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Insights on the Three-Wheeler Global Market to 2028 - by Fuel Type, Vehicle Type and Region - ResearchAndMarkets.com

·3 min read

DUBLIN, October 19, 2021--(BUSINESS WIRE)--The "Three-Wheeler Market by Fuel Type and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

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 suits 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.

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.

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.

Market Dynamics

Drivers

  • Inclination toward use of electric three-wheeler as an eco-friendly & efficient solution for commute

  • Growing trend of last mile connectivity

  • Increasing demand for affordable commercial vehicle

  • Greater availability of credit and financing options

Restraints

  • Increase in fuel cost

  • High cost of battery

Opportunities

  • Growing trend of shared mobility

Companies Mentioned

  • 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

  • TVS Motor Company

For more information about this report visit https://www.researchandmarkets.com/r/wnyqhd

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019006022/en/

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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

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