Asia Pacific Electric 3-Wheeler Market by End-use (Passenger & Load), Range (Upto 50 Miles & Above 50 Miles), Battery type (Lead Acid & Lithium ion), Battery Capacity (Below 3kWh, 3kWh-6kWh, Above 6kWh), Motor Power and Country - Global Industry Analysis,Share,Growth,Regional Outlook And Forecasts, 2021-2027

The global Asia Pacific Electric 3-Wheeler market gathered revenue around USD 156,290 units in 2020 and market is set to grow USD 489,546 units by the end of 2027 and is estimated to expand at a modest CAGR of 26.9% during the prediction period 2021 to 2027. The three-wheeler industry has witnessed rapid evolution with ongoing developments in engineering and technology. Technological advancements, such as the inclusion of simulation software, reality tools, telematics unit, and GPS system, and the emergence of disruptive trends, such as the use of energy-efficient electric propulsion and innovative battery technologies, have boosted the demand for electric three-wheelers. With the increasing stringency of government mandates, the focus of three-wheeler manufacturers has shifted to efficiency, emission-free propulsion, innovative technologies, and revised environmental standards. The increasing adoption of electric three-wheelers and improved charging infrastructure (in terms of network and capacity) in countries will change the market scenario in the coming years.

India is projected to be the largest market for Asia Pacific electric three-wheelers during the forecast period.  Factors such as increasing demand for low-emission vehicles and lower operating cost of commuting drive the growth of the Indian electric three-wheeler market. Moreover, a well-established three-wheeler market in the country is paving the path for the adoption of green technology.

 This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Asia Pacific Electric 3-Wheeler market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Asia Pacific Electric 3-Wheeler market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Asia Pacific Electric 3-Wheeler market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Opportunity: New revenue pockets in the Asia Pacific

The Asia Pacific is a high-growth market for electric three-wheelers. Several countries in the region have a high penetration of three-wheelers and have witnessed a surge in demand for low-emission and fuel-efficient commuting alternatives due to stringent emission norms and increasing crude oil prices. Bajaj Auto is commercially launching its first electric three-wheeler during the second half of the 2022 financial year. This showcases that the demand for efficient and affordable electric three-wheelers is expected to grow significantly in the Indian market. OEMs are entering into strategic partnerships to strengthen their bases in the electric three-wheeler market. For instance, Kandi Technologies Group, Inc. entered into a strategic cooperation agreement with the Jiangsu Jinpeng Group Ltd. to jointly develop pure electric vehicles (EVs) in China. Both companies are expected to make use of their respective advantages to jointly develop several pure EV models that meet China’s ride-sharing market demands as well as consumer needs from the US and other overseas markets. The market in the Asia Pacific is expected to grow exponentially in the coming years due to the high adoption of electric three-wheelers in China and the high potential of the Indian market.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Significant Market Participants Operational in the Asia Pacific Electric 3-Wheeler Market are:

The key players considered in the analysis of the electric three-wheeler market are Mahindra & Mahindra Ltd. (India), Atul Auto Ltd. (India), Piaggio Group (Italy), Lohia Auto Industries (India), and Kinetic Engineering Limited (India). among others.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

By End-Use

• Passenger Carrier
• Load Carrier

By Motor Power

• Below 1,000 W T
• 1,000-1,500 W
• Above 1,500 W

By Battery Capacity

•  Below 3 kWh
• 3-6 kWh
• More than 6 kWh

By Range

• Up to 50 Miles
• Above 50 Miles

By Battery Type

• Lead-acid Battery
• Lithium-Ion Battery

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa