DUBLIN--(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
