Asia Pacific Electric 3-Wheeler Market

Asia Pacific Electric 3-Wheeler Market by End-use (Passenger & Load), Range (Upto 50 Miles & Above 50 Miles), Battery type (Lead Acid & Lithium ion), Battery Capacity (Below 3kWh, 3-6kWh, Above 6kWh), Motor Power, Payload Capacity - Forecast to 2027

Report Code: AT 7860 Jun, 2022, by marketsandmarkets.com

[217 Pages Report] Asia Pacific electric 3-wheeler market is estimated to be 272.7 thousand units in 2022 and is projected to grow to 702.1 thousand units by 2027, at a CAGR of 20.8% during the forecast period. Increasing crude oil prices and the demand for eco-friendly mobility alternatives are opening up opportunities for the electric 3-wheeler market. The electric 3-wheeler plays a significant role in meeting the transport requirements in Asia Pacific countries and is critical for reducing air pollution and providing clean mobility solutions. Conventional 3-wheelers with two and four-stroke internal combustion engines are fueled by Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), petrol, and diesel. Electric 3-wheelers have lower operational costs relative to conventional vehicles and are a sustainable means of transportation. They are also able to leverage existing and future mainstream electric vehicle charging infrastructure. Governing bodies have launched initiatives to build charging facilities. The schemes are funded with significant budgets focusing on promoting electric 3-wheelers through subsidies. The global automotive market is racing towards electric mobility with significant advancements in electric vehicle technology.

India is projected to be the largest market for Asia Pacific electric 3-wheelers during the forecast period. Factors such as increasing demand for low-emission vehicles and lower operating cost of commuting drive the growth of the Indian electric 3-wheeler market. Moreover, a well-established 3-wheeler market in the country is paving the path for the adoption of green technology.

Asia Pacific Electric 3-Wheeler Market

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Driver: Advancements in battery technology coupled with reducing prices

The battery is a major component in an electric 3-wheeler. As of 2020, most electric 3-wheelers use either lithium-ion batteries or lead-acid batteries. Lithium batteries work efficiently in adverse weather conditions. In the near future, the demand for lithium-ion family batteries is expected to increase with the increasing number of electric 3-wheelers on roads. New developments in battery chemistry are expected to help increase the efficiency of lithium-ion batteries. According to Saftbatteries, a leading battery technology company, new developments in battery technology can also increase energy storage by a factor of three and increase the lifecycle of a battery five times. Battery prices increased to as high as approximately USD 1,000/kWh in 2009. However, various policies and economies of scale have reduced the cost of batteries. Electric vehicle and component manufacturers carry out research to increase the pack size of batteries to support a range of electric vehicles while reducing costs. For instance, to overcome the problem of unstable silicon in lithium-ion batteries, researchers at the University of Eastern Finland have developed a method to produce a hybrid anode, using mesoporous silicon microparticles and carbon nanotubes. The aim is to replace graphite as the anode in batteries and use silicon, which has ten times the capacity. Using this hybrid material improves the performance of the battery.

Restraint: Lack of charging infrastructure

The largest hurdle in the growth of the Asia Pacific electric 3-wheeler market is expected to be the lack of charging infrastructure. For any user, the most important concern before buying an electric 3-wheeler is expected to be the convenience of charging the vehicle anywhere and anytime. Unlike developed countries, most of the emerging Asia Pacific countries lack the necessary charging facilities. A widespread and extensive charging infrastructure network is needed to ensure the seamless growth of the electric 3-wheeler market in the Asia Pacific region. However, the lack of adequate power infrastructure and high upfront costs associated with charging units might impede the development of EV charging infrastructure in the Asia Pacific region. To accelerate electric mobility, the Government of India’s Phase-II of the FAME scheme created growth opportunities for EVs through demand incentives and charging infrastructure programs.

Opportunity: Government support to promote electric 3-wheeler sales

The Asia Pacific electric 3-wheeler market is expected to grow with time and growing support from government bodies of different countries. Many countries have recognized the need to go electric to reduce the increasing pollution from automobiles, with India and China already gearing up for electric vehicles. In Phase II of FAME (effective from April 2019 in India), a uniform subsidy of 10,000 per kWh has been allocated to support 0.5 million 3-wheelers. Similarly, many countries are expected to introduce such regulations and policies in favor of electric 3-wheelers in the future. Manufacturers are also expected to receive due exemptions in terms of taxes and imports/exports, resulting in the growth of the Asia Pacific electric 3-wheeler market. Government regulations regarding electric vehicles are a major factor contributing to the rising demand for electric 3-wheelers in the Asia Pacific region. According to the Economic Times in February 2022, the Indian government has tripled its budgetary allocation to subsidize the purchase of electric vehicles.

Challenge: High initial investment

Electric 3-wheelers have lower operating costs than ICE 3-wheelers in the long term. However, initial investments are higher than those for conventional 3-wheelers. The components used in electric 3-wheelers such as batteries, motors, and other electrical components are more expensive than conventional mechanical parts. The electric vehicle battery costs 40-50% of the overall production cost. At present, most manufacturers offer electric 3-wheelers along with charging solutions, making it an expensive initial investment for buyers. The high cost involved in developing electric 3-wheelers and related components such as batteries and monitoring systems is a major restraint for electric 3-wheeler adoption in the Asia Pacific region. The electric 3-wheeler battery needs frequent and fast charging through additional equipment such as electric chargers, which are only available at EV charging stations. The battery, charger, and installation cost of the charger add to the cost of the electric 3-wheelers, making them costlier than traditional ICE vehicles.

