The global Three-Wheeler Vehicle market gathered revenue around USD 10.8 billion in 2021 and market is set to grow USD 17.4 billion by the end of 2030 and is estimated to expand at a modest CAGR of 6.9% during the prediction period 2022 to 2030.
Since the coronavirus outbreak has spelled gloom for the global automotive industry, companies in the three-wheeler vehicle market are adopting innovative strategies to stay financially afloat. They are drawing analysis to understand their high-risk clients and customers where recovery of debt may be an issue. Manufacturers are rethinking supply chain networks to reduce their dependence on China and other countries for raw materials & other components.
Due to the COVID-19 pandemic, the three-wheeler vehicle market witnessed a reduced requirement for last-mile commute. Nevertheless, pandemic related restrictions are being minimized, and this is anticipated to increase revenue flow in the global economy. Opening up of schools, offices, and other public places in India is helping market stakeholders to leverage incremental opportunities in the region. As such, there is a need for funding in the market landscape.
Report Scope of the Three-Wheeler Vehicle Market
|
Report Coverage |
Details |
|
Market Size |
US$ 17.4 Billion by 2030 |
|
Growth Rate |
CAGR of 6.9% from 2022 to 2030 |
|
Fastest Growing Market |
Asia Pacific |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2030 |
|
Segments Covered |
Product, Source, Application, End-user and Region, |
|
Companies Mentioned |
Bajaj Auto Limited., Mahindra & Mahindra Ltd., Piaggio & C. SpA, Scooters India Ltd., TVS Motor Company, Atul Auto Limited., Lohia Auto Industries, Terra Motors Corporation, Force Motors, Mahindra Electric Mobility Limited |
Growing Lightweight Requirements in Three-wheeler Vehicles Intensify Market Competition
The three-wheeler vehicle market is projected to reach the valuation of US$ 17.4 Bn by 2030. However, there is a growing need for reducing weight of three-wheeler vehicles. Thus, to achieve this, companies should follow methods such as glass to be replaced with transparent plastic material named polycarbonate and make use of LED (Light Emitting Diode) headlights & tail lamps.
The trend of retrofitting three-wheelers into electric vehicles (EVs) is translating into value-grab opportunities for automotive companies. In order to boost the number electric vehicles on Indian roads, the government has proposed a policy that can potentially eliminate personal vehicles during the upcoming decades. The growing awareness about shared mobility with the help of electric auto rickshaws is emerging as a promising strategy to reduce emissions. Three-wheeler tempos for goods transportation are also creating revenue opportunities for automotive giants.
Pollution-free Delivery of Essentials Grabbing Attention of Electric Vehicle Manufacturers
Even though the COVID-19 crisis has affected business activities in the three-wheeler vehicle market, the pandemic has sparked innovations that are paving the future of mobility. The market is projected to grow at a CAGR of 6.9% during the forecast period. Electric three-wheelers have the potential to be integrated with a refrigerated carriage in order to deliver pharmaceuticals and food items. These electric three-wheelers hold potentials for healthcare stakeholders to assist in the ongoing coronavirus vaccine drives for last mile delivery.
Companies in the three-wheeler vehicle market are boosting output capacities for battery-powered vehicles that can store vaccines for several hours in a stationary state at extremely low temperatures. Existing three-wheeler vehicles are being retrofitted with refrigerated carriages and other components to achieve mass inoculation of people living in India. The trend of pollution-free delivery of essentials is grabbing the attention of market stakeholders.
Three-wheeler Motorcycles Gain Prominence in Japan for Sea Freight
Asia Pacific holds lucrative revenue opportunities for three-wheeler vehicle market players. Apart from auto rickshaws, companies in Japan are increasing the availability of three-wheeler motorcycles. Customized logo and packaging are growing prominent in three-wheeler motorcycles that support sea freight. Companies are boosting R&D to develop three-wheeler motorcycles that can be used in flat, rugged, and uphill terrains.
