China Electric Three-wheeler Market

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

Electric three-wheelers 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 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 in the country.

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 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 depended 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 a cheaper and faster intracity transport in these countries; therefore, large population depends on it for the transport. Although with the lower performance compared to the conventional auto rickshaws, electric three-wheelers are still being preferred for their low maintenance rate. Moreover, supported by government policies and subsidies manufacturers are able to provide these electric three-wheelers at competitive pricing, which further increases their adoption of these vehicles in the country.

During 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 the policymakers, full-scale research centres, 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 of electric three-wheelers in China is 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.

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

1. Research Overview

1.1.  The Report Offers

1.2.  Market Coverage

1.2.1. By Product

1.2.1. By Type

1.2.3. By Motor Power

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. 1,000-1,500 W

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

5. China Market Estimate and Forecast

5.1.  By Product

5.2.  By Type

5.2.  By Motor Power

6. Company Profiles

6.1.  Jiangsu Kingbon Vehicle Co. Ltd.

6.1.1. Snapshot

6.1.2. Overview

6.1.3. Offerings

6.1.4. Financial Insight

6.1.5. Recent Developments

6.2.  Changzhou Yufeng Vehicle Co. Ltd.

6.2.1. Snapshot

6.2.2. Overview

6.2.3. Offerings

6.2.4. Financial Insight

6.2.5. Recent Developments

6.3.  Xianghe Qiangsheng Electric Tricycle Factory

6.3.1. Snapshot

6.3.2. Overview

6.3.3. Offerings

6.3.4. Financial Insight

6.3.5. Recent Developments

6.4.  Jiangsu East Yonsland Vehicle Manufacturing Co.

6.4.1. Snapshot

6.4.2. Overview

6.4.3. Offerings

6.4.4. Financial Insight

6.4.5. Recent Developments

7. Appendix

7.1.  Exchange Rates

7.2.  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 China Electric Three-Wheeler Market Size, By Product, ‘000 Units (2018 – 2022)

Table 5 China Electric Three-Wheeler Market Size, By Product, ‘000 Units (2023 – 2030)

Table 6 China Electric Three-Wheeler Market Size, By Product, USD Billion (2018 – 2022)

Table 7 China Electric Three-Wheeler Market Size, By Product, USD Billion (2023 – 2030)

Table 8 China Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2018 – 2022)

Table 9 China Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2023 – 2030)

Table 10 China Electric Three-Wheeler Market Size, By Motor Power, USD Billion (2018 – 2022)

Table 11 China Electric Three-Wheeler Market Size, By Motor Power, USD Billion (2023 – 2030)

Table 12 Snapshot – Jiangsu Kingbon Vehicle Co. Ltd.

Table 13 Snapshot – Changzhou Yufeng Vehicle Co. Ltd.

Table 14 Snapshot – Xianghe Qiangsheng Electric Tricycle Factory

Table 15 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 China Electric Three-Wheeler Market - Growth Drivers and Restraints

Figure 9 Value Chain Analysis

Figure 10 Competitive Benchmarking

Figure 11 China Electric Three-Wheeler Market Highlight

Figure 12 China Electric Three-Wheeler Market Size, By Product, ‘000 Units (2018 – 2030)

Figure 13 China Electric Three-Wheeler Market Size, By Product, USD Billion (2018 – 2030)

Figure 14 China Electric Three-Wheeler Market Size, By Motor Power, ‘000 Units (2018 – 2030)

Figure 15 China Electric Three-Wheeler Market Size, By Motor Power, USD Billion (2018 – 2030)