The three wheeler market was valued at US$ 9.14 Bn in 2018 and is expected to grow at a CAGR of 4.9% from 2019 to 2027 to reach US$ 13.73 Bn by 2027.
Three wheeler passenger carriers are three-wheelers used for transportation of passengers. A minimum of three and a maximum of five-six passengers can travel by three wheelers passenger carriers. In rural areas, more than six passengers travel by three-wheeler passenger carriers as per requirement. E-rickshaw is one of the main types of three wheelers. E-rickshaws run on battery and are eco-friendly vehicles and produce vehicular emission and less noise in comparison with conventional three wheelers. E-rickshaws can carry five-six passengers for transportation. Increasing demand for electric three wheelers, and increasing population, and increasing need fora vehicle that helps in traffic congestion in the region have been bolstering the growth of the global three wheelers market. In 2018, the APAC region holds a prominent position in the three wheeler market during the forecast period. Countries such as India is anticipated to dominate the domestic and export business segment during the forecast period. Further, many established players from India are focusing on the manufacture of three-wheelers complied with BS (Bharat Stage) VI norms, which will be implemented by 2020 to keep particulate matter, nitrogen oxides, and Sulphur emission in check. Significant growth is observed in China, followed by other Asian countries such as Thailand and Malaysia, due to the increasing need for transportation medium for rural and semi-urban areas of the nation and the growing population.
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Three Wheeler Market: Strategic Insights
Market Size Value in US$ 9.14 Billion in 2018 Market Size Value by US$ 13.73 Billion by 2027 Growth rate CAGR of 4.9% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Three Wheeler Market: Strategic Insights
| Market Size Value in | US$ 9.14 Billion in 2018 |
| Market Size Value by | US$ 13.73 Billion by 2027 |
| Growth rate | CAGR of 4.9% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Market Insights
The increasing demand for eco-friendly three wheelers is propelling the growth of the market
The automotive industry across the world is constantly experiencing the rise in the number of several new three-wheeler manufacturers. The three-wheeler manufacturers are continuously eyeballing on the development of the electric three-wheeler segment as the section is attracting the interest of the customers globally. The global automotive industry is experiencing a significant shift from traditional three-wheelers to electric three-wheelers.
Governments in various countries are taking the initiative for the adoption of electric three-wheelers. For instance, in March 2018, the Ministry of Heavy Industries & Public Enterprises, India, launched Phase-II of the FAME India Scheme, which was initiated on 1st April 2019 for next three years, with total budgetary support of US$ 1.39 billion. This phase is launched to mainly support the electrification of public & shared transportation and aims to support through subsidies 7000 e-Buses, 5 lakh e-3 Wheelers, 55000 e-4 Wheeler Passenger Cars, and 10 lakh e-2 Wheelers. This phase of the FAME Scheme is looking forward to setting up adequate public charging infrastructure to develop confidence among EV users. With this, the ministry of heavy industries & public enterprises is looking ahead for involvement and active participation of various stakeholders, including industries and public sector enterprises (PSEs) and government agencies. The key players in the market are aiming at developing electric vehicles. For instance, the Piaggio & C. SpA, and Italian motor vehicle manufacturer launched Piaggio Ape E-City under its range of Piaggio Ape Electrik Electric 3-Wheeler. The E-auto comes with a swappable Lithium-ion battery and can cover the range of around 70-80 km when charged once. Furthermore, in August 2019, Euler Motors announced that it would launch electric three-wheeler light commercial cargo vehicles in India in early 2020.
Geographically, India and China houses numerous three wheelers manufacturers, as well as the acceptance of electric three-wheelers is soaring at a rapid rate year on year. Apart from India and China, countries across South America, such as Brazil, Argentina, and the Middle East & African countries such as South Africa, Nigeria, Egypt, are also developing rapidly in terms of electric three-wheeler adoption in the automotive industry. Asia-Pacific has dominated as well as is witnessing huge growth in the automotive industry. Nevertheless, the automotive players operating in the region needs an improved number of partnerships with components providers, to mount exponentially in terms of electric three-wheeler deployments. The strategic partnerships, collaboration, contracts, acquisition with other market players are the primary factor for the industry players to drive their markets, which is estimated to drive the three-wheeler market worldwide in the coming years.