Load Carrier segment by end-use is expected to be the fastest growing segment during the forecast period

Electric 3-wheeler load carriers are used for transporting goods. Some load carrier models present in the market include Treo Zor, Atul Elite Cargo, Piaggio Ape Electrik, Electric Tricycle (DLS III 150), Electric Logistic Cart, and Erick. Recently, the demand for electric 3-wheeler load carriers has been on the rise in the Asia Pacific region due to the increased focus of countries on emission reduction. For instance, the subsidy scheme launched by Singapore in 2020 is expected to provide electric vehicle (including electric 3-wheeler) buyers with a 45% rebate on the additional registration fee, which is capped at USD 15,000. Various retail, logistics, and courier companies have already started adopting electric 3-wheelers on a small scale. With advancements in technology and the development of more vehicles, the adoption rate of electric 3-wheeler load carriers will grow exponentially. For instance, in February 2021, Flipkart announced that it is planning to deploy 25,000 electric vehicles by 2030 in line with its aim to transition its entire logistics fleet across cities to green energy vehicles. Flipkart’s EV fleet will comprise two, three, and four-wheeler vehicles designed and assembled in India. The company has partnered with prominent electric 3-wheeler manufacturers like Mahindra Electric and Piaggio Group to make customized vehicles. Also, in February 2021, Amazon India and Mahindra Electric announced a partnership under which the e-commerce company deployed the latter's electric 3-wheeler in its delivery network as part of a commitment toward strengthening electric mobility in the country.

Indian market is projected to hold the largest share, in terms of volume, by 2027

The electric 3-wheeler market in India is expected to witness incremental growth in the coming years due to reforms initiated by the government. In February 2020, the government announced the vehicle scrappage policy and the Green Tax policy. Under this, older vehicles beyond a certain range of emissions will have to pay a Green Tax. Vehicle owners can also scrap their old vehicles and get benefits from buying an electric vehicle. Atul Auto Ltd. and Lohia Auto Industries are some of the established players that have already entered the market, and start-ups such as Gayam Motor Works, Speego Vehicles Co. Pvt. Ltd., and Omega Seiki have some innovative offerings in the electric 3-wheeler space. Manufacturers in India are designing electric 3-wheelers after in-depth engineering and research to attain a sleek contemporary pilot’s cabin, seating area, and cargo space. In high-end models, many parameters are considered to reduce the driver's discomfort, intended to ensure maximum safety and productivity of the electric 3-wheeler. The logistics industry of India is undergoing rapid structural changes and development. As modern logistics facilities continue to sprout up across the country, developers are emphasizing adopting technologically advanced electric 3-wheelers.

Asia Pacific Electric 3-Wheeler Market by Region

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Key Market Players

The key players considered in the analysis of the Asia Pacific electric 3-wheeler market are Mahindra & Mahindra Ltd. (India), Atul Auto Ltd. (India), Piaggio Group (Italy), Lohia Auto Industries (India), and Kinetic Engineering Limited (India). These companies offer extensive products for the electric 3-wheeler industry and have strong distribution networks, and they invest heavily in R&D to develop new products.

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Scope of the Report

Report Metric

Details

Market size available for years

2018–2027

Base year considered

2021

Forecast period

2022-2027

Forecast Market Size

Volume (Units)

Segments covered

End-Use (Passenger Carrier & Load Carrier), Range (Upto 50 Miles & Above 50 Miles), Battery type (Lead-acid Battery, Lithium-ion Battery and Others), Battery Capacity (Below 3 kWh, 3 kWh-6kWh, Above 6 kWh), Motor Power, Payload Capacity and Country

Countries covered

Bangladesh, Nepal, India, Sri Lanka, China, Japan, Thailand, Philippines, Indonesia, Vietnam and Singapore

Companies Covered

Mahindra & Mahindra Ltd. (India), Atul Auto Ltd. (India), Piaggio Group (Italy), Lohia Auto Industries (India), and Kinetic Engineering Limited (India) and others
A total of 25 major company profiles covered and provided

This research report categorizes the Asia Pacific electric 3-wheeler market based on end-use, motor power, battery capacity, range, battery type, payload capacity and country

By End-Use

  • Passenger Carrier
  • Load Carrier

By Motor Power

  • Below 1,000 W
  • 1,000-1,500 W
  • Above 1,500 W

By Battery Capacity

  • Below 3 kWh
  • 3-6 kWh
  • Above 6 kWh

By Range

  • Up to 50 Miles
  • Above 50 Miles

By Battery Type

  • Lead-acid Battery
  • Lithium-ion Battery
  • Other

By Payload Capacity

  • Up to 300 kg
  • 300-500 kg
  • Above 500 kg

By Country

  • Bangladesh
  • Nepal
  • India
  • Sri Lanka
  • China
  • Japan
  • Thailand
  • Philippines
  • Vietnam
  • Indonesia
  • Singapore

