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Electric Three-Wheeler Market Size

  • Report ID: GMI5695
  • Published Date: May 2023
  • Report Format: PDF

Electric Three-Wheeler Market Size

Electric Three-Wheeler Market size surpassed over USD 30 billion in 2022 and is anticipated to grow at 16% CAGR from 2023 to 2032.


Additionally, governments across the globe are expanding their initiatives and education campaigns to lower GHG emissions from fuel-powered vehicles, thus propelling industry expansion. The governments have expanded the market by offering numerous subsidies and financial aid for the purchase of electric three-wheeler vehicles. The product demand is also being driven by rising investments in upgrading public charging infrastructure for electric three-wheelers. In addition, many ride-hailing companies are moving toward electric three-wheelers to offer their customers quiet & environmental-friendly rides.


The limited driving range of electric three wheelers and the inadequate charging infrastructure present serious obstacles to electric three-wheeler market expansion. The high initial cost of electric three-wheelers compared to conventional three-wheelers is another market barrier that makes it difficult for customers to switch to electric three-wheelers.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of electric three-wheeler market exceeded USD 30 billion in 2022 and will expand at 16% CAGR during 2023 to 2032, explains GMI report.

The 1,000 - 1,500W electric three-wheelers industry will record 18% growth during 2023-2032 owing to the new vehicle launches and developments in powertrains.

Asia Pacific is the dominant region in the electric three-wheeler business with over 95% share recorded in 2022 due to the presence of supportive government policies & rapidly expanding charging infrastructure.

Adapt Motors Pvt. Ltd., Altigreen, Atul Auto Limited, Bajaj Auto, Bodo Vehicle Group Co., Ltd., Champion Ploypast, Changzhou Yufeng Vehicle Co., Ltd., Dili Electric, Electrode, E-Tuk Factory, and Euler Motors, among others.

Electric Three-Wheeler Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 352
  • Countries covered: 23
  • Pages: 200
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