Type Insights
In type segment, passenger carrier captured the largest share in the global three wheeler market. The passenger carrier is the cheapest transport vehicles that can be afforded by various private transport operators and by individuals whose earning is from transport jobs. The growth of the segment is driven by the increasing demand for low-cost passenger carriers such as lack of proper roads, three-wheelers are mainly due to inadequate transportation facilities, and urban areas with heavy traffic congestions.
Fuel Type Insights
The three wheeler market, by fuel type, is segmented into diesel, petrol, CNG, LPG, and electric. The petrol segment captured dominating share in the global three wheeler market.
Market initiative is a strategy adopted by companies to expand their footprint across the world and to meet the growing customer demand. The market players present in the three wheeler market are mainly focusing on product and service enhancements by integrating advanced features and technologies. By signing partnerships, contracts, joint ventures, and inaugurating new offices across the world, companies are trying to increase their market share and brand presence. Most of the market initiatives were observed in the Asia Pacific region, which have a high potential for future market growth. Few of them are listed below;
2019:In December 2019, Greaves Cotton announced a partnership with TVS Motor Company. Under this partnership, Greaves Cotton would act as an authorized service center for TVS Motor’s three-wheelers in India.
2018:ATUL Auto Limited partnered with JBM Industries, an auto parts company based in India. The company has partnered to expand its three wheeler electric autos business.
Three Wheeler Market Report Scope
Three Wheeler Market – By Type
- Passenger Carrier
- Goods Carrier
Three Wheeler Market – By Fuel Type
- Diesel
- Petrol
- CNG
- LPG
- Electric
Global Three Wheeler Market by Region
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific
- China
- India
- South Korea
- Japan
- Australia
- Rest of Asia Pacific
Rest of the World
- Africa
- Latin America
Companies Profiles
- ATUL Auto Limited
- Bajaj Auto Ltd.
- J.S. AUTO (P) LTD.
- Mahindra & Mahindra Ltd.
- Piaggio & C. SpA
- Scooters India Limited
- Speego Vehicles Co Pvt Limited
- Terra Motors Corporation
- TVS Motor Company
- Xianghe Qiangsheng Electric Tricycle Factory
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Fuel Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The three-wheeler passenger carrier segment dominates the global three-wheeler market as it is one of the cheapest transport vehicles that can be afforded by various private transport operators and by individuals whose earning is from transport jobs. Asian countries like Bangladesh, Sri Lanka, and Nepal and African countries like Ghana, Nigeria, Tanzania, and Kenya accounted for more than 90% of the exports in the Indian three-wheeler PC market. During 2018, the ICE-powered three-wheelers segment accounted for the significant shares and dominated the three-wheel passenger carrier market due to the increased usage of diesel, gasoline, bio-diesel, and compressed natural gas/liquefied petroleum gas (CNG/LPG) to power the engine in developing nations. In Asia-Pacific, India is the major contributor to the three-wheeler passenger carrier market
The key players in the market are focusing on investing in the production of three wheelers in African and South American countries. There have been prominent strategies made in recent years by automakers to increase the usage of three wheelers in these regions. For instance, in August 2016, Lohia Auto Industries entered Africa with three wheeler operated on diesel. A reduction in organized public transport systems has led to rapid growth in non-conventional means of public transport, initially provided by minibuses and shared taxi/vans, and more recently by commercial three-wheelers. Unlike cities in South and East Asia, ownership and use of motorized and electric three-wheelers as a personalized vehicle is extremely small in sub-Saharan cities
The massive populations of China and India and the mounting middle-class population in these countries, as well as booming automotive sector scenarios in both countries, are anticipated to have a bright future for the adoption of three-wheeler vehicles. These countries are the hub for various local automakers, which are focusing on the development of a three-wheeler vehicle, most commonly known as auto-rickshaw/ tuk-tuk. Furthermore, China is the largest producer of passenger cars across the globe; also, India, Japan, and South Korea are some of the primary vehicle manufacturing countries. The continuous economic growth in developed and developing countries such as India and China, coupled with the presence of a high number of manufacturers in countries such as China and Japan, has facilitated the rapid growth of the automotive industry in this region
