9.    Thailand Electric Three-Wheeler Market Outlook

7.4.9.1.        Market Size & Forecast

7.4.9.1.1.            By Value & Volume

7.4.9.2.        Market Share & Forecast

7.4.9.2.1.            By Vehicle Type

7.4.9.2.2.            By Battery Capacity

7.4.9.2.3.            By Battery Type

7.4.10. Vietnam Electric Three-Wheeler Market Outlook

7.4.10.1.     Market Size & Forecast

7.4.10.1.1.         By Value & Volume

7.4.10.2.     Market Share & Forecast

7.4.10.2.1.         By Vehicle Type

7.4.10.2.2.         By Battery Capacity

7.4.10.2.3.         By Battery Type

7.4.11. Sri Lanka Electric Three-Wheeler Market Outlook

7.4.11.1.     Market Size & Forecast

7.4.11.1.1.         By Value & Volume

7.4.11.2.     Market Share & Forecast

7.4.11.2.1.         By Vehicle Type

7.4.11.2.2.         By Battery Capacity

7.4.11.2.3.         By Battery Type

7.4.12. Myanmar Electric Three-Wheeler Market Outlook

7.4.12.1.     Market Size & Forecast

7.4.12.1.1.         By Value & Volume

7.4.12.2.     Market Share & Forecast

7.4.12.2.1.         By Vehicle Type

7.4.12.2.2.         By Battery Capacity

7.4.12.2.3.         By Battery Type

7.4.13. Cambodia Electric Three-Wheeler Market Outlook

7.4.13.1.     Market Size & Forecast

7.4.13.1.1.         By Value & Volume

7.4.13.2.     Market Share & Forecast

7.4.13.2.1.         By Vehicle Type

7.4.13.2.2.         By Battery Capacity

7.4.13.2.3.         By Battery Type

7.4.14. Singapore Electric Three-Wheeler Market Outlook

7.4.14.1.     Market Size & Forecast

7.4.14.1.1.         By Value & Volume

7.4.14.2.     Market Share & Forecast

7.4.14.2.1.         By Vehicle Type

7.4.14.2.2.         By Battery Capacity

7.4.14.2.3.         By Battery Type

7.4.15. Laos Electric Three-Wheeler Market Outlook

7.4.15.1.     Market Size & Forecast

7.4.15.1.1.         By Value & Volume

7.4.15.2.     Market Share & Forecast

7.4.15.2.1.         By Vehicle Type

7.4.15.2.2.         By Battery Capacity

7.4.15.2.3.         By Battery Type

7.4.16. Brunei Electric Three-Wheeler Market Outlook

7.4.16.1.     Market Size & Forecast

7.4.16.1.1.         By Value & Volume

7.4.16.2.     Market Share & Forecast

7.4.16.2.1.         By Vehicle Type

7.4.16.2.2.         By Battery Capacity

7.4.16.2.3.         By Battery Type

8.    Africa Electric Three-Wheeler Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Vehicle Type

8.2.2.    By Battery Capacity

8.2.3.    By Battery Type

8.2.4.    By Country

8.3.  Market Map (By Vehicle Type)

8.4.  Africa: Country Analysis

8.4.1.    Morocco Electric Three-Wheeler Market Outlook

8.4.1.1.        Market Size & Forecast

8.4.1.1.1.            By Value & Volume

8.4.1.2.        Market Share & Forecast

8.4.1.2.1.            By Vehicle Type

8.4.1.2.2.            By Battery Capacity

8.4.1.2.3.            By Battery Type

8.4.2.    Egypt Three-Wheeler Market Outlook

8.4.2.1.        Market Size & Forecast

8.4.2.1.1.            By Value & Volume

8.4.2.2.        Market Share & Forecast

8.4.2.2.1.            By Vehicle Type

8.4.2.2.2.            By Battery Capacity

8.4.2.2.3.            By Battery Type

8.4.3.    South Africa Electric Three-Wheeler Market Outlook

8.4.3.1.        Market Size & Forecast

8.4.3.1.1.            By Value & Volume

8.4.3.2.        Market Share & Forecast

8.4.3.2.1.            By Vehicle Type

8.4.3.2.2.            By Battery Capacity

8.4.3.2.3.            By Battery Type

8.4.4.    Nigeria Electric Three-Wheeler Market Outlook

8.4.4.1.        Market Size & Forecast

8.4.4.1.1.            By Value & Volume

8.4.4.2.        Market Share & Forecast

8.4.4.2.1.            By Vehicle Type

8.4.4.2.2.            By Battery Capacity

8.4.4.2.3.            By Battery Type

8.4.5.    Algeria Electric Three-Wheeler Market Outlook

8.4.5.1.        Market Size & Forecast

8.4.5.1.1.            By Value & Volume

8.4.5.2.        Market Share & Forecast

8.4.5.2.1.            By Vehicle Type

8.4.5.2.2.            By Battery Capacity

8.4.5.2.3.            By Battery Type

8.4.6.    Kenya Electric Three-Wheeler Market Outlook

8.4.6.1.        Market Size & Forecast

8.4.6.1.1.            By Value & Volume

8.4.6.2.        Market Share & Forecast

8.4.6.2.1.            By Vehicle Type

8.4.6.2.2.            By Battery Capacity

8.4.6.2.3.            By Battery Type

8.4.7.    Uganda Electric Three-Wheeler Market Outlook

8.4.7.1.        Market Size & Forecast

8.4.7.1.1.            By Value & Volume

8.4.7.2.        Market Share & Forecast

8.4.7.2.1.            By Vehicle Type

8.4.7.2.2.            By Battery Capacity

8.4.7.2.3.            By Battery Type

8.4.8.    Tanzania Electric Three-Wheeler Market Outlook