Recent Developments

  • In April-2022, Atul Auto Ltd. announced the development of a prototype version of both cargo and passenger electric three-wheelers with battery swapping solutions. It will employ the Honda Mobile Power Pack e: Swap, which is a swappable battery pack, and a powertrain system from Valeo.
  • In March-2022, Indraprastha Gas Limited (IGL) and Kinetic Green, a Pune-based leading electric vehicle manufacturer, launched their first "Energy Cafι"- a battery-swapping station designed under a strategic collaboration for E-bikes, E-autos, and E- rickshaws.
  • In October-2021, BP and Piaggio Group announced a partnership to co-develop and roll out a comprehensive set of services for the rapidly growing number of 3- and 3-wheeled electric vehicles across Europe, India, and Asia.
  • In October-2020, Kinetic Green, a subsidiary of Kinetic Engineering Limited, launched the electric cargo Safar Jumbo, which was designed ground-up at its DSIR-recognized EV R&D lab.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 19)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY END-USE
           1.2.2 MARKET, BY BATTERY TYPE
    1.3 MARKET: INCLUSIONS AND EXCLUSIONS
    1.4 MARKET SCOPE
           1.4.1 MARKETS COVERED
                    FIGURE 1 MARKET SEGMENTATION
           1.4.2 YEARS CONSIDERED
    1.5 PACKAGE SIZE
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 26)
    2.1 RESEARCH DATA
           FIGURE 2 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 List of participating companies for primary research
                    2.1.2.3 Key industry insights
                    2.1.2.4 Breakdown of primary interviews
                               FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY, DESIGNATION, AND COUNTRY
    2.2 MARKET SIZE ESTIMATION
           FIGURE 4 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
           FIGURE 5 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH
    2.3 FACTOR ANALYSIS
           2.3.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES
    2.4 DATA TRIANGULATION
           FIGURE 6 MARKET BREAKDOWN AND DATA TRIANGULATION
    2.5 ASSUMPTIONS
    2.6 RISK ASSESSMENT
    2.7 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 36)
    FIGURE 7 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: MARKET DYNAMICS
    TABLE 1 INDIA: ELECTRIC 3-WHEELER SALES DATA, 2019-2021
    FIGURE 8 MARKET, BY COUNTRY, 2022–2027 (UNITS)
    FIGURE 9 BY END-USE, PASSENGER CARRIER SEGMENT PROJECTED TO LEAD MARKET DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 40)
    4.1 ATTRACTIVE OPPORTUNITIES IN ASIA PACIFIC ELECTRIC 3-WHEELER MARKET
           FIGURE 10 ADOPTION OF EFFICIENT AND EMISSION-FREE VEHICLES TO DRIVE MARKET
    4.2MARKET, BY MOTOR POWER
           FIGURE 11 1,000-1,500 W SEGMENT EXPECTED TO LEAD MARKET FROM 2022 TO 2027 (UNITS)
    4.3 MARKET, BY BATTERY TYPE
           FIGURE 12 LEAD-ACID BATTERY SEGMENT EXPECTED TO LEAD MARKET FROM 2022 TO 2027 (UNITS)
    4.4 MARKET, BY RANGE
           FIGURE 13 UP TO 50 MILES SEGMENT EXPECTED TO LEAD MARKET FROM 2022 TO 2027 (UNITS)
    4.5 MARKET, BY BATTERY CAPACITY
           FIGURE 14 3-6 KWH SEGMENT EXPECTED TO LEAD MARKET FROM 2022 TO 2027 (UNITS)
    4.6 MARKET, BY END-USE
           FIGURE 15 PASSENGER CARRIER SEGMENT EXPECTED TO LEAD MARKET FROM 2022 TO 2027 (UNITS)
    4.7 MARKET, BY PAYLOAD CAPACITY
           FIGURE 16 300-500 KG SEGMENT EXPECTED TO LEAD MARKET FROM 2022 TO 2027 (UNITS)
    4.8 MARKET, BY COUNTRY
           FIGURE 17 INDIA ESTIMATED TO BE LARGEST MARKET IN 2022

5 MARKET OVERVIEW (Page No. - 44)
    5.1 INTRODUCTION
           TABLE 2 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: IMPACT OF MARKET DYNAMICS
    5.2 MARKET DYNAMICS
           FIGURE 18 MARKET: MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Low operating and maintenance costs
                    5.2.1.2 Government incentives and subsidies
                               TABLE 3 INDIA: GOVERNMENT INCENTIVES, BY STATE
                               TABLE 4 GOVERNMENT INCENTIVES, BY COUNTRY
                    5.2.1.3 Advancements in battery technology coupled with reducing prices
                               FIGURE 19 PRICE OF EV BATTERY PER KWH
                    5.2.1.4 Established market for 3-wheelers in urban transportation
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of charging infrastructure
                               TABLE 5 INDIA: SPECIFICATIONS OF CHARGING INFRASTRUCTURE
                    5.2.2.2 Limited power output and vehicle range
                               TABLE 6 ELECTRIC 3-WHEELER RANGE
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Government support to promote electric 3-wheeler sales
                               TABLE 7 GOVERNMENT EV POLICY, BY COUNTRY
                    5.2.3.2 Stringent emission norms and environmental regulations
                               TABLE 8 KEY COUNTRIES: EMISSION REGULATION SPECIFICATIONS OVERVIEW, BY FUEL TYPE, 2016–2021
                    5.2.3.3 New revenue pockets in Asia Pacific
           5.2.4 CHALLENGES
                    5.2.4.1 Limited battery capacity
                               TABLE 9 BATTERY CAPACITIES OF POPULAR ELECTRIC 3-WHEELER MODELS
                    5.2.4.2 High initial investments
                               FIGURE 20 AVERAGE TOTAL COST OF CONVENTIONAL VS ELECTRIC 3-WHEELERS (2022)
                    5.2.4.3 Lack of compatibility, interchangeability, and standardization
    5.3 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 21 PORTER’S FIVE FORCES ANALYSIS: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET
           TABLE 10 PORTER’S FIVE FORCES ANALYSIS
           5.3.1 INTENSITY OF COMPETITIVE RIVALRY
           5.3.2 THREAT OF NEW ENTRANTS
           5.3.3 THREAT OF SUBSTITUTES
           5.3.4 BARGAINING POWER OF SUPPLIERS
           5.3.5 BARGAINING POWER OF BUYERS
    5.4 MACROECONOMIC INDICATORS
           5.4.1 GDP TRENDS AND FORECAST FOR MAJOR ASIA PACIFIC ECONOMIES
                    TABLE 11 GDP TRENDS AND FORECAST, BY MAJOR ASIA PACIFIC ECONOMIES, 2018–2026 (USD BILLION)
    5.5 CASE STUDIES
           5.5.1 ELECTRIC 3-WHEELER LOGISTICS FLEET OPERATION WITH CAPTIVE PLUG-IN CHARGING
           5.5.2 ELECTRIC 3-WHEELER LOGISTICS FLEET OPERATION WITH BATTERY SWAPPING
    5.6 TRENDS AND DISRUPTIONS
           FIGURE 22 SHIFT OF FOCUS TOWARDS ELECTRIC 3-WHEELERS
    5.7 REGULATORY OVERVIEW
           5.7.1 INDIA
                    TABLE 12 INDIA REGULATORY FRAMEWORK: DIFFERENCE BETWEEN ROLE OF E-RICKSHAW AND ELECTRIC AUTO RICKSHAW
           5.7.2 CHINA
    5.8 TECHNOLOGY OVERVIEW
           5.8.1 BATTERY SWAPPING IN ELECTRIC 3-WHEELERS
           5.8.2 IOT IN ELECTRIC 3-WHEELERS
           5.8.3 REGENERATIVE BRAKING SYSTEMS
           5.8.4 SMART CHARGING SYSTEMS
    5.9 KEY STAKEHOLDERS & BUYING CRITERIA
           5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    TABLE 13 INFLUENCE OF INSTITUTIONAL BUYERS (COMMERCIAL USAGE) IN BUYING ELECTRIC 3-WHEELERS
           5.9.2 BUYING CRITERIA
                    5.9.2.1 Passenger carrier
                    5.9.2.2 Load carrier
    5.10 DETAILED LIST OF CONFERENCES AND EVENTS
           TABLE 14 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
    5.11 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 15 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.12 ECOSYSTEM ANALYSIS
                    FIGURE 23 MARKET: ECOSYSTEM ANALYSIS
           5.12.1 OEMS
           5.12.2 RAW MATERIAL SUPPLIERS
           5.12.3 BATTERY MANUFACTURERS
           5.12.4 CHARGING INFRASTRUCTURE PROVIDERS
    5.13 SUPPLY CHAIN ANALYSIS
                    TABLE 16 MARKET: SUPPLY CHAIN
                    FIGURE 24 MARKET: SUPPLY CHAIN ANALYSIS
           5.13.1 RAW MATERIAL SUPPLIERS
           5.13.2 COMPONENT MANUFACTURERS
           5.13.3 OEMS
           5.13.4 END-USERS
    5.14 AVERAGE SELLING PRICE
                    TABLE 17 OEM ELECTRIC 3-WHEELER PRICING ANALYSIS (USD)
                    FIGURE 25 LITHIUM-ION BATTERY PRICING ANALYSIS (USD/KWH)
    5.15 PATENT ANALYSIS
                    TABLE 18 PATENT ANALYSIS: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET (ACTIVE PATENTS)
    5.16 SCENARIO ANALYSIS (2022–2027)
           5.16.1 MARKET: MOST LIKELY SCENARIO
                    TABLE 19 MARKET: MOST LIKELY SCENARIO, BY COUNTRY, 2022–2027 (UNITS)
           5.16.2 MARKET: OPTIMISTIC SCENARIO
                    TABLE 20 MARKET: OPTIMISTIC SCENARIO, BY COUNTRY, 2022–2027 (UNITS)
           5.16.3 MARKET: PESSIMISTIC SCENARIO
                    TABLE 21 MARKET: PESSIMISTIC SCENARIO, BY COUNTRY, 2022–2027 (UNITS)
    5.17 TRADE/SALES DATA
           5.17.1 INDIA
                    TABLE 22 ICE 3-WHEELER PRODUCTION IN INDIA (THOUSAND UNITS)
    5.18 3-WHEELER EXPORT DATA
           5.18.1 INDIA
                    TABLE 23 3-WHEELER EXPORT (THOUSAND UNITS)

