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Asia Pacific Electric 3-Wheeler Market by End-use (Passenger & Load), Range (Upto 50 Miles & Above 50 Miles), Battery type (Lead Acid & Lithium ion), Battery Capacity (Below 3kWh, 3-6kWh, Above 6kWh), Motor Power, Payload Capacity - Forecast to 2027

Asia Pacific Electric 3-Wheeler Market by End-use (Passenger & Load), Range (Upto 50 Miles & Above 50 Miles), Battery type (Lead Acid & Lithium ion), Battery Capacity (Below 3kWh, 3-6kWh, Above 6kWh), Motor Power, Payload Capacity - Forecast to 2027

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.
Table of Contents

1INTRODUCTION19
1.1OBJECTIVES OF THE STUDY19
1.2MARKET DEFINITION19
1.2.1ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY END-USE20
1.2.2ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY TYPE20
1.3ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: INCLUSIONS AND EXCLUSIONS21
1.4MARKET SCOPE22
1.4.1MARKETS COVERED23
FIGURE 1MARKET SEGMENTATION23
1.4.2YEARS CONSIDERED23
1.5PACKAGE SIZE24
1.6STAKEHOLDERS24
1.7SUMMARY OF CHANGES25
2RESEARCH METHODOLOGY26
2.1RESEARCH DATA26
FIGURE 2ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: RESEARCH DESIGN26
2.1.1SECONDARY DATA27
2.1.1.1Key data from secondary sources27
2.1.2PRIMARY DATA28
2.1.2.1Key data from primary sources28
2.1.2.2List of participating companies for primary research29
2.1.2.3Key industry insights29
2.1.2.4Breakdown of primary interviews30
FIGURE 3BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY, DESIGNATION,
AND COUNTRY30
2.2MARKET SIZE ESTIMATION30
FIGURE 4MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH31
FIGURE 5MARKET SIZE ESTIMATION: TOP-DOWN APPROACH31
2.3FACTOR ANALYSIS32
2.3.1FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES32
2.4DATA TRIANGULATION33
FIGURE 6MARKET BREAKDOWN AND DATA TRIANGULATION33
2.5ASSUMPTIONS34
2.6RISK ASSESSMENT35
2.7RESEARCH LIMITATIONS35

3EXECUTIVE SUMMARY36
FIGURE 7ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: MARKET DYNAMICS37
TABLE 1INDIA: ELECTRIC 3-WHEELER SALES DATA, 2019-202138
FIGURE 8ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY,
2022–2027 (UNITS)38
FIGURE 9BY END-USE, PASSENGER CARRIER SEGMENT PROJECTED TO LEAD MARKET DURING FORECAST PERIOD39
4PREMIUM INSIGHTS40
4.1ATTRACTIVE OPPORTUNITIES IN ASIA PACIFIC ELECTRIC 3-WHEELER MARKET40
FIGURE 10ADOPTION OF EFFICIENT AND EMISSION-FREE VEHICLES TO DRIVE MARKET40
4.2ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER40
FIGURE 111,000-1,500 W SEGMENT EXPECTED TO LEAD MARKET
FROM 2022 TO 2027 (UNITS)40
4.3ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY TYPE41
FIGURE 12LEAD-ACID BATTERY SEGMENT EXPECTED TO LEAD MARKET
FROM 2022 TO 2027 (UNITS)41
4.4ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY RANGE41
FIGURE 13UP TO 50 MILES SEGMENT EXPECTED TO LEAD MARKET
FROM 2022 TO 2027 (UNITS)41
4.5ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY CAPACITY42
FIGURE 143-6 KWH SEGMENT EXPECTED TO LEAD MARKET
FROM 2022 TO 2027 (UNITS)42
4.6ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY END-USE42
FIGURE 15PASSENGER CARRIER SEGMENT EXPECTED TO LEAD MARKET
FROM 2022 TO 2027 (UNITS)42
4.7ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY43
FIGURE 16300-500 KG SEGMENT EXPECTED TO LEAD MARKET
FROM 2022 TO 2027 (UNITS)43
4.8ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY43