8.4.8.1.        Market Size & Forecast

8.4.8.1.1.            By Value & Volume

8.4.8.2.        Market Share & Forecast

8.4.8.2.1.            By Vehicle Type

8.4.8.2.2.            By Battery Capacity

8.4.8.2.3.            By Battery Type

8.4.9.    Ethiopia Electric Three-Wheeler Market Outlook

8.4.9.1.        Market Size & Forecast

8.4.9.1.1.            By Value & Volume

8.4.9.2.        Market Share & Forecast

8.4.9.2.1.            By Vehicle Type

8.4.9.2.2.            By Battery Capacity

8.4.9.2.3.            By Battery Type

8.4.10. Sudan Electric Three-Wheeler Market Outlook

8.4.10.1.     Market Size & Forecast

8.4.10.1.1.         By Value & Volume

8.4.10.2.     Market Share & Forecast

8.4.10.2.1.         By Vehicle Type

8.4.10.2.2.         By Battery Capacity

8.4.10.2.3.         By Battery Type

8.4.11. Angola Electric Three-Wheeler Market Outlook

8.4.11.1.     Market Size & Forecast

8.4.11.1.1.         By Value & Volume

8.4.11.2.     Market Share & Forecast

8.4.11.2.1.         By Vehicle Type

8.4.11.2.2.         By Battery Capacity

8.4.11.2.3.         By Battery Type

8.4.12. Libya Electric Three-Wheeler Market Outlook

8.4.12.1.     Market Size & Forecast

8.4.12.1.1.         By Value & Volume

8.4.12.2.     Market Share & Forecast

8.4.12.2.1.         By Vehicle Type

8.4.12.2.2.         By Battery Capacity

8.4.12.2.3.         By Battery Type

9.    Middle East Electric Three-Wheeler Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Vehicle Type

9.2.2.    By Battery Capacity

9.2.3.    By Battery Type

9.2.4.    By Country

9.3.  Market Map (By Vehicle Type)

9.4.  Middle East: Country Analysis

9.4.1.    Turkey Electric Three-Wheeler Market Outlook

9.4.1.1.        Market Size & Forecast

9.4.1.1.1.            By Value & Volume

9.4.1.2.        Market Share & Forecast

9.4.1.2.1.            By Vehicle Type

9.4.1.2.2.            By Battery Capacity

9.4.1.2.3.            By Battery Type

9.4.2.    Iran Three-Wheeler Market Outlook

9.4.2.1.        Market Size & Forecast

9.4.2.1.1.            By Value & Volume

9.4.2.2.        Market Share & Forecast

9.4.2.2.1.            By Vehicle Type

9.4.2.2.2.            By Battery Capacity

9.4.2.2.3.            By Battery Type

9.4.3.    Israel Electric Three-Wheeler Market Outlook

9.4.3.1.        Market Size & Forecast

9.4.3.1.1.            By Value & Volume

9.4.3.2.        Market Share & Forecast

9.4.3.2.1.            By Vehicle Type

9.4.3.2.2.            By Battery Capacity

9.4.3.2.3.            By Battery Type

9.4.4.    Saudi Arabia Electric Three-Wheeler Market Outlook

9.4.4.1.        Market Size & Forecast

9.4.4.1.1.            By Value & Volume

9.4.4.2.        Market Share & Forecast

9.4.4.2.1.            By Vehicle Type

9.4.4.2.2.            By Battery Capacity

9.4.4.2.3.            By Battery Type

9.4.5.    UAE Electric Three-Wheeler Market Outlook

9.4.5.1.        Market Size & Forecast

9.4.5.1.1.            By Value & Volume

9.4.5.2.        Market Share & Forecast

9.4.5.2.1.            By Vehicle Type

9.4.5.2.2.            By Battery Capacity

9.4.5.2.3.            By Battery Type

9.4.6.    Oman Electric Three-Wheeler Market Outlook

9.4.6.1.        Market Size & Forecast

9.4.6.1.1.            By Value & Volume

9.4.6.2.        Market Share & Forecast

9.4.6.2.1.            By Vehicle Type

9.4.6.2.2.            By Battery Capacity

9.4.6.2.3.            By Battery Type

9.4.7.    Iraq Electric Three-Wheeler Market Outlook

9.4.7.1.        Market Size & Forecast

9.4.7.1.1.            By Value & Volume

9.4.7.2.        Market Share & Forecast

9.4.7.2.1.            By Vehicle Type

9.4.7.2.2.            By Battery Capacity

9.4.7.2.3.            By Battery Type

10.  South America Electric Three-Wheeler Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value & Volume

10.2.             Market Share & Forecast

10.2.1. By Vehicle Type

10.2.2. By Battery Capacity

10.2.3. By Battery Type

10.2.4. By Country

10.3.             Market Map (By Vehicle Type)

10.4.             South America: Country Analysis

10.4.1. Peru Electric Three-Wheeler Market Outlook

10.4.1.1.     Market Size & Forecast

10.4.1.1.1.         By Value & Volume

10.4.1.2.     Market Share & Forecast

10.4.1.2.1.         By Vehicle Type

10.4.1.2.2.         By Battery Capacity

10.4.1.2.3.         By Battery Type

10.4.2. Colombia Three-Wheeler Market Outlook

10.4.2.1.     Market Size & Forecast

10.4.2.1.1.         By Value & Volume

10.4.2.2.     Market Share & Forecast

10.4.2.2.1.         By Vehicle Type

10.4.2.2.2.         By Battery Capacity

10.4.2.2.3.         By Battery Type

10.4.3. Chile Electric Three-Wheeler Market Outlook

10.4.3.1.