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, 3kWh-6kWh, Above 6kWh), Motor Power and Country - Forecast to 2026

Report Code: AT 7860 Mar, 2021, by marketsandmarkets.com

[185 Pages Report] Asia Pacific electric three-wheeler market is estimated to be 156,397 units in 2021 and is projected to grow to 486,446 units by 2026, at a CAGR of 25.5% during the forecast period. The three-wheeler industry has witnessed rapid evolution with ongoing developments in engineering and technology. Technological advancements, such as the inclusion of simulation software, reality tools, telematics unit, and GPS system, and the emergence of disruptive trends, such as the use of energy-efficient electric propulsion and innovative battery technologies, have boosted the demand for electric three-wheelers. With the increasing stringency of government mandates, the focus of three-wheeler manufacturers has shifted to efficiency, emission-free propulsion, innovative technologies, and revised environmental standards. The increasing adoption of electric three-wheelers and improved charging infrastructure (in terms of network and capacity) in countries will change the market scenario in the coming years.

India is projected to be the largest market for Asia Pacific electric three-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 three-wheeler market. Moreover, a well-established three-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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COVID-19 Impact on Electric three-wheeler Market:

COVID-19 has had a significant impact on the electric three-wheeler market. Both the production and COVID-19 has had a significant impact on the electric three-wheeler market. Both the production and sales of new electric three-wheelers came to a halt across the Asia pacific region as the whole ecosystem got disrupted. OEMs had to wait until lockdowns were lifted to resume production, which affected their business. Post the pandemic, the demand for new electric three-wheelers is expected to show an increase with economies recovering steadily. Nevertheless, another wave of COVID-19 due to newer strains may hamper the recovery in some countries. Subsequently, electric three-wheeler manufacturers would need to adjust the production volume based on the COVID-19 scenario across different countries. Component manufacturing was also suspended during the COVID-19 outbreak, with small Tier II and Tier III manufacturers facing liquidity issues. Thus, production suspension during the outbreak and lower demand post the pandemic might have an unprecedented impact on electric three-wheeler providers.

Asia Pacific electric three-wheeler sales declined by 14.4% between 2019 and 2020 (as per MarketsandMarkets study), the sales outlook was supposed to showcase significant growth from 2021–22 due to multiple steps taken by governments to boost production. For instance, the Government of China has started “Made in China 2025”, which backs companies in the country to compete with regional players. Bangladesh and India, which account for a large share of the Asia Pacific electric three-wheeler production, will observe a decline of 15.0% and 13.8%, respectively, in 2020 compared to 2019.

Driver: Low operating and maintenance costs

One of the most important factors driving the electric three-wheeler market is the increasing prices of petroleum products. Consumers from emerging countries are already affected by the increasing costs of petrol and diesel. Electrical three-wheelers operating on electricity significantly reduce the operating cost of these vehicles. Manufacturers are working towards developing three-wheelers that have a higher range than the current models. As they have a lower number of moving parts than conventional three-wheelers, maintenance too is not a major concern. The highest maintenance cost is expected to be the cost of changing the battery, which, however, is not frequent.

Moreover, electric three-wheelers provide zero tailpipe emissions and noise-free transportation. The three-wheelers with carrying capacity of between three to seven people provide mobility solutions for short trips up to 10–12 km, for first and last mile connectivity and as feeder services to the main haul public transport. The electrification of three-wheelers is expected to result in lower operation and maintenance costs as compared to Internal Combustion Engine (ICE) vehicles, making them economically viable. This is driving the market for electric three-wheelers in the Asia Pacific region.

Restraint: Lack of charging infrastructure

The largest hurdle in the growth of the electric three-wheelers market is expected to be the lack of charging infrastructure. For any user, the most important concern before buying an electric three-wheeler is expected to be the convenience of charging the vehicle anywhere and anytime. Unlike developed countries, most of the emerging countries in the Asia Pacific lack the necessary charging facilities. A widespread and extensive charging infrastructure network is needed to ensure the seamless growth of the electric three-wheeler market. 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. FAME II planned to install 2,636 charging stations in 62 cities across 24 states and union territories in 2020, which is expected to be delayed in the short-term due to the pandemic-related economic downturn.

The cost of the development of charging infrastructure for EVs is also very high. As per Bloomberg estimates, approximately USD 2.7 trillion is expected to be needed to set up effective charging infrastructure for EVs worldwide. The battery of an electric three-wheeler needs frequent and fast charging through additional equipment such as electric chargers, which are only available at EV charging stations. The high cost of development of charging infrastructure is hindering the growth of electric three-wheeler market.

Opportunity: New revenue pockets in the Asia Pacific

The Asia Pacific is a high-growth market for electric three-wheelers. Several countries in the region have a high penetration of three-wheelers and have witnessed a surge in demand for low-emission and fuel-efficient commuting alternatives due to stringent emission norms and increasing crude oil prices. Bajaj Auto is commercially launching its first electric three-wheeler during the second half of the 2022 financial year. This showcases that the demand for efficient and affordable electric three-wheelers is expected to grow significantly in the Indian market. OEMs are entering into strategic partnerships to strengthen their bases in the electric three-wheeler market. For instance, Kandi Technologies Group, Inc. entered into a strategic cooperation agreement with the Jiangsu Jinpeng Group Ltd. to jointly develop pure electric vehicles (EVs) in China. Both companies are expected to make use of their respective advantages to jointly develop several pure EV models that meet China’s ride-sharing market demands as well as consumer needs from the US and other overseas markets. The market in the Asia Pacific is expected to grow exponentially in the coming years due to the high adoption of electric three-wheelers in China and the high potential of the Indian market.