FIGURE 17INDIA ESTIMATED TO BE LARGEST MARKET IN 202243
5MARKET OVERVIEW44
5.1INTRODUCTION44
TABLE 2ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: IMPACT OF MARKET DYNAMICS45
5.2MARKET DYNAMICS46
FIGURE 18ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: MARKET DYNAMICS46
5.2.1DRIVERS46
5.2.1.1Low operating and maintenance costs46
5.2.1.2Government incentives and subsidies47
TABLE 3INDIA: GOVERNMENT INCENTIVES, BY STATE47
TABLE 4GOVERNMENT INCENTIVES, BY COUNTRY49
5.2.1.3Advancements in battery technology coupled with reducing prices49
FIGURE 19PRICE OF EV BATTERY PER KWH50
5.2.1.4Established market for 3-wheelers in urban transportation51
5.2.2RESTRAINTS51
5.2.2.1Lack of charging infrastructure51
TABLE 5INDIA: SPECIFICATIONS OF CHARGING INFRASTRUCTURE52
5.2.2.2Limited power output and vehicle range52
TABLE 6ELECTRIC 3-WHEELER RANGE52
5.2.3OPPORTUNITIES53
5.2.3.1Government support to promote electric 3-wheeler sales53
TABLE 7GOVERNMENT EV POLICY, BY COUNTRY53
5.2.3.2Stringent emission norms and environmental regulations54
TABLE 8KEY COUNTRIES: EMISSION REGULATION SPECIFICATIONS OVERVIEW,
BY FUEL TYPE, 2016–202154
5.2.3.3New revenue pockets in Asia Pacific55
5.2.4CHALLENGES55
5.2.4.1Limited battery capacity55
TABLE 9BATTERY CAPACITIES OF POPULAR ELECTRIC 3-WHEELER MODELS56
5.2.4.2High initial investments56
FIGURE 20AVERAGE TOTAL COST OF CONVENTIONAL VS ELECTRIC 3-WHEELERS (2022)56
5.2.4.3Lack of compatibility, interchangeability, and standardization57
5.3PORTER’S FIVE FORCES ANALYSIS57
FIGURE 21PORTER’S FIVE FORCES ANALYSIS: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET58
TABLE 10PORTER’S FIVE FORCES ANALYSIS58
5.3.1INTENSITY OF COMPETITIVE RIVALRY59
5.3.2THREAT OF NEW ENTRANTS59
5.3.3THREAT OF SUBSTITUTES59
5.3.4BARGAINING POWER OF SUPPLIERS59
5.3.5BARGAINING POWER OF BUYERS59
5.4MACROECONOMIC INDICATORS60
5.4.1GDP TRENDS AND FORECAST FOR MAJOR ASIA PACIFIC ECONOMIES60
TABLE 11GDP TRENDS AND FORECAST, BY MAJOR ASIA PACIFIC ECONOMIES,
2018–2026 (USD BILLION)60
5.5CASE STUDIES60
5.5.1ELECTRIC 3-WHEELER LOGISTICS FLEET OPERATION WITH CAPTIVE PLUG-IN CHARGING60
5.5.2ELECTRIC 3-WHEELER LOGISTICS FLEET OPERATION WITH BATTERY SWAPPING61
5.6TRENDS AND DISRUPTIONS61
FIGURE 22SHIFT OF FOCUS TOWARDS ELECTRIC 3-WHEELERS61
5.7REGULATORY OVERVIEW62
5.7.1INDIA62
TABLE 12INDIA REGULATORY FRAMEWORK: DIFFERENCE BETWEEN ROLE OF
E-RICKSHAW AND ELECTRIC AUTO RICKSHAW62
5.7.2CHINA63
5.8TECHNOLOGY OVERVIEW63
5.8.1BATTERY SWAPPING IN ELECTRIC 3-WHEELERS63
5.8.2IOT IN ELECTRIC 3-WHEELERS64
5.8.3REGENERATIVE BRAKING SYSTEMS64
5.8.4SMART CHARGING SYSTEMS65
5.9KEY STAKEHOLDERS & BUYING CRITERIA65
5.9.1KEY STAKEHOLDERS IN BUYING PROCESS66
TABLE 13INFLUENCE OF INSTITUTIONAL BUYERS (COMMERCIAL USAGE) IN BUYING ELECTRIC 3-WHEELERS66
5.9.2BUYING CRITERIA66
5.9.2.1Passenger carrier66
5.9.2.2Load carrier66
5.10DETAILED LIST OF CONFERENCES AND EVENTS67
TABLE 14ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: DETAILED LIST OF CONFERENCES AND EVENTS67
5.11LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS67
TABLE 15ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS67
5.12ECOSYSTEM ANALYSIS69
FIGURE 23ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: ECOSYSTEM ANALYSIS69
5.12.1OEMS69
5.12.2RAW MATERIAL SUPPLIERS69
5.12.3BATTERY MANUFACTURERS70
5.12.4CHARGING INFRASTRUCTURE PROVIDERS70
5.13SUPPLY CHAIN ANALYSIS70
TABLE 16ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: SUPPLY CHAIN70