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Three Wheeler - Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Three Wheeler Market – North America PEST Analysis
4.2.2 Three Wheeler Market – Europe PEST Analysis
4.2.3 Three Wheeler Market – APAC PEST Analysis
4.2.4 Three Wheeler Market – RoW PEST Analysis
5. Three Wheeler Market – Key Industry Dynamics
5.1 Key Market Driver
5.1.1 Growing demand for eco-friendly three wheelers
5.1.2 Traffic Congestion
5.2 Key Market Restraint
5.2.1 Instability and lack of safety norms
5.3 Key Market Opportunity
5.3.1 Increasing adoption of three wheelers in Africa and South America
5.4 Future Trend
5.4.1 Increasing the Range Covered by Electric Three Wheeler Would Stimulate Market Growth
5.5 Impact Analysis of Drivers and Restraints
6. Three-Wheeler Market – Global Market Analysis
6.1 Overview
6.2 Global Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. Three-Wheeler Market – By Type
7.1 Overview
7.2 Three-Wheeler Market Breakdown, by Type (2018 and 2027)
7.3 Passenger Carrier
7.3.1 Overview
7.3.2 Passenger Carrier: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Goods Carrier
7.4.1 Overview
7.4.2 Goods Carrier: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
8. Three-Wheeler Market – By Fuel Type
8.1 Overview
8.2 Three-Wheeler Market Breakdown, by Fuel Type (2018 and 2027)
8.3 Diesel
8.3.1 Overview
8.3.2 Diesel: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Petrol
8.4.1 Overview
8.4.2 Petrol: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
8.5 CNG
8.5.1 Overview
8.5.2 CNG: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
8.6 LPG
8.6.1 Overview
8.6.2 LPG: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
8.7 Electric
8.7.1 Overview
8.7.2 Electric: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
9. Global Three Wheeler Market – Geographic Analysis
9.1 Overview
9.2 North America: Three wheeler Market
9.2.1 Overview
9.2.2 North America: Three Wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.2.3 North America: Three wheeler Market Revenue Share, by Type (2018 and 2027)
9.2.4 North America: Three wheeler Market, by Fuel Type, 2018 & 2027 (%)
9.2.5 North America: Three wheeler Market Revenue Share, by Country (2018 and 2027)
9.2.5.1 US: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.2.5.1.1 US: Three wheeler Market, by Type
9.2.5.1.2 US: Three wheeler Market, by Fuel Type
9.2.5.2 Canada: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.2.5.2.1 Canada: Three wheeler Market, by Type
9.2.5.2.2 Canada: Three wheeler Market, by Fuel Type
9.2.5.3 Mexico: Three Wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.2.5.3.1 Mexico: Three wheeler Market, by Type
9.2.5.3.2 Mexico: Three wheeler Market, by Fuel Type
9.3 Europe Three Wheeler Market Revenue and Forecasts to 2027
9.3.1 Europe Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.2 Europe Three Wheeler Market Breakdown, By Type
9.3.3 Europe Three Wheeler Market Breakdown, By Fuel Type
9.3.4 Europe Three Wheeler Market Breakdown, By Key Country
9.3.4.1 Germany Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.4.1.1 Germany Three Wheeler Market Breakdown, By Type
9.3.4.1.2 Germany Three Wheeler Market Breakdown, By Fuel Type
9.3.4.2 France Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.4.2.1 France Three Wheeler Market Breakdown, By Type
9.3.4.2.2 France Three Wheeler Market Breakdown, By Fuel Type
9.3.4.3 Italy Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.4.3.1 Italy Three Wheeler Market Breakdown, By Types
9.3.4.3.2 Italy Three Wheeler Market Breakdown, By Fuel Type
9.3.4.4 UK Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.4.4.1 UK Three Wheeler Market Breakdown, By Type
9.3.4.4.2 UK Three Wheeler Market Breakdown, By Fuel Type
9.3.4.5 Russia Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.4.5.1 Russia Three Wheeler Market Breakdown, By Type
9.3.4.6 Rest of Europe Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.4.6.1 Rest of Europe Three Wheeler Market Breakdown, By Type
9.3.4.6.2 Rest of Europe Three Wheeler Market Breakdown, By Fuel Type
9.4 APAC: Three wheeler Market
9.4.1 Overview
9.4.2 APAC: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.4.3 APAC: Three Wheeler Market, by Type
9.4.4 APAC: Three wheeler Market, by Fuel Type
9.4.5 APAC: Three wheeler Market, by Key Country
9.4.5.1 Australia: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.4.5.1.1 Australia: Three wheeler Market, by Type
9.4.5.1.2 Australia: Three Wheeler Market, by Fuel Type
9.4.5.2 China: Three Wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.4.5.2.1 China: Three wheeler Market, by Type
9.4.5.2.2 China: Three wheeler Market, by Fuel Type
9.4.5.3 Japan: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.4.5.3.1 Japan: Three wheeler Market, by Type