Even as three-wheeler motorcycles are growing popular in Japan, China is one of the frontrunners in the manufacturing of vehicles. Such findings are creating value-grab opportunities for stakeholders in the three-wheeler vehicle market. Three-wheeler motorcycles run on gasoline and accommodate air-cooled & water-cooled engines. Manufacturers are tapping revenue opportunities through eCommerce to boost sales of three-wheeler motorcycles.
Drivers of Three-wheeler Vehicle Market
Challenges for Three-wheeler Vehicle Market
Three-wheeler Vehicle Market Segmentation
Three-wheeler Vehicle Market: Regional Analysis
Some of the prominent players in the Three-Wheeler Vehicle Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Three-Wheeler Vehicle Market Study:
1. Executive Summary
1.1. Global Market Outlook
1.1.1. Market Size (Number of Unit Sold) & Value (US$ Mn), 2010?2030
1.2. TMR Analysis and Recommendations
1.3. Competitive Dashboard Analysis
2. Demand & Supply Side Trends – Three-wheeler Vehicle Market
2.1. COVID-19 Impact Analysis
3. Market Overview
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints/ Threats
3.1.3. Opportunity
3.2. Market Factor Analysis
3.2.1. Porter’s Five Force Analysis
3.2.2. SWOT Analysis
3.2.3. PESTEL Analysis
3.2.4. Value Chain Analysis
3.3. Regulatory Scenario
3.4. Technology Roadmap
3.5. Cost Structure Analysis
4. Global Three-wheeler Vehicle Market, by Region
4.1. Global Three-wheeler Vehicle Market Volume (Units) & Value (US$ Mn), Analysis & Forecast, By Region, 2010?2030
4.1.1. Americas
4.1.2. Europe
4.1.3. Asia - Pacific
4.1.4. Middle East
4.1.5. Africa
5. Global Three-wheeler Vehicle Market, by Country
5.1. Americas
5.1.1. U.S.
5.1.2. Canada
5.1.3. Mexico
5.1.4. Argentina
5.1.5. Brazil
5.1.6. Rest of Americas
5.2. Europe
5.2.1. UK
5.2.2. France
5.2.3. Germany
5.2.4. Italy
5.2.5. Spain
5.2.6. Turkey
5.2.7. Rest of Europe
5.3. Asia Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. Australia
5.3.5. New Zealand
5.3.6. ASEAN
5.3.6.1. Indonesia
5.3.6.2. Malaysia
5.3.6.3. Myanmar
5.3.6.4. Thailand
5.3.6.5. Vietnam
5.3.6.6. Other ASEAN Countries
5.3.7. Rest of Asia Pacific
5.4. Middle East
5.4.1. Syria
5.4.2. GCC
5.4.2.1. Saudi Arabia
5.4.2.2. UAE
5.4.2.3. Other GCC Countries
5.4.3. Jordan
5.4.4. Israel
5.4.5. Rest of Middle East
5.5. Africa
5.5.1. South Africa
5.5.2. Zimbabwe
5.5.3. Kenya
5.5.4. Egypt
5.5.5. Tanzania
5.5.6. Rest of Africa
6. Competition Landscape – Three-wheeler Vehicle Manufacturers
6.1. Market Share for each player
6.1.1. By Region
6.1.2. By Country
6.2. Global Market Volume (Mn Units) for each player
6.3. Global Market Revenue (US$ Mn) for each player
7. Global Three-wheeler Vehicle Market, by Fuel Type
7.1. Market Snapshot
7.1.1. Introduction, Definition, and Key Findings
7.1.2. Market Growth & Y-o-Y Projections
7.1.3. Base Point Share Analysis
7.2. Global Three-wheeler Vehicle Market Volume (Units) & Value (US$ Mn), Analysis & Forecast, 2010?2030, By Fuel Type
7.2.1. Petrol
7.2.2. Diesel
7.2.3. CNG
7.2.4. Electric
7.2.5. Others
8. Global Three-wheeler Vehicle Market, by Usage
8.1. Market Snapshot
