1. Home
  2. > Energy & Environment
  3. > Energy
  4. > Electric Power
  5. > Energy Storage
  6. > Battery Market Trends
Asia Pacific Electric 3-Wheeler Market by End-use, Range, Battery type, Battery Capacity, Motor Power, Payload Capacity - Forecast to 2027

Asia Pacific Electric 3-Wheeler Market by End-use, Range, Battery type, Battery Capacity, Motor Power, Payload Capacity - Forecast to 2027

  • June 2022
  • 218 pages
  • ID: 6058048
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

Search Inside

Asia Pacific electric 3-wheeler market is estimated to be 272.7 thousand units in 2022 and is projected to grow to 702.1 thousand units by 2027, at a CAGR of 20.8% during the forecast period.

Low operating and maintenance cost to drive the electric 3-wheeler market in Asia Pacific
One of the most important factors driving the Asia Pacific electric 3-wheeler market is the increasing prices of petroleum products.Thus, ICE 3-wheelers are generally expensive to operate.

Consumers from emerging countries are already affected by the increasing costs of petrol and diesel.Electric 3-wheelers operating on electricity significantly reduce the operating cost of these vehicles as the use of petrol and diesel is eliminated.

Electric 3-wheelers are eco-friendly battery-operated 3-wheelers with better economy and lower operating cum maintenance costs than ICE 3-wheelers.Manufacturers are working towards developing 3-wheelers that have a higher range than the current models.

As electric 3-wheelers have a lower number of moving parts than conventional 3-wheelers, maintenance is not a major concern. The highest maintenance cost is expected to be the cost of changing the battery, which, however, is not frequent. Electric 3-wheelers provide zero tailpipe emissions and noise-free transportation. The 3-wheelers with a carrying capacity of between three to seven people provide mobility solutions for short trips of up to 10–12 km, for first and last-mile connectivity, and as feeder services to the main haul public transport. The electrification of 3-wheelers is expected to result in lower operation and maintenance costs as compared to Internal Combustion Engine (ICE) vehicles, making them economically viable. This is driving the market for electric 3-wheelers in the Asia Pacific region.

Government incentives and subsidies to boost the market of Electric 3-wheeler
Growing concerns over increased pollution by the automotive industry is the prime reason government bodies are promoting electric 3-wheelers over conventional ones.They have recognized the need for promoting energy-efficient vehicles to reduce the increasing pollution.

To attract and encourage people to buy electric 3-wheelers, government bodies of different countries are introducing lucrative schemes and incentives that include formidable discounts, free electricity (initially), and free public charging stations.Apart from this, governments are working with manufacturers to build charging and manufacturing facilities, exempting them from taxation.

These factors are expected to drive the Asia Pacific electric 3-wheeler market in the future.For instance, in 2020, Thailand’s Board of Investment (BOI) issued tax incentives for the country’s electric vehicle (EV) industry.

Originally only state agencies took on the mantle to move the industry forward through the development of vehicle and charging station prototypes. However, due to the increasing incentives from governments, the industry has become increasingly attractive to the private sector.

New revenue pockets in Asia Pacific region to drive the market
Asia Pacific is a high-growth market for electric 3-wheelers.Several countries in this region have a high penetration of 3-wheelers and have witnessed a surge in demand for low-emission and fuel-efficient commuting alternatives due to stringent emission norms and increasing crude oil prices.

In April 2022, Bajaj Auto announced its plan to commercially launch its first electric 3-wheeler during the second half of 2022.This showcases that the demand for efficient and affordable electric 3-wheelers is expected to grow significantly in the Indian market.

OEMs are entering into strategic partnerships to strengthen their bases in the Asia Pacific electric 3-wheeler market. For instance, in April 2022, Atul Auto Ltd. announced its plan to develop a prototype version of both cargo and passenger electric 3-wheelers with battery swapping solutions. It will employ the Honda Mobile Power Pack e: Swap, which is a swappable battery pack, and a powertrain system from Valeo. The market in the Asia Pacific region is expected to grow exponentially in the coming years due to the high adoption of electric 3-wheelers in China and the high potential of the Indian market.
The study contains insights from various industry experts, ranging from component suppliers to tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: OEMs - 57%, Tier 1 – 29%, Tier 2 - 14%
• By Designation: CXOs - 54%, Directors - 32%, Others - 14%
• By Region: India- 57%, Nepal - 14%, Bangladesh - 12%, Sri Lanka -10%, Others-7%
Major players profiled in the report are Mahindra & Mahindra Ltd. (India), Atul Auto Ltd. (India), Piaggio Group (Italy), Lohia Auto Industries (India), and Kinetic Engineering Limited (India).

Research Coverage
The report segments the Asia Pacific electric 3-wheeler market and forecasts its size, by volume, on the basis of country (Bangladesh, Nepal, Vietnam, India, Sri Lanka, China, Japan, Thailand, Philippines, Indonesia, and Singapore), by end-use (passenger carrier & load carrier), range (upto 50 miles & above 50 miles), battery type (lead-acid, lithium-ion and others), battery capacity (below 3kWh, 3-6kWh, above 6kWh), motor power (below 1,000 W, 1,000-1,500 W & above 1,500 W) and payload capacity (up to 300 kg, 300–500 kg, and above 500 kg). It also covers the competitive landscape and company profiles of the major players in the Asia Pacific electric 3a-wheeler market ecosystem.

Key Benefits of Buying the Report:
• The report will help market leaders/new entrants in this market with information on the closest approximations of revenue and volume numbers for the Asia Pacific electric 3-wheeler market and its sub segments.
• This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Electric Vehicle (EV) Batteries Global Market Opportunities And Strategies To 2031

  • $ 4000
  • January 2023
  • 213 pages

Electric Vehicle (EV) Batteries Global Market Opportunities And Strategies To 2031 provides the strategists; marketers and senior management with the critical information they need to assess the global ...

  • World
  • Electric Vehicle
  • Battery
  • Industry analysis
  • Disposable Income
  • Gross Domestic Product Per Capita

ref:plp2022

Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on