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Electric Three-Wheeler Market Trends

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

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Electric Three-Wheeler Market Trends

The cost-effectiveness of electric three-wheelers is a major industry driver. Electric three-wheelers are an economical form of transportation as they have lower operating costs than conventional three-wheelers. Customers are opting for electric three-wheelers due to the rising costs of fuel and maintenance of traditional three-wheelers. The increased demand for last-mile connectivity, particularly in densely populated areas, makes electric three-wheelers an ideal solution. The need for effective & affordable last-mile connectivity solutions has grown with the expansion of e-commerce and online deliveries.

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.