Growth opportunities are also available in Bangladesh, Nepal, Sri Lanka, Thailand, the Philippines, Indonesia, and Singapore. These countries are expected to witness a rapid increase in demand for electric three-wheelers due to government incentives and the presence of supporting infrastructures such as free charging stations and large networks of charging points.

Challenge: Limited battery capacity

Although electric three-wheelers are more energy-efficient than conventional three-wheelers, they still do not meet the design and performance standards. One of the largest challenges for this market is the lack of consumer attention because of unappealing design and average performance. For example, the Indian electric three-wheeler market has limited options with average design and performance. Therefore, manufacturers need to work on the quality of design and performance of electric three-wheelers to enable an increase in demand.

The batteries of current electric vehicles have low capacities and cover limited distances per charge. The performance and service life of batteries directly affect the performance and cost of electric vehicles. Presently, lead-acid and lithium-ion batteries are used to power electric vehicles. Lithium-ion batteries are gradually replacing lead-acid batteries in electric vehicles as they have longer life and high energy density. However, the capacity of lithium-ion batteries is too low to match the standards of conventional vehicles. In cold climates, the charging-discharging performance of batteries declines significantly, making it difficult to provide maximum power.

The time required to charge an electric vehicle with the equipment currently available is high, leading to consumer dissatisfaction. The average time required to charge an electric vehicle from 0% to 100% with a 7-kW charger is more than six hours. Most charging stations are also equipped with low-capacity chargers. These challenges are required to be overcome to facilitate the growth of the electric commercial vehicle market.

Above 50 miles electric three-wheelers segment by range is expected to be the fastest growing segment during the forecast period

Electric three-wheeler manufacturers have recognized the need for maximum range per charge of the battery. Thus, they are focusing on introducing electric three-wheelers with a range above 50 miles. For instance, Mahindra Electric, a subsidiary of Mahindra & Mahindra, launched an electric three-wheeler Treo Zor in 2020, which has a range of up to ~80 miles in a single full charge to deal with range anxiety. This segment is dominated by performance-based electric three-wheelers. Mostly, electric-three wheelers with Lithium-ion batteries lie in this range. They deliver higher performance and longer life than lead-acid batteries, with a span of 3–4 years.

As electric three-wheelers are still in their initial stage, developments in their range are not taking place as fast as in ICE three-wheelers. This range segment of electric three-wheelers is expected to witness prominent growth in the future due to the need for a reduction in commute time and traffic congestion.

Indian market is projected to hold the largest share, in terms of volume, by 2026

India is the largest market in the region, followed by Bangladesh and the Philippines. India is the largest market in the region due to its government policies to support the adoption of electric three-wheelers. In August 2020, the government introduced the new Delhi Electric Vehicle Policy, 2020, intending to increase the adoption of EVs in the national capital region. The new policy proposed tax waivers, charging and swapping infrastructure establishment, battery cycling ecosystem, and creating a non-lapsable State EV Fund. In 2019, Delhi proposed open permits for electric three-wheelers. Moreover, India already has a well-established market for three-wheelers. This is because of the country’s high taxes on petrol, which increases the demand for alternative fuel vehicles. The government’s new vehicle scrappage policies will also support the growth of electric three-wheelers, besides lowering the cost by providing subsidiaries in the country. In 2020, the purchasers of e-carriers were eligible for a scrapping incentive for scrapping and then registering the old ICE goods carriers registered in Delhi. Up to ~USD 104 (INR 7,500) of the incentive shall be reimbursed by the GNCTD for the purchase of e-carriers

Regulatory support would play a key role in electric three-wheeler adoption. A combination of both fiscal and non-fiscal incentives is critical in the medium term. In terms of charging infrastructure, a mix of plug-in charging and battery swapping models must be carefully deployed for the growth of electric three-wheelers. For instance, in 2021, electric vehicle startup Zypp plans to set up 5,000 battery swapping stations for three-wheelers across India over the next three years. The last-mile delivery company, now operational in six cities, has set up 50 battery swapping stations across Delhi NCR and Jaipur.

Key Market Players

The major companies dominating 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 three-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

2018–2026

Base year considered

2021

Forecast period

2021-2026

Forecast Market Size

Volume (Units)

Segments covered

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

Countries covered

Bangladesh, Nepal, India, Sri Lanka, China, Japan, Thailand, the Philippines, Indonesia, 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 electric three-wheeler market based on type, number of axles, tonnage, length, end-use and region