FIGURE 24ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: SUPPLY CHAIN ANALYSIS71
5.13.1RAW MATERIAL SUPPLIERS71
5.13.2COMPONENT MANUFACTURERS72
5.13.3OEMS72
5.13.4END-USERS72
5.14AVERAGE SELLING PRICE72
TABLE 17OEM ELECTRIC 3-WHEELER PRICING ANALYSIS (USD)73
FIGURE 25LITHIUM-ION BATTERY PRICING ANALYSIS (USD/KWH)73
5.15PATENT ANALYSIS74
TABLE 18PATENT ANALYSIS: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET (ACTIVE PATENTS)74
5.16SCENARIO ANALYSIS (2022–2027)77
5.16.1ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: MOST LIKELY SCENARIO77
TABLE 19ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: MOST LIKELY SCENARIO,
BY COUNTRY, 2022–2027 (UNITS)77
5.16.2ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: OPTIMISTIC SCENARIO77
TABLE 20ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: OPTIMISTIC SCENARIO,
BY COUNTRY, 2022–2027 (UNITS)78
5.16.3ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: PESSIMISTIC SCENARIO78
TABLE 21ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: PESSIMISTIC SCENARIO,
BY COUNTRY, 2022–2027 (UNITS)78
5.17TRADE/SALES DATA79
5.17.1INDIA79
TABLE 22ICE 3-WHEELER PRODUCTION IN INDIA (THOUSAND UNITS)79
5.183-WHEELER EXPORT DATA79
5.18.1INDIA79
TABLE 233-WHEELER EXPORT (THOUSAND UNITS)79
6ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY CAPACITY80
6.1INTRODUCTION81
FIGURE 26BY BATTERY CAPACITY, 3-6 KWH SEGMENT ESTIMATED TO ACCOUNT FOR LARGEST MARKET SIZE IN 202281
TABLE 24ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY CAPACITY,
2018–2021 (UNITS)82
TABLE 25ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY CAPACITY,
2022–2027 (UNITS)82
6.1.1OPERATIONAL DATA83
TABLE 26ELECTRIC 3-WHEELER MODELS WITH BATTERY CAPACITY83
6.1.2ASSUMPTIONS83
6.1.3RESEARCH METHODOLOGY83
6.2BELOW 3 KWH84
6.2.1DEMAND FOR AFFORDABLE TRANSPORTATION TO DRIVE SEGMENT84
6.33–6 KWH84
6.3.1INCREASING DEMAND IN INTRACITY TRAVEL TO DRIVE SEGMENT84
6.4ABOVE 6 KWH85
6.4.1ADOPTION OF LOAD CARRIERS BY LOGISTIC COMPANIES TO DRIVE SEGMENT85
6.5KEY PRIMARY INSIGHTS85
FIGURE 27KEY PRIMARY INSIGHTS85
7ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY RANGE86
7.1INTRODUCTION87
FIGURE 28ABOVE 50 MILES SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD87
TABLE 27ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY RANGE,
2018–2021 (UNITS)88
TABLE 28ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY RANGE,
2022–2027 (UNITS)88
7.1.1OPERATIONAL DATA88
TABLE 29ASIA PACIFIC ELECTRIC 3-WHEELER MODELS, BY RANGE88
7.1.2ASSUMPTIONS89
TABLE 30ASSUMPTIONS: BY RANGE89
7.1.3RESEARCH METHODOLOGY89
7.2UP TO 50 MILES89
7.2.1DEMAND FOR AFFORDABLE ELECTRIC 3-WHEELERS TO DRIVE SEGMENT89
TABLE 31UP TO 50 MILES: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2018–2021 (UNITS)90
TABLE 32UP TO 50 MILES: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2022–2027 (UNITS)90
7.3ABOVE 50 MILES91
7.3.1INCREASING BATTERY ENERGY DENSITY TO DRIVE SEGMENT91
TABLE 33ABOVE 50 MILES: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET,
BY COUNTRY, 2018–2021 (UNITS)91
TABLE 34ABOVE 50 MILES: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET,
BY COUNTRY, 2022–2027 (UNITS)92
7.4KEY PRIMARY INSIGHTS92
FIGURE 29KEY PRIMARY INSIGHTS92
8ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY END-USE93
8.1INTRODUCTION94
FIGURE 30LOAD CARRIER SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD94
