Three-Wheeler Market Share, Size, Growth, Opportunity and Forecast 2021-2026

Press Release:

Global Three-Wheeler Market to Witness Strong Growth During 2021-2026, Impelled by Increasing Demand from Developing Economies

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Three-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global three-wheeler market grew at a CAGR of around 12% during 2015-2020. Three-wheelers are primarily used for transporting carrier loads or passengers. These vehicles are widely utilized as a convenient public transportation mode for short-to-medium distances and for last-mile connectivity of goods transportation. The high adoption rate of three-wheelers depends upon their fuel efficiency, compact design, cost-effectiveness, and lower emissions. Furthermore, these vehicles are low on maintenance in comparison to other heavy- to medium-duty transportation vehicles.

The expanding public transportation sector, particularly across the developing countries, such as Nepal, Bangladesh, India, Pakistan, etc., is primarily driving the demand for three-wheeler vehicles. Furthermore, the rising number of three-wheeler registrations with several ridesharing and radio taxi companies is also catalyzing the global market. Additionally, the growing adoption of three-wheeler vehicles in the logistics sector for transporting goods to remote locations is further propelling the market growth. Besides this, the soaring fuel prices of conventional fuels, such as petrol and diesel, have led to a rising inclination towards CNG/LPG-driven three-wheelers. Moreover, the growing environmental concerns towards the increasing GHG emissions from gasoline- or diesel-powered three-wheelers have led to the emergence of their eco-friendly alternatives, including e-rickshaws. Additionally, the introduction of various government initiatives and awareness programs to promote the adoption of electric three-wheelers is also augmenting the market growth. Apart from this, rising modernization of several commercial infrastructures, such as shopping malls, educational institutes, metro rail, etc., has led to the growing utilization of electric three-wheelers for providing local conveyance to the customers. Looking forward, IMARC Group expects the global three-wheeler market to continue its strong growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global three-wheeler market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, vehicle type, passenger vehicle and fuel type.

Breakup by Vehicle Type:

Passenger Carrier
Load Carrier

Breakup by Passenger Vehicle:

4-seater
6-seater

Breakup by Fuel Type:

Petrol/CNG
Diesel
Electric

Market Breakup by Region:

Asia-Pacific
- China
- India
- Indonesia
- Bangladesh
- Sri Lanka
- Thailand
Africa
- South Africa
- Egypt
- Kenya
- Nigeria
- Tanzania
South America
- Brazil
- Colombia
- Chile
- Peru

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Bajaj Auto Limited, TVS Motor Company Limited, Mahindra & Mahindra Limited, Piaggio & C. S.p.A., Scooters India Limited, Atul Auto Limited, Kinetic Green, ChongQing Zongshen Tricycle Manufacturing Co., Ltd.

Key Questions Answered in This Report:

How has the global three-wheeler market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global three-wheeler market?
What are the key regional markets?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the passenger vehicle?
What is the breakup of the market based on the fuel type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global three-wheeler market and who are the key players?
What is the degree of competition in the industry?