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.
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
Increase in fuel cost
High cost of battery
Growing trend of shared mobility
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/
Laura Wood, Senior Press Manager
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