TABLE 35ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY END-USE,
2018–2021 (UNITS)95
TABLE 36ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY END-USE,
2022–2027 (UNITS)95
8.1.1OPERATIONAL DATA96
TABLE 37TOP-SELLING ELECTRIC 3-WHEELER MODELS, BY END-USE96
8.1.2ASSUMPTIONS96
TABLE 38ASSUMPTIONS: BY END-USE96
8.1.3RESEARCH METHODOLOGY96
8.2PASSENGER CARRIER97
8.2.1NEED FOR LOWER EMISSIONS AND OPERATIONAL COSTS TO DRIVE SEGMENT97
TABLE 39PASSENGER CARRIER: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET,
BY COUNTRY, 2018–2021 (UNITS)97
TABLE 40PASSENGER CARRIER: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET,
BY COUNTRY, 2022–2027 (UNITS)98
8.3LOAD CARRIER98
8.3.1GROWING ADOPTION BY LOGISTICS COMPANIES TO DRIVE SEGMENT98
TABLE 41LOAD CARRIER: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2018–2021 (UNITS)99
TABLE 42LOAD CARRIER: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2022–2027 (UNITS)99
8.4KEY PRIMARY INSIGHTS100
FIGURE 31KEY PRIMARY INSIGHTS100

9ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER101
9.1INTRODUCTION102
FIGURE 321,000–1,500 W SEGMENT EXPECTED TO GARNER LARGEST MARKET SHARE DURING FORECAST PERIOD102
TABLE 43ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2018–2021 (UNITS)102
TABLE 44ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2022–2027 (UNITS)103
9.1.1OPERATIONAL DATA103
TABLE 45POPULAR ELECTRIC 3-WHEELER MODELS, BY MOTOR POWER103
FIGURE 33ELECTRIC 3-WHEELER POWERTRAIN ARCHITECTURE104
TABLE 46FACTORS DECIDING MOTOR POWER OF ELECTRIC 3-WHEELERS104
9.1.2ASSUMPTIONS105
TABLE 47ASSUMPTIONS: BY MOTOR POWER105
9.1.3RESEARCH METHODOLOGY105
9.2BELOW 1,000 W105
9.2.1RISING DEMAND FOR ENERGY-EFFICIENT MODES OF COMMUTING TO BOOST SEGMENT105
TABLE 48BELOW 1,000 W: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2018–2021 (UNITS)106
TABLE 49BELOW 1,000 W: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2022–2027 (UNITS)106
9.31,000–1,500 W107
9.3.1MOTOR POWER OF 1000–1,500 W MORE FEASIBLE FOR ELECTRIC 3-WHEELER APPLICATIONS107
TABLE 501,000–1,500 W: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2018–2021 (UNITS)107
TABLE 511,000–1,500 W: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2022–2027 (UNITS)108
9.4ABOVE 1,500 W108
9.4.1ELECTRIC 3-WHEELERS WITH ABOVE 1,500 W MOTOR PROVIDE BOTH DISTRIBUTION AND CONSUMER DELIVERY SERVICES108
TABLE 52ABOVE 1,500 W: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2018–2021 (UNITS)109
TABLE 53ABOVE 1,500 W: ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY, 2022–2027 (UNITS)109
9.5KEY PRIMARY INSIGHTS110
FIGURE 34KEY PRIMARY INSIGHTS110
10ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY TYPE111
10.1INTRODUCTION112
FIGURE 35BY BATTERY TYPE, LITHIUM-ION BATTERY SEGMENT PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD112
TABLE 54ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY TYPE,
2018–2021 (UNITS)113
TABLE 55ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY BATTERY TYPE,
2022–2027 (UNITS)113
10.1.1OPERATIONAL DATA114
TABLE 56ELECTRIC 3-WHEELER MODELS WITH BATTERY TYPE114
10.1.2ASSUMPTIONS114
TABLE 57ASSUMPTIONS: BY BATTERY TYPE114
10.1.3RESEARCH METHODOLOGY115
TABLE 58MARKET SHARE: TOP ELECTRIC VEHICLE BATTERY MANUFACTURERS (2021)115
10.2LEAD-ACID BATTERY115
10.2.1HIGH ADOPTION OF LEAD-ACID BATTERIES DUE TO LOW COST TO DRIVE MARKET115
10.3LITHIUM-ION BATTERY116
