Electric Three Wheeler Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	150 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19260691

Best Price Guarantee
Price	from $4,850
Length	150 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19260691

Electric Three Wheeler Market

Growth Factors of Electric Three Wheeler Market

The global electric three wheeler market size was valued at USD 2.71 billion in 2023 and is projected to grow from USD 3.41 billion in 2024 to USD 12.81 billion by 2032, exhibiting a CAGR of 18.0% during the forecast period of 2024-2032.

The global automobile PCB market is due to increased electric motors, the advent of automobile safety systems and the increasing use of sophisticated electronics such as ADAS, Infotainment on automobiles, driving the automobile PCB market growth.

The developing call for eco-friendly transportation, government incentives for electric cars, rising gas costs, and improved urbanization are critical elements for the electric three-wheeler market. The lower operational expenses and growing awareness of lowering carbon emissions contribute to its fast market growth.

The growing call for closing-mile transport, driven by the e-commerce boom, is a crucial aspect of using the marketplace for electric 3-wheelers. These cars are specifically nicely suited for city areas, in which they can help lessen congestion and emissions, expanding the electric three wheeler market share globally. Electric 3-wheelers provide a green and sustainable solution for handing over goods and programs within cities, making them a popular preference for companies and people searching for environmentally friendly transportation options.

Comprehensive Analysis of Electric Three Wheeler Market

The Electric Three Wheeler market is segmented by vehicle, electricity type, battery range, and components. The passenger service segment dominates, driven by the rising center-class populace and calls for cheap, eco-friendly public transportation like e-rickshaws, especially in developing international locations. In terms of electricity type, the 1001 W to 1500 W phase is the best because of its price benefits and manufacturers' awareness of the need to improve electricity ability. Battery range-sensible, the up-to-a-hundred-km segment holds the most significant percentage and is best for brief-distance commutes. Additives, battery packs, and high-voltage additives take the most crucial share, essential for car functioning, while motors additionally see a considerable increase due to multiplied EV adoption.

The Asia Pacific region led the electric three wheeler market by benefitting a size of USD 2.36 billion in 2023 due to the high demographic increase of the more significant middle and lower-middle-elegance income population and the growing shift towards car electrification.

The leading players in the electric three-wheeler market significantly shape its growth trajectory and set industry standards. These key companies, including Mahindra Electric Mobility Limited (India), Piaggio Group (Italy), Terra Motors (Japan), Kinetic Green Energy & Power Solutions Ltd. (India), Gayam Motor Works Pvt. Ltd. (India), Lohia Auto Industries (India), Omega Seiki Pvt. Ltd. (India), E-tuk (U.S.), Bodo Vehicle Group Co. Ltd. (China), Atul Auto Limited (India), YC Electric Vehicle (India), and Saera Electric Auto Pvt. Ltd. (India), contribute to a competitive landscape, driving innovation and advancing the market.

In April 2023, Bajaj Auto added its first 3-wheeled electric vehicle designed for each passenger and load transport. The Bajaj Electric Rickshaw is flexible, serving as an answer for each passenger travel and load hauling. This new electric-powered three-wheeler through Bajaj bridges the space between passenger mobility and cargo transportation.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 18.0% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Vehicle Type

Passenger Carrier

Goods Carrier

By Power Type

Up to 1000 W

1001 W to 1500 W

Above 1500 W

By Battery Range

Up to 100 Km

Above 101 Km

By Component

Battery Pack & High Voltage Component

Motor

Brake, Wheel & Suspension

Body & Chassis

Low Voltage Electric Component

By Region

North America (By Vehicle Type, By Power Type, By Battery Range, By Component)

U.S. (By Vehicle Type)
Canada (By Vehicle Type)
Mexico (By Vehicle Type)

Europe (By Vehicle Type, By Power Type, By Battery Range, By Component)

U.K. (By Vehicle Type)
Germany (By Vehicle Type)
France (By Vehicle Type)
Rest of Europe (By Vehicle Type)

Asia Pacific (By Vehicle Type, By Power Type, By Battery Range, By Component)

India (By Vehicle Type)
China (By Vehicle Type)
Vietnam (By Vehicle Type)
Rest of Asia Pacific (By Vehicle Type)

Rest of the World (By Vehicle Type, By Power Type, By Battery Range, By Component)