8.1.1. Introduction, Definition, and Key Findings
8.1.2. Market Growth & Y-o-Y Projections
8.1.3. Base Point Share Analysis
8.2. Global Three-wheeler Vehicle Market Volume (Units) & Value (US$ Mn), Analysis & Forecast, by Usage, 2010?2030
8.2.1. Passenger Carrier
8.2.2. Goods Carrier
9. Global Three-wheeler Vehicle Market, by Configuration
9.1. Market Snapshot
9.1.1. Introduction, Definition, and Key Findings
9.1.2. Market Growth & Y-o-Y Projections
9.1.3. Base Point Share Analysis
9.2. Global Three-wheeler Vehicle Market Volume (Units) & Value (US$ Mn), Analysis & Forecast, by Configuration, 2010?2030
9.2.1. Two Front Wheels
9.2.2. Two Rear Wheels
10. Global Three-wheeler Vehicle Market, by Power Output
10.1. Market Snapshot
10.1.1. Introduction, Definition, and Key Findings
10.1.2. Market Growth & Y-o-Y Projections
10.1.3. Base Point Share Analysis
10.2. Global Three-wheeler Vehicle Market Volume (Units) & Value (US$ Mn), Analysis & Forecast, by Power Output, 2010?2030
10.2.1. Less than 4 kW
10.2.2. 4.1 kW to 6 kW
10.2.3. 6.1 kW to 9 kW
10.2.4. More than 9 kW
11. Global Three-wheeler Vehicle Market, by Engine Location
11.1. Market Snapshot
11.1.1. Introduction, Definition, and Key Findings
11.1.2. Market Growth & Y-o-Y Projections
11.1.3. Base Point Share Analysis
11.2. Global Three-wheeler Vehicle Market Volume (Units) & Value (US$ Mn), Analysis & Forecast, by Engine Location, 2010?2030
11.2.1. Front Engine
11.2.2. Rear Engine
12. Country level analysis Three-wheeler Vehicle Market Volume (Units) & Value (US$ Mn), Analysis & Forecast, 2010?2030
12.1. U.S. Three-wheeler Vehicle Market
12.1.1. By Fuel Type
12.1.2. By Usage
12.1.3. By Configuration
12.1.4. By Power Output
12.1.5. By Engine Location
12.2. Canada Three-wheeler Vehicle Market
12.2.1. By Fuel Type
12.2.2. By Usage
12.2.3. By Configuration
12.2.4. By Power Output
12.2.5. By Engine Location
12.3. Mexico Three-wheeler Vehicle Market
12.3.1. By Fuel Type
12.3.2. By Usage
12.3.3. By Configuration
12.3.4. By Power Output
12.3.5. By Engine Location
12.4. Brazil Three-wheeler Vehicle Market
12.4.1. By Fuel Type
12.4.2. By Usage
12.4.3. By Configuration
12.4.4. By Power Output
12.4.5. By Engine Location
12.5. Argentina Three-wheeler Vehicle Market
12.5.1. By Fuel Type
12.5.2. By Usage
12.5.3. By Configuration
12.5.4. By Power Output
12.5.5. By Engine Location
12.6. Rest of Americas Three-wheeler Vehicle Market
12.6.1. By Fuel Type
12.6.2. By Usage
12.6.3. By Configuration
12.6.4. By Power Output
12.6.5. By Engine Location
12.7. U.K. Three-wheeler Vehicle Market
12.7.1. By Fuel Type
12.7.2. By Usage
12.7.3. By Configuration
12.7.4. By Power Output
12.7.5. By Engine Location
12.8. France Three-wheeler Vehicle Market
12.8.1. By Fuel Type
12.8.2. By Usage
12.8.3. By Configuration
12.8.4. By Power Output
12.8.5. By Engine Location
12.9. Germany Three-wheeler Vehicle Market
12.9.1. By Fuel Type
12.9.2. By Usage
12.9.3. By Configuration
12.9.4. By Power Output
12.9.5. By Engine Location
12.10. Italy Three-wheeler Vehicle Market
12.10.1. By Fuel Type
12.10.2. By Usage
12.10.3. By Configuration
