Electric Three-wheeler Market Research Report Information By Vehicle Type (Passenger Carrier, Utility/Goods Carrier), By Driving Range (50-100 miles, Less than 50 miles, Above 100 miles), By Battery Type (Lithium-ion, Lead Acid, Nickel Metal Hydride, and Others ), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) - Global Industry Size, Share, Growth, Trends and Forecast To 2030

Electric Three-Wheeler Market Overview

Electric three-wheeler Market Size was valued at USD 4.53 billion in 2021. The electric three-wheeler market industry is projected to grow from USD 4.73 Billion in 2022 to USD 5.9 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.10% during the forecast period (2022 - 2030). growing demand for ecofriendly vehicles are driving the market growth.

Electric three-wheeler Market Trends

Government focus on the e-mobility industry

Across the globe, governments are focusing on accelerating the transition from internal combustion engine vehicles to electric vehicles as well as the infrastructure required to support them. The German government offers grants up to USD 9824.8 plus tax reduction for fully electric passenger vehicles USD 43666 for small to medium-sized electric trucks as well as up to USD 54582.5 for heavy-duty trucks. The United States federal government offers up to USD 7500 in tax credits for qualifying PEVs as well as California announced a USD 3.9 billion package that includes funds to put 1,000 school buses, 1000 zero-emission cars as well as 1,000 public transit buses on the roads.

Lack of charging infrastructure is a top barrier to electric vehicle adoption, especially in the United States and the United Kingdom. Even Though most electric vehicles are charged at work or home, roll out of public charging is critical for supporting electric vehicle growth. Furthermore, In 2021 there were around 1.8 million publicly accessible chargers across the world, the majority of which are in the UK, EU or China. For meeting future demand, European Union regulation call for a ratio of 1 public charger per 10 electric vehicles as well as will need member countries for installing charging points every 60 km on public highways.

Electric three-wheeler Market Segment Insights

The Electric three-wheeler market is segmented by vehicle type which is further bifurcated as a passenger carrier and goods carrier. The passenger carrier segment is leading the vehicle type segment with respect to the electric three-wheeler market revenue This is primarily owing to the rising consumer preference for electric vehicles over fossil fuel vehicles.

September 2022- Jumia, an Africa-based e-commerce player, has collaborated with Biliti Electric, a California-based EV solutions provider, to add electric vans to its delivery fleet in Kenya. The partners say they have effectively finished the pilot project and are scaling the fleet within Kenya in the first phase and across Africa.

October 2022- Several small companies across Europe are doing their part in boosting the electric shift. For instance, a company called Zeway in France has been working on developing its presence in the market, especially in electric scooters and mopeds. With a single battery type utilized in its model range, the company concentrates on infrastructure and the products, providing a more accessible way to keep the wheels turning.

Electric Three-Wheeler Driving Range Insights

The driving range segment is further bifurcated as less than 50 miles, 50-100 miles, and above 100 miles. According to MRFR analysis, the 50-100 miles segment is expected to have the largest market share. Developments in electric vehicles combined with vigorous investments by automakers and increasing concerns about environmental pollution is other major factor for the growth of the market.

Electric Three-Wheeler Regional Insights

Asia-Pacific electric three-wheeler market has the largest share, and of China and India, which are the largest markets in the world by country. Other prominent countries in the region include Bangladesh, Cambodia, and Thailand. The dependence of most of the public on public transport, and favorable government policies in the region is increasing the market for electric three-wheelers. Some of the largest companies in the region include Atul Auto, Jiangsu Kingbon Vehicle Co. Ltd, and Terra Motors Corporation. Thus, this region is anticipated to register a highest CAGR in the electric three-wheeler market during the forecast period. Further, the Germany electric three-wheeler market held the largest market share, and the UK electric three-wheeler market was the fastest growing market in the European region.

Electric Three-Wheeler Key Market Players & Competitive Insights

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Key Companies in the Electric Three-Wheeler market includes

• Terra Motors Corporation


• Changzhou Yufeng Vehicle Co. Ltd.


• Xianghe Quiangsheng Electric Tricycle Factory


• Jiangsu Kingbon Vehicle Co. Ltd.


• Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd.


• Kinetic Green Energy & Power Solutions Ltd.


• Piaggio Group


• Lohia Auto Industries


• Groupe PSA


• Mahindra Group


• Atul Auto Limited


• Adapt Motors Pvt. Ltd.


• Electrode

Electric Three-Wheeler Industry Developments

October 2022- Several small companies across Europe are doing their part in boosting the electric shift. For instance, a company called Zeway in France has been working on developing its presence in the market, especially in electric scooters and mopeds. With a single battery type utilized in its model range, the company concentrates on infrastructure and the products, providing a more accessible way to keep the wheels turning.

September 2022- Jumia, an Africa-based e-commerce player, has collaborated with Biliti Electric, a California-based EV solutions provider, to add electric vans to its delivery fleet in Kenya. The partners say they have effectively finished the pilot project and are scaling the fleet within Kenya in the first phase and across Africa.

Electric Three-Wheeler Market Segmentation

By Vehicle Type Outlook

• 
  

  Passenger Carrier

  
  


• 
  

  Utility/Goods Carrier

  
  

By Driving Range Outlook

• 
  

  Less Than 50 Miles

  
  


• 
  

  50–100 MILES

  
  


• 
  

  Above 100 Miles

  
  

By Battery Type Outlook

• 
  

  Lthium-ion

  
  


• 
  

  Nickel Metal Hydride

  
  


• 
  

  Lead-Acid

  
  


• 
  

  Others

  
  

Electric Three-Wheeler Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

Report Scope:

Report Attribute/Metric	Details
Market Size 2021	USD 4.5 billion
Market Size 2022	USD 4.7 billion
Market Size 2030	USD 5.9 billion
Compound Annual Growth Rate (CAGR)	11.10% (2022-2030)
Base Year	2021
Forecast Period	2022-2030
Historical Data	2018 & 2020
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Vehicle Type, Driving Range, Battery Type and Region
Geographies Covered	North America, Europe, Asia Pacific, and Rest of the World
Countries Covered	The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled	Terra Motors Corporation Changzhou Yufeng Vehicle Co. Ltd. Xianghe Quiangsheng Electric Tricycle Factory Jiangsu Kingbon Vehicle Co. Ltd. Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd. Kinetic Green Energy & Power Solutions Ltd. Piaggio Group
Key Market Opportunities	High demand in developing countries
Key Market Dynamics	Growing demand for eco-friendly vehicles Rising consumer preference for electric vehicles over fossil fuel vehicles

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