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1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Industry Developments –Mergers, Acquisitions and Partnerships; 4.2. Porters Five Forces Analysis; 4.3. PEST Analysis; 4.4. Technological Development; 4.5. Impact of Covid-19
5. Global Electric Three Wheeler Market Analysis, Insights and Forecast, 2019-2032: 5.1. Key Findings / Definitions; 5.2. Market Analysis, Insights and Forecast – By Vehicle Type; 5.2.1. Passenger Carrier; 5.2.2. Goods Carrier; 5.3. Market Analysis, Insights and Forecast – By Power Type; 5.3.1. Up to 1000 W; 5.3.2. 1001 W to 1500 W; 5.3.3. Above 1500 W; 5.4. Market Analysis, Insights and Forecast – By Battery Range; 5.4.1. Up to 100 Km; 5.4.2. Above 101 Km; 5.5. Market Analysis, Insights and Forecast – By Component; 5.5.1. Battery Pack & High Voltage Component; 5.5.2. Motor; 5.5.3. Brake, Wheel & Suspension; 5.5.4. Body & Chassis; 5.5.5. Low Voltage Electric Component; 5.6. Market Analysis, Insights and Forecast – By Region; 5.6.1. North America; 5.6.2. Europe; 5.6.3. Asia pacific; 5.6.4. Rest of the world
6. North America Electric Three Wheeler Market Analysis, Insights and Forecast, 2019-2032: 6.1. Key Findings / Definitions; 6.2. Market Analysis, Insights and Forecast – By Vehicle Type; 6.2.1. Passenger Carrier; 6.2.2. Goods Carrier; 6.3. Market Analysis, Insights and Forecast – By Power Type; 6.3.1. Up to 1000 W; 6.3.2. 1001 W to 1500 W; 6.3.3. Above 1500 W; 6.4. Market Analysis, Insights and Forecast – By Battery Range; 6.4.1. Up to 100 Km; 6.4.2. Above 101 Km; 6.5. Market Analysis, Insights and Forecast – By Component; 6.5.1. Battery Pack & High Voltage Component; 6.5.2. Motor; 6.5.3. Brake, Wheel & Suspension; 6.5.4. Body & Chassis; 6.5.5. Low Voltage Electric Component; 6.6. Market Analysis – By Country; 6.6.1. The U.S.; 6.6.1.1. By Vehicle Type; 6.6.2. Canada; 6.6.2.1. By Vehicle Type; 6.6.3. Mexico; 6.6.3.1. By Vehicle Type
7. Europe Electric Three Wheeler Market Analysis, Insights and Forecast, 2019-2032: 7.1. Key Findings / Definitions; 7.2. Market Analysis, Insights and Forecast – By Vehicle Type; 7.2.1. Passenger Carrier; 7.2.2. Goods Carrier; 7.3. Market Analysis, Insights and Forecast – By Power Type; 7.3.1. Up to 1000 W; 7.3.2. 1001 W to 1500 W; 7.3.3. Above 1500 W; 7.4. Market Analysis, Insights and Forecast – By Battery Range; 7.4.1. Up to 100 Km; 7.4.2. Above 101 Km; 7.5. Market Analysis, Insights and Forecast – By Component; 7.5.1. Battery Pack & High Voltage Component; 7.5.2. Motor; 7.5.3. Brake, Wheel & Suspension; 7.5.4. Body & Chassis; 7.5.5. Low Voltage Electric Component; 7.6. Market Analysis – By Country; 7.6.1. The U.K; 7.6.1.1. Vehicle Type; 7.6.2. Germany; 7.6.2.1. Vehicle Type; 7.6.3. France; 7.6.3.1. Vehicle Type; 7.6.4. Rest of Europe; 7.6.4.1. Vehicle Type
8. Asia Pacific Electric Three Wheeler Market Analysis, Insights and Forecast, 2019-2032: 8.1. Key Findings / Definitions; 8.2. Market Analysis, Insights and Forecast – By Vehicle Type; 8.2.1. Passenger Carrier; 8.2.2. Goods Carrier; 8.3. Market Analysis, Insights and Forecast – By Power Type; 8.3.1. Up to 1000 W; 8.3.2. 1001 W to 1500 W; 8.3.3. Above 1500 W; 8.4. Market Analysis, Insights and Forecast – By Battery Range; 8.4.1. Up to 100 Km; 8.4.2. Above 101 Km; 8.5. Market Analysis, Insights and Forecast – By Component; 8.5.1. Battery Pack & High Voltage Component; 8.5.2. Motor; 8.5.3. Brake, Wheel & Suspension; 8.5.4. Body & Chassis; 8.5.5. Low Voltage Electric Component; 8.6. Market Analysis – By Country; 8.6.1. China; 8.6.1.1. Vehicle Type; 8.6.2. India; 8.6.2.1. Vehicle Type; 8.6.3. Vietnam; 8.6.3.1. Vehicle Type; 8.6.4. Rest of Asia Pacific; 8.6.4.1. Vehicle Type