12.10.4. By Power Output
12.10.5. By Engine Location
12.11. Spain Three-wheeler Vehicle Market
12.11.1. By Fuel Type
12.11.2. By Usage
12.11.3. By Configuration
12.11.4. By Power Output
12.11.5. By Engine Location
12.12. Turkey Three-wheeler Vehicle Market
12.12.1. By Fuel Type
12.12.2. By Usage
12.12.3. By Configuration
12.12.4. By Power Output
12.12.5. By Engine Location
12.13. Rest of Europe Three-wheeler Vehicle Market
12.13.1. By Fuel Type
12.13.2. By Usage
12.13.3. By Configuration
12.13.4. By Power Output
12.13.5. By Engine Location
12.14. China Three-wheeler Vehicle Market
12.14.1. By Fuel Type
12.14.2. By Usage
12.14.3. By Configuration
12.14.4. By Power Output
12.14.5. By Engine Location
12.15. India Three-wheeler Vehicle Market
12.15.1. By Fuel Type
12.15.2. By Usage
12.15.3. By Configuration
12.15.4. By Power Output
12.15.5. By Engine Location
12.16. Japan Three-wheeler Vehicle Market
12.16.1. By Fuel Type
12.16.2. By Usage
12.16.3. By Configuration
12.16.4. By Power Output
12.16.5. By Engine Location
12.17. Australia Three-wheeler Vehicle Market
12.17.1. By Fuel Type
12.17.2. By Usage
12.17.3. By Configuration
12.17.4. By Power Output
12.17.5. By Engine Location
12.18. New Zealand Three-wheeler Vehicle Market
12.18.1. By Fuel Type
12.18.2. By Usage
12.18.3. By Configuration
12.18.4. By Power Output
12.18.5. By Engine Location
12.19. ASEAN Three-wheeler Vehicle Market
12.19.1. By Fuel Type
12.19.2. By Usage
12.19.3. By Configuration
12.19.4. By Power Output
12.19.5. By Engine Location
12.19.6. By Country
12.19.6.1. Indonesia
12.19.6.2. Malaysia
12.19.6.3. Myanmar
12.19.6.4. Thailand
12.19.6.5. Vietnam
12.19.6.6. Other ASEAN Countries
12.20. Syria Three-wheeler Vehicle Market
12.20.1. By Fuel Type
12.20.2. By Usage
12.20.3. By Configuration
12.20.4. By Power Output
12.20.5. By Engine Location
12.21. GCC Three-wheeler Vehicle Market
12.21.1. By Fuel Type
12.21.2. By Usage
12.21.3. By Configuration
12.21.4. By Power Output
12.21.5. By Engine Location
12.21.6. By Country
12.21.6.1. Saudi Arabia
12.21.6.2. UAE
12.21.6.3. Other GCC Countries
12.22. Jordan Three-wheeler Vehicle Market
12.22.1. By Fuel Type
12.22.2. By Usage
12.22.3. By Configuration
12.22.4. By Power Output
12.22.5. By Engine Location
12.23. Israel Three-wheeler Vehicle Market
12.23.1. By Fuel Type
12.23.2. By Usage
12.23.3. By Configuration
12.23.4. By Power Output
12.23.5. By Engine Location
12.24. South Africa Three-wheeler Vehicle Market
12.24.1. By Fuel Type
12.24.2. By Usage
12.24.3. By Configuration
12.24.4. By Power Output
12.24.5. By Engine Location
12.25. Zimbabwe Three-wheeler Vehicle Market
12.25.1. By Fuel Type
12.25.2. By Usage
12.25.3. By Configuration
12.25.4. By Power Output
12.25.5. By Engine Location
12.26. Kenya Three-wheeler Vehicle Market
12.26.1. By Fuel Type
12.26.2. By Usage
12.26.3. By Configuration
12.26.4. By Power Output
12.26.5. By Engine Location
12.27. Egypt Three-wheeler Vehicle Market
12.27.1. By Fuel Type
12.27.2. By Usage
12.27.3. By Configuration
12.27.4. By Power Output
12.27.5. By Engine Location
12.28. Tanzania Three-wheeler Vehicle Market