6 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY CAPACITY (Page No. - 80)
    6.1 INTRODUCTION
           FIGURE 26 BY BATTERY CAPACITY, 3-6 KWH SEGMENT ESTIMATED TO ACCOUNT FOR LARGEST MARKET SIZE IN 2022
           TABLE 24 MARKET, BY BATTERY CAPACITY, 2018–2021 (UNITS)
           TABLE 25 MARKET, BY BATTERY CAPACITY, 2022–2027 (UNITS)
           6.1.1 OPERATIONAL DATA
                    TABLE 26 ELECTRIC 3-WHEELER MODELS WITH BATTERY CAPACITY
           6.1.2 ASSUMPTIONS
           6.1.3 RESEARCH METHODOLOGY
    6.2 BELOW 3 KWH
           6.2.1 DEMAND FOR AFFORDABLE TRANSPORTATION TO DRIVE SEGMENT
    6.3 3–6 KWH
           6.3.1 INCREASING DEMAND IN INTRACITY TRAVEL TO DRIVE SEGMENT
    6.4 ABOVE 6 KWH
           6.4.1 ADOPTION OF LOAD CARRIERS BY LOGISTIC COMPANIES TO DRIVE SEGMENT
    6.5 KEY PRIMARY INSIGHTS
           FIGURE 27 KEY PRIMARY INSIGHTS

7 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY RANGE (Page No. - 86)
    7.1 INTRODUCTION
           FIGURE 28 ABOVE 50 MILES SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
           TABLE 27 MARKET, BY RANGE, 2018–2021 (UNITS)
           TABLE 28 MARKET, BY RANGE, 2022–2027 (UNITS)
           7.1.1 OPERATIONAL DATA
                    TABLE 29 ASIA PACIFIC ELECTRIC 3-WHEELER MODELS, BY RANGE
           7.1.2 ASSUMPTIONS
                    TABLE 30 ASSUMPTIONS: BY RANGE
           7.1.3 RESEARCH METHODOLOGY
    7.2 UP TO 50 MILES
           7.2.1 DEMAND FOR AFFORDABLE ELECTRIC 3-WHEELERS TO DRIVE SEGMENT
                    TABLE 31 UP TO 50 MILES: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2018–2021 (UNITS)
                    TABLE 32 UP TO 50 MILES: MARKET, BY COUNTRY, 2022–2027 (UNITS)
    7.3 ABOVE 50 MILES
           7.3.1 INCREASING BATTERY ENERGY DENSITY TO DRIVE SEGMENT
                    TABLE 33 ABOVE 50 MILES: MARKET, BY COUNTRY, 2018–2021 (UNITS)
                    TABLE 34 ABOVE 50 MILES: MARKET, BY COUNTRY, 2022–2027 (UNITS)
    7.4 KEY PRIMARY INSIGHTS
           FIGURE 29 KEY PRIMARY INSIGHTS