By End-Use

  • Passenger Carrier
  • Load Carrier

By Motor Power

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

By Battery Capacity

  •  Below 3 kWh
  • 3-6 kWh
  • More than 6 kWh

By Range

  • Up to 50 Miles
  • Above 50 Miles

By Battery Type

  • Lead-acid Battery
  • Lithium-Ion Battery

By Country

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

Recent Developments

  • In November 2020, Mahindra Electric, a subsidiary of Mahindra & Mahindra, launched Treo Zor, a 3-wheeler based on the proven Treo platform and which will come in 3 variants – Pickup, Delivery Van, and Flat Bed. The new Treo Zor features an 8kW advanced lithium-ion battery and a best-in-segment payload of 550 kg. Mahindra Electric provides a standard warranty of 3 years/80,000 km. The user can charge the vehicle by plugging it into a 15AMP socket.
  • In October 2020, Piaggio Vehicles Pvt. Ltd. (PVPL), the Indian subsidiary of Piaggio Group, launched Ape E-City, an all-electric auto. The vehicle comes with lithium-ion batteries, an automatic gearbox, and a full digital cluster for better convenience for the driver. The newly launched Piaggio Ape E-City electric three-wheeler gets swappable batteries, and the concept is being brought in association with SUN Mobility. The customers can also check the batteries’ state of charge, locate swap stations, recharge batteries instantly with no waiting time, etc., which can all be done with the help of a smartphone app. The instrument cluster of the vehicle shows the state of charge along with drive modes, service alerts, economy modes, etc.
  • In August 2020, With the three-wheeler segment staying muted in the foreseeable future due to the lockdowns, Kinetic Green, a subsidiary of Kinetic Engineering Limited, has transitioned on using the same vehicle platform to make retail vans, among others.
  • In August 2019, Shado Group launched ERICK in India, an affordable, low voltage, high-performance, and instantly charged electric three-wheeler. ERICK comes in two variants –passenger and cargo three-wheeler versions – and will equip drivers and fleet owners in India with a powerful, robust transport solution and empower owners to develop and profit from their own charging infrastructure. The company claims it is the only firm in Asia providing an ultracapacitor battery that can charge the EV within a few minutes, and the charged battery can last about 20 times longer than the existing ones available in the market. The ultracapacitor battery uses a di-electric material that does not produce any chemical reaction.
  • In December 2019, Kandi Technologies Group, Inc. entered into a strategic cooperation agreement with Jiangsu Jinpeng Group Co., Ltd. to jointly develop the Chinese pure electric vehicle (EV) market. Both companies will use their expertise to jointly create several pure EV models that meet China’s ride-sharing market demands as well as consumers’ needs from the US and other overseas markets.
  • In August 2019, Shado Group plans to invest USD 10 million in its Pune factory in India to produce electric three-wheelers, the first of which will be unveiled in Bengaluru. The company, which has its research and development centers in Singapore, Malacca (Malaysia), and Bengaluru (India), is in the process of starting the production of 1,000 units of electric three-wheelers per month from Pune for India.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 18)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITIONS
           1.2.1 INCLUSIONS & EXCLUSIONS
           TABLE 1 INCLUSIONS & EXCLUSIONS: ELECTRIC THREE-WHEELER MARKET
    1.3 MARKET SCOPE
           FIGURE 1 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: MARKET SEGMENTATION
           1.3.1 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY & PRICING
           TABLE 2 CURRENCY EXCHANGE
    1.5 PACKAGE SIZE
    1.6 LIMITATIONS
    1.7 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 23)
    2.1 RESEARCH DATA
           FIGURE 2 ELECTRIC THREE-WHEELER MARKET: RESEARCH DESIGN
           FIGURE 3 RESEARCH METHODOLOGY MODEL
    2.2 SECONDARY DATA
           2.2.1 KEY SECONDARY SOURCES
           2.2.2 KEY DATA FROM SECONDARY SOURCES
    2.3 PRIMARY DATA
           FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
           2.3.1 SAMPLING TECHNIQUES & DATA COLLECTION METHODS
           2.3.2 PRIMARY PARTICIPANTS
    2.4 MARKET ESTIMATION METHODOLOGY
           FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
    2.5 MARKET SIZE ESTIMATION
           2.5.1 BOTTOM-UP APPROACH
           FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY FOR ELECTRIC THREE-WHEELER MARKET: BOTTOM-UP APPROACH
           2.5.2 TOP-DOWN APPROACH
           FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY FOR ELECTRIC THREE-WHEELER MARKET: TOP-DOWN APPROACH
           FIGURE 8 ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: RESEARCH DESIGN AND METHODOLOGY
           2.5.3 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDE
    2.6 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 9 DATA TRIANGULATION
    2.7 FACTOR ANALYSIS
    2.8 RESEARCH ASSUMPTIONS & LIMITATIONS
    2.9 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 37)
           FIGURE 10 ELECTRIC THREE-WHEELER MARKET: MARKET DYNAMICS
           FIGURE 11 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2021–2026 (UNITS)
           FIGURE 12 PASSENGER CARRIER SEGMENT COVERS THE LARGEST MARKET SHARE IN ELECTRIC THREE-WHEELER MARKET, BY END-USE
           FIGURE 13 IMPACT OF COVID-19 ON THE ELECTRIC THREE-WHEELER MARKET, 2021–2026