9. Rest of the World Electric Three Wheeler Market Analysis, Insights and Forecast, 2019-2032: 9.1. Key Findings / Definitions; 9.2. Market Analysis, Insights and Forecast – By Vehicle Type; 9.2.1. Passenger Carrier; 9.2.2. Goods Carrier; 9.3. Market Analysis, Insights and Forecast – By Power Type; 9.3.1. Up to 1000 W; 9.3.2. 1001 W to 1500 W; 9.3.3. Above 1500 W; 9.4. Market Analysis, Insights and Forecast – By Battery Range; 9.4.1. Up to 100 Km; 9.4.2. Above 101 Km; 9.5. Market Analysis, Insights and Forecast – By Component; 9.5.1. Battery Pack & High Voltage Component; 9.5.2. Motor; 9.5.3. Brake, Wheel & Suspension; 9.5.4. Body & Chassis; 9.5.5. Low Voltage Electric Component
10. Competitive Analysis: 10.1. Key Industry Development; 10.2. Global Market Ranking Analysis (2023); 10.3. Competition Dashboard; 10.4. Comparative Analysis – Major Players; 10.5. Company Profiles; 10.5.1. Mahindra Electric Mobility Limited (India); 10.5.1.1. Overview; 10.5.1.2. Products & Services; 10.5.1.3. SWOT Analysis; 10.5.1.4. Recent Developments; 10.5.1.5. Strategies; 10.5.1.6. Financials (Based on Availability); 10.5.2. Piaggio & C.SpA ( Italy); 10.5.2.1. Overview; 10.5.2.2. Products & Services; 10.5.2.3. SWOT Analysis; 10.5.2.4. Recent Developments; 10.5.2.5. Strategies; 10.5.2.6. Financials (Based on Availability); 10.5.3. Terra Motors (Japan); 10.5.3.1. Overview; 10.5.3.2. Products & Services; 10.5.3.3. SWOT Analysis; 10.5.3.4. Recent Developments; 10.5.3.5. Strategies; 10.5.3.6. Financials (Based on Availability); 10.5.4. Kinetic Green Energy & Power Solutions Ltd. (India); 10.5.4.1. Overview; 10.5.4.2. Products & Services; 10.5.4.3. SWOT Analysis; 10.5.4.4. Recent Developments; 10.5.4.5. Strategies; 10.5.4.6. Financials (Based on Availability); 10.5.5. Gayam Motor Works Pvt. Ltd (India); 10.5.5.1. Overview; 10.5.5.2. Products & Services; 10.5.5.3. SWOT Analysis; 10.5.5.4. Recent Developments; 10.5.5.5. Strategies; 10.5.5.6. Financials (Based on Availability); 10.5.6. Lohia Auto Industries (India); 10.5.6.1. Overview; 10.5.6.2. Products & Services; 10.5.6.3. SWOT Analysis; 10.5.6.4. Recent Developments; 10.5.6.5. Strategies; 10.5.6.6. Financials (Based on Availability); 10.5.7. Omega Seiki Pvt. Ltd (India); 10.5.7.1. Overview; 10.5.7.2. Products & Services; 10.5.7.3. SWOT Analysis; 10.5.7.4. Recent Developments; 10.5.7.5. Strategies; 10.5.7.6. Financials (Based on Availability); 10.5.8. E-tuk (U.S.); 10.5.8.1. Overview; 10.5.8.2. Products & Services; 10.5.8.3. SWOT Analysis; 10.5.8.4. Recent Developments; 10.5.8.5. Strategies; 10.5.8.6. Financials (Based on Availability); 10.5.9. Bodo Vehicle Group Co. Ltd ( China); 10.5.9.1. Overview; 10.5.9.2. Products & Services; 10.5.9.3. SWOT Analysis; 10.5.9.4. Recent Developments; 10.5.9.5. Strategies; 10.5.9.6. Financials (Based on Availability); 10.5.10. Atul Auto Limited(India); 10.5.10.1. Overview; 10.5.10.2. Products & Services; 10.5.10.3. SWOT Analysis; 10.5.10.4. Recent Developments; 10.5.10.5. Strategies; 10.5.10.6. Financials (Based on Availability); 10.5.11. YC Electric Vehicle (India); 10.5.11.1. Overview; 10.5.11.2. Products & Services; 10.5.11.3. SWOT Analysis; 10.5.11.4. Recent Developments; 10.5.11.5. Strategies; 10.5.11.6. Financials (Based on Availability); 10.5.12. Saera Electric Auto Pvt. Ltd. (India); 10.5.12.1. Overview; 10.5.12.2. Products & Services; 10.5.12.3. SWOT Analysis; 10.5.12.4. Recent Developments; 10.5.12.5. Strategies; 10.5.12.6. Financials (Based on Availability)