8 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY END-USE (Page No. - 93)
    8.1 INTRODUCTION
           FIGURE 30 LOAD CARRIER SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
           TABLE 35 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)
           TABLE 36 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)
           8.1.1 OPERATIONAL DATA
                    TABLE 37 TOP-SELLING ELECTRIC 3-WHEELER MODELS, BY END-USE
           8.1.2 ASSUMPTIONS
                    TABLE 38 ASSUMPTIONS: BY END-USE
           8.1.3 RESEARCH METHODOLOGY
    8.2 PASSENGER CARRIER
           8.2.1 NEED FOR LOWER EMISSIONS AND OPERATIONAL COSTS TO DRIVE SEGMENT
                    TABLE 39 PASSENGER CARRIER: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2018–2021 (UNITS)
                    TABLE 40 PASSENGER CARRIER: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2022–2027 (UNITS)
    8.3 LOAD CARRIER
           8.3.1 GROWING ADOPTION BY LOGISTICS COMPANIES TO DRIVE SEGMENT
                    TABLE 41 LOAD CARRIER: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2018–2021 (UNITS)
                    TABLE 42 LOAD CARRIER: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2022–2027 (UNITS)
    8.4 KEY PRIMARY INSIGHTS
           FIGURE 31 KEY PRIMARY INSIGHTS

9 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER (Page No. - 101)
    9.1 INTRODUCTION
           FIGURE 32 1,000–1,500 W SEGMENT EXPECTED TO GARNER LARGEST MARKET SHARE DURING FORECAST PERIOD
           TABLE 43 MARKET, BY MOTOR POWER, 2018–2021 (UNITS)
           TABLE 44 MARKET, BY MOTOR POWER, 2022–2027 (UNITS)
           9.1.1 OPERATIONAL DATA
                    TABLE 45 POPULAR ELECTRIC 3-WHEELER MODELS, BY MOTOR POWER
                    FIGURE 33 ELECTRIC 3-WHEELER POWERTRAIN ARCHITECTURE
                    TABLE 46 FACTORS DECIDING MOTOR POWER OF ELECTRIC 3-WHEELERS
           9.1.2 ASSUMPTIONS
                    TABLE 47 ASSUMPTIONS: BY MOTOR POWER
           9.1.3 RESEARCH METHODOLOGY
    9.2 BELOW 1,000 W
           9.2.1 RISING DEMAND FOR ENERGY-EFFICIENT MODES OF COMMUTING TO BOOST SEGMENT
                    TABLE 48 BELOW 1,000 W: MARKET, BY COUNTRY, 2018–2021 (UNITS)
                    TABLE 49 BELOW 1,000 W: MARKET, BY COUNTRY, 2022–2027 (UNITS)
    9.3 1,000–1,500 W
           9.3.1 MOTOR POWER OF 1000–1,500 W MORE FEASIBLE FOR ELECTRIC 3-WHEELER APPLICATIONS
                    TABLE 50 1,000–1,500 W: MARKET, BY COUNTRY, 2018–2021 (UNITS)
                    TABLE 51 1,000–1,500 W: MARKET, BY COUNTRY, 2022–2027 (UNITS)
    9.4 ABOVE 1,500 W
           9.4.1 ELECTRIC 3-WHEELERS WITH ABOVE 1,500 W MOTOR PROVIDE BOTH DISTRIBUTION AND CONSUMER DELIVERY SERVICES
                    TABLE 52 ABOVE 1,500 W: MARKET, BY COUNTRY, 2018–2021 (UNITS)
                    TABLE 53 ABOVE 1,500 W: MARKET, BY COUNTRY, 2022–2027 (UNITS)
    9.5 KEY PRIMARY INSIGHTS
           FIGURE 34 KEY PRIMARY INSIGHTS

10 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY TYPE (Page No. - 111)
     10.1 INTRODUCTION
               FIGURE 35 BY BATTERY TYPE, LITHIUM-ION BATTERY SEGMENT PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
               TABLE 54 MARKET, BY BATTERY TYPE, 2018–2021 (UNITS)
               TABLE 55 MARKET, BY BATTERY TYPE, 2022–2027 (UNITS)
             10.1.1 OPERATIONAL DATA
                       TABLE 56 ELECTRIC 3-WHEELER MODELS WITH BATTERY TYPE
             10.1.2 ASSUMPTIONS
                       TABLE 57 ASSUMPTIONS: BY BATTERY TYPE
             10.1.3 RESEARCH METHODOLOGY
                       TABLE 58 MARKET SHARE: TOP ELECTRIC VEHICLE BATTERY MANUFACTURERS (2021)
     10.2 LEAD-ACID BATTERY
             10.2.1 HIGH ADOPTION OF LEAD-ACID BATTERIES DUE TO LOW COST TO DRIVE MARKET
     10.3 LITHIUM-ION BATTERY
             10.3.1 HIGH ENERGY DENSITY OF LITHIUM-ION BATTERIES DRIVING THEIR DEMAND
     10.4 OTHERS
             10.4.1 LOWER MANUFACTURING COSTS TO DRIVE MARKET FOR OTHER BATTERY SEGMENTS
                       TABLE 59 LIST OF BATTERY MANUFACTURERS, BY BATTERY TYPE
     10.5 KEY PRIMARY INSIGHTS
               FIGURE 36 KEY PRIMARY INSIGHTS

11 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY (Page No. - 119)
     11.1 INTRODUCTION
               FIGURE 37 300–500 KG SEGMENT ESTIMATED TO LEAD MARKET DURING FORECAST PERIOD
               TABLE 60 MARKET, BY PAYLOAD CAPACITY, 2018–2021 (UNITS)
               TABLE 61 MARKET, BY PAYLOAD CAPACITY, 2022–2027 (UNITS)
               TABLE 62 INDIA ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY, 2018–2021 (UNITS)
               TABLE 63 INDIA ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY, 2022–2027 (UNITS)
             11.1.1 OPERATIONAL DATA
                       TABLE 64 POPULAR ELECTRIC 3-WHEELER MODELS, BY PAYLOAD CAPACITY
             11.1.2 ASSUMPTIONS
                       TABLE 65 ASSUMPTIONS: BY PAYLOAD CAPACITY
             11.1.3 RESEARCH METHODOLOGY
     11.2 UP TO 300 KG
             11.2.1 RISING DEMAND FOR AFFORDABLE ELECTRIC 3-WHEELERS DRIVES MARKET
     11.3 300–500 KG
             11.3.1 ELECTRIC 3-WHEELERS WITH 300–500 KG PAYLOAD CAPACITY GENERALLY USED FOR LAST-MILE DELIVERY
     11.4 ABOVE 500 KG
             11.4.1 ELECTRIC 3-WHEELERS WITH ABOVE 500 KG PAYLOAD CAPACITY USED FOR LONG-DISTANCE TRANSPORTATION AND LOGISTICS
     11.5 KEY PRIMARY INSIGHTS
               FIGURE 38 KEY PRIMARY INSIGHTS

