Malaysia Electric Three-wheeler Market – Analysis and Forecast (2023-2030)

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 Malaysian electric three-wheeler market is predicted to grow at 14.8% CAGR during the forecast period, in terms of its fleet size. The Malaysian market is still at nascent; however, increasing popularity of electric three-wheelers among the transport companies and vehicle owners for their low maintenance requirement are anticipated to create ample growth opportunities in the coming years.

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, whereas load carrier electric three-wheelers are also anticipated to witness significant growth during the forecast period.

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 Malaysian 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.

MALAYSIA ELECTRIC THREE-WHEELERS MARKET HIGHLIGHT

Industry Dynamics

The Malaysian electric three-wheelers market is primarily driven by the anticipated government initiatives in the coming years along with increasing demand for low-emission alternatives to conventional auto rickshaws. The Malaysian government is yet framing an optimistic environment for electric vehicle manufacturers in the country.

The country has discontinued incentive for electric vehicle in 2014 and this hampers the rapid growth of the market, however, the ambitious plan of the government in the government in the coming years creates to an optimistic scenario in the country for manufacturers. The country had set out the target to support adoption of over 100,000 EVs by 2020.

Moreover, the government plans to grow and develop electric vehicle charging infrastructure is also anticipated to support the growth of the Malaysian electric three-wheelers market in the coming years. The government-owned Malaysian Green Technology plans to install 25,000 electric vehicle charging station across the country.

The Malaysian electric vehicle industry is optimistic about the adoption of these vehicles in the coming years. With the increasing traction among local manufacturers, it is anticipated that the cost of electric vehicles will significantly lower in the coming years as compared to imported vehicles from other countries. Moreover, the falling battery prices will also support the adoption of electric three-wheelers in the country during the forecast period.

Competitive Insight

The report offers competitive insight of the players offering electric three-wheelers, OEMs or components manufacturers for these vehicles. Product and services, recent developments and financial highlights for the players operating in the Malaysian 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

1.2.2. 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. 1,000-1,500W

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

5. Malaysia Market Estimate and Forecast

5.1.  By Product

5.2.  By Motor Power

6. Company Profiles

7. Appendix

7.1.  Exchange Rates

7.2.  Abbreviations

List of Tables

Table 1 Sources

Table 2 Study Periods

Table 3 Data Reporting Unit

Table 4 Malaysia Electric Three-Wheeler Market Size, By Product, ‘000 Units (2018 – 2022)

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

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

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

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

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

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

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

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 Malaysia Electric Three-Wheeler Market - Growth Drivers and Restraints

Figure 9 Value Chain Analysis

Figure 10 Competitive Benchmarking

Figure 11 Malaysia Electric Three-Wheeler Market Highlight

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

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

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

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