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Report
Electric Three-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-06-14 I 146 Pages I IMARC Group
The global electric three-wheeler market size reached US$ 661 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,152 Million by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.
An electric three-wheeler, also known as an e-rickshaw, operates on high torque electric motors and longer durability batteries. It offers last-mile connectivity, easy access to narrow roads, and a noise-free travel experience. It helps improve urban air quality by reducing total greenhouse gas (GHG) and other emissions. Besides this, as it also aids in lowering additional costs associated with fuel consumption, electric three-wheeler is gaining immense traction as a convenient and eco-friendly mode of public transportation across the globe.
Electric Three-Wheeler Market Trends:
Surging levels of air pollution and inflating prices of transportation fuels have resulted in the increasing adoption of green vehicles. This, in confluence with the burgeoning automobile industry, represents one of the key factors bolstering the growth of the market. Besides this, governing authorities of numerous countries are offering subsidies and tax abatements, exempting drivers of electric three-wheelers from toll road or parking fees, and deploying charging stations for electric vehicles (EVs). Moreover, the batteries of these vehicles can be reused and recycled. Apart from this, the introduction of battery-as-a-service (BaaS) can reduce up-front acquisition costs of electric three-wheelers as it enables customers to lease batteries as a separate component. In addition, BaaS is less time-consuming and requires minimum infrastructure compared to charging the battery at a station. This, coupled with the growing popularity of shared mobility, which may help reduce traffic congestion and transportation costs, is fueling market growth. Furthermore, rising environmental awareness among individuals, increasing substitution of petrol-powered three-wheelers with electric three-wheelers, and reducing battery prices that aid in minimizing total costs of ownership (TCO) are some of the other factors projected to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global electric three-wheeler market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on vehicle type, power type and battery type.
Breakup by Vehicle Type:
Passenger Carrier
Load Carrier
Breakup by Power Type:
Up To 1000W
1000W To 1500W
Above 1500W
Breakup by Battery Type:
Lithium-Ion
Lead Acid
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ATUL Auto Limited, Bodo Vehicle Group Co. Ltd., E-Tuk Factory, Goenka Electric Motor Vehicles Private Limited, Jiangsu Jinpeng Group Co. Ltd., Kinetic Green Energy & Power Solutions Ltd., Lohia Auto Industries, Mahindra & Mahindra Limited, Omega Seiki Mobility, Piaggio & C. SpA, Scooters India Limited and Terra Motors Corporation.
Key Questions Answered in This Report
1. What was the size of the global electric three-wheeler market in 2022?
2. What is the expected growth rate of the global electric three-wheeler market during 2023-2028?
3. What are the key factors driving the global electric three-wheeler market?
4. What has been the impact of COVID-19 on the global electric three-wheeler market?
5. What is the breakup of the global electric three-wheeler market based on the vehicle type?
6. What is the breakup of the global electric three-wheeler market based on the power type?
7. What is the breakup of the global electric three-wheeler market based on the battery type?
8. What are the key regions in the global electric three-wheeler market?
9. Who are the key players/companies in the global electric three-wheeler market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Electric Three-Wheeler Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Vehicle Type
6.1 Passenger Carrier
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Load Carrier
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Power Type
7.1 Up To 1000W
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 1000W To 1500W
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Above 1500W
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Battery Type
8.1 Lithium-Ion
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Lead Acid
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 ATUL Auto Limited
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2 Bodo Vehicle Group Co. Ltd.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 E-Tuk Factory
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Goenka Electric Motor Vehicles Private Limited
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Jiangsu Jinpeng Group Co. Ltd.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Kinetic Green Energy & Power Solutions Ltd.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Lohia Auto Industries
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Mahindra & Mahindra Limited
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Omega Seiki Mobility
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Piaggio & C. SpA
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Scooters India Limited
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.12 Terra Motors Corporation
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
Figure 1: Global: Electric Three-Wheeler Market: Major Drivers and Challenges
Figure 2: Global: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017-2022
Figure 3: Global: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 4: Global: Electric Three-Wheeler Market: Breakup by Vehicle Type (in %), 2022
Figure 5: Global: Electric Three-Wheeler Market: Breakup by Power Type (in %), 2022
Figure 6: Global: Electric Three-Wheeler Market: Breakup by Battery Type (in %), 2022
Figure 7: Global: Electric Three-Wheeler Market: Breakup by Region (in %), 2022
Figure 8: Global: Electric Three-Wheeler (Passenger Carrier) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Electric Three-Wheeler (Passenger Carrier) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Electric Three-Wheeler (Load Carrier) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Electric Three-Wheeler (Load Carrier) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Electric Three-Wheeler (Up To 1000W) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Electric Three-Wheeler (Up To 1000W) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Electric Three-Wheeler (1000W To 1500W) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Electric Three-Wheeler (1000W To 1500W) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Electric Three-Wheeler (Above 1500W) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Electric Three-Wheeler (Above 1500W) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Electric Three-Wheeler (Lithium-Ion) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Electric Three-Wheeler (Lithium-Ion) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Electric Three-Wheeler (Lead Acid) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Electric Three-Wheeler (Lead Acid) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: North America: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: North America: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: United States: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: United States: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Canada: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Canada: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Asia-Pacific: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Asia-Pacific: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: China: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: China: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Japan: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Japan: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: India: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: India: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: South Korea: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: South Korea: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Australia: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Australia: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Indonesia: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Indonesia: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Others: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Others: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Europe: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Europe: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Germany: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Germany: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: France: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: France: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: United Kingdom: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: United Kingdom: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Italy: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Italy: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Spain: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Spain: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Russia: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Russia: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Others: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Others: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Latin America: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Latin America: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Brazil: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Brazil: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Mexico: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Mexico: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Middle East and Africa: Electric Three-Wheeler Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Middle East and Africa: Electric Three-Wheeler Market: Breakup by Country (in %), 2022
Figure 70: Middle East and Africa: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Global: Electric Three-Wheeler Industry: SWOT Analysis
Figure 72: Global: Electric Three-Wheeler Industry: Value Chain Analysis
Figure 73: Global: Electric Three-Wheeler Industry: Porter's Five Forces Analysis
Table 1: Global: Electric Three-Wheeler Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Electric Three-Wheeler Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
Table 3: Global: Electric Three-Wheeler Market Forecast: Breakup by Power Type (in Million US$), 2023-2028
Table 4: Global: Electric Three-Wheeler Market Forecast: Breakup by Battery Type (in Million US$), 2023-2028
Table 5: Global: Electric Three-Wheeler Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Electric Three-Wheeler Market: Competitive Structure
Table 7: Global: Electric Three-Wheeler Market: Key Players
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