A three-wheeler is a three wheeled vehicle propelled by petrol/CNG, diesel, or electric motor. Three-wheelers are generally used as a commercial vehicle to transport passenger and goods. The mobility of three-wheelers depends on the maneuverability, affordability, and door-to-door transport. As many developing countries specially in Asia-Pacific and LAMEA require faster and significantly cheaper option for public and goods transport, three-wheeler suites the requirement best.
The three-wheeler market is driven by factors such as increase in demand for commercial vehicle with lower operating cost, last mile connectivity, and growing preference for the electric vehicle as a commercial vehicle. However, increase in fuel prices, higher upfront cost of electric three-wheeler battery, and lack of charging infrastructure are some the potential factors that can hamper the market growth.
By region, Asia-Pacific dominates the market at present, followed by Europe, LAMEA, and North America. In the Asia-Pacific region, India dominated the global three-wheeler market in 2020, and is expected to maintain its dominance during the forecast period. Whereas China is expected to grow at a significant rate in Asia-Pacific, owing to the growing preference of electric three-wheelers in the region.
The three-wheeler market is segmented into fuel type, vehicle type, and region. Depending on fuel type, the market is divided into petrol/CNG, diesel, and electric. On the basis of vehicle type, it is categorized into passenger carrier and load carrier. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the three-wheeler market include Bajaj Auto Ltd, Piaggio & C.SpA, Atul Auto Limited, Chongqing Zongshen Tricycle Manufacture Co. Ltd, J.S. Auto Pvt Ltd, Kinetic Green Energy & Power Solutions Ltd, Mahindra & Mahindra Ltd, Scooters India Limited, Terra Motors Corporation, and TVS Motor Company.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents the analytical depiction of the three-wheeler market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
- The current market is quantitatively analyzed from 2020 to 2028 to highlight the financial competency of the market.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Fuel Type
o Petrol/CNG
o Diesel
o Electric
By Vehicle Type
o Passenger Carrier
o Load Carrier
By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? UK
? Germany
? France
? Italy
? Rest of Europe
o Asia-Pacific
? China
? Japan
? India
? South Korea
? Rest of Asia-Pacific
o LAMEA
? Latin America
? Middle East
? Africa
KEY PLAYERS
o Atul Auto Limited
o Bajaj Auto Ltd
o Chongqing Zongshen Tricycle Manufacture Co. Ltd
o J.S. Auto Pvt Ltd
o Kinetic Green Energy & Power Solutions Ltd
o Mahindra & Mahindra Ltd
o Piaggio & C.SpA
o Scooters India Limited
o Terra Motors Corporation
o TVS Motor Company


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