4 PREMIUM INSIGHTS (Page No. - 42)
    4.1 ATTRACTIVE OPPORTUNITIES IN ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET
           FIGURE 14 ADOPTION OF EFFICIENT AND EMISSION FREE VEHICLES TO DRIVE THE MARKET
    4.2 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY
           FIGURE 15 INDIA ESTIMATED TO BE LARGEST MARKET IN 2021
    4.3 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER
           FIGURE 16 1,000-1,500 W SEGMENT EXPECTED TO BE THE LARGEST, 2021 VS. 2026 (UNITS)
    4.4 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY BATTERY TYPE
           FIGURE 17 LEAD-ACID BATTERY SEGMENT EXPECTED TO BE THE LARGEST, 2021 VS. 2026 (UNITS)
    4.5 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY RANGE
           FIGURE 18 UP TO 50 MILES SEGMENT IS EXPECTED TO BE THE LARGEST, 2021 VS. 2026 (UNITS)
    4.6 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY BATTERY CAPACITY
           FIGURE 19 3-6 KWH SEGMENT EXPECTED TO BE THE LARGEST, 2021 VS. 2026 (UNITS)
    4.7 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY END USE
           FIGURE 20 PASSENGER CARRIER SEGMENT EXPECTED TO BE THE LARGEST, 2021 VS. 2026 (UNITS)

5 MARKET OVERVIEW (Page No. - 46)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 21 ASIA PACIFIC ELECTRIC THREE-WHEELER 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 INCENTIVE, BY STATE
           TABLE 4 GOVERNMENT INCENTIVES, BY COUNTRY
                    5.2.1.3 Advancements in battery technologies coupled with reducing prices
           FIGURE 22 PRICE OF EV BATTERY PER KWH
                    5.2.1.4 Established market of three-wheelers for urban transportation
           TABLE 5 THREE-WHEELER DOMESTIC SALES IN INDIA (THOUSAND UNITS)
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of charging infrastructure
           TABLE 6 INDIA: SPECIFICATIONS OF CHARGING INFRASTRUCTURE
                    5.2.2.2 Lack of power output and limited range
           TABLE 7 ELECTRIC THREE-WHEELER RANGE
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Government bodies backing electric three-wheelers
           TABLE 8 GOVERNMENT EV POLICY, BY COUNTRY
                    5.2.3.2 Implementation of stringent emission norms and environmental regulations
           FIGURE 23 GLOBAL FUEL ECONOMY AND CO2 EMISSION DATA (2016–2025)
           TABLE 9 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 10 BATTERY CAPACITIES OF POPULAR ELECTRIC THREE-WHEELER MODELS
                    5.2.4.2 High initial investments
           FIGURE 24 AVERAGE TOTAL COST OF DIESEL VS ELECTRIC THREE-WHEELER
    5.3 IMPACT OF MARKET DYNAMICS
           TABLE 11 ELECTRIC THREE-WHEELER MARKET: IMPACT OF MARKET DYNAMICS
    5.4 PORTER’S FIVE FORCES
           FIGURE 25 PORTER’S FIVE FORCES: ELECTRIC THREE-WHEELER MARKET
           FIGURE 26 PORTER’S FIVE FORCES: ELECTRIC THREE-WHEELER MARKET
           TABLE 12 PORTER’S FIVE FORCES ANALYSIS
           5.4.1 DEGREE OF COMPETITION
           FIGURE 27 LARGE NUMBER OF PLAYERS LEADS TO HIGH DEGREE OF COMPETITION IN ELECTRIC THREE-WHEELER MARKET
           5.4.2 THREAT OF NEW ENTRANTS
           FIGURE 28 GOVERNMENT BACKING MARKET GROWTH MAKES NEW ENTRY FAIRLY EASY
           5.4.3 THREAT OF SUBSTITUTES
           FIGURE 29 DEVELOPMENT OF CLEANER FUEL MAKES THREAT OF SUBSTITUTES HIGH
           5.4.4 BARGAINING POWER OF SUPPLIERS
           FIGURE 30 LARGE NUMBER OF SUPPLIERS MAKES BARGAINING POWER OF SUPPLIERS MEDIUM
           5.4.5 BARGAINING POWER OF BUYERS
           FIGURE 31 INCREASING DEMAND FOR ELECTRIC THREE-WHEELERS MAKES BARGAINING POWER OF BUYERS HIGH
    5.5 PRICING ANALYSIS
           TABLE 13 ELECTRIC THREE-WHEELER PRICING ANALYSIS
           FIGURE 32 LITHIUM-ION BATTERY PRICING ANALYSIS (USD/KWH)
           FIGURE 33 LEAD ACID BATTERY PRICING ANALYSIS (USD/KWH)
    5.6 SUPPLY CHAIN ANALYSIS
           TABLE 14 ELECTRIC THREE-WHEELER MARKET: SUPPLY CHAIN
           FIGURE 34 ELECTRIC THREE-WHEELER MARKET: SUPPLY CHAIN ANALYSIS
           5.6.1 RAW MATERIAL SUPPLIER
           5.6.2 COMPONENT SUPPLIERS
           5.6.3 ELECTRIC THREE-WHEELER OEMS
           5.6.4 END USERS
    5.7 TECHNOLOGY ANALYSIS
           5.7.1 BATTERY SWAPPING IN ELECTRIC THREE-WHEELER
    5.8 IOT IN ELECTRIC THREE-WHEELER
    5.9 REGENERATIVE BRAKING
    5.10 SMART CHARGING SYSTEM
    5.11 TRADE/SALES DATA
           5.11.1 INDIA
           TABLE 15 THREE-WHEELER PRODUCTION IN INDIA (THOUSAND UNITS)
    5.12 REVENUE SHIFT FOR ELECTRIC THREE-WHEELER MANUFACTURERS
           FIGURE 35 SHIFT OF FOCUS TOWARDS ELECTRIC THREE-WHEELER
    5.13 CASE STUDY
           5.13.1 ELECTRIC THREE-WHEELER LOGISTICS FLEET OPERATION WITH CAPTIVE PLUG-IN CHARGING
           5.13.2 ELECTRIC THREE-WHEELER LOGISTICS FLEET OPERATION WITH BATTERY SWAPPING
    5.14 REGULATORY OVERVIEW
           5.14.1 INDIA
           TABLE 16 INDIA REGULATORY FRAMEWORK: DIFFERENCE BETWEEN ROLE OF E- RICKSHAW AND ELECTRIC AUTO RICKSHAW
           5.14.2 CHINA
    5.15 INTRODUCTION TO COVID-19
    5.16 COVID-19 HEALTH ASSESSMENT
           FIGURE 36 COVID-19: GLOBAL PROPAGATION
           FIGURE 37 COVID-19 PROPAGATION: SELECT COUNTRIES
    5.17 COVID-19 ECONOMIC ASSESSMENT
           FIGURE 38 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
           5.17.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
           FIGURE 39 CRITERIA IMPACTING GLOBAL ECONOMY
           FIGURE 40 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY
    5.18 ELECTRIC THREE-WHEELER MARKET: COVID-19 IMPACT
           5.18.1 IMPACT ON RAW MATERIAL SUPPLY
           5.18.2 IMPACT ON ELECTRIC THREE-WHEELER PRODUCTION
           5.18.3 IMPACT DUE ON ELECTRIC THREE-WHEELER DEMAND
    5.19 ELECTRIC THREE-WHEELER MARKET, MARKET SCENARIOS (2020–2026)
           FIGURE 41 ELECTRIC THREE-WHEELER MARKET: FUTURE TRENDS & SCENARIOS, 2020–2026
           5.19.1 MOST LIKELY SCENARIO
           TABLE 17 ELECTRIC THREE-WHEELER MARKET: MOST LIKELY SCENARIO, BY COUNTRY, 2020–2026 (UNITS)
           5.19.2 OPTIMISTIC SCENARIO
           TABLE 18 ELECTRIC THREE-WHEELER MARKET: OPTIMISTIC SCENARIO, BY COUNTRY, 2020–2026 (UNITS)
           5.19.3 PESSIMISTIC SCENARIO
           TABLE 19 ELECTRIC THREE-WHEELER MARKET: PESSIMISTIC SCENARIO, BY COUNTRY, 2020–2026 (UNITS)

