| Status : Published | Published On : Dec, 2023 | Report Code : VRAT4054 | Industry : Automotive & Transportation | Available Format :
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Page : 103 |
China Electric Three-Wheeler Market – Analysis and Forecast (2025-2030)
Industry Insigts by Product (E-rickshaw, E-auto, Others) By Type (Passenger Vehicle, Load Carrier), by Motor Power (<1,000 W, 1,000-1,500 W, >1,500 W)
Industry Overview
The Chinese Electric Three-Wheeler Market is predicted to grow at 13.1% CAGR during the forecast period, in terms of its fleet size. The Chinese market is primarily driven by increasing demand for electric rickshaws in metropolitan cities, government support and initiatives, and the presence of major electric three-wheeler manufacturers in the country.
Market Segmentation
Insight by Product
The electric three-wheeler market is further segmented into e-rickshaw, e-auto, and others. E-rickshaws are the most preferred three-wheeler category. E-rickshaws are the typical three-wheelers with a top speed of around 25km/hr. These are alternatives to conventional pull rickshaws with pedals and auto rickshaws. A typical e-rickshaw carries 4+1 or 3 passengers at a time.
Insight by Type
Based on type, the market is categorized into passenger vehicles and load carriers. Passenger vehicles hold a larger share of the market due to the increasing demand for the sustainable transport system in metropolitan cities in the country.
Insight by Motor Power
Based on motor power, the market is segmented into 1,500 W. Of all, 1,000-1,500 W powered three-wheelers hold the largest share in the Chinese market. The highest share of the 1,000-1,500 W powered three-wheelers in the market is due to the optimum performance and cost of the vehicle at this power.
Industry Dynamics
CHINA ELECTRIC THREE-WHEELERS MARKET HIGHLIGHT
The increasing demand for electric rickshaws in metropolitan cities, government support and initiatives, and the presence of major electric three-wheelers manufacturers in the country are the key factors fueling the demand for the electric three-wheelers market in China.
In China, a large population is dependent on public transport for their daily commute. Auto rickshaws are the major mode of transport in the major urban cities of the country. Auto rickshaw provides cheaper and faster intracity transport in these countries; therefore, a large population depends on it for transport. Although with a lower performance compared to conventional auto rickshaws, electric three-wheelers are still preferred for their low maintenance rate. Moreover, supported by government policies and subsidies manufacturers can provide these electric three-wheelers at competitive pricing, which further increases their adoption of these vehicles in the country.
Global China Electric Three-wheeler Market Report Coverage
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Report Metric |
Details |
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Historical Period |
2018 - 2023 |
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Base Year Considered |
2024 |
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Forecast Period |
2025 - 2030 |
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Market Size in 2023 |
U.S.D. Billion |
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Revenue Forecast in 2030 |
U.S.D. Billion |
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Growth Rate |
% |
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Segments Covered in the Report |
|
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Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
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Regions Covered in the Report |
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In recent years, China has built up an advanced infrastructure for the development of electric vehicles. Moreover, the supportive government regulations provide an opportunity to the manufacturers for the research and development of these vehicles. Increasing support from policymakers, full-scale research centers, and large manufacturing units are catering to the demand for electric three-wheelers within the country. Moreover, rapid urbanization and increase in disposable incomes are creating traction for the replacement of conventional vehicles by electric vehicles, thus, fueling the growth of the Chinese light electric vehicle market.
However, uncertain on-road regulations for electric three-wheelers in China are anticipated to hinder the growth of the market to some extent.
Competitive Insight
Jiangsu Kingbon Vehicle Co. Ltd., Changzhou Yufeng Vehicle Co. Ltd., Xianghe Qiangsheng Electric Tricycle Factory, and Jiangsu East YonslandVehicle Manufacturing Co. are some of the key players operating in the Chinese electric three-wheelers market.
The China Electric Three-Wheeler Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- Product
- E-rickshaw
- E-auto
- Others
- Type
- Passenger Vehicle
- Load Carrier
- Motor Power
- <1,000W
- 1,000-1,500W
- >1,500W
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China Electric Three-wheeler Market