Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Electric Three-Wheeler Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Are the Key Forecast Insights for the Electric Three-Wheeler Market Growth?
The market size of the electric three-wheeler has significantly expanded in the past years. The market value, which was $3.3 billion in 2024, is projected to increase to $3.66 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 10.9%.
What Is the Predicted Industry Size and CAGR of the Electric Three-Wheeler Market in 2029?
The anticipated market size for the Electric Three-Wheeler Global Market Report in 2029 is projected to be $5.42 billion. This represents a compound annual growth rate (CAGR) of 10.3%.
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Which Factors Are Driving Growth in the Electric Three-Wheeler Market?
The key drivers in the electric three-wheeler market are:
• Expansion of charging infrastructure for electric vehicles
• Cost competitiveness of electric three-wheelers
• Increase in e-commerce and last-mile deliveries
• Global transition towards electrification of vehicles
Which Segment Trends Are Covered in the Electric Three-Wheeler Market Forecast?
The electric three-wheeler market covered in this report is segmented –
1) By Vehicle: Passenger Carrier, Load Carrier
2) By Battery: Lithium-Ion, Nickel-Metal Hydride, Lead Acid, Other Types
3) By Power Capacity: Up to 1000 W, 1000 W To 1500 W, Above 1500 W
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What Are the Current Market Trends in the Electric Three-Wheeler Industry?
The key trends in the electric three-wheeler market are:
• The introduction of affordable models is becoming a leading trend in the market.
• There is an emerging trend of subscription-based mobility services.
• A key trend shaping the market is the focus on improving ergonomics and comfort in electric three-wheelers.
• Modular and versatile designs, and smart and connected vehicle features are becoming increasingly prevalent trends.
Who are the Key Companies in the Electric Three-Wheeler Market?
Major players in the electric three-wheeler market are:
• Bajaj Auto Limited
• Bodo Vehicle Group Co Ltd.
• TVS Motor Company
• Piaggio Group
• Chongqing Zongshen Vehicle Co. Ltd.
• Electrotherm Ltd.
• Adapt Motors
• Euler Motors
• Hero Electric Vehicles Pvt Ltd.
• Okinawa Autotech International Private Limited
• Altigreen
• Terra Motors Corporation
• Mahindra Electric Mobility Limited
• ATUL Auto Limited
• Sazgar Engineering Works Limited
• Kinetic Green Energy & Power Solution Ltd.
• JS Auto Pvt. Ltd.
• Omega Seiki Private Limited
• Kabira Mobility Pvt. Ltd
• Lohia Auto Industries Ltd.
• E-Tuk Factory BV
• Avan Motors
• Jiangsu Kingbon Vehicle Co Ltd.
• Changzhou Yufeng Vehicle Co Ltd.
• Jiangsu East Yonsland Vehicle Manufacturing Co Ltd.
• Goenka Electric Motor Vehicles Pvt Ltd.
• Scooters India Limited
• Tunwal E Vehicles Pvt Ltd.
• Gemopai Electric
• Biliti Electric Inc.
What are the Regional Trends Across the Electric Three-Wheeler Market?
Asia-Pacific was the largest region in the electric three-wheeler market in 2024 and is expected to be the fastest-growing region in the forecast period