9.4.5.3.2 Japan: Three wheeler Market, by Fuel Type
9.4.5.4 India: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.4.5.4.1 India: Three wheeler Market, by Type
9.4.5.4.2 India: Three wheeler Market, by Fuel Type
9.4.5.5 South Korea: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.4.5.5.1 South Korea: Three wheeler Market, by Type
9.4.5.5.2 South Korea: Three wheeler Market, by Fuel Type
9.4.5.6 Rest of APAC: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.4.5.6.1 Rest of APAC: Three wheeler Market, by Type
9.4.5.6.2 Rest of APAC: Three wheeler Market, by Fuel Type
9.5 Rest of the World: Three wheeler Market, Revenue and Forecast to 2027
9.5.1 Overview
9.5.2 Rest of the World: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.5.3 Rest of the World: Three wheeler Market Revenue Share, by Type
9.5.4 Rest of the World: Three wheeler Market Revenue Share, by Fuel Type
9.5.5 Rest of the World: Three wheeler Market Revenue Share, by Country
9.5.5.1 Africa: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.5.5.1.1 Africa: Three wheeler Market Breakdown, by Type
9.5.5.1.2 Africa: Three wheeler Market Breakdown, by Fuel Type
9.5.5.2 Latin America: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
9.5.5.2.1 SAM: Three wheeler Market Breakdown, by Type
9.5.5.2.2 Latin America: Three wheeler Market Breakdown, by Fuel Type
10. Global Three Wheeler Market-Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Development
11. Company Profiles
11.1 ATUL Auto Limited
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 Piaggio & C. SpA
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 Bajaj Auto Ltd.
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 J.S. AUTO (P) LTD.
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 Speego Vehicles Co Pvt Limited
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 Mahindra & Mahindra Ltd.
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 Scooters India Limited
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 TVS Motor Company
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 Terra Motors Corporation
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 Xianghe Qiangsheng Electric Tricycle Factory
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
LIST OF TABLES
Table 1. Global Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Global Three Wheeler Market, by Region, 2018–2027 (US$ Mn)
Table 3. North America: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 4. North America: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 5. North America: Three wheeler Market, by Country, 2018–2027 (US$ Mn)
Table 6. US: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 7. US: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 8. Canada: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 9. Canada: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 10. Mexico: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 11. Mexico: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 12. Europe: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 13. Europe Three Wheeler Market Revenue and Forecasts to 2027 – By Fuel Type (US$ Mn)
Table 14. Germany: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 15. Germany: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 16. France: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 17. France: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 18. Italy: Three wheeler Market, by Types, 2018–2027 (US$ Mn)
Table 19. Italy Three Wheeler Market Revenue and Forecasts to 2027 – By Fuel Type (US$ Mn)
Table 20. UK Three Wheeler Market Revenue and Forecasts to 2027 – By Type (US$ Mn)
Table 21. UK: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 22. Russia: Three Wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 23. Russia Three Wheeler Market Revenue and Forecasts to 2027 – By Fuel Type (US$ Mn)
Table 24. Rest of Europe: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 25. Rest of Europe: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 26. Asia Pacific: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 27. Asia Pacific: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 28. Asia Pacific: Three wheeler Market, by Country, 2018–2027 (US$ Mn)
Table 29. Australia: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 30. Australia: Three Wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 31. China: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 32. China: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 33. Japan: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 34. Japan: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 35. India: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 36. India: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 37. South Korea: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 38. South Korea: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 39. Rest of Asia Pacific: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 40. Rest of Asia Pacific: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 41. Rest of the World: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 42. Rest of the World: Three wheeler Market, by Fuel Type – Revenue and Forecast to 2027 (US$ Mn)
