Electric Tuk-tuks Market By Power Type (Up to 1000W, 1000W to 1500W, Above 1500W), By Battery Type (Lithium-ion, Lead Acid), By Range (Upto 50KM, More Than 50KM), By Price Range (Low to Mid, High): Global Opportunity Analysis and Industry Forecast, 2021-2031
The report incorporates the study of the global electric tuk-tuks market that focuses on the type of electric vehicles propelled by battery and electric motor. It is a three-wheel battery-operated vehicle, considered an upgrade to conventional cycle or pedal rickshaws, vastly popular in Asian countries, some South African regions, and parts of Europe. It consists of an electric battery-powered drive train and requires no conventional fuel. However, electric tuk-tuks are used in cities & towns for short distances as they are less suited for long-distance traveling.
The demand for electric tuk-tuks has significantly increased over the past few years owing to their low running costs, continuously growing global carbon emissions by combustion of fuel, and a significant increase in fuel prices. For instance, the Environmental Protection Agency (EPA) finalized federal greenhouse gas (GHG) emissions standards for vehicles in the U.S. through 2026. The final standards leverage advances in clean car technology to unlock $190 billion in net benefits to Americans, including reducing climate pollution, improving public health, and saving drivers money at the pump.
The factors such as growth in the trend of shared mobility, inclination toward the use of electric tuk-tuks as an eco-friendly & efficient solution for commute, and stringent vehicular emission norms & regulations supplement the growth of the electric tuk-tuks market. However, the lack of standardization of EV charging and the high cost of battery are the factors expected to hamper the growth of the electric tuk-tuks market. In addition, greater availability of credit and financing options and rising fuel prices and new product launches create market opportunities for the key players operating in the electric tuk-tuks market.
For the purpose of analysis, the global electric tuk-tuks market is segmented on the basis of power type, battery type, range, price range, and region. By power type, the market is divided into up to 1000W, 1000W to 1500W, and above 1500W. By battery type, it is fragmented into lithium-ion and lead acid. By range, it is categorized into upto 50KM and more than 50KM. By price range, it is further classified into low to mid and high. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the electric tuk-tuks market are Arna Electric Auto Private Limited, Bajaj Auto Ltd., E-Tuk Factory, Goenka Electric Motor Vehicles Pvt. Ltd., Green Valley Motors, Hero Electric, Jezza Motors, Kinetic Green Vehicles, KUKU Automotives, Mahindra Electric Mobility Limited, SAERA ELECTRIC AUTO PVT. LTD., SN Solar Energy, Speego Vehicles Co Pvt Limited, SUPERECO, Udaan E Rickshaw, QSD, and Zuperia Auto Pvt. Ltd.
Key Benefits For Stakeholders
This study presents an analytical depiction of the global electric tuk-tuks market analysis along with current trends and future estimations to depict imminent investment pockets.
The overall electric tuk-tuks market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global electric tuk-tuks market with detailed impact analysis.
The current electric tuk-tuks market is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Power Type
Up to 1000W
1000W to 1500W
Above 1500W
By Battery Type
Lithium-ion
Lead Acid
By Range
Upto 50KM
More Than 50KM
By Price Range
Low to Mid
High
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest Of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Adapt Motors
AG International Pvt. Ltd.
Arna Electric Auto Private Limited
BABA E-Rickshaw
E-TUK Factory
Gayatri Electric Vehicles
Goenka Electric Motor Vehicles Private Limited
Hongsengmeng Group Co., Ltd.
J.S. Auto Pvt. Ltd.
Kinetic Green Vehicles
Mahindra Electric Mobility Limited
Mini Metro EV LLP
Singham (U.P. Telelinks Limited)
SN Solar Energy
Terra Motors India
Victory Electric Vehicles International Limited
Zuperia Auto Pvt. Ltd.
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