By the end of 2027, the electric three-wheeler market is expected to be worth USD 5.9 billion, with a CAGR of 11.10% between 2022 and 2030

Pune, India, Dec 2022, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Electric Three-Wheeler Market.

Governments in several nations are funding and initiating studies as a result of this, which may ultimately increase the market for electric vehicles, notably e-bikes. Urbanization is growing due to the economy's expansion, which is making traffic congestion worse. This is one of the main reasons the market is shifting away from regular bicycles and toward an interest in e-bikes. Additionally, it's a good thing because the demand for shared transportation mobility has declined after the outbreak. In addition to providing a more affordable and reasonably safe alternative to public transportation, they also provide a way to stay healthy. The governments are implementing incentives and regulatory changes to lessen the strain on mass transit.

The rise in government assistance and efforts to transform the automotive sector into a more honed sector is anticipated to increase the electric three-wheeler market share. However, one of the current electric three-wheeler market trends in 2022 is Hero MotoCorp, India's largest two-wheeler manufacturer, which entered the market for electric scooters earlier in October and has sights set on B2B vehicles, electric motorcycles, and even autonomous vehicles in the medium to long term. The Vida electric scooter, which has a starting price of Rs 1.45 lakh, was unveiled earlier this month by the Pawan Munjal-led firm. With the Vida V1, the business will provide several variations and modularity options.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Electric Three Wheelers Market Research Report

According to a statement filed by the firm, Hero MotoCorp's goals also include high-performance electric bikes, autonomous cars, sophisticated driver support, different form factors across electric mobility, and B2B (business-to-business) vehicles. The main inhibitor of the global market for electric three-wheelers during the projection period is the lack of suitable charging infrastructure. This is the main obstacle preventing the adoption of electric three-wheelers worldwide. 

Market Segmentation 

The market is divided into passenger carriers and utility/goods carriers based on the forms of propulsion. The market for electric three-wheelers is divided into lithium-ion, nickel-metal hybrid, lead-acid, and other categories, depending on use.  The market for electric three-wheelers is divided into three categories based on their ranges: less than 50 miles, between 50 and 100 miles, and over 100 miles. The market for electric three-wheelers is divided into two, three, four, and more segments based on capacity.  

Regional Analysis

According to the electric three-wheeler market forecast, the market is divided into segments based on the Asia-Pacific and the rest of the world. Due to the presence of China and India, as well as other well-known nations like Bangladesh, Thailand, and Cambodia, the Asia-Pacific region has the greatest electric three-wheeler market share. Since most residents in this area rely on public transportation, the government's supportive policies fuel the expansion of the electric three-wheeler sector.

During the projection period, it is expected that this region will experience a high CAGR in the global market for electric three-wheeler vehicles of 11.16%. 

Key Players 

The companies that are contributing to the market and keeping up with the electric three-wheeler market trends are:

• Terra Motors Corporation


• Changzhou Yufeng Vehicle Co. Ltd.


• Xianghe Qiangsheng Electric Tricycle


• Jiangsu Kingbon Vehicle Co. Ltd


• Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd


• Kinetic Green Energy & Power Solutions


• Piaggio Group


• Lohia Auto Industries


• Groupe PSA


• Mahindra Group


• Atul Auto Limited


• Adapt Motors Pvt. Ltd.