Electric Trike Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The electric trike is a three-wheeled car designed to offer similar features to a car with enhanced features and compact size. An electric trike is offering both experiences for the user, such as car rides and motorcycle rides. The third wheel helps to balance the vehicle with enhanced control during the ride. The tilting wheel technology introduced by the market players is further boosting the market growth. Increasing demand for urban city transport applications propels the market growth.
MARKET DYNAMICS
The global electric trike market is growing at a considerable rate due to the increasing demand for electric vehicles. The numerous benefits offered by the electric trike, such as improved control, compact size, and improved performance for city commute, boost the growth of the electric trike market. Further, the rising development in battery technologies and supporting infrastructure development for electric vehicles anticipates the growth of the electric trike market..
MARKET SCOPE
The "Global Electric Trike Market Analysis to 2028" is a specialized and in-depth study of the electric trike market with a special focus on the global market trend analysis. The report aims to provide an overview of electric trike market with detailed market segmentation by seating capacity and application. The global electric trike market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Electric trike market player and offers key trends and opportunities in the Electric trike market. Rising living standards and inclination towards leisure and sports activities are accelerating the market growth in developed and developing nations.
MARKET SEGMENTATION
The global electric trike market is segmented on the basis of seating capacity, application, and geography. On the basis of seating capacity, market is segmented as single seat, and others. On the basis of application, market is segmented as below personal, and business.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global electric trike market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The electric trike market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Electric trike market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the electric trike market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global electric trike market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The electric trike market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Electric trike market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the electric trike market in these regions.
MARKET PLAYERS
The reports cover key developments in the electric trike market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from electric trike market are anticipated to lucrative growth opportunities in the future with the rising demand for electric trike market. Below mentioned is the list of few companies engaged in the electric trike market.
The report also includes the profiles of key electric trike market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- AKO TRIKE
- ARCIMOTO
- ATELIER GIRFALCO LIMITéE
- DAMIUS
- ETRIKES CANADA
- ELECTRAMECCANICA
- ETRIKECO
- IOEV
- SWAYMOTORSPORTS
- WUXI KAINING ELECTRIC TECHNOLOGY CO. LTD.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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Country Scope
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1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Electric Trike Market - By Seating Capacity
1.3.2Electric Trike Market - By Application
1.3.3Electric Trike Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.ELECTRIC TRIKE MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Rest of the World - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.ELECTRIC TRIKE MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.ELECTRIC TRIKE MARKET - GLOBAL MARKET ANALYSIS
6.1.ELECTRIC TRIKE - GLOBAL MARKET OVERVIEW
6.2.ELECTRIC TRIKE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING
7.ELECTRIC TRIKE MARKET - REVENUE AND FORECASTS TO 2028 â" SEATING CAPACITY
7.1.OVERVIEW
7.2.SEATING CAPACITY MARKET FORECASTS AND ANALYSIS
7.3.SINGLE SEAT
7.3.1.Overview
7.3.2.Single Seat Market Forecast and Analysis
7.4.OTHERS
7.4.1.Overview
7.4.2.Others Market Forecast and Analysis
8.ELECTRIC TRIKE MARKET - REVENUE AND FORECASTS TO 2028 â" APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.PERSONAL
8.3.1.Overview
8.3.2.Personal Market Forecast and Analysis
8.4.BUSINESS
8.4.1.Overview
8.4.2.Business Market Forecast and Analysis
9.ELECTRIC TRIKE MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Electric Trike Market Overview
9.1.2North America Electric Trike Market Forecasts and Analysis
9.1.3North America Electric Trike Market Forecasts and Analysis - By Seating Capacity
