Asian Three-Wheeler Growth Opportunities
Governments EV Transition Policies and Emerging Business Models will Create Demand and Accelerate Market Growth
Electric three-wheelers (E3Ws) in Asia have registered significant growth due to increasing fuel prices, favorable policies, and government initiatives to improve charging infrastructure, accelerating electric vehicle (EV) adoption in the region. E3Ws are also gaining popularity as they are an environment-friendly option and have low operating costs; post-pandemic, the booming eCommerce market has also supported the growth of cargo E3Ws as most eCommerce companies prefer E3Ws for last-mile mobility. Some Asian countries have also started using E3Ws for tourism, and the trend is gaining popularity.
Improving charging infrastructure, especially battery-swapping infrastructure, is expected to improve E3W demand in Asian countries as it will address one of the major concerns drivers have—that of range anxiety.
This study assesses current trends and emerging business models in the Asian region along with a select few countries' government initiatives, charging infrastructure, top OEM profiles, and growth opportunities.
- Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8™
- The Impact of the Top 3 Strategic Imperatives on the Asian Electric Three-wheeler (E3W) Market
- Growth Opportunities Fuel the Growth Pipeline Engine™
- Growth Environment
- Key Takeaways
- Competitive Landscape
- Pivotal E3W Usages
- E3W Target Customer Requirements
- Pivotal E3W Parameters
- Select OEM Growth Strategy Matrix
- Select E3W OEMs' Growth and Technology Matrix
- Trend Impact Analysis on the Asian E3W Market
- Business Model: Growth Opportunity Analysis
- Recent Partnerships in the Fast-Growing Indian Market
- Growth Opportunity Analysis
- Scope of Analysis
- Segmentation
- Growth Drivers
- Growth Restraints
- Growth Metrics
- Forecast Assumptions
- Forecast Methodology
- Unit Sales Forecast
- Unit Sales Forecast by Country 0.0 500.0 1,000.0 1,500.0 2,000.0 2,500.0 3,000.0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 CAGR (2022– 2030) Japan 0.0 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 1.0 1.1 1.3 19.9% Philippines 0.9 0.9 0.6 0.5 0.6 1.0 1.6 2.6 4.3 7.1 10.9 17.0 26.3 61.2% Thailand 0.1 0.1 0.1 0.1 0.2 0.3 0.5 0.7 0.9 1.3 1.6 2.0 2.5 34.7% India 110.1 133.5 90.4 158.2 350.2 437.8 503.5 579.0 665.9 765.7 880.6 924.6 970.8 13.6% China 36.6 403.5 632.1 788.8 935.7 1,076.1 1,237.5 1,423.1 1,494.2 1,568.9 1,647.4 1,729.8 1,816.2 8.6% Unit Sales (000)
- Leading Competitors
- E3W Market Trends
- Trend 1: Booming eCommerce and Last-mile Delivery Services Boosting E3W Sales
- Trend 2: Shift from Lead-acid to Lithium-ion Batteries
- Trend 3: Battery as a Service (BaaS) for E3Ws
- Trend 4: Implementation of Built-in Telematics Solutions
- Trend 5: Innovative Battery Solutions: Rapid Charging Technology
- Trend 6: Shift from L3 to L5 E3Ws
- Trend 7: Innovative EV Tires
- Trend 8: Emerging Fintech Platforms Offering Multiple Financing Options
- Charging Infrastructure
- Types of Batteries E3Ws Use
- Charging Infrastructure: Requirements and Charging Types
- Battery Charging and Swapping Service Providers
- Charging Station Distribution
- E3W Value Chain
- E3W Ecosystem
- Select Value Chain Participants
- E3W Ecosystem Integration for Select OEMs
- E3W Business Models
- Business Model 1: Fleet Management as a Service (FMaaS)
- Business Model 2: Renting and Leasing of E3Ws by OEMs
- Business Model 3: Shared Mobility for E3Ws
- Business Model 4: eTuk-tukTours
- Regional/Country-wise Analysis
- Growth Metrics
- Overall Market Development
- Key Government Regulations
- E3W Infrastructure
- Unit Sales Forecast
- Competitive Environment
- Company Profile: Huaihai Holding Group
- Company Profile: Qiangsheng Group
- Company Profile: Zongshen Motor
- Growth Metrics
- Overall Market Development
- Key Government Regulations
- E3W Infrastructure
- Unit Sales Forecast
- Competitive Environment
- Company Profile: M&M Last Mile Mobility (LMM)
- Company Profile: YC Electric Vehicle
- Company Profile: Saera Electric
- Growth Metrics
- Overall Market Development
- Key Government Regulations
- E3W Infrastructure
- Unit Sales Forecast
- Competitive Environment
- Company Profile: BEMAC Electric Transportation Philippines, Inc.
- Company Profile: Tojo Motors
- Company Profile: EGV
- Growth Metrics
- Overall Market Development
- Key Government Regulations
- E3W Infrastructure
- Unit Sales Forecast
- Competitive Environment
- Company Profile: eTuk Factory
- Company Profile: BIZ NEX Motor
- Growth Metrics
- Overall Market Development
- Key Government Regulations
- E3W Infrastructure
- Unit Sales Forecast
- Competitive Environment
- Company Profile: BEMAC Corporation
- Company Profile: Terra Motors
- Growth Opportunity Universe
- Growth Opportunity 1: Investments in E3W Start-ups to Play a Vital Role in Changing the E3W Mobility Space
- Growth Opportunity 2: Collaborations with Technologically Advanced EV Stakeholders
- Growth Opportunity 3:Innovative Business Models Creating New Growth Opportunities
- Next Steps
- Your Next Steps
- Why Frost, Why Now?
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