10.3.1HIGH ENERGY DENSITY OF LITHIUM-ION BATTERIES DRIVING THEIR DEMAND116
10.4OTHERS117
10.4.1LOWER MANUFACTURING COSTS TO DRIVE MARKET FOR OTHER BATTERY SEGMENTS117
TABLE 59LIST OF BATTERY MANUFACTURERS, BY BATTERY TYPE118
10.5KEY PRIMARY INSIGHTS118
FIGURE 36KEY PRIMARY INSIGHTS118
11ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY119
11.1INTRODUCTION120
FIGURE 37300–500 KG SEGMENT ESTIMATED TO LEAD MARKET DURING FORECAST PERIOD120
TABLE 60ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY,
2018–2021 (UNITS)120
TABLE 61ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY,
2022–2027 (UNITS)121
TABLE 62INDIA ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY,
2018–2021 (UNITS)121
TABLE 63INDIA ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY,
2022–2027 (UNITS)121
11.1.1OPERATIONAL DATA122
TABLE 64POPULAR ELECTRIC 3-WHEELER MODELS, BY PAYLOAD CAPACITY122
11.1.2ASSUMPTIONS122
TABLE 65ASSUMPTIONS: BY PAYLOAD CAPACITY122
11.1.3RESEARCH METHODOLOGY123
11.2UP TO 300 KG123
11.2.1RISING DEMAND FOR AFFORDABLE ELECTRIC 3-WHEELERS DRIVES MARKET123
11.3300–500 KG123
11.3.1ELECTRIC 3-WHEELERS WITH 300–500 KG PAYLOAD CAPACITY GENERALLY USED FOR LAST-MILE DELIVERY123

11.4ABOVE 500 KG124
11.4.1ELECTRIC 3-WHEELERS WITH ABOVE 500 KG PAYLOAD CAPACITY USED FOR LONG-DISTANCE TRANSPORTATION AND LOGISTICS124
11.5KEY PRIMARY INSIGHTS124
FIGURE 38KEY PRIMARY INSIGHTS124
12ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY125
12.1INTRODUCTION126
FIGURE 39INDIA ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 2022127
FIGURE 40INDIA EXPECTED TO LEAD MARKET DURING FORECAST PERIOD127
TABLE 66ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY,
2018–2021 (UNITS)128
TABLE 67ASIA PACIFIC ELECTRIC 3-WHEELER MARKET, BY COUNTRY,
2022–2027 (UNITS)128
12.1.1INDIA129
12.1.1.1Increasing trend of last-mile delivery to boost market129
TABLE 68INDIA: GOVERNMENT SUBSIDIES & INCENTIVES, BY STATE129
TABLE 69COMPANIES ADOPTING ELECTRIC 3-WHEELER LOAD CARRIERS131
TABLE 70DEVELOPMENTS REGARDING BATTERY SWAPPING STATIONS132
TABLE 71INDIA: TOP SELLING OEMS IN ELECTRIC 3-WHEELER MARKET133
TABLE 72INDIA: ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY,
2018–2021 (UNITS)134
TABLE 73INDIA: ELECTRIC 3-WHEELER MARKET, BY PAYLOAD CAPACITY,
2022–2027 (UNITS)134
TABLE 74INDIA: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)134
TABLE 75INDIA: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)134
TABLE 76INDIA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2018–2021 (UNITS)135
TABLE 77INDIA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2022–2027 (UNITS)135
TABLE 78INDIA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)135
TABLE 79INDIA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)135
12.1.2JAPAN136
12.1.2.1Stringent emission standards in Japan to drive market136
TABLE 80JAPAN: TARGET FOR ADOPTION OF ELECTRIC VEHICLES137
TABLE 81JAPAN: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)137
TABLE 82JAPAN: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)137
TABLE 83JAPAN: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2018–2021 (UNITS)137
TABLE 84JAPAN: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2022–2027 (UNITS)138
TABLE 85JAPAN: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)138
TABLE 86JAPAN: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)138

12.1.3THAILAND139
12.1.3.1Increasing demand for lower maintenance 3-wheelers to drive market139
TABLE 87THAILAND: TARGET FOR ELECTRIC VEHICLE ADOPTION (2021-2030)139
TABLE 88THAILAND: ELECTRIC 3-WHEELER MARKET, BY END-USE,
2018–2021 (UNITS)139
TABLE 89THAILAND: ELECTRIC 3-WHEELER MARKET, BY END-USE,
2022–2027 (UNITS)140
TABLE 90THAILAND: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2018–2021 (UNITS)140
TABLE 91THAILAND: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2022–2027 (UNITS)140
TABLE 92THAILAND: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)140
TABLE 93THAILAND: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)141
12.1.4BANGLADESH141
12.1.4.1Favorable government policies to drive market141
TABLE 94BANGLADESH: ELECTRIC 3-WHEELER DEVELOPMENTS142
TABLE 95BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY END-USE,
2018–2021 (UNITS)142
TABLE 96BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY END-USE,
2022–2027 (UNITS)142
TABLE 97BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2018–2021 (UNITS)143
TABLE 98BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2022–2027 (UNITS)143
TABLE 99BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY RANGE,
2018–2021 (UNITS)143
TABLE 100BANGLADESH: ELECTRIC 3-WHEELER MARKET, BY RANGE,
2022–2027 (UNITS)143
12.1.5NEPAL144
12.1.5.1Developments in charging infrastructure to drive market144
TABLE 101NEPAL: POLICY FOR ADOPTION OF ELECTRIC VEHICLES144
TABLE 102NEPAL: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2018–2021 (UNITS)145
TABLE 103NEPAL: ELECTRIC 3-WHEELER MARKET, BY END-USE, 2022–2027 (UNITS)145
TABLE 104NEPAL: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2018–2021 (UNITS)145
TABLE 105NEPAL: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2022–2027 (UNITS)145
TABLE 106NEPAL: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)146
TABLE 107NEPAL: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)146
12.1.6SRI LANKA147
12.1.6.1Growing demand from tourism industry to drive market147
TABLE 108SRI LANKA: LITHIUM-ION BATTERY IMPORTERS, 2021147
TABLE 109SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY END-USE,
2018–2021 (UNITS)147
TABLE 110SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY END-USE,
2022–2027 (UNITS)148
TABLE 111SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2018–2021 (UNITS)148
TABLE 112SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2022–2027 (UNITS)148
TABLE 113SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)148
TABLE 114SRI LANKA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)149
12.1.7INDONESIA149
12.1.7.1Reduction of import duties on components to drive market149
TABLE 115INDONESIA: POLICY FOR ADOPTION OF ELECTRIC VEHICLES150
TABLE 116INDONESIA: ELECTRIC 3-WHEELER MARKET, BY END-USE,
2018–2021 (UNITS)150
TABLE 117INDONESIA: ELECTRIC 3-WHEELER MARKET, BY END-USE,
2022–2027 (UNITS)150
TABLE 118INDONESIA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2018–2021 (UNITS)150
TABLE 119INDONESIA: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2022–2027 (UNITS)151
TABLE 120INDONESIA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2018–2021 (UNITS)151
TABLE 121INDONESIA: ELECTRIC 3-WHEELER MARKET, BY RANGE, 2022–2027 (UNITS)151
12.1.8PHILIPPINES152
12.1.8.1Adoption of electric 3-wheelers in major business districts and urban areas to drive market152
TABLE 122PHILIPPINES: TARGET FOR ELECTRIC VEHICLES152
