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Global Three-Wheeler Market to Grow at 10.1% During 2022-2027, Impelled by Increasing Demand from Developing Economies

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

Market Overview:

The global three-wheeler market is expected to exhibit a CAGR of 10.1% 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.

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.

 

 
 

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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. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global 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, passenger vehicle and fuel type.

Breakup by Vehicle Type:

 

 
 

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  • 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.

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, Passenger Vehicle, Fuel Type, Region
Region Covered  Asia Pacific, Africa, South America
Countries Covered China, India, Indonesia, Bangladesh, Sri Lanka, Thailand, South Africa, Egypt, Kenya, Nigeria, Tanzania, Brazil, Colombia, Chile, Peru
Companies Covered Bajaj Auto Limited, TVS Motor Company Limited, Mahindra & Mahindra Limited, Piaggio & C. S.p.A., Scooters India Limited, Atul Auto Limited, Kinetic Green and ChongQing Zongshen Tricycle Manufacturing Co., Ltd.
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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 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 Passenger Vehicle
    7.1    4-seater
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    6-seater
        7.2.1 Market Trends
        7.2.2 Market Forecast
8   Market Breakup by Fuel Type
    8.1    Petrol/CNG
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Diesel
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Electric 
        8.3.1 Market Trends
        8.3.2 Market Forecast
9   Market Breakup by Region
    9.1    Asia Pacific
        9.1.1 China
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 India
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
        9.1.3 Indonesia 
           9.1.3.1 Market Trends
           9.1.3.2 Market Forecast
        9.1.4 Bangladesh
           9.1.4.1 Market Trends
           9.1.4.2 Market Forecast
        9.1.5 Sri Lanka
           9.1.5.1 Market Trends
           9.1.5.2 Market Forecast
        9.1.6 Thailand
           9.1.6.1 Market Trends
           9.1.6.2 Market Forecast
    9.2    Africa
        9.2.1 South Africa
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Egypt
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 Kenya
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 Nigeria
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Tanzania
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
    9.3    South America
        9.3.1 Brazil
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 Colombia
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 Chile 
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Peru
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
10  SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11  Value Chain Analysis
    11.1    Overview
    11.2    Inbound Logistics
    11.3    Operations
    11.4    Outbound Logistics
    11.5    Marketing and Sales
    11.6    Service
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  Competitive Landscape
    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    Bajaj Auto Limited 
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio 
        13.3.2    TVS Motor Company Limited
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio 
        13.3.3    Mahindra & Mahindra Limited 
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio 
        13.3.4    Piaggio & C. S.p.A.
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio 
        13.3.5    Scooters India Limited
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio 
        13.3.6    Atul Auto Limited 
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio 
        13.3.7    Kinetic Green 
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio 
        13.3.8    ChongQing Zongshen Tricycle Manufacturing Co., Ltd.
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio 

List of Figures

Figure 1: Global: Three-Wheeler Market: Major Drivers and Challenges
Figure 2: Global: Three-Wheeler Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: Three-Wheeler Market: Breakup by Vehicle Type (in %), 2021
Figure 5: Global: Three-Wheeler Market: Breakup by Passenger Vehicle (in %), 2021
Figure 6: Global: Three-Wheeler Market: Breakup by Fuel Type (in %), 2021
Figure 7: Global: Three-Wheeler Market: Breakup by Region (in %), 2021
Figure 8: Global: Three-Wheeler (Passenger Carrier) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Three-Wheeler (Passenger Carrier) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Three-Wheeler (Load Carrier) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Three-Wheeler (Load Carrier) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Three-Wheeler (4-seater) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Three-Wheeler (4-seater) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Three-Wheeler (6-seater) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Three-Wheeler (6-seater) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Three-Wheeler (Petrol/CNG) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Three-Wheeler (Petrol/CNG) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Three-Wheeler (Diesel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Three-Wheeler (Diesel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Three-Wheeler (Electric) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Three-Wheeler (Electric) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Asia Pacific: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Asia Pacific: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: China: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: China: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: India: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: India: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Indonesia: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Indonesia: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Bangladesh: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Bangladesh: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Sri Lanka: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Sri Lanka: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Thailand: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Thailand: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Africa: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Africa: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: South Africa: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: South Africa: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Egypt: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Egypt: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Kenya: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Kenya: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Nigeria: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Nigeria: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Tanzania: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Tanzania: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: South America: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: South America: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Brazil: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Brazil: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Colombia: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Colombia: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Chile: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Chile: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Peru: Three-Wheeler Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Peru: Three-Wheeler Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Global: Three-Wheeler Industry: SWOT Analysis
Figure 59: Global: Three-Wheeler Industry: Value Chain Analysis
Figure 60: Global: Three-Wheeler Industry: Porter’s Five Forces Analysis

List of Tables

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


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Key Questions Answered in This Report

We expect the global three-wheeler market to exhibit a CAGR of 10.1% during 2022-2027.

The expanding public transportation sector, along with the rising adoption of electric three-wheelers
owing to the growing environmental concerns, is primarily driving the global three-wheeler market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary shutdown of public transportation services to
prevent the risk of the coronavirus infection.

Based on the vehicle type, the global three-wheeler market has been divided into passenger carrier and
load carrier. Currently, passenger carrier holds the majority of the total market share.

Based on the fuel type, the global three-wheeler market can be categorized into petrol/CNG, diesel, and
electric. Among these, petrol/CNG exhibits a clear dominance in the market.

On a regional level, the market has been classified into Asia-Pacific, Africa, and South America, where
Asia-Pacific currently dominates the global market.

Some of the major players in the global three-wheeler market include 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., etc.

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