Asia Electric Three-wheeler Market – Analysis and Forecast (2021-2027)

Industry Insights 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 Asian electric three-wheeler market is predicted to grow at 12.6% CAGR during the forecast period with its fleet size reaching 19.3 million units by 2027. The Asian market is primarily driven by increasing awareness regarding the usage of electric vehicles, technological advancements, and increasing government support and initiatives. The increasing demand for low or no-emission vehicles for public transport supports the growth of the electric-three wheelers market in Asia.

Market Segmentation

Insight by Product

Based on product, electric three-wheelers market is 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 rickshaw 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 in the market due to the increasing demand for the sustainable transport system in metropolitan cities of different countries in the region.

Insight by Motor Power

On the basis of motor power, the market is segmented into1,500 W. Of all, 1,000-1,500 W powered three-wheelers hold the largest share in the Asian 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

ASIA ELECTRIC THREE-WHEELERS MARKET HIGHLIGHT

The increasing awareness regarding the usage of electric vehicles, technological advancements, and increasing government support and initiatives are the key factor fueling the demand for the electric-three wheelers market in Asia.

For instance, in 2018, Indian government confirmed subsidies for all type of electric vehicles. Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles II (FAMEII) scheme has been finalized in April this year. As per the scheme, the government will invest INR 5,500 crores (~ USD 784 million) in the next five years. The governing panel decided that the subsidiary will be provided for all kinds of electric vehicles including light electric vehicles.

As per the scheme, the government will provide incentives of INR 1,800 to INR 29,000 (~USD 24 to USD 390) for battery operated electric scooters and motorcycles and INR 3.300 to INR 61,000 (~USD 44 to USD 820) for electric three-wheelers. The Indian government is ready to invest around 1.3 billion USD for the rollout of FAME II scheme.

Moreover, the lower maintenance requirement of electric three-wheelers also supports the growth of the Asian market. Conventional autorickshaw owners are adopting these e-rickshaw and e-auto for public transport as it saves the cost of maintenance. The consumer finds these vehicles efficient especially for intracity transport as these are best suited for low range travels.

Competitive Insight

Jiangsu Kingbon Vehicle Co. Ltd., Changzhou Yufeng Vehicle Co. Ltd., ATUL Auto Ltd., Xianghe Qiangsheng Electric Tricycle Factory, Kinetic Green Energy & Power Solutions Ltd., Lohia Auto Industries, Terra Motors Corporation, and Jiangsu East YonslandVehicle Manufacturing Co. are some of the key players operating in the Asian electric three-wheelers market.

