Press release
Electric Three-Wheeler Market by Consumption Volume, Growing Trend and Growth Forecast 2021-2026| Mahindra Electric, Piaggion and C. Spa, Bodo Vehicle Group Co. Ltd
Latest research on Electric Three-Wheeler Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Electric Three-Wheeler market. This report included a special section on the Impact of COVID19. Also, Electric Three-Wheeler Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Electric Three-Wheeler industry.Electric Three-Wheeler market is growing at a CAGR of 9% during the forecast period (2021-2026).
The Electric Three-Wheeler market is highly competitive and consists of a number of major players. Top Companies like Mahindra Electric, Piaggion and C. Spa, Bodo Vehicle Group Co. Ltd, Kinetic Green Energy and Power Solutions Ltd, Terra Motors Corporation, Lohia Auto Industries, E-Tuk Factory BV, Goenka Electric Motor Vehicles Pvt. Ltd, Omega Seiki Private Limited, ATUL Auto Limited
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Industry News And Developments:
- In February 2020, Omega Seiki Private Limited introduced Singha and Singha Max which runs on electric power to cater to the needs of the B2B and e-commerce industry.
- In December 2019, Piaggio launched Ape electric three wheeler in India, with swappable Lithium-ion battery and offers a range of around 70-80 km on a single charge
Scope of the Report
- The market is primarily driven by the factors such as strict government norm for pollution control, increasing awareness about harmful effects of emissions from gasoline and diesel vehicles and increase in adoption of electric vehicles.
- The average cost of operation and maintenance of electric three-wheelers are substantially low as compared to conventional three-wheelers.
- However, the low range of distance covered, and heavy battery pack are the areas of concern for the manufacturers of three-wheeler vehicles. As an electric three-wheeler covers around 125-130 kms with full charged battery as compared to 200-220 Kms covered by conventional vehicles on a full tank of fuel.
Browse the Full report description and TOC at:
https://www.marketinsightsreports.com/reports/10192354090/electric-three-wheeler-market-growth-trends-and-forecasts-2020-2025?Mode=VIIIXX
Key Market Trends
Increasing Focus on Emission Control Driving the Market
Several low- and middle-income countries in the world have a high rate of usage of three-wheelers, which were traditionally powered by IC engines. However, many of these internal combustion engine three-wheelers are old and inefficient, thus, emitting substantial amounts of particulate matter (PM) and black carbon (BC), a potent short-lived pollutant. The growing emission control norms have propelled the manufacturers to increase their expenditure on RandD of electric three-wheelers, which eventually allowed them to market them as the future of intracity mobility.
Asia-Pacific Will Lead the Market
Over the past few years, the Asia-Pacific region has turned out to be an emerging market for electric three-wheeler. During the year 2018-19, when all other auto segment witnessed a slow demand growth as compared to previous year, sales of electric three-wheeler segment grew around 21 per cent from 2017-18 sales of electric three wheelers in the country.
The Governments in the region are also taking measures to reduce pollution in the region. For instance,
- In December 2019, the government of India announced the phase-II of FAME India scheme, which focus on supporting electrification of public and shared transportation, and aims to support e-buses, e-3 wheelers through incentives.
- In Thaniland, The Energy Conservation Fund (ECF) has approved a subsidy of THB 106 million, to motivate tuk-tuk owners to move from liquefied petroleum gas (LPG) to Electric ones.
What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Electric Three-Wheeler Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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