TABLE 123PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY END-USE,
2018–2021 (UNITS)152
TABLE 124PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY END-USE,
2022–2027 (UNITS)152
TABLE 125PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2018–2021 (UNITS)153
TABLE 126PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY MOTOR POWER,
2022–2027 (UNITS)153
TABLE 127PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY RANGE,
2018–2021 (UNITS)153
TABLE 128PHILIPPINES: ELECTRIC 3-WHEELER MARKET, BY RANGE,
2022–2027 (UNITS)153
12.1.9VIETNAM154
12.1.9.1Favorable government policies for electric vehicles to drive market154
TABLE 129VIETNAM: ELECTRIC 3-WHEELER MANUFACTURERS154
12.1.10CHINA154
12.1.10.1Government mandates for electric vehicle manufacturers to drive electric 3-wheeler market154
TABLE 130CHINA: ELECTRIC VEHICLE BATTERY MANUFACTURERS155
12.1.11SINGAPORE156
12.1.11.1Increasing charging infrastructure to drive market156
TABLE 131SINGAPORE: TARGET FOR ELECTRIC VEHICLES156

13COMPETITIVE LANDSCAPE157
13.1OVERVIEW157
13.2MARKET SHARE ANALYSIS FOR ASIA PACIFIC ELECTRIC 3-WHEELER MARKET157
TABLE 132MARKET SHARE ANALYSIS, 2021157
FIGURE 41MARKET SHARE ANALYSIS, 2021158
13.2.1MAHINDRA & MAHINDRA LTD.158
13.2.2ATUL AUTO LTD.159
13.2.3PIAGGIO GROUP159
13.2.4LOHIA AUTO INDUSTRIES159
13.2.5KINETIC ENGINEERING LIMITED159
13.3KEY PLAYER STRATEGIES160
TABLE 133OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN ASIA PACIFIC ELECTRIC 3-WHEELER MARKET160
13.4REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS161
FIGURE 42TOP PUBLIC/LISTED PLAYERS DOMINATING ASIA PACIFIC ELECTRIC 3-WHEELER MARKET DURING LAST FIVE YEARS161
13.5COMPETITIVE SCENARIO161
13.5.1NEW PRODUCT LAUNCHES162
TABLE 134NEW PRODUCT LAUNCHES, 2018-2022162
13.5.2DEALS163
TABLE 135DEALS, 2018–2022163
13.6COMPANY EVALUATION QUADRANT163
13.6.1STARS164
13.6.2EMERGING LEADERS164
13.6.3PERVASIVE164
13.6.4PARTICIPANTS164
FIGURE 43ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: COMPANY EVALUATION QUADRANT, 2021165
TABLE 136ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: COMPANY FOOTPRINT, 2021166
TABLE 137ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: PRODUCT FOOTPRINT, 2021166
TABLE 138ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: COUNTRY FOOTPRINT, 2021167
13.7START-UP/SME EVALUATION QUADRANT167
13.7.1PROGRESSIVE COMPANIES167
13.7.2RESPONSIVE COMPANIES167
13.7.3DYNAMIC COMPANIES167
13.7.4STARTING BLOCKS168
FIGURE 44ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: START-UP/SME EVALUATION QUADRANT, 2021168
TABLE 139ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: DETAILED LIST OF KEY START-UPS/SMES169
TABLE 140ASIA PACIFIC ELECTRIC 3-WHEELER MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [START-UPS/SMES]170

13.8RIGHT TO WIN, 2018-2022171
TABLE 141WINNERS VS. TAIL-ENDERS171
14COMPANY PROFILES172
(Business overview, Products offered, Recent developments & MnM View)*
14.1KEY PLAYERS172
14.1.1MAHINDRA & MAHINDRA LTD.172
TABLE 142MAHINDRA & MAHINDRA LTD.: BUSINESS OVERVIEW172
FIGURE 45MAHINDRA & MAHINDRA LTD.: COMPANY SNAPSHOT173
FIGURE 46MAHINDRA & MAHINDRA LTD.: MANUFACTURING PLANTS IN INDIA174
TABLE 143MAHINDRA & MAHINDRA LTD.: PRODUCTS OFFERED174
TABLE 144MAHINDRA & MAHINDRA LTD.: NEW PRODUCT DEVELOPMENTS175
TABLE 145MAHINDRA & MAHINDRA LTD: DEALS175
14.1.2ATUL AUTO LTD.177
TABLE 146ATUL AUTO LTD.: BUSINESS OVERVIEW177