9.1.4North America Electric Trike Market Forecasts and Analysis - By Application
9.1.5North America Electric Trike Market Forecasts and Analysis - By Countries
9.1.5.1United States Electric Trike Market
9.1.5.1.1United States Electric Trike Market by Seating Capacity
9.1.5.1.2United States Electric Trike Market by Application
9.1.5.2Canada Electric Trike Market
9.1.5.2.1Canada Electric Trike Market by Seating Capacity
9.1.5.2.2Canada Electric Trike Market by Application
9.1.5.3Mexico Electric Trike Market
9.1.5.3.1Mexico Electric Trike Market by Seating Capacity
9.1.5.3.2Mexico Electric Trike Market by Application
9.2.EUROPE
9.2.1Europe Electric Trike Market Overview
9.2.2Europe Electric Trike Market Forecasts and Analysis
9.2.3Europe Electric Trike Market Forecasts and Analysis - By Seating Capacity
9.2.4Europe Electric Trike Market Forecasts and Analysis - By Application
9.2.5Europe Electric Trike Market Forecasts and Analysis - By Countries
9.2.5.1Germany Electric Trike Market
9.2.5.1.1Germany Electric Trike Market by Seating Capacity
9.2.5.1.2Germany Electric Trike Market by Application
9.2.5.2France Electric Trike Market
9.2.5.2.1France Electric Trike Market by Seating Capacity
9.2.5.2.2France Electric Trike Market by Application
9.2.5.3Italy Electric Trike Market
9.2.5.3.1Italy Electric Trike Market by Seating Capacity
9.2.5.3.2Italy Electric Trike Market by Application
9.2.5.4United Kingdom Electric Trike Market
9.2.5.4.1United Kingdom Electric Trike Market by Seating Capacity
9.2.5.4.2United Kingdom Electric Trike Market by Application
9.2.5.5Russia Electric Trike Market
9.2.5.5.1Russia Electric Trike Market by Seating Capacity
9.2.5.5.2Russia Electric Trike Market by Application
9.2.5.6Rest of Europe Electric Trike Market
9.2.5.6.1Rest of Europe Electric Trike Market by Seating Capacity
9.2.5.6.2Rest of Europe Electric Trike Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Electric Trike Market Overview
9.3.2Asia-Pacific Electric Trike Market Forecasts and Analysis
9.3.3Asia-Pacific Electric Trike Market Forecasts and Analysis - By Seating Capacity
9.3.4Asia-Pacific Electric Trike Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Electric Trike Market Forecasts and Analysis - By Countries
9.3.5.1Australia Electric Trike Market
9.3.5.1.1Australia Electric Trike Market by Seating Capacity
9.3.5.1.2Australia Electric Trike Market by Application
9.3.5.2China Electric Trike Market
9.3.5.2.1China Electric Trike Market by Seating Capacity
9.3.5.2.2China Electric Trike Market by Application
9.3.5.3India Electric Trike Market
9.3.5.3.1India Electric Trike Market by Seating Capacity
9.3.5.3.2India Electric Trike Market by Application
9.3.5.4Japan Electric Trike Market
9.3.5.4.1Japan Electric Trike Market by Seating Capacity
9.3.5.4.2Japan Electric Trike Market by Application
9.3.5.5South Korea Electric Trike Market
9.3.5.5.1South Korea Electric Trike Market by Seating Capacity
9.3.5.5.2South Korea Electric Trike Market by Application
9.3.5.6Rest of Asia-Pacific Electric Trike Market
9.3.5.6.1Rest of Asia-Pacific Electric Trike Market by Seating Capacity
9.3.5.6.2Rest of Asia-Pacific Electric Trike Market by Application
9.4.REST OF THE WORLD
9.4.1Rest of the World Electric Trike Market Overview
9.4.2Rest of the World Electric Trike Market Forecasts and Analysis
9.4.3Rest of the World Electric Trike Market Forecasts and Analysis - By Seating Capacity
9.4.4Rest of the World Electric Trike Market Forecasts and Analysis - By Application
9.4.5Rest of the World Electric Trike Market Forecasts and Analysis - By Countries
9.4.5.1MEA Electric Trike Market
9.4.5.1.1MEA Electric Trike Market by Seating Capacity
9.4.5.1.2MEA Electric Trike Market by Application
9.4.5.2SAM Electric Trike Market
9.4.5.2.1SAM Electric Trike Market by Seating Capacity
9.4.5.2.2SAM Electric Trike Market by Application
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.ELECTRIC TRIKE MARKET, KEY COMPANY PROFILES
11.1.AKO TRIKE
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.ARCIMOTO
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.ATELIER GIRFALCO LIMITéE
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.DAMIUSÂ
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.ETRIKES CANADA
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.ELECTRAMECCANICA
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.ETRIKECO
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.IOEV
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SWAYMOTORSPORTS
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.WUXI KAINING ELECTRIC TECHNOLOGY CO. LTD.
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. AKO Trike
2. Arcimoto
3. Atelier Girfalco Limitée
4. DAMIUSÂ
5. eTrikes Canada
6. ElectraMeccanica
7. ETrikeCo
8. IOEV
9. swaymotorsports
10. WUXI KAINING ELECTRIC TECHNOLOGY CO. LTD.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.