12 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY (Page No. - 125)
     12.1 INTRODUCTION
               FIGURE 39 INDIA ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 2022
               FIGURE 40 INDIA EXPECTED TO LEAD MARKET DURING FORECAST PERIOD
               TABLE 66 MARKET, BY COUNTRY, 2018–2021 (UNITS)
               TABLE 67 MARKET, BY COUNTRY, 2022–2027 (UNITS)
             12.1.1 INDIA
                       12.1.1.1 Increasing trend of last-mile delivery to boost market
                                   TABLE 68 INDIA: GOVERNMENT SUBSIDIES & INCENTIVES, BY STATE
                                   TABLE 69 COMPANIES ADOPTING ELECTRIC 3-WHEELER LOAD CARRIERS
                                   TABLE 70 DEVELOPMENTS REGARDING BATTERY SWAPPING STATIONS
                                   TABLE 71 INDIA: TOP SELLING OEMS IN ELECTRIC 3-WHEELER MARKET
                                   TABLE 72 INDIA: ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY, 2018–2021 (UNITS)
                                   TABLE 73 INDIA: ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY, 2022–2027 (UNITS)
                                   TABLE 74 INDIA: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)
                                   TABLE 75 INDIA: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)
                                   TABLE 76 INDIA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2018–2021 (UNITS)
                                   TABLE 77 INDIA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2022–2027 (UNITS)
                                   TABLE 78 INDIA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)
                                   TABLE 79 INDIA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)
             12.1.2 JAPAN
                       12.1.2.1 Stringent emission standards in Japan to drive market
                                   TABLE 80 JAPAN: TARGET FOR ADOPTION OF ELECTRIC VEHICLES
                                   TABLE 81 JAPAN: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)
                                   TABLE 82 JAPAN: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)
                                   TABLE 83 JAPAN: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2018–2021 (UNITS)
                                   TABLE 84 JAPAN: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2022–2027 (UNITS)
                                   TABLE 85 JAPAN: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)
                                   TABLE 86 JAPAN: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)
             12.1.3 THAILAND
                       12.1.3.1 Increasing demand for lower maintenance 3-wheelers to drive market
                                   TABLE 87 THAILAND: TARGET FOR ELECTRIC VEHICLE ADOPTION (2021-2030)
                                   TABLE 88 THAILAND: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)
                                   TABLE 89 THAILAND: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)
                                   TABLE 90 THAILAND: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2018–2021 (UNITS)
                                   TABLE 91 THAILAND: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2022–2027 (UNITS)
                                   TABLE 92 THAILAND: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)
                                   TABLE 93 THAILAND: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)
             12.1.4 BANGLADESH
                       12.1.4.1 Favorable government policies to drive market
                                   TABLE 94 BANGLADESH: ELECTRIC 3-WHEELER DEVELOPMENTS
                                   TABLE 95 BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)
                                   TABLE 96 BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)
                                   TABLE 97 BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2018–2021 (UNITS)
                                   TABLE 98 BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2022–2027 (UNITS)
                                   TABLE 99 BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)
                                   TABLE 100 BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)
             12.1.5 NEPAL
                       12.1.5.1 Developments in charging infrastructure to drive market
                                   TABLE 101 NEPAL: POLICY FOR ADOPTION OF ELECTRIC VEHICLES
                                   TABLE 102 NEPAL: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)
                                   TABLE 103 NEPAL: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)
                                   TABLE 104 NEPAL: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2018–2021 (UNITS)
                                   TABLE 105 NEPAL: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2022–2027 (UNITS)
                                   TABLE 106 NEPAL: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)
                                   TABLE 107 NEPAL: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)
             12.1.6 SRI LANKA
                       12.1.6.1 Growing demand from tourism industry to drive market
                                   TABLE 108 SRI LANKA: LITHIUM-ION BATTERY IMPORTERS, 2021
                                   TABLE 109 SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)
                                   TABLE 110 SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)
                                   TABLE 111 SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2018–2021 (UNITS)
                                   TABLE 112 SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2022–2027 (UNITS)
                                   TABLE 113 SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)
                                   TABLE 114 SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)
             12.1.7 INDONESIA
                       12.1.7.1 Reduction of import duties on components to drive market
                                   TABLE 115 INDONESIA: POLICY FOR ADOPTION OF ELECTRIC VEHICLES
                                   TABLE 116 INDONESIA: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)
                                   TABLE 117 INDONESIA: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)
                                   TABLE 118 INDONESIA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2018–2021 (UNITS)
                                   TABLE 119 INDONESIA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2022–2027 (UNITS)
                                   TABLE 120 INDONESIA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)
                                   TABLE 121 INDONESIA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)
             12.1.8 PHILIPPINES
                       12.1.8.1 Adoption of electric 3-wheelers in major business districts and urban areas to drive market
                                   TABLE 122 PHILIPPINES: TARGET FOR ELECTRIC VEHICLES
                                   TABLE 123 PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)
                                   TABLE 124 PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)
                                   TABLE 125 PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2018–2021 (UNITS)
                                   TABLE 126 PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER, 2022–2027 (UNITS)
                                   TABLE 127 PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)
                                   TABLE 128 PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)
             12.1.9 VIETNAM
                       12.1.9.1 Favorable government policies for electric vehicles to drive market
                                   TABLE 129 VIETNAM: ELECTRIC 3-WHEELER MANUFACTURERS
             12.1.10 CHINA
                        12.1.10.1 Government mandates for electric vehicle manufacturers to drive electric 3-wheeler market
                                   TABLE 130 CHINA: ELECTRIC VEHICLE BATTERY MANUFACTURERS
             12.1.11 SINGAPORE
                        12.1.11.1 Increasing charging infrastructure to drive market
                                   TABLE 131 SINGAPORE: TARGET FOR ELECTRIC VEHICLES