FIGURE 47ATUL AUTO LTD.: COMPANY SNAPSHOT178
TABLE 147ATUL AUTO LTD.: PRODUCTS OFFERED178
TABLE 148ATUL AUTO LTD.: DEALS179
TABLE 149ATUL AUTO LTD.: OTHERS179
14.1.3PIAGGIO GROUP181
TABLE 150PIAGGIO GROUP: BUSINESS OVERVIEW181
FIGURE 48PIAGGIO GROUP: COMPANY SNAPSHOT182
FIGURE 49PIAGGIO GROUP: WORKFORCE DISTRIBUTION182
TABLE 151PIAGGIO GROUP: PRODUCTS OFFERED183
TABLE 152PIAGGIO GROUP: NEW PRODUCT DEVELOPMENTS183
TABLE 153PIAGGIO GROUP: DEALS184
14.1.4LOHIA AUTO INDUSTRIES186
TABLE 154LOHIA AUTO INDUSTRIES: BUSINESS OVERVIEW186
TABLE 155LOHIA AUTO INDUSTRIES: PRODUCTS OFFERED186
TABLE 156LOHIA AUTO INDUSTRIES: NEW PRODUCT DEVELOPMENTS187
14.1.5KINETIC ENGINEERING LIMITED189
TABLE 157KINETIC ENGINEERING LIMITED: BUSINESS OVERVIEW189
FIGURE 50KINETIC ENGINEERING LIMITED: COMPANY SNAPSHOT189
TABLE 158KINETIC ENGINEERING LIMITED: PRODUCTS OFFERED190
TABLE 159KINETIC ENGINEERING LIMITED: NEW PRODUCT DEVELOPMENTS190
TABLE 160KINETIC ENGINEERING LIMITED: DEALS191
TABLE 161KINETIC ENGINEERING LIMITED: OTHERS191
14.1.6JIANGSU JINPENG GROUP CO., LTD.193
TABLE 162JIANGSU JINPENG GROUP CO., LTD.: BUSINESS OVERVIEW193
TABLE 163JIANGSU JINPENG GROUP CO., LTD.: PRODUCTS OFFERED193
TABLE 164JIANGSU JINPENG GROUP CO., LTD.: DEALS194
TABLE 165JIANGSU JINPENG GROUP CO., LTD.: OTHERS194
14.1.7SKYRIDE AUTOMOTIVE195
TABLE 166SKYRIDE AUTOMOTIVE: BUSINESS OVERVIEW195
TABLE 167SKYRIDE AUTOMOTIVE: PRODUCTS OFFERED195
14.1.8SHADO GROUP INTERNATIONAL PTE. LTD.197
TABLE 168SHADO GROUP INTERNATIONAL PTE. LTD.: BUSINESS OVERVIEW197
TABLE 169SHADO GROUP INTERNATIONAL PTE. LTD.: PRODUCTS OFFERED197
TABLE 170SHADO GROUP INTERNATIONAL PTE. LTD.: NEW PRODUCT DEVELOPMENTS198
TABLE 171SHADO GROUP INTERNATIONAL PTE. LTD.: OTHERS198
14.1.9BEEVATECH LIMITED199
TABLE 172BEEVATECH LIMITED: BUSINESS OVERVIEW199
TABLE 173BEEVATECH LIMITED: PRODUCTS OFFERED199
14.1.10SL MOBILITY200
TABLE 174SL MOBILITY: BUSINESS OVERVIEW200
TABLE 175SL MOBILITY: PRODUCTS OFFERED200
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
14.2OTHER PLAYERS201
14.2.1TERRA MOTORS CORPORATION201
14.2.2CHANGZHOU YUFENG VEHICLE CO., LTD.201
14.2.3XIANGHE QIANGSHENG ELECTRIC TRICYCLE FACTORY202
14.2.4JIANGSU EAST YONSLAND VEHICLE MANUFACTURING CO., LTD.202
14.2.5ELECTRIC VEHICLES (THAILAND) CO., LTD.203
14.2.6PROZZA HIROSE MANUFACTURING INC.203
14.2.7BAJAJ AUTO204
14.2.8GAYAM MOTOR WORKS PRIVATE LIMITED204
14.2.9BEMAC CORPORATION205
14.2.10SPEEGO VEHICLES CO. PVT. LIMITED205
14.2.11OMEGA SEIKI PRIVATE LIMITED206
14.2.12KSL CLEANTECH LIMITED206
14.2.13ALTIGREEN207
14.2.14GREEN SHUTTLE TECHNOLOGY PVT. LTD.207
14.2.15KAWAOKA MACHINERY AND ELECTRIC (NANTONG) CO., LTD.208
15RECOMMENDATIONS BY MARKETSANDMARKETS209
15.1INDIA IS KEY FOCUS MARKET FOR ELECTRIC 3-WHEELERS209
15.2INCREASING POPULATION AND DEMAND FOR SHARED MOBILITY TO DRIVE PASSENGER CARRIER SEGMENT209
15.3CONCLUSION210

16APPENDIX211
16.1KEY INSIGHTS FROM INDUSTRY EXPERTS211
16.2DISCUSSION GUIDE211
16.3KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL214
16.4AVAILABLE CUSTOMIZATIONS216
16.5RELATED REPORTS216
16.6AUTHOR DETAILS217

Report Title: Asia Pacific Electric 3-Wheeler Market by End-use (Passenger & Load), Range (Upto 50 Miles & Above 50 Miles), Battery type (Lead Acid & Lithium ion), Battery Capacity (Below 3kWh, 3-6kWh, Above 6kWh), Motor Power, Payload Capacity - Forecast to 2027


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