Three Wheeler Market 2020: Emerging Trends, Global Demand and Sales to 2027

1. Three Wheeler Market to 2027 Three Wheeler Market to 2027 - Global Analysis and Forecasts by Type (Passenger Carrier, Goods Carrier); Fuel Type (Diesel, Petrol, CNG, LPG, Electric) The global Three Wheeler market accounted for USD 48,241.1 thousand in 2018 and is expected to grow at a CAGR of 4.0% during the forecast period 2019 - 2027, to account to USD 68,222.4 thousand by 2027.

2. Three Wheeler Market to 2027 - Global Analysis and Forecasts by Type (Passenger Carrier, Goods Carrier); Fuel Type (Diesel, Petrol, CNG, LPG, Electric) Three wheeler passenger carriers are three-wheelers used for transportation of passengers. A minimum of three and a maximum of five-six passengers can travel by three wheelers passenger carriers. In rural areas, more than six passengers travel by three-wheeler passenger carriers as per requirement. E-rickshaw is one of the main types of three wheelers. E-rickshaws run on battery and are eco-friendly vehicles and produce vehicular emission and less noise in comparison with conventional three wheelers. E-rickshaws can carry five-six passengers for transportation. Increasing demand for electric three wheelers, and increasing population, and increasing need for a vehicle that helps in traffic congestion in the region have been bolstering the growth of the global three wheelers market.

3. Three Wheeler Market to 2027 - Global Analysis and Forecasts by Type (Passenger Carrier, Goods Carrier); Fuel Type (Diesel, Petrol, CNG, LPG, Electric) Market Insights The increasing demand for eco-friendly three wheelers is propelling the growth of the market The automotive industry across the world is constantly experiencing the rise in the number of several new three-wheeler manufacturers. The three-wheeler manufacturers are continuously eyeballing on the development of the electric three-wheeler segment as the section is attracting the interest of the customers globally. The global automotive industry is experiencing a significant shift from traditional three-wheelers to electric three-wheelers. Governments in various countries are taking the initiative for the adoption of electric three-wheelers. For instance, in March 2018, the Ministry of Heavy Industries & Public Enterprises, India, launched Phase-II of the FAME India Scheme, which was initiated on 1st April 2019 for next three years, with total budgetary support of US$ 1.39 billion. This phase is launched to mainly support the electrification of public & shared transportation and aims to support through subsidies 7000 e-Buses, 5 lakh e-3 Wheelers, 55000 e-4 Wheeler Passenger Cars, and 10 lakh e-2 Wheelers. 

4. Three Wheeler Market to 2027 - Global Analysis and Forecasts by Type (Passenger Carrier, Goods Carrier); Fuel Type (Diesel, Petrol, CNG, LPG, Electric) Type Insights In type segment, passenger carrier captured the largest share in the global three wheeler market. The passenger carrier is the cheapest transport vehicles that can be afforded by various private transport operators and by individuals whose earning is from transport jobs. The growth of the segment is driven by the increasing demand for low-cost passenger carriers such as lack of proper roads, three-wheelers are mainly due to inadequate transportation facilities, and urban areas with heavy traffic congestions.

5. Three Wheeler Market to 2027 - Global Analysis and Forecasts by Type (Passenger Carrier, Goods Carrier); Fuel Type (Diesel, Petrol, CNG, LPG, Electric) Strategic Insights Market initiative is a strategy adopted by companies to expand their footprint across the world and to meet the growing customer demand. The market players present in the three wheeler market are mainly focusing on product and service enhancements by integrating advanced features and technologies. By signing partnerships, contracts, joint ventures, and inaugurating new offices across the world, companies are trying to increase their market share and brand presence. Most of the market initiatives were observed in the Asia Pacific region, which have a high potential for future market growth. Few of them are listed below; 2019: In December 2019, Greaves Cotton announced a partnership with TVS Motor Company. Under this partnership, Greaves Cotton would act as an authorized service center for TVS Motor’s three-wheelers in India.

6. Three Wheeler Market to 2027 - Global Analysis and Forecasts by Type (Passenger Carrier, Goods Carrier); Fuel Type (Diesel, Petrol, CNG, LPG, Electric) • Global Three Wheeler Market – By Type • Passenger Carrier • Goods Carrier • Global Three Wheeler Market – By Fuel type • Diesel • Petrol • CNG • LPG • Electric • Company Profiles • ATUL Auto Limited • Bajaj Auto Ltd. • J.S. AUTO (P) LTD. • Mahindra & Mahindra Ltd. • Piaggio & C. SpA • Scooters India Limited • Speego Vehicles Co Pvt Limited • Terra Motors Corporation • TVS Motor Company • XiangheQiangsheng Electric Tricycle Factory

7. Three Wheeler Market to 2027 - Global Analysis and Forecasts by Type (Passenger Carrier, Goods Carrier); Fuel Type (Diesel, Petrol, CNG, LPG, Electric) Thank You Email :sales@theinsightpartners.com Phone : +1-646-491-9876