6 ELECTRIC THREE-WHEELER MARKET, BY BATTERY CAPACITY (Page No. - 81)
    6.1 INTRODUCTION
           FIGURE 42 3-6 KWH SEGMENT IS EXPECTED TO COVER THE LARGEST MARKET SHARE IN 2021
           TABLE 20 ELECTRIC THREE-WHEELER MARKET, BY BATTERY CAPACITY, 2018–2020 (UNITS)
           TABLE 21 ELECTRIC THREE-WHEELER MARKET, BY BATTERY CAPACITY, 2021–2026 (UNITS)
    6.2 OPERATIONAL DATA
           TABLE 22 POPULAR ELECTRIC THREE-WHEELER MODELS WITH BATTERY CAPACITY
           6.2.1 ASSUMPTIONS
           TABLE 23 ASSUMPTIONS: BY BATTERY CAPACITY
    6.3 RESEARCH METHODOLOGY
    6.4 BELOW 3 KWH
           6.4.1 DEMAND FOR AFFORDABLE TRANSPORTATION TO DRIVE THE SEGMENT
    6.5 3–6 KWH
           6.5.1 INCREASING DEMAND IN INTRACITY TRAVEL TO DRIVE THE SEGMENT
    6.6 ABOVE 6 KWH
           6.6.1 ADOPTION OF LOAD CARRIERS BY THE LOGISTIC COMPANIES TO DRIVE THE SEGMENT
    6.7 KEY PRIMARY INSIGHTS
           FIGURE 43 KEY PRIMARY INSIGHTS

7 ELECTRIC THREE-WHEELER MARKET, BY RANGE (Page No. - 88)
    7.1 INTRODUCTION
           FIGURE 44 ABOVE 50 MILES IS EXPECTED TO REGISTER HIGHER CAGR DURING THE FORECAST PERIOD
           TABLE 24 ELECTRIC THREE-WHEELER MARKET, BY RANGE, 2018–2020 (UNITS)
           TABLE 25 ELECTRIC THREE-WHEELER MARKET, BY RANGE, 2021–2026 (UNITS)
    7.2 OPERATIONAL DATA
           TABLE 26 POPULAR ELECTRIC THREE-WHEELER MODELS WITH RANGE
           7.2.1 ASSUMPTIONS
           TABLE 27 ASSUMPTIONS: BY RANGE
    7.3 RESEARCH METHODOLOGY
    7.4 UP TO 50 MILES
           7.4.1 DEMAND FOR AFFORDABLE ELECTRIC THREE-WHEELERS TO DRIVE THE SEGMENT
           TABLE 28 UP TO 50 MILES: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2018–2020 (UNITS)
           TABLE 29 UP TO 50 MILES: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2021–2026 (UNITS)
    7.5 ABOVE 50 MILES
           7.5.1 INCREASING BATTERY ENERGY DENSITY TO DRIVE THE SEGMENT
           TABLE 30 ABOVE 50 MILES: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2018–2020 (UNITS)
           TABLE 31 ABOVE 50 MILES: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2021–2026 (UNITS)
    7.6 KEY PRIMARY INSIGHTS
           FIGURE 45 KEY PRIMARY INSIGHTS