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

1. Research Overview

1.1.  The Report Offers

1.2.  Market Coverage

1.2.1. By Product

1.2.3. By Type

1.2.2. By Motor Power

1.2.3. By Country

1.3.  Research Phases

1.4.  Limitations

1.5.  Market Size Estimations and Forecast

1.5.1. Data Sources

1.5.1.1. Primary Research

1.5.1.2. Secondary Research

1.5.2. Methodology

1.5.2.1. Data Exploration

1.5.2.2. Forecast Parameters

1.5.2.3. Data Validation

1.5.2.4. Assumptions

1.5.3. Study Period & Data Reporting Unit

2. Executive Summary

3. Market Definition

3.1.  By Product

3.1.1. E-Rickshaw

3.1.2. E-Auto

3.1.3. Others

3.2.  By Type

3.2.1. Passenger Vehicles

3.2.2. Load Carriers

3.3.  By Motor Power

3.3.1. <1,000W

3.3.2. 1,000-1,500W

3.3.3. >1,500W

4. Industry Overview

4.1.  Industry Dynamics

4.1.1. Major Drivers

4.1.2. Major Restraints

4.1.3. Key Trends

4.1.4. Key Opportunities

4.2.  Industry Ecosystem

4.2.1. Value Chain Analysis

4.2.2. Regulatory Framework

4.3.  Competitive Insight

4.3.1. Competitive Analysis of Key Players

4.3.2. Market Attractive Analysis

5. Asia Market Estimate and Forecast

5.1.  By Product

5.2.  By Type

5.3.  By Motor Power

5.4.  By Country

6. China Market Estimate and Forecast

6.1.  By Product

6.2.  By Type

6.3.  By Motor Power

7. India Market Estimate and Forecast

7.1.  By Product

7.2.  By Type

7.3.  By Motor Power

8. Indonesia Market Estimate and Forecast

8.1.  By Product

8.2.  By Type

8.3.  By Motor Power

9. Thailand Market Estimate and Forecast

9.1.  By Product

9.2.  By Type

9.3.  By Motor Power

10.  Malaysia Market Estimate and Forecast

10.1. By Product

10.2. By Motor Power

10.3. By Motor Power

11.  Philippines Market Estimate and Forecast

11.1. By Product

11.2. By Type

11.3. By Motor Power

12.  Vietnam Market Estimate and Forecast

12.1. By Product

12.2. By Motor Power

12.3. By Motor Power

13.  Company Profiles

13.1. Jiangsu Kingbon Vehicle Co. Ltd.

13.1.1.  Snapshot

13.1.2.  Overview

13.1.3.  Offerings

13.1.4.  Financial Insight

13.1.5.  Recent Developments

13.2. Changzhou Yufeng Vehicle Co. Ltd.

13.2.1.  Snapshot

13.2.2.  Overview

13.2.3.  Offerings

13.2.4.  Financial Insight

13.2.5.  Recent Developments

13.3. ATUL Auto Ltd.

13.3.1.  Snapshot

13.3.2.  Overview

13.3.3.  Offerings

13.3.4.  Financial Insight

13.3.5.  Recent Developments

13.4. Xianghe Qiangsheng Electric Tricycle Factory

13.4.1.  Snapshot

13.4.2.  Overview

13.4.3.  Offerings

13.4.4.  Financial Insight

13.4.5.  Recent Developments

13.5. Kinetic Green Energy & Power Solutions Ltd.

13.5.1.  Snapshot

13.5.2.  Overview

13.5.3.  Offerings

13.5.4.  Financial Insight

13.5.5.  Recent Developments

13.6. Lohia Auto Industries

13.6.1.  Snapshot

13.6.2.  Overview

13.6.3.  Offerings

13.6.4.  Financial Insight

13.6.5.  Recent Developments

13.7. Terra Motors Corporation

13.7.1.  Snapshot

13.7.2.  Overview

13.7.3.  Offerings

13.7.4.  Financial Insight

13.7.5.  Recent Developments

13.8. Jiangsu East Yonsland Vehicle Manufacturing Co.

13.8.1.  Snapshot

13.8.2.  Overview

13.8.3.  Offerings

13.8.4.  Financial Insight

13.8.5.  Recent Developments

14.  Appendix

14.1. Exchange Rates

14.2. Abbreviations

Note: Financial insights and recent developments are subject to availability of information in secondary domain.

List of Tables

Table 1 Sources

Table 2 Study Periods

Table 3 Data Reporting Unit

Table 4 Asia Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2020)

Table 5 Asia Electric Three-Wheeler Market Size, By Product, ‘000 Units (2021 – 2027)

Table 6 Asia Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2020)

Table 7 Asia Electric Three-Wheeler Market Size, By Product, USD Million (2021 – 2027)

Table 8 Asia Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2020)

Table 9 Asia Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2021 – 2027)

Table 10 Asia Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2020)

Table 11 Asia Electric Three-Wheeler Market Size, By Motor Power, USD Million (2021 – 2027)

Table 12 Asia Electric Three-Wheeler Market Size, By Country, ‘000 Units (2015 – 2020)

Table 13 Asia Electric Three-Wheeler Market Size, By Country, ‘000 Units (2021 – 2027)

Table 14 Asia Electric Three-Wheeler Market Size, By Country, USD Million (2015 – 2020)

Table 15 Asia Electric Three-Wheeler Market Size, By Country, USD Million (2021 – 2027)

Table 16 China Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2020)

Table 17 China Electric Three-Wheeler Market Size, By Product, ‘000 Units (2021 – 2027)

Table 18 China Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2020)

Table 19 China Electric Three-Wheeler Market Size, By Product, USD Million (2021 – 2027)

Table 20 China Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2020)

Table 21 China Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2021 – 2027)

Table 22 China Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2020)

Table 23 China Electric Three-Wheeler Market Size, By Motor Power, USD Million (2021 – 2027)

Table 24 India Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2020)

Table 25 India Electric Three-Wheeler Market Size, By Product, ‘000 Units (2021 – 2027)

Table 26 India Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2020)

Table 27 India Electric Three-Wheeler Market Size, By Product, USD Million (2021 – 2027)

Table 28 India Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2020)

Table 29 India Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2021 – 2027)

Table 30 India Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2020)

Table 31 India Electric Three-Wheeler Market Size, By Motor Power, USD Million (2021 – 2027)

Table 32 Indonesia Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2020)

Table 33 Indonesia Electric Three-Wheeler Market Size, By Product, ‘000 Units (2021 – 2027)

Table 34 Indonesia Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2020)

Table 35 Indonesia Electric Three-Wheeler Market Size, By Product, USD Million (2021 – 2027)

Table 36 Indonesia Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2020)

Table 37 Indonesia Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2021 – 2027)

Table 38 Indonesia Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2020)

Table 39 Indonesia Electric Three-Wheeler Market Size, By Motor Power, USD Million (2021 – 2027)

Table 40 Malaysia Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2020)

Table 41 Malaysia Electric Three-Wheeler Market Size, By Product, ‘000 Units (2021 – 2027)

Table 42 Malaysia Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2020)

Table 43 Malaysia Electric Three-Wheeler Market Size, By Product, USD Million (2021 – 2027)

Table 44 Malaysia Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2020)

Table 45 Malaysia Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2021 – 2027)

Table 46 Malaysia Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2020)