Table 43. Rest of the World: Three wheeler Market, by Country, 2018–2027 (US$ Mn)
Table 44. Africa: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 45. Africa: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 46. SAM: Three wheeler Market, by Type, 2018–2027 (US$ Mn)
Table 47. Latin America: Three wheeler Market, by Fuel Type, 2018–2027 (US$ Mn)
Table 48. Glossary of Terms, Three Wheeler Market
LIST OF FIGURES
Figure 1. Three Wheeler Market Segmentation
Figure 2. Three Wheeler Market Segmentation – By Geography
Figure 3. Three Wheeler Market Overview
Figure 4. Three Wheeler Geographic Overview
Figure 5. Three Wheeler Market, By Geography
Figure 6. Three Wheeler Market, by Type
Figure 7. Global Three Wheeler Market, Industry Landscape
Figure 8. North America - PEST Analysis
Figure 9. Europe - PEST Analysis
Figure 10. APAC – PEST Analysis
Figure 11. ROW – PEST Analysis
Figure 12. EV Powertrain Market Impact Analysis of Drivers and Restraints
Figure 13. Global Three-Wheeler Market
Figure 14. Global Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. Three-Wheeler Market Revenue Share, by Type (2018 and 2027)
Figure 16. Passenger Carrier: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Goods Carrier: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Three-Wheeler Market Revenue Share, by Fuel Type (2018 and 2027)
Figure 19. Diesel: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Petrol: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. CNG: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. LPG: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Electric: Three-Wheeler Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Global Three Wheeler Market, By Geography – 2018 (US$ Mn)
Figure 25. North America: Three Wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 26. North America: Three wheeler Market, by Type, 2018 & 2027 (%)
Figure 27. North America: Three wheeler Market, by Fuel Type, 2018 & 2027 (%)
Figure 28. North America: Three wheeler Market, by Country, 2018 & 2027 (%)
Figure 29. US: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 30. Canada: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 31. Mexico: Three Wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 32. Europe Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 33. Europe Three Wheeler Market Breakdown, By Type, 2018 and 2027 (%)
Figure 34. Europe Three Wheeler Market Breakdown, By Fuel Type, 2018 and 2027 (%)
Figure 35. Europe: Three wheeler Market, by Country, 2018 & 2027 (%)
Figure 36. Germany Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 37. France Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 38. Italy Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 39. UK Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 40. Russia Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 41. Rest of Europe Three Wheeler Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 42. APAC: Three Wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 43. Asia Pacific: Three Wheeler Market, by Type, 2018 & 2027 (%)
Figure 44. Asia Pacific: Three Wheeler Market, by Fuel Type, 2018 & 2027 (%)
Figure 45. Asia Pacific: Three wheeler Market, by Country, 2018 & 2027 (%)
Figure 46. Australia: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 47. China: Three Wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 48. Japan: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 49. India: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 50. South Korea: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 51. Rest of APAC: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 52. Rest of the World: Three wheeler Market, Revenue and Forecast to 2027 (US$ Mn)
Figure 53. Rest of the World: Three wheeler Market, by Type, 2018 & 2027 (%)
Figure 54. Rest of the World: Three wheeler Market, by Services, 2018 & 2027 (%)
Figure 55. Rest of the World: Three wheeler Market, by Country, 2018 & 2027 (%)
Figure 56. Africa: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 57. Latin America: Three wheeler Market – Revenue and Forecast to 2027 (US$ Mn)
The List of Companies - Three Wheeler Market
- ATUL Auto Limited
- Piaggio & C. SpA
- Bajaj Auto Ltd
- J.S. AUTO (P) LTD.
- Speego Vehicles Co Pvt Limited
- Mahindra & Mahindra Ltd.
- Scooters India Limited
- TVS Motor Company
- Terra Motors Corporation
- Xianghe Qiangsheng Electric Tricycle Factory
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.
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