8 ELECTRIC THREE-WHEELER MARKET, BY END-USE (Page No. - 95)
    8.1 INTRODUCTION
           FIGURE 46 LOAD CARRIER SEGMENT EXPECTED TO REGISTER HIGHER CAGR DURING THE FORECAST PERIOD
           TABLE 32 ELECTRIC THREE-WHEELER MARKET, BY END-USE, 2018–2020 (UNITS)
           TABLE 33 ELECTRIC THREE-WHEELER VEHICLE MARKET, BY END USE, 2021–2026 (UNITS)
    8.2 OPERATIONAL DATA
           TABLE 34 POPULAR ELECTRIC THREE-WHEELER MODELS
           8.2.1 ASSUMPTIONS
           TABLE 35 ASSUMPTIONS: BY END-USE TYPE
    8.3 RESEARCH METHODOLOGY
    8.4 PASSENGER CARRIER
           8.4.1 NEED FOR LOWER EMISSIONS AND OPERATIONAL COSTS TO DRIVE THE SEGMENT
           TABLE 36 PASSENGER CARRIER: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2018–2020 (UNITS)
           TABLE 37 PASSENGER CARRIER: ELECTRIC THREE-WHEELER VEHICLE MARKET, BY COUNTRY, 2021–2026 (UNITS)
    8.5 LOAD CARRIER
           8.5.1 GROWING ADOPTION BY LOGISTICS COMPANIES TO DRIVE THE SEGMENT
           TABLE 38 LOAD CARRIER: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2018–2020 (UNITS)
           TABLE 39 LOAD CARRIER: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2021–2026 (UNITS)
    8.6 KEY PRIMARY INSIGHTS
           FIGURE 47 KEY PRIMARY INSIGHTS

9 ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER (Page No. - 103)
    9.1 INTRODUCTION
           FIGURE 48 1,000–1,500 W SEGMENT IS EXPECTED TO COVER THE LARGEST MARKET SHARE
           TABLE 40 ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER, 2018–2020 (UNITS)
           TABLE 41 ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER, 2021–2026 (UNITS)
    9.2 OPERATIONAL DATA
           TABLE 42 POPULAR ELECTRIC THREE-WHEELER MODELS WITH MOTOR POWER
           TABLE 43 SUMMARY OF ICE AND ELECTRIC THREE-WHEELER LOAD CARRIER
           FIGURE 49 ELECTRIC THREE-WHEELER POWERTRAIN ARCHITECTURE
           TABLE 44 FACTORS DECIDING MOTOR POWER OF ELECTRIC THREE-WHEELERS
           9.2.1 ASSUMPTIONS
           TABLE 45 ASSUMPTIONS: BY MOTOR POWER
    9.3 RESEARCH METHODOLOGY
    9.4 BELOW 1,000 W
           9.4.1 RISE IN DEMAND FOR ENERGY-EFFICIENT MODES OF COMMUTING TO BOOST THE SEGMENT
    9.5 1,000–1,500 W
           9.5.1 MOTOR POWER WITHIN A RANGE OF 1,000–1,500 W IS MORE FEASIBLE FOR ELECTRIC THREE-WHEELER APPLICATIONS
    9.6 ABOVE 1,500 W
           9.6.1 ELECTRIC THREE-WHEELER WITH ABOVE 1,500 W MOTOR PROVIDE BOTH DISTRIBUTION AND CONSUMER DELIVERY SERVICES
    9.7 KEY PRIMARY INSIGHTS
           FIGURE 50 KEY PRIMARY INSIGHTS

10 ELECTRIC THREE-WHEELER MARKET, BY BATTERY TYPE (Page No. - 110)
     10.1 INTRODUCTION
           FIGURE 51 LITHIUM-ION BATTERY SEGMENT PROJECTED TO GROW AT HIGHER CAGR
           TABLE 46 ELECTRIC THREE-WHEELER MARKET, BY BATTERY TYPE, 2018–2020 (UNITS)
           TABLE 47 ELECTRIC THREE-WHEELER MARKET, BY BATTERY TYPE, 2021–2026 (UNITS)
     10.2 OPERATIONAL DATA
           TABLE 48 POPULAR ELECTRIC THREE-WHEELER MODELS WITH BATTERY TYPE
             10.2.1 ASSUMPTIONS
           TABLE 49 ASSUMPTIONS: BY BATTERY TYPE
     10.3 RESEARCH METHODOLOGY
     10.4 LEAD-ACID BATTERY
             10.4.1 LOW COST TO DRIVE THE SEGMENT
     10.5 LITHIUM-ION BATTERY
             10.5.1 HIGH ENERGY DENSITY TO DRIVE THE SEGMENT
     10.6 KEY PRIMARY INSIGHTS
           FIGURE 52 KEY PRIMARY INSIGHTS