13 COMPETITIVE LANDSCAPE (Page No. - 157)
     13.1 OVERVIEW
     13.2 MARKET SHARE ANALYSIS FOR MARKET
               TABLE 132 MARKET SHARE ANALYSIS, 2021
               FIGURE 41 MARKET SHARE ANALYSIS, 2021
             13.2.1 MAHINDRA & MAHINDRA LTD.
             13.2.2 ATUL AUTO LTD.
             13.2.3 PIAGGIO GROUP
             13.2.4 LOHIA AUTO INDUSTRIES
             13.2.5 KINETIC ENGINEERING LIMITED
     13.3 KEY PLAYER STRATEGIES
               TABLE 133 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN MARKET
     13.4 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS
               FIGURE 42 TOP PUBLIC/LISTED PLAYERS DOMINATING ASIA PACIFIC ELECTRIC 3-WHEELER MARKET DURING LAST FIVE YEARS
     13.5 COMPETITIVE SCENARIO
             13.5.1 NEW PRODUCT LAUNCHES
                       TABLE 134 NEW PRODUCT LAUNCHES, 2018-2022
             13.5.2 DEALS
                       TABLE 135 DEALS, 2018–2022
     13.6 COMPANY EVALUATION QUADRANT
             13.6.1 STARS
             13.6.2 EMERGING LEADERS
             13.6.3 PERVASIVE
             13.6.4 PARTICIPANTS
                       FIGURE 43 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: COMPANY EVALUATION QUADRANT, 2021
                       TABLE 136 MARKET: COMPANY FOOTPRINT, 2021
                       TABLE 137 MARKET: PRODUCT FOOTPRINT, 2021
                       TABLE 138 MARKET: COUNTRY FOOTPRINT, 2021
     13.7 START-UP/SME EVALUATION QUADRANT
             13.7.1 PROGRESSIVE COMPANIES
             13.7.2 RESPONSIVE COMPANIES
             13.7.3 DYNAMIC COMPANIES
             13.7.4 STARTING BLOCKS
                       FIGURE 44 MARKET: START-UP/SME EVALUATION QUADRANT, 2021
                       TABLE 139 MARKET: DETAILED LIST OF KEY START-UPS/SMES
                       TABLE 140 MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [START-UPS/SMES]
     13.8 RIGHT TO WIN, 2018-2022
               TABLE 141 WINNERS VS. TAIL-ENDERS

14 COMPANY PROFILES (Page No. - 172)
(Business overview, Products offered, Recent developments & MnM View)*
     14.1 KEY PLAYERS
             14.1.1 MAHINDRA & MAHINDRA LTD.
                       TABLE 142 MAHINDRA & MAHINDRA LTD.: BUSINESS OVERVIEW
                       FIGURE 45 MAHINDRA & MAHINDRA LTD.: COMPANY SNAPSHOT
                       FIGURE 46 MAHINDRA & MAHINDRA LTD.: MANUFACTURING PLANTS IN INDIA
                       TABLE 143 MAHINDRA & MAHINDRA LTD.: PRODUCTS OFFERED
                       TABLE 144 MAHINDRA & MAHINDRA LTD.: NEW PRODUCT DEVELOPMENTS
                       TABLE 145 MAHINDRA & MAHINDRA LTD: DEALS
             14.1.2 ATUL AUTO LTD.
                       TABLE 146 ATUL AUTO LTD.: BUSINESS OVERVIEW
                       FIGURE 47 ATUL AUTO LTD.: COMPANY SNAPSHOT
                       TABLE 147 ATUL AUTO LTD.: PRODUCTS OFFERED
                       TABLE 148 ATUL AUTO LTD.: DEALS
                       TABLE 149 ATUL AUTO LTD.: OTHERS
             14.1.3 PIAGGIO GROUP
                       TABLE 150 PIAGGIO GROUP: BUSINESS OVERVIEW
                       FIGURE 48 PIAGGIO GROUP: COMPANY SNAPSHOT
                       FIGURE 49 PIAGGIO GROUP: WORKFORCE DISTRIBUTION
                       TABLE 151 PIAGGIO GROUP: PRODUCTS OFFERED
                       TABLE 152 PIAGGIO GROUP: NEW PRODUCT DEVELOPMENTS
                       TABLE 153 PIAGGIO GROUP: DEALS
             14.1.4 LOHIA AUTO INDUSTRIES
                       TABLE 154 LOHIA AUTO INDUSTRIES: BUSINESS OVERVIEW
                       TABLE 155 LOHIA AUTO INDUSTRIES: PRODUCTS OFFERED
                       TABLE 156 LOHIA AUTO INDUSTRIES: NEW PRODUCT DEVELOPMENTS
             14.1.5 KINETIC ENGINEERING LIMITED
                       TABLE 157 KINETIC ENGINEERING LIMITED: BUSINESS OVERVIEW
                       FIGURE 50 KINETIC ENGINEERING LIMITED: COMPANY SNAPSHOT
                       TABLE 158 KINETIC ENGINEERING LIMITED: PRODUCTS OFFERED
                       TABLE 159 KINETIC ENGINEERING LIMITED: NEW PRODUCT DEVELOPMENTS
                       TABLE 160 KINETIC ENGINEERING LIMITED: DEALS
                       TABLE 161 KINETIC ENGINEERING LIMITED: OTHERS
             14.1.6 JIANGSU JINPENG GROUP CO., LTD.
                       TABLE 162 JIANGSU JINPENG GROUP CO., LTD.: BUSINESS OVERVIEW
                       TABLE 163 JIANGSU JINPENG GROUP CO., LTD.: PRODUCTS OFFERED
                       TABLE 164 JIANGSU JINPENG GROUP CO., LTD.: DEALS
                       TABLE 165 JIANGSU JINPENG GROUP CO., LTD.: OTHERS
             14.1.7 SKYRIDE AUTOMOTIVE
                       TABLE 166 SKYRIDE AUTOMOTIVE: BUSINESS OVERVIEW
                       TABLE 167 SKYRIDE AUTOMOTIVE: PRODUCTS OFFERED
             14.1.8 SHADO GROUP INTERNATIONAL PTE. LTD.
                       TABLE 168 SHADO GROUP INTERNATIONAL PTE. LTD.: BUSINESS OVERVIEW
                       TABLE 169 SHADO GROUP INTERNATIONAL PTE. LTD.: PRODUCTS OFFERED
                       TABLE 170 SHADO GROUP INTERNATIONAL PTE. LTD.: NEW PRODUCT DEVELOPMENTS
                       TABLE 171 SHADO GROUP INTERNATIONAL PTE. LTD.: OTHERS
             14.1.9 BEEVATECH LIMITED
                       TABLE 172 BEEVATECH LIMITED: BUSINESS OVERVIEW
                       TABLE 173 BEEVATECH LIMITED: PRODUCTS OFFERED
             14.1.10 SL MOBILITY
                       TABLE 174 SL MOBILITY: BUSINESS OVERVIEW
                       TABLE 175 SL MOBILITY: PRODUCTS OFFERED
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     14.2 OTHER PLAYERS
             14.2.1 TERRA MOTORS CORPORATION
             14.2.2 CHANGZHOU YUFENG VEHICLE CO., LTD.
             14.2.3 XIANGHE QIANGSHENG ELECTRIC TRICYCLE FACTORY
             14.2.4 JIANGSU EAST YONSLAND VEHICLE MANUFACTURING CO., LTD.
             14.2.5 ELECTRIC VEHICLES (THAILAND) CO., LTD.
             14.2.6 PROZZA HIROSE MANUFACTURING INC.
             14.2.7 BAJAJ AUTO
             14.2.8 GAYAM MOTOR WORKS PRIVATE LIMITED
             14.2.9 BEMAC CORPORATION
             14.2.10 SPEEGO VEHICLES CO. PVT. LIMITED
             14.2.11 OMEGA SEIKI PRIVATE LIMITED
             14.2.12 KSL CLEANTECH LIMITED
             14.2.13 ALTIGREEN
             14.2.14 GREEN SHUTTLE TECHNOLOGY PVT. LTD.
             14.2.15 KAWAOKA MACHINERY AND ELECTRIC (NANTONG) CO., LTD.