12.28.1. By Fuel Type
12.28.2. By Usage
12.28.3. By Configuration
12.28.4. By Power Output
12.28.5. By Engine Location
12.29. Rest of Africa Three-wheeler Vehicle Market
12.29.1. By Fuel Type
12.29.2. By Usage
12.29.3. By Configuration
12.29.4. By Power Output
12.29.5. By Engine Location
13. Competitive Landscape
13.1. Company Analysis for each player
13.1.1. Company Overview
13.1.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.1.3. Manufacturing Locations
13.1.4. Three-wheeler Vehicle Customers (OEM)
13.1.5. Production Capacities
13.1.6. Market Share
13.1.7. Product Portfolio (Application/ Size)
13.2. Company Profile/ Key Players
13.2.1. Bajaj Auto Limited
13.2.1.1. Company Overview
13.2.1.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.1.3. Manufacturing Locations
13.2.1.4. Three-wheeler Vehicle Customers (OEM)
13.2.1.5. Production Capacities
13.2.1.6. Market Share
13.2.1.7. Product Portfolio (Application/ Size)
13.2.2. Mahindra & Mahindra Ltd
13.2.2.1. Company Overview
13.2.2.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.2.3. Manufacturing Locations
13.2.2.4. Three-wheeler Vehicle Customers (OEM)
13.2.2.5. Production Capacities
13.2.2.6. Market Share
13.2.2.7. Product Portfolio (Application/ Size)
13.2.3. Piaggio Vehicles Private Ltd
13.2.3.1. Company Overview
13.2.3.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.3.3. Manufacturing Locations
13.2.3.4. Three-wheeler Vehicle Customers (OEM)
13.2.3.5. Production Capacities
13.2.3.6. Market Share
13.2.3.7. Product Portfolio (Application/ Size)
13.2.4. Scooters India Ltd
13.2.4.1. Company Overview
13.2.4.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.4.3. Manufacturing Locations
13.2.4.4. Three-wheeler Vehicle Customers (OEM)
13.2.4.5. Production Capacities
13.2.4.6. Market Share
13.2.4.7. Product Portfolio (Application/ Size)
13.2.5. Terra Motors Corporation
13.2.5.1. Company Overview
13.2.5.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.5.3. Manufacturing Locations
13.2.5.4. Three-wheeler Vehicle Customers (OEM)
13.2.5.5. Production Capacities
13.2.5.6. Market Share
13.2.5.7. Product Portfolio (Application/ Size)
13.2.6. TVS Motor Company
13.2.6.1. Company Overview
13.2.6.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.6.3. Manufacturing Locations
13.2.6.4. Three-wheeler Vehicle Customers (OEM)
13.2.6.5. Production Capacities
13.2.6.6. Market Share
13.2.6.7. Product Portfolio (Application/ Size)
13.2.7. Hero Electric Vehicles Pvt Ltd
13.2.7.1. Company Overview
13.2.7.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.7.3. Manufacturing Locations
13.2.7.4. Three-wheeler Vehicle Customers (OEM)
13.2.7.5. Production Capacities
13.2.7.6. Market Share
13.2.7.7. Product Portfolio (Application/ Size)
13.2.8. Lohia Auto Industries
13.2.8.1. Company Overview
13.2.8.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.8.3. Manufacturing Locations
13.2.8.4. Three-wheeler Vehicle Customers (OEM)
13.2.8.5. Production Capacities
13.2.8.6. Market Share
13.2.8.7. Product Portfolio (Application/ Size)
13.2.9. Force Motors
13.2.9.1. Company Overview
