Three-Wheeler Market Size, Top Manufacturers, Regions and Forecast 2022-2027
According to the latest report by IMARC Group, titled "Three-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on three-wheeler market segments. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global three-wheeler market is expected to exhibit a CAGR of 10.1% during 2022-2027.
A three-wheeler is a vehicle that runs on petrol/CNG, diesel, or electric motor. It is generally used as a commercial vehicle to transport passengers and goods. Its mobility depends on maneuverability, affordability, and door-to-door transport. It is increasingly gaining acceptance as an effective means of transportation, especially in developing countries. Three-wheeler vehicles are recognized as an economical means of intermediate public conveyance for short and medium distances. They are regarded as low-budget vehicles amongst the other vehicles on account of their universal appeal.
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Market Trends:
The global market is majorly driven by the increasing demand for commercial vehicles with lower operating costs. In line with this, the growing preference for electric three-wheelers is significantly contributing to the market growth. Furthermore, an inadequate availability of public transportation and underdeveloped transport and logistic infrastructure is positively influencing the product demand. Apart from this, the rising penetration of the hub-n-spoke model in supply chain networks of enterprises worldwide is catalyzing the market growth. Moreover, significant growth in the public transportation sector, especially in developing economies, is propelling market expansion. Besides, the escalating demand for three-wheeler vehicles in the logistics sector for transporting goods is favoring the market growth. Additionally, several governments and organizations have launched various subsidy schemes and initiatives to encourage buyers to prefer adopt electric propulsion typed three-wheelers, thus providing a boost to the market growth.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Bajaj Auto Limited
- TVS Motor Company Limited
- Mahindra & Mahindra Limited
- Piaggio & C. S.p.A.
- Scooters India Limited
- Atul Auto Limited
- Kinetic Green
- ChongQing Zongshen Tricycle Manufacturing Co., Ltd
Three-Wheeler Market Segmentation:
Our report has categorized the market based on region, vehicle type, passenger vehicle and fuel type.
Breakup by Vehicle Type:
- Passenger Carrier
- Load Carrier
Breakup by Passenger Vehicle:
- 4-seater
- 6-seater
Breakup by Fuel Type:
- Petrol/CNG
- Diesel
- Electric
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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