According to TechSci Research
report “Global
Three-Wheeler Market By Vehicle Type (Passenger Carrier Vs. Load Carrier),
By Fuel Type (Petrol/CNG, Diesel & Electric), By Region (Asia-Pacific, Africa, South America, Rest of the
World), Competition Forecast & Opportunities, 2026”, Global Three-Wheeler Market is estimated to reach around a
total of USD11.68 billion by 2026. Growth in the Global
Three-Wheeler Market can be attributed to the increasing number of Micro, Small
& Medium Enterprises (MSME’s) across the globe, improving road
infrastructure and cheap fares of three-wheelers as compared to other forms of
transportation to commute within the city. The increase in population of middle-income group, improving
living standards of the people and growing tourism across the globe are booming
the demand for three-wheelers across the globe. According to the International
Tourism Highlights 2019 Edition report, published by the United Nations World
Tourism Organization, the Asia and the Pacific region accounts for 25% of global
tourist arrivals. Majority of these tourists visited South-East Asian countries,
particularly countries like India, China, Sri-Lanka, Indonesia, etc. Moreover,
in these countries three-wheelers are the most favorable means of local
transportation. The reason for growing popularity of three-wheelers for
commuting within the cities can be attributed to the fact that three-wheelers
in these countries are present in abundance and provide easy accessibility and
have cheap fares as compared to other means of transportation. Apart from the
growing tourism, increasing popularity of electric-three wheelers in the world
and continuously improving road infrastructure are also contributing to the
growth of the Global Three-Wheelers Market. With growing
technological advancements due to increasing awareness about the usage of
smartphone apps & web applications, a recent trend has been witnessed in
the three-wheeler market of Asian countries. Cab companies in conjunction with
radio taxis have also started providing online three-wheeler booking services
to customers. Earlier, this booking was limited to four-wheeler cabs and taxis,
but due to the wide presence of three-wheelers in these countries, companies
have started giving customers an easy
on-click booking of three-wheelers via smartphones and personal
computing devices for traveling short distances within cities. As a result, the
Global Three-Wheeler market has huge penetration of three-wheelers in Radio
Taxi Market. Owing to increasing number of Micro, Small
& Medium Enterprises (MSME’s), growing demand for Electric Three-Wheelers,
continuously improving road infrastructure, the Global Three-Wheeler Market is
anticipated to grow with a CAGR of 5.22% in terms of units sold in the forecast
years.
In 2020,
three-wheelers sales declined in comparison to 2019 as countries around the
world underwent strict lockdown in the second and third quarter of 2020 as a
measure to counter the spread of the disease. The lockdown resulted in the
temporary closing down of all factories, including three-wheeler manufacturing
facilities, resulting in production loss of three-wheelers. Furthermore, the
governments of most of the COVID-19 affected countries implemented social
distancing norms that limited the number of workers working at any given point
in the same facility. Such measures hampered the workflow of three-wheeler
manufacturing facilities temporarily. As markets started to gradually open in
2020, the sales of three wheelers started to increase again, hence contributing
to the recovery of the Global Three-Wheeler market recovery in the fiscal
period 2021-2022.
Browse more than 103 market data Figures and 14
tables spread through 185 Pages and an in-depth TOC on “Global
Three-Wheeler Market."
https://www.techsciresearch.com/report/global-three-wheeler-market/1448.html
Global Three-Wheeler Market can be segmented on the basis of Vehicle
Type, Fuel Type, Company and By Region. The Global
Three-wheeler Market share based on Vehicle Type is divided into the Passenger
Carrier and Load Carrier, with Passenger Carrier holding the majority of market
share in Global Three-Wheeler Market in 2020. Asia-Pacific
accounts for the sale of maximum number of three wheelers around the world. The
high market share of Passenger Carrier can be attributed to the reason that
three-wheelers are used as the most common source of transportation within the
Asian countries compared to other means of transportation. Due to the
increasing number of small-scale businesses and growing global economy, sales
of Load Carrier three-wheelers is increasing at a brisk rate.
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According to TechSci Research Global Three-wheeler
Market based on fuel type is divided into Petrol/CNG, Diesel and Electric, with
three-wheelers powered by Petrol/CNG dominated the market with a share of
53.51% in terms of three-wheeler units sold across the globe in year 2020. Moreover,
owing to the worsening climatic conditions and increasing global temperatures
The Electric Three-Wheeler Market can be seen giving neck to neck competition
to the other fossil fuels based three-wheelers by 2026. Majority of electric
three-wheeler sales come from China, making China a global leader in terms of
electric three-wheelers sold across the globe.
Some of
the major players operating in Global
Three-Wheeler Market are Bajaj Auto Limited, Piaggio & C. S.p.A, Mahindra
& Mahindra Limited, TVS Motor Company Limited, Scooters India Limited, Atul
Auto Limited, etc. Companies like Kerala Automobiles Limited, Kumar Motor
Kinetic Green, Lohia, Goenka Electric Motors are
also increasing their marketing activities and enriching their product
portfolio to increase their customer outreach.
“In 2020, Asia-Pacific accounted for the largest share in terms of units
sold, i.e., 87.50% in Global Three-Wheeler Market. The region is expected to maintain its dominance over the next five years
as well. Growing demand of electrification in
three-wheelers and increasing number of Micro, Small & Medium Enterprises
(MSME’s) is boosting the demand for Three-Wheelers in the world.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based Global
management consulting firm.
According to TechSci Research Global Three-wheeler
Market “Global
Three-Wheeler Market, By Vehicle Type (Passenger Carrier Vs. Load Carrier), By
Fuel Type (Petrol/CNG, Diesel & Electric), By Region (Asia-Pacific, Africa,
South America, Rest of the World), Competition Forecast & Opportunities,
2026” has evaluated the future growth potential of Global
Three-Wheeler Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Three-Wheeler
Market.
India
Three-Wheeler Market By Vehicle Type (Passenger Carrier & Load Carrier), By
Fuel Type (ICE) (Diesel & Petrol/CNG), By Battery Capacity (Electric)
(<101 Ah & >101 Ah), By Region, Forecast & Opportunities, FY2016
– FY2026
www.techsciresearch.com/report/india-three-wheeler-market
Global Electric Bus Market By Seating Capacity (Up
to 30-Seater; 31-40 Seater; & Above 40), By Battery Type (Lead Acid &
Lithium Ion), By Application (Intercity; Intracity; & Airport Bus), By Bus
Length (6-8m; 9-12m; & Above 12m), By Region, Competition, Forecast &
Opportunities, 2026
www.techsciresearch.com/report/electric-bus-market
Global Electric & Hybrid Multi-Purpose Vehicle Market By Tonnage
Capacity (Up to 3.5 Ton & Above 3.5 Ton), By Fuel Type (Hybrid and
Electric), By End Use (Personal & Commercial), By Region, Competition
Forecast & Opportunities, 2026
www.techsciresearch.com/report/electric-and-hybrid-multi-purpose-vehicle-market
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