Global Three-wheeler Market Research Report and Forecast

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Global Three-wheeler

Market Research Report

and Forecast 2021-2026

Author: Elena Anderson,

Marketing Manager |

IMARC Group

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Report Description

About

IMARC Group

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Report Description

Report Description and Highlights

Global Three-Wheeler Market Outlook 2026:

According to the latest report by IMARC Group, titled "Three-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global three-wheeler market grew at a CAGR of around 12% during 2015-2020.

Three-wheelers are a mode of public transportation that can be powered by fuel or electric charge. These vehicles with four to six-seaters are commonly used for transporting carrier loads or passengers in a cost-efficient manner.

Widely used by the masses for traveling short distances, they offer a compact design, lower emissions, reduced noise and improved fuel efficiency. They also require little to no maintenance as compared to other heavy- to medium-duty automobiles.

The electric three-wheeler variants equipped with an electric motor and powered by rechargeable batteries are widely gaining popularity as they minimize vehicular emission and are eco-friendly in nature.

Request for a free sample report: https://www.imarcgroup.com/three-wheeler-market/requestsample

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Global Three-Wheeler Market Trends :

The global market is primarily driven by the increasing need for public transportation modes across the globe, especially in developing economies.

Rising population growth and the increasing number of middle-income households across developing regions that heavily depend upon public transports for their daily commutation have impelled the need for cost-efficient yet reliable transportation solutions, such as three-wheelers.

Apart from this, a considerable increase in oil prices and the escalating environmental concerns among the masses regarding the significant rise in greenhouse gases (GHG) emissions from diesel- or gasoline-powered vehicles have resulted in an increased uptake of three-wheelers that run on alternative fuels. CNG and LPG-driven three-wheelers are consequently gaining widespread prominence on the global level, thereby providing an impetus to the market growth.

The market is further driven by the continual developments in the charging infrastructure of electric three-wheelers. These vehicles are now being integrated with plug-in charging options that offer enhanced convenience to the drivers.

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Other factors, such as the widespread adoption of these automobiles across the logistics sector for transporting goods to remote locations and the numerous initiatives undertaken by various

government bodies to promote the adoption of electric three-wheelers, are also contributing to the market growth.

Market Summary:

Breakup by Vehicle Type: •Passenger Carrier •Load Carrier

Breakup by Passenger vehicle: •4-seater

•6-seater

Breakup by fuel type: •Petrol/CNG •Diesel

•Electric

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Breakup by Region: • South America • Africa

• Asia-Pacific

On account of the aforementioned factors, the market is expected to witness strong growth during 2021-2026.

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Competitive Landscape With Keyplayer: • Bajaj Auto Limited

• TVS Motor Company Limited • Mahindra & Mahindra Limited • Piaggio & C. S.p.A.

• Scooters India Limited • Atul Auto Limited • Kinetic Green

• ChongQing Zongshen Tricycle Manufacturing Co. Ltd.

View Report TOC, Figures and Tables : https://www.imarcgroup.com/three-wheeler-market

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A partial List of our Clients

We are the trusted business partners to theworld's leading corporates, governments, and institutions

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A partial List of our Clients

We are the trusted business partners to theworld's leading corporates, governments, and institutions

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Report Description

Report Description and Highlights

This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC).

Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been

based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication.

IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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