Global Electric Three Wheelers Market Research Report: Information by Type (Passenger Carrier and Goods Carriers), Battery Type (Lithium Ion and Lead Acid), Battery Capacity (< 1,000 W and >1,000 W) and Region (North America, Europe, Asia-Pacific and the Rest of the World) – Forecast till 2025
The electric three wheeler uses energy stored in its rechargeable batteries, which are recharged by common household electricity. An electric three-wheeler is powered exclusively by electricity. The low ownership cost, environmental regulations, and declining battery prices. are the factors expected to boost the global electric three wheelers market during the forecast period. Furthermore, government support and subsidies, the entry of new manufacturing companies in the market and the need for alternative transport system to curb vehicular emissions are expected to fuel the growth of the electric three wheelers market during the forecast period.
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Prominent Players
The Prominent Players in the global electric three wheelers market are Terra Motors Corporation (Japan), Changzhou Yufeng Vehicle Co. Ltd. (China), Xianghe Qiangsheng Electric Tricycle Factory (China), Jiangsu Kingbon Vehicle Co. Ltd. (China), Hero Electric Vehicles Pvt. Ltd. (India), Clean Motion (Sweden), Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd. (China), Kinetic Green Energy & Power Solutions Ltd. (India), Electrotherm Limited (India), Piaggio & C. SpA (Italy), Mahindra & Mahindra Limited (India), Saera Electric Auto Pvt. Ltd. (India), ATUL Auto Ltd. (India), and Lohia Auto Industries (India).
Electric Three Wheeler Market Synopsis:
The electric 3 wheelers use electricity as a transportation fuel to power battery electric vehicles (EVs) by using one or more electric motors for propulsion as the motion is enabled by wheels or propellers driven by rotary motors, or in the case of tracked vehicles, by linear motors. In terms of air pollution and greenhouse gas emissions, electric tricycle are often cleaner than even the most efficient conventional vehicles as the electric three wheeler creates less pollution than gasoline-powered three wheelers. The global electric three wheelers market is expected to witness 20.35% CAGR during the forecast period, 2019-2025.
Industry News
- In 2019, Piaggio & C. SpA (Italy), announced to invest USD 30-45 million in India over three years on product and technology development, including the launch of a fully electric three-wheeler in the December quarter of 2019.
- In 2018, Lohia Auto Industries (India) launched Electric Hi-Speed Auto Comfort E-Auto HS. The Comfort E-Auto HS is powered by a lithium-ion battery, which can run at a speed of 30 km/h, having been designed and developed indigenously by the company’s R&D team.
- In 2018, 10.14. Mahindra & Mahindra Limited (India) launched electric three-wheeler, opens EV tech plant in Bengaluru
- In 2019, KSL Cleantech (India), formerly known as Kirti Solar Limited, planning to launch 10 electric two- and three-wheelers in India, within the next 12 months.
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