15 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 209)
     15.1 INDIA IS KEY FOCUS MARKET FOR ELECTRIC 3-WHEELERS
     15.2 INCREASING POPULATION AND DEMAND FOR SHARED MOBILITY TO DRIVE PASSENGER CARRIER SEGMENT
     15.3 CONCLUSION

16 APPENDIX (Page No. - 211)
     16.1 KEY INSIGHTS FROM INDUSTRY EXPERTS
     16.2 DISCUSSION GUIDE
     16.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
     16.4 AVAILABLE CUSTOMIZATIONS
     16.5 RELATED REPORTS
     16.6 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the Asia Pacific electric 3-wheeler market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example International Council on Clean Transportation (ICCT), Society of Manufacturers of Electric Vehicles (SMEV), electric 3-wheeler magazines, corporate filings such as annual reports, investor presentations, and financial statements; and trade, business, and other electric 3-wheeler manufacturers & associations] have been used to identify and collect information useful for an extensive commercial study of the Asia Pacific electric 3-wheeler market.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the Asia Pacific electric 3-wheeler market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand (electric 3-wheeler manufacturers, country-level government associations, and trade associations) and supply (OEMs and component manufacturers) sides across major countries, namely, India, Nepal, Japan, and Bangladesh, and primary interviews were conducted from the demand and supply sides, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in this report.

After interacting with industry experts, brief sessions with highly experienced independent consultants were conducted to reinforce the findings from primaries. This, along with the in-house subject-matter experts’ opinions, has led to the findings described in the remainder of this report.

Asia Pacific Electric 3-Wheeler Market  Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the volume of the Asia Pacific electric 3-wheeler and other dependent submarkets, as mentioned below:

  • Key players in the electric 3-wheeler market were identified through secondary research, and their market shares were determined through primary and secondary research
  • The research methodology included the study of the annual and quarterly financial reports & regulatory filings of major market players, as well as interviews with industry experts for detailed market insights
  • All major penetration rates, percentage shares, splits, and breakdowns for the Asia Pacific electric 3-wheeler market were determined using secondary sources and verified through primary sources
  • All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data
  • The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To analyze the Asia Pacific electric 3-wheeler market and forecast its size, in terms of volume (units), from 2018 to 2027
  • To provide detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To segment the market and forecast its size, by volume (units), based on motor power (below 1,000 W, 1,000–1,500 W, and above 1,500 W)
  • To segment the market and forecast its size, by volume (units), based on battery capacity (below 3 kWh, 3­–6 kWh, and above 6 kWh)
  • To segment the market and forecast its size, by volume (units), based on end-use (passenger carrier and load carrier)
  • To segment the market and forecast its size, by volume (units), based on range (upto 50 miles and above 50 miles)
  • To segment the market and forecast its size, by volume (units), based on battery type (lead-acid battery, lithium-ion battery and others)
  • To segment the market and forecast its size, by volume (units), based on payload capacity (up to 300 kg, 300–500 kg, and above 500 kg)
  • To segment the market and forecast its size, by volume (units), based on country (Bangladesh, China, India, Indonesia, Japan, Nepal, Philippines, Singapore, Sri Lanka, Vietnam and Thailand)
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as new product developments, deals and other activities carried out by key industry participants.

Available Customizations

With the given market data, MarketsandMarkets offers customizations in line with company-specific needs.

  • Asia Pacific electric 3-wheeler market, By Battery Type, at the country-level (For countries covered in the report)
  • Company Information
    • Profiling of Additional Market Players (Up to 5)
Asia Pacific Electric 3-Wheeler Market Size,  Share & Growth Report
Report Code
AT 7860
Published ON
Jun, 2022
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