11 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY (Page No. - 116)
     11.1 INTRODUCTION
           FIGURE 53 INDIA ESTIMATED TO BE LARGEST MARKET SHARE IN 2021
           FIGURE 54 FAVORABLE GOVERNMENT POLICIES WOULD DRIVE THE ASIA PACIFIC ELECTRIC THREE-WHELER MARKET
           TABLE 50 ASIA PACIFIC: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2018–2020 (UNITS)
           TABLE 51 ASIA PACIFIC: ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, 2021–2026 (UNITS)
             11.1.1 INDIA
                        11.1.1.1 Last-mile delivery to boost the market
           TABLE 52 INDIA: GOVERNMENT INCENTIVES, BY STATE
           TABLE 53 COMPANIES THAT ADOPTED ELECTRIC THREE-WHEELER LOAD CARRIERS
           TABLE 54 DEVELOPMENTS REGARDING BATTERY SWAPPING STATIONS
           TABLE 55 INDIA: ELECTRIC THREE-WHEELER MARKET, BY END-USE, 2018–2020 (UNITS)
           TABLE 56 INDIA: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021–2026 (UNITS)
             11.1.2 JAPAN
                        11.1.2.1 Stringent emission standards to drive the market
           TABLE 57 JAPAN: ELECTRIC THREE-WHEELER MARKET, BY END-USE, 2018–2020 (UNITS)
           TABLE 58 JAPAN: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021–2026 (UNITS)
             11.1.3 THAILAND
                        11.1.3.1 Need for an alternative to conventional fuel dependency to drive the market
           TABLE 59 THAILAND: ELECTRIC THREE-WHEELER MARKET, BY END-USE, 2018–2020 (UNITS)
           TABLE 60 THAILAND: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021–2026 (UNITS)
             11.1.4 BANGLADESH
                        11.1.4.1 Favorable government policies to drive the market
           TABLE 61 BANGLADESH: ELECTRIC THREE-WHEELER MARKET, BY END-USE, 2018–2020 (UNITS)
           TABLE 62 BANGLADESH: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021–2026 (UNITS)
             11.1.5 NEPAL
                        11.1.5.1 Development in charging infrastructure to drive the market
           TABLE 63 NEPAL’S NATIONALLY DETERMINED ADOPTION OF ELECTRIC VEHICLES
           TABLE 64 NEPAL: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2018–2020 (UNITS)
           TABLE 65 NEPAL: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021–2026 (UNITS)
             11.1.6 SRI LANKA
                        11.1.6.1 Growing demand from tourism industry to drive the market
           TABLE 66 SRI LANKA: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2018–2020 (UNITS)
           TABLE 67 SRI LANKA: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021–2026 (UNITS)
             11.1.7 INDONESIA
                        11.1.7.1 Tax incentives like reduction of import duties on components to drive the market
           TABLE 68 INDONESIA: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2018–2020 (UNITS)
           TABLE 69 INDONESIA: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021–2026 (UNITS)
             11.1.8 PHILIPPINES
                        11.1.8.1 Adoption in major business districts and urban areas to drive the market
           TABLE 70 PHILIPPINES: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2018–2020 (UNITS)
           TABLE 71 PHILIPPINES: ELECTRIC THREE-WHEELER MARKET, BY END USE, 2021–2026 (UNITS)
             11.1.9 CHINA
             11.1.10 SINGAPORE

12 COMPETITIVE LANDSCAPE (Page No. - 134)
     12.1 MARKET EVALUATION FRAMEWORK
           FIGURE 55 MARKET EVALUATION FRAMEWORK
     12.2 OVERVIEW
           FIGURE 56 KEY DEVELOPMENTS BY LEADING PLAYERS IN ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET
     12.3 MARKET SHARE ANALYSIS FOR ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET
           TABLE 72 MARKET SHARE ANALYSIS, 2017–2020
           FIGURE 57 MARKET SHARE ANALYSIS, 2020
     12.4 MARKET EVALUATION FRAMEWORK: REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS
           FIGURE 58 TOP PUBLIC/LISTED PLAYERS DOMINATING THE ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET IN LAST 5 YEARS
     12.5 COMPETITIVE SCENARIO
             12.5.1 NEW PRODUCT LAUNCHES
           TABLE 73 NEW PRODUCT LAUNCHES, 2017–2020
             12.5.2 DEALS
           TABLE 74 DEALS, 2017–2020
             12.5.3 EXPANSIONS, 2017–2020
           TABLE 75 EXPANSIONS, 2017–2020
     12.6 COMPETITIVE LEADERSHIP MAPPING FOR ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET
             12.6.1 STARS
             12.6.2 EMERGING LEADERS
             12.6.3 PERVASIVE
             12.6.4 PARTICIPANTS
           FIGURE 59 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: COMPETITIVE LEADERSHIP MAPPING FOR VEHICLE MANUFACTURERS, 2020
           TABLE 76 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: COMPANY FOOTPRINT, 2020
           TABLE 77 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: COMPANY APPLICATION FOOTPRINT, 2020
           TABLE 78 ASIA PACIFIC ELECTRIC THREE-WHEELER MARKET: REGIONAL FOOTPRINT, 2020
     12.7 WINNERS VS. TAIL-ENDERS
           TABLE 79 WINNERS VS. TAIL-ENDERS

13 COMPANY PROFILES (Page No. - 149)
(Business overview, Products offered, Recent developments & MnM View)* 
     13.1 KEY PLAYERS
             13.1.1 MAHINDRA & MAHINDRA LTD.
           TABLE 80 MAHINDRA & MAHINDRA LTD.: BUSINESS OVERVIEW
           TABLE 81 UNITS MANUFACTURE BY MAHINDRA & MAHINDRA LTD. IN 2019
           FIGURE 60 MAHINDRA & MAHINDRA LTD.: COMPANY SNAPSHOT
             13.1.2 ATUL AUTO LTD.
           TABLE 82 ATUL AUTO LTD.: BUSINESS OVERVIEW
           TABLE 83 ATUL AUTO LTD.: DOMESTIC SALES
           TABLE 84 ATUL AUTO LTD.: EXPORT SALES
           FIGURE 61 ATUL AUTO LTD.: COMPANY SNAPSHOT
             13.1.3 PIAGGIO GROUP
           TABLE 85 PIAGGIO GROUP: BUSINESS OVERVIEW
           TABLE 86 PIAGGIO GROUP: VEHICLE SOLD (‘000 UNITS)
           FIGURE 62 PIAGGIO GROUP: COMPANY SNAPSHOT
             13.1.4 LOHIA AUTO INDUSTRIES
           TABLE 87 LOHIA AUTO INDUSTRIES: BUSINESS OVERVIEW
             13.1.5 KINETIC ENGINEERING LIMITED
           TABLE 88 KINETIC ENGINEERING LIMITED: BUSINESS OVERVIEW
           FIGURE 63 KINETIC ENGINEERING LIMITED: COMPANY SNAPSHOT
             13.1.6 JIANGSU JINPENG GROUP CO., LTD.
           TABLE 89 JIANGSU JINPENG GROUP CO., LTD.: BUSINESS OVERVIEW
             13.1.7 SKYRIDE AUTOMOTIVE
           TABLE 90 SKYRIDE AUTOMOTIVE: BUSINESS OVERVIEW
             13.1.8 SHADO GROUP INTERNATIONAL PTE. LTD.
           TABLE 91 SHADO GROUP INTERNATIONAL PTE. LTD.: BUSINESS OVERVIEW
             13.1.9 BEEVATECH LIMITED
           TABLE 92 BEEVATECH LIMITED: BUSINESS OVERVIEW
             13.1.10 SL MOBILITY
           TABLE 93 SL MOBILITY: BUSINESS OVERVIEW
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.  
     13.2 OTHER PLAYERS
             13.2.1 TERRA MOTORS CORPORATION
             13.2.2 CHANGZHOU YUFENG VEHICLE CO., LTD.
             13.2.3 XIANGHE QIANGSHENG ELECTRIC TRICYCLE FACTORY
             13.2.4 JIANGSU EAST YONSLAND VEHICLE MANUFACTURING CO., LTD.
             13.2.5 ELECTRIC VEHICLES (THAILAND) CO., LTD.
             13.2.6 PROZZA HIROSE MANUFACTURING INC. (PHILIPPINES)
             13.2.7 BAJAJ AUTO
             13.2.8 GAYAM MOTOR WORKS PRIVATE LIMITED
             13.2.9 BEMAC CORPORATION
             13.2.10 SPEEGO VEHICLES CO. PVT. LIMITED
             13.2.11 OMEGA SEIKI PRIVATE LIMITED
             13.2.12 KSL CLEANTECH LTD.
             13.2.13 ALTIGREEN
             13.2.14 GREEN SHUTTLE TECHNOLOGY PVT. LTD.
             13.2.15 KAWAOKA MACHINERY AND ELECTRIC (NANTONG) CO., LTD.

14 APPENDIX (Page No. - 179)
     14.1 KEY INSIGHTS OF INDUSTRY EXPERTS
     14.2 DISCUSSION GUIDE
     14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     14.4 AVAILABLE CUSTOMIZATIONS
     14.5 RELATED REPORTS
     14.6 AUTHOR DETAILS

 

The study involved four major activities in estimating the current size of the electric three-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 three-wheeler magazines, corporate filings such as annual reports, investor presentations, and financial statements; and trade, business, and other electric three-wheeler manufacturers & associations] have been used to identify and collect information useful for an extensive commercial study of the electric three-wheeler market.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the electric three-wheeler market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand (electric three-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 electric three-wheeler and other dependent submarkets, as mentioned below:

  • Key players in the electric three-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 electric three-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 three-wheeler market and forecast its size, in terms of volume (units), from 2018 to 2026
  • 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 and lithium-ion battery)
  • To segment the market and forecast its size, by volume (units), based on country (Bangladesh, China, India, Indonesia, Japan, Nepal, Philippines, Singapore, Sri Lanka, and Thailand)
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product developments, expansions, partnerships, collaborations, 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.

  • Electric three-wheeler Market, By Battery Type, at the country-level (For countries covered in the report)
  • Electric three-wheeler Market, By End-Use, at the country-level (For countries covered in the report)

Company Information

  • Profiling of Additional Market Players (Up to 5)
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