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Electric Three-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global electric three-wheeler market reached a value of US$ 596.2 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,059.10 Million by 2027, exhibiting a CAGR of 9.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

An electric three-wheeler, also known as an e-rickshaw, operates on high torque electric motors and longer durability batteries. It offers last-mile connectivity, easy access to narrow roads, and a noise-free travel experience. It helps improve urban air quality by reducing total greenhouse gas (GHG) and other emissions. Besides this, as it also aids in lowering additional costs associated with fuel consumption, electric three-wheeler is gaining immense traction as a convenient and eco-friendly mode of public transportation across the globe.

 

 
 

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Electric Three-Wheeler Market Trends:

Surging levels of air pollution and inflating prices of transportation fuels have resulted in the increasing adoption of green vehicles. This, in confluence with the burgeoning automobile industry, represents one of the key factors bolstering the growth of the market. Besides this, governing authorities of numerous countries are offering subsidies and tax abatements, exempting drivers of electric three-wheelers from toll road or parking fees, and deploying charging stations for electric vehicles (EVs). Moreover, the batteries of these vehicles can be reused and recycled. Apart from this, the introduction of battery-as-a-service (BaaS) can reduce up-front acquisition costs of electric three-wheelers as it enables customers to lease batteries as a separate component. In addition, BaaS is less time-consuming and requires minimum infrastructure compared to charging the battery at a station. This, coupled with the growing popularity of shared mobility, which may help reduce traffic congestion and transportation costs, is fueling market growth. Furthermore, rising environmental awareness among individuals, increasing substitution of petrol-powered three-wheelers with electric three-wheelers, and reducing battery prices that aid in minimizing total costs of ownership (TCO) are some of the other factors projected to drive the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global electric three-wheeler market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on vehicle type, power type and battery type.

Breakup by Vehicle Type:

  • Passenger Carrier
  • Load Carrier
     

Breakup by Power Type:

 

 
 

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  • Up To 1000W
  • 1000W To 1500W
  • Above 1500W
     

Breakup by Battery Type:

  • Lithium-Ion
  • Lead Acid
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ATUL Auto Limited, Bodo Vehicle Group Co. Ltd., E-Tuk Factory, Goenka Electric Motor Vehicles Private Limited, Jiangsu Jinpeng Group Co. Ltd., Kinetic Green Energy & Power Solutions Ltd., Lohia Auto Industries, Mahindra & Mahindra Limited, Omega Seiki Mobility, Piaggio & C. SpA, Scooters India Limited and Terra Motors Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Million
Segment Coverage Vehicle Type, Power Type, Battery Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ATUL Auto Limited, Bodo Vehicle Group Co. Ltd., E-Tuk Factory, Goenka Electric Motor Vehicles Private Limited, Jiangsu Jinpeng Group Co. Ltd., Kinetic Green Energy & Power Solutions Ltd., Lohia Auto Industries, Mahindra & Mahindra Limited, Omega Seiki Mobility, Piaggio & C. SpA, Scooters India Limited and Terra Motors Corporation.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Electric Three-Wheeler Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Vehicle Type
    6.1    Passenger Carrier
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Load Carrier
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Power Type
    7.1    Up To 1000W
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    1000W To 1500W
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Above 1500W
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Battery Type
    8.1    Lithium-Ion
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Lead Acid
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    ATUL Auto Limited
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
        14.3.2    Bodo Vehicle Group Co. Ltd.
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
        14.3.3    E-Tuk Factory
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    Goenka Electric Motor Vehicles Private Limited
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
        14.3.5    Jiangsu Jinpeng Group Co. Ltd.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    Kinetic Green Energy & Power Solutions Ltd.
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
        14.3.7    Lohia Auto Industries
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    Mahindra & Mahindra Limited
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    Omega Seiki Mobility
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
        14.3.10    Piaggio & C. SpA
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
        14.3.11    Scooters India Limited
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
        14.3.12    Terra Motors Corporation
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio

List of Figures

Figure 1: Global: Electric Three-Wheeler Market: Major Drivers and Challenges
Figure 2: Global: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: Electric Three-Wheeler Market: Breakup by Vehicle Type (in %), 2021
Figure 5: Global: Electric Three-Wheeler Market: Breakup by Power Type (in %), 2021
Figure 6: Global: Electric Three-Wheeler Market: Breakup by Battery Type (in %), 2021
Figure 7: Global: Electric Three-Wheeler Market: Breakup by Region (in %), 2021
Figure 8: Global: Electric Three-Wheeler (Passenger Carrier) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Electric Three-Wheeler (Passenger Carrier) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Electric Three-Wheeler (Load Carrier) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Electric Three-Wheeler (Load Carrier) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Electric Three-Wheeler (Up To 1000W) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Electric Three-Wheeler (Up To 1000W) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Electric Three-Wheeler (1000W To 1500W) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Electric Three-Wheeler (1000W To 1500W) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Electric Three-Wheeler (Above 1500W) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Electric Three-Wheeler (Above 1500W) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Electric Three-Wheeler (Lithium-Ion) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Electric Three-Wheeler (Lithium-Ion) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Electric Three-Wheeler (Lead Acid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Electric Three-Wheeler (Lead Acid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: North America: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: North America: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: United States: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: United States: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Canada: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Canada: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Asia-Pacific: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Asia-Pacific: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: China: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: China: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Japan: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Japan: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: India: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: India: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: South Korea: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: South Korea: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Australia: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Australia: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Indonesia: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Indonesia: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Others: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Others: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Europe: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Europe: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Germany: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Germany: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: France: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: France: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: United Kingdom: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: United Kingdom: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Italy: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Italy: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Spain: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Spain: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Russia: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Russia: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Others: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Others: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Latin America: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Latin America: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Brazil: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Brazil: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Mexico: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Mexico: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Others: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Others: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Middle East and Africa: Electric Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Middle East and Africa: Electric Three-Wheeler Market: Breakup by Country (in %), 2021
Figure 70: Middle East and Africa: Electric Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Global: Electric Three-Wheeler Industry: SWOT Analysis
Figure 72: Global: Electric Three-Wheeler Industry: Value Chain Analysis
Figure 73: Global: Electric Three-Wheeler Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Electric Three-Wheeler Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Electric Three-Wheeler Market Forecast: Breakup by Vehicle Type (in Million US$), 2022-2027
Table 3: Global: Electric Three-Wheeler Market Forecast: Breakup by Power Type (in Million US$), 2022-2027
Table 4: Global: Electric Three-Wheeler Market Forecast: Breakup by Battery Type (in Million US$), 2022-2027
Table 5: Global: Electric Three-Wheeler Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Electric Three-Wheeler Market: Competitive Structure
Table 7: Global: Electric Three-Wheeler Market: Key Players

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Key Questions Answered in This Report

The global electric three-wheeler market was valued at US$ 596.2 Million in 2021.

We expect the global electric three-wheeler market to exhibit a CAGR of 9.60% during 2022-2027.

The increasing use of electric three-wheeler as a convenient and eco-friendly mode of public
transportation, is primarily driving the global electric three-wheeler market.

The sudden outbreak of the COVID-19 pandemic had led to the growing consumer inclination towards
personal vehicles, to combat the risk of the coronavirus infection, thereby limiting the demand for public
transports, such as electric three-wheelers.

Based on the vehicle type, the global electric three-wheeler market can be segmented into passenger
carrier and load carrier. Currently, passenger carrier holds the majority of the total market share.

Based on the power type, the global electric three-wheeler market has been divided into up to 1000W,
1000W to 1500W, and above 1500W. Among these, 1000W to 1500W exhibits a clear dominance in the
market.

Based on the battery type, the global electric three-wheeler market can be categorized into lithium-ion
and lead acid. Currently, lithium-ion based battery accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global electric three-wheeler market include ATUL Auto Limited, Bodo
Vehicle Group Co. Ltd., E-Tuk Factory, Goenka Electric Motor Vehicles Private Limited, Jiangsu Jinpeng
Group Co. Ltd., Kinetic Green Energy & Power Solutions Ltd., Lohia Auto Industries, Mahindra &
Mahindra Limited, Omega Seiki Mobility, Piaggio & C. SpA, Scooters India Limited, and Terra Motors
Corporation.

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