Global Electric Three-Wheeler Market to Grow at a CAGR of 17.3% by 2021: Driven by Expansion by Local Manufacturers to Foreign Countries

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24 Aug, 2017, 21:00 GMT

DUBLIN, August 24, 2017 /PRNewswire/ --

The "Global Electric Three-Wheeler Market 2017-2021" report has been added to Research and Markets' offering.

The global electric three-wheeler market is forecast to grow at a CAGR of 17.3% during the period 2017-2021.

The report, Global Electric Three-Wheeler Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.

The latest trend gaining momentum in the market is the expansion by local manufacturers to foreign countries. Most of the electric 3Ws available in India, Sri Lanka, Bangladesh, and Indonesia have been assembled only in those countries, but the vehicle parts have been imported mainly from China as completely knocked down units, which has resulted in an increase in vehicle cost. OEMs in Japan and China have been expanding their operations to potential market countries, which would bring down the cost of the vehicle and eventually increase charging infrastructure and service facilities.

According to the report, one of the major drivers for this market is subsidies and tax incentives on electric 3Ws to reduce dependency on petroleum products. To nullify the fuel emission and consumption problems, regulatory bodies across the globe are providing various incentives and tax benefits to increase the adoption of environment-friendly vehicles. Almost all top vehicle market countries have introduced fiscal incentives and subsidies to attract manufacturers to produce more hybrid/electric vehicles locally. In addition, tax credits and rebates are attracting more local end users to purchase EVs. This drive will push for at least 60% green vehicles on the road by 2020, which will reduce fuel emissions and reduce dependency on petroleum products.

Key vendors

  • Atul Auto
  • Lohia Auto Industries
  • Romai Electric Vehicles
  • Scooters India
  • Xianghe Qiangsheng Electric Tricycle Factory

Other prominent vendors

  • Ampere Vehicles
  • Bajaj Auto
  • Kinetic Green
  • Terra Motors
  • Tuk Tuk Factory

Key Topics Covered:

Part 01:Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By End User

Part 07: Geographical Segmentation

Part 08: Decision Framework

Part 09: Drivers And Challenges

Part 10: Market Trends

Part 11: Vendor Landscape

Part 12: Key Vendor Analysis

Part 13: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/mkn5fn/global_electric

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