What is Three Wheelers Market?
Three wheelers are used for goods carriage and public transportation. These are available in electric variants, diesel, petrol, CNG, and LPG. Increasing production of electric powertrain three wheelers across the globe driving the demand for three wheelers. For instance, Bajaj Auto announced to expand production of its three-wheelers up to one million per annum. Further, market players are also focusing on technological development, for example, recently in 2018, Mahindra & Mahindra launched a new range of electric three-wheeler with IP 67 rated battery box. In addition, increasing demand from emerging economies expected to boost the demand for three-wheelers over the forecasted period.
Highlights from Three Wheelers Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Bajaj Auto (India), Mahindra and Mahindra (India), Piaggio (Italy), Atul Auto (India), Scooters India (India), Terra Motors (Japan), Lohia Auto (India), JS Auto (United Sates), Tempo Hanseat (Germany), TVS Motor Company (India) and Wuxi Weiyun Motor Co., Ltd. (China) |
The number of players is focusing on the market hence fragmented nature of the market. Market players are focusing on the production of e-rickshaws. For instance, Bajaj Auto focusing on the development of electric auto rickshaws which will be launched in 2020. Increasing government initiatives for controlling vehicular pollution and rising demand for electric three-wheeler from the passenger segment expected to generate lucrative opportunities for the companies involved in the three-wheeler production. Research Analyst at AMA predicts that India Vendors will contribute to the maximum growth of Global Three Wheelers market throughout the forecasted period.
Bajaj Auto (India), Mahindra and Mahindra (India), Piaggio (Italy), Atul Auto (India), Scooters India (India), Terra Motors (Japan), Lohia Auto (India), JS Auto (United Sates), Tempo Hanseat (Germany), TVS Motor Company (India) and Wuxi Weiyun Motor Co., Ltd. (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Sandhar Technologies (India), Qiangsheng Electric Tricycle (China) and Shandong Shifeng Co., Ltd. (China). Three Wheelers Market Segmentation:
Scope | Sub-Segments |
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Type | Passenger Carriers Three-Wheeler and Goods Carriers Three-Wheeler |
Fuel | Gasoline,Diesel,Electric,CNG/LPG,Others |
On the basis of geography, the market of Three Wheelers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Applications of Lithium-Ion Technology in Three Wheelers and Rising Focus on Zero Emission Technology for Three Wheeler
Market Growth Drivers:
Rise in Production of Three-Wheeler Vehicles and Increasing Government Initiatives to Promote Eco-Friendly Vehicles
Challenges:
Increasing the Speed of Three Wheeler Vehicles
Restraints:
Strong Competition from Small Commercial Vehicles and Stringent Government Regulations Associated With Vehicular Pollution Control
Opportunities:
Emphasizing N Production of E-Rickshaws, Growing Demand of CNG/LPG Three-Wheelers and Increasing Demand of Passenger Carrier Three-Wheeler from Emerging Countries
Key Target Audience
Three Wheeler Manufacturer, Three Wheeler Suppliers and Distributors, Technology Providers, Industry Association, Potential Investors, Government Organizations, Market Research Firm and Others
21st February 2019, Piaggio, Italian two and three-wheeler maker planning to Launch Fully Electric Three-Wheeler in India by Mid-2019 to expand its presence in the three-wheeler passenger segment. and 2nd August 2018, Piaggio launched new series of Ape CNG/LPG three wheelers with water-cooled engine technology