Electric Mobility Industry Data Book Covers Two-Wheeler, Three-Wheeler and Light Commercial Vehicles Markets.
The global Electric Mobility Industry size was estimated at USD 101.67 billion in 2022. The market is expected to expand at a CAGR of 19.9% CAGR (2023-2030).
Electric Three Wheeler Market Growth & Trends
The global electric three wheeler market size is expected to reach USD 1.57 billion by 2030 with a CAGR growth of 7.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. The market growth of electric three wheelers is attributed to factors such as the increasing inclination towards electric vehicles as a sustainable, and efficient alternative for public commuting. The increasing carbon emission level in the environment by fossil fuel-powered conventional vehicles has become a significant concern for governmental and environmental organizations. This has resulted in electric three-wheeler vehicles being perceived as a solution to reduce carbon emissions caused by conventional three wheelers. In addition to this, increasing traffic congestion and rising fuel prices across regions have further propelled the market of electric three wheelers as passenger carriers.
Electric three wheeler is emerging as an affordable option for fossil fuel-based commercial vehicles that are encouraging market growth. In developing countries of Africa and the Asia Pacific, electric three wheelers are a suitable option for last-mile deliveries and commercial use owing to their advantages, such as door-to-door accessibility, maneuverability, and affordability. E-commerce companies such as Amazon and Flipkart have partnered with major manufacturers such as Mahindra Electric Mobility Limited for the use of electric three wheeler fleets for last-mile delivery. The e-commerce giants are planning to deploy more fleets in the coming years.
The Asia Pacific region is anticipated to show significant market growth due to the presence of major markets such as India and China. Both countries have a higher concentration of middle and lower-income populations where electric three wheelers are an economical option for last-mile and daily commutes. Furthermore, government initiatives in these countries, such as FAME and PLI, have given manufacturers and end-users benefits such as tax subsidies and discounts. The benefits based on these scheme parameters have made the production of electric three wheelers and purchasing electric three-wheelers more affordable.
Access the Global Electric Mobility Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Key players operating in the electric mobility industry are –
- AIMA Technology Group Co. Ltd.
- Bird Rides Inc.
- Hero Electric
- Jiangsu Xinri E-Vehicle Co. Ltd.
- Okinawa Autotech Internationall Private Limited
- Rad Power Bikes Inc.
- Yadea Technology Group Co. Ltd.
- Yamaha Motor Co. Ltd.
- Zero Motorcycles, Inc.
Order your copy of the Free Sample of “Electric Mobility Industry Data Book - Two-Wheeler, Three-Wheeler and Light Commercial Vehicles Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Grand View Research’s electric mobility industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research. Surge in the adoption of EVs, especially e-scooters among the youth, light commercial vehicles for rapid transportation with reduced carbon footprints and increasing purchasing capacity across the globe are expected to significantly increase the demand for E- mobility, thereby supporting the market growth.
Go through the table of content of Electric Mobility Industry Data Book to get a better understanding of the Coverage & Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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