Table 47 Malaysia Electric Three-Wheeler Market Size, By Motor Power, USD Million (2021 – 2027)

Table 48 Thailand Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2020)

Table 49 Thailand Electric Three-Wheeler Market Size, By Product, ‘000 Units (2021 – 2027)

Table 50 Thailand Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2020)

Table 51 Thailand Electric Three-Wheeler Market Size, By Product, USD Million (2021 – 2027)

Table 52 Thailand Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2020)

Table 53 Thailand Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2021 – 2027)

Table 54 Thailand Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2020)

Table 55 Thailand Electric Three-Wheeler Market Size, By Motor Power, USD Million (2021 – 2027)

Table 56 Philippines Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2020)

Table 57 Philippines Electric Three-Wheeler Market Size, By Product, ‘000 Units (2021 – 2027)

Table 58 Philippines Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2020)

Table 59 Philippines Electric Three-Wheeler Market Size, By Product, USD Million (2021 – 2027)

Table 60 Philippines Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2020)

Table 61 Philippines Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2021 – 2027)

Table 62 Philippines Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2020)

Table 63 Philippines Electric Three-Wheeler Market Size, By Motor Power, USD Million (2021 – 2027)

Table 64 Vietnam Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2020)

Table 65 Vietnam Electric Three-Wheeler Market Size, By Product, ‘000 Units (2021 – 2027)

Table 66 Vietnam Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2020)

Table 67 Vietnam Electric Three-Wheeler Market Size, By Product, USD Million (2021 – 2027)

Table 68 Vietnam Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2020)

Table 69 Vietnam Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2021 – 2027)

Table 70 Vietnam Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2020)

Table 71 Vietnam Electric Three-Wheeler Market Size, By Motor Power, USD Million (2021 – 2027)

Table 72 Snapshot – Jiangsu Kingbon Vehicle Co. Ltd.

Table 73 Snapshot – Changzhou Yufeng Vehicle Co. Ltd.

Table 74 Snapshot – ATUL Auto Ltd.

Table 75 Snapshot – Kinetic Green Energy & Power Solutions Ltd.

Table 76 Snapshot – Xianghe Qiangsheng Electric Tricycle Factory

Table 77 Snapshot – Lohia Auto Industries

Table 78 Snapshot – Terra Motors Corporation

Table 79 Snapshot – Jiangsu East Yonsland Vehicle Manufacturing Co.

List of Figures

Figure 1 Market Coverage

Figure 2 Research Phases

Figure 3 Secondary Sources for Different Parameters

Figure 4 Methodology

Figure 5 Data Mining & Exploration

Figure 6 Data Triangulation

Figure 7 Assumptions for Market Estimation and Forecast

Figure 8 Asia Electric Three-Wheeler Market - Growth Drivers and Restraints

Figure 9 Value Chain Analysis

Figure 10 Competitive Benchmarking

Figure 11 Asia Electric Three-Wheeler Market Highlight

Figure 12 Asia Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2027)

Figure 13 Asia Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2027)

Figure 14 Asia Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2027)

Figure 15 Asia Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2027)

Figure 16 Asia Electric Three-Wheeler Market Size, By Country, ‘000 Units (2015 – 2027)

Figure 17 Asia Electric Three-Wheeler Market Size, By Country, USD Million (2015 – 2027)

Figure 18 China Electric Three-Wheeler Market Highlight

Figure 19 China Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2027)

Figure 20 China Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2027)

Figure 21 China Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2027)

Figure 22 China Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2027)

Figure 23 India Electric Three-Wheeler Market Highlight

Figure 24 India Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2027)

Figure 25 India Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2027)

Figure 26 India Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2027)

Figure 27 India Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2027)

Figure 28 Indonesia Electric Three-Wheeler Market Highlight

Figure 29 Indonesia Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2027)

Figure 30 Indonesia Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2027)

Figure 31 Indonesia Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2027)

Figure 32 Indonesia Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2027)

Figure 33 Malaysia Electric Three-Wheeler Market Highlight

Figure 34 Malaysia Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2027)

Figure 35 Malaysia Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2027)

Figure 36 Malaysia Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2027)

Figure 37 Malaysia Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2027)

Figure 38 Thailand Electric Three-Wheeler Market Highlight

Figure 39 Thailand Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2027)

Figure 40 Thailand Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2027)

Figure 41 Thailand Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2027)

Figure 42 Thailand Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2027)

Figure 43 Philippines Electric Three-Wheeler Market Highlight

Figure 44 Philippines Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2027)

Figure 45 Philippines Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2027)

Figure 46 Philippines Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2027)

Figure 47 Philippines Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2027)

Figure 48 Vietnam Electric Three-Wheeler Market Highlight

Figure 49 Vietnam Electric Three-Wheeler Market Size, By Product, ‘000 Units (2015 – 2027)

Figure 50 Vietnam Electric Three-Wheeler Market Size, By Product, USD Million (2015 – 2027)

Figure 51 Vietnam Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2015 – 2027)

Figure 52 Vietnam Electric Three-Wheeler Market Size, By Motor Power, USD Million (2015 – 2027)