13.2.9.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.9.3. Manufacturing Locations
13.2.9.4. Three-wheeler Vehicle Customers (OEM)
13.2.9.5. Production Capacities
13.2.9.6. Market Share
13.2.9.7. Product Portfolio (Application/ Size)
13.2.10. Atul Auto Limited
13.2.10.1. Company Overview
13.2.10.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.10.3. Manufacturing Locations
13.2.10.4. Three-wheeler Vehicle Customers (OEM)
13.2.10.5. Production Capacities
13.2.10.6. Market Share
13.2.10.7. Product Portfolio (Application/ Size)
13.2.11. Mahindra Electric Mobility
13.2.11.1. Company Overview
13.2.11.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.11.3. Manufacturing Locations
13.2.11.4. Three-wheeler Vehicle Customers (OEM)
13.2.11.5. Production Capacities
13.2.11.6. Market Share
13.2.11.7. Product Portfolio (Application/ Size)
13.2.12. JSA Corporation
13.2.12.1. Company Overview
13.2.12.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.12.3. Manufacturing Locations
13.2.12.4. Three-wheeler Vehicle Customers (OEM)
13.2.12.5. Production Capacities
13.2.12.6. Market Share
13.2.12.7. Product Portfolio (Application/ Size)
13.2.13. MW Industries Inc.
13.2.13.1. Company Overview
13.2.13.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.13.3. Manufacturing Locations
13.2.13.4. Three-wheeler Vehicle Customers (OEM)
13.2.13.5. Production Capacities
13.2.13.6. Market Share
13.2.13.7. Product Portfolio (Application/ Size)
13.2.14. Tata Motors
13.2.14.1. Company Overview
13.2.14.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.14.3. Manufacturing Locations
13.2.14.4. Three-wheeler Vehicle Customers (OEM)
13.2.14.5. Production Capacities
13.2.14.6. Market Share
13.2.14.7. Product Portfolio (Application/ Size)
13.2.15. Jiangsu Kingbon Vehicle Co. Ltd.
13.2.15.1. Company Overview
13.2.15.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.15.3. Manufacturing Locations
13.2.15.4. Three-wheeler Vehicle Customers (OEM)
13.2.15.5. Production Capacities
13.2.15.6. Market Share
13.2.15.7. Product Portfolio (Application/ Size)
13.2.16. Changzhou Yufeng Vehicle Co. Ltd.
13.2.16.1. Company Overview
13.2.16.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.16.3. Manufacturing Locations
13.2.16.4. Three-wheeler Vehicle Customers (OEM)
13.2.16.5. Production Capacities
13.2.16.6. Market Share
13.2.16.7. Product Portfolio (Application/ Size)
13.2.17. Xianghe Qiangsheng Electric Tricycle Factory
13.2.17.1. Company Overview
13.2.17.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.17.3. Manufacturing Locations
13.2.17.4. Three-wheeler Vehicle Customers (OEM)
13.2.17.5. Production Capacities
13.2.17.6. Market Share
13.2.17.7. Product Portfolio (Application/ Size)
13.2.18. Jiangsu East Yonsland Vehicle Manufacturing Co.
13.2.18.1. Company Overview
13.2.18.2. Three-wheeler Vehicle Turnover (in USD Mn)
13.2.18.3. Manufacturing Locations
13.2.18.4. Three-wheeler Vehicle Customers (OEM)
13.2.18.5. Production Capacities
13.2.18.6. Market Share
13.2.18.7. Product Portfolio (Application/ Size)
13.2.19. Other Key Players
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers