Global Three-Wheel Electric Vehicle Market Snapshot to 2030 – Growing Inclination Towards Electric Vehicles As A Sustainable And Efficient Alternative For Communal Commuting Drives Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The report “Three Wheel Electric Vehicle Market Size, Share and Trend Analysis by Battery (Lithium-ion, Lead-Acid and Others), by Power, by End Use, by Region and Segment Forecast, 2022 -2030” was added to from ResearchAndMarkets.com offer.

The global electric three-wheeler market size is expected to reach USD 1.57 billion by 2030 with a CAGR growth of 7.5% from 2022 to 2030, according to this report.

Companies cited

  • Mahindra Electric Mobility Limited.

  • Piaggio&C.SpA

  • Atul Auto Limited

  • Terra Motors Corporation

  • Gayam Motor Works

  • Omega Seiki Pvt Ltd

  • Bodo Vehicle Group Ltd

  • Euler Engines

  • Bajaj Auto

  • Jaingusu Jinpeng Vehicle Co Ltd

  • E-Tuk Factory

The growth of the electric three-wheeler market is attributed to factors such as the growing inclination towards electric vehicles as a sustainable and efficient alternative for commuting. The increasing level of carbon emissions into the environment from conventional fossil fuel vehicles has become a significant concern for government and environmental organizations.

As a result, electric three-wheelers are seen as a solution to reduce carbon emissions caused by conventional three-wheelers. In addition to this, increasing traffic congestion and rising fuel prices across all regions have further propelled the electric three-wheeler market as passenger carriers.

The electric three-wheeler is emerging as an affordable option for fossil fuel utility vehicles which is encouraging market growth. In developing countries in Africa and Asia-Pacific, electric three-wheelers are a suitable option for last-mile deliveries and commercial use due to their advantages, such as door-to-door accessibility. door, maneuverability and affordability.

E-commerce companies such as Amazon and Flipkart have partnered with major manufacturers such as Mahindra Electric Mobility Limited to use fleets of electric three-wheelers for last-mile delivery. E-commerce giants plan to deploy more fleets in the coming years.

The Asia-Pacific region is expected to show significant market growth owing to the presence of large markets such as India and China. Both countries have a higher concentration of middle- and lower-income populations where electric three-wheelers are an economical option for daily and last-mile commuting. In addition, government initiatives in these countries, such as FAME and PLI, have given manufacturers and end users benefits such as tax subsidies and rebates. Benefits based on these scheme parameters have made the production of electric three-wheelers and the purchase of electric three-wheelers more affordable.

Highlights of the Electric Three Wheeler Market Report

  • 1000W to 1500W segment observed the highest market share in 2021 owing to its affordable operational cost

  • The growth of the electric three-wheeler market is driven by the demand for passenger vehicles and electric three-wheeler utility vehicles in developing countries owing to an increase in last-mile delivery and commuting.

  • Government initiatives in the Asia-Pacific region such as Indian government’s PLI and FAME program have encouraged the growth of the market

  • Lithium-ion batteries are increasingly used in electric vehicles due to their small size and shorter charging time

Main topics covered:

Chapter 1. Methodology and scope

Chapter 2. Executive Summary

Chapter 3. Electric Three Wheeler Market Analysis Market Variables, Trends and Scope

3.1. Mapping penetration and growth prospects

3.2. Market dynamics

3.2.1. Market Driver Analysis

3.2.2. Analysis of market constraints

3.2.3. Analysis of market opportunities

3.3. Industry Value Chain Analysis

3.4. Electric Three Wheeler Market Key Company Analysis, 2021

3.5. Electric three-wheeler market: main transactions and prospects for strategic alliances

3.6. Market analysis tools

3.6.1. Electric Three Wheeler Market Analysis Industry Analysis – Porter’s Five Forces Analysis

3.6.2. Electric Three Wheeler Market Industry Analysis – PEST Analysis

3.7. Impact of COVID-19 on the electric three-wheeler market

Chapter 4. Electric Three-Wheelers Market: Battery Type Outlook

Chapter 5. Electric Three-Wheelers Market: Energy Outlook

Chapter 6. Electric Three-Wheelers Market: End-Use Outlook

Chapter 7. Electric Three-Wheelers Market: Regional Outlook

Chapter 8. Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/nm8ox4

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