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Asia-Pacific Electric Three-Wheeler Market by Vehicle, by Motor Power, by Battery, by Geography - Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023

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    Report

  • 70 Pages
  • October 2018
  • Region: Asia Pacific
  • Prescient & Strategic Intelligence Private Limited
  • ID: 4749597
The APAC electric three-wheeler market is projected to reach $11,935.1 million by 2023, the growth of the market is predominantly driven by the low ownership cost of electric three-wheelers, falling battery prices, and favourable government policies and support.

On the basis of vehicle, the APAC electric three-wheeler market can be classified into passenger carrier and load carrier. The passenger carrier category recorded higher sales between the two and is expected to continue being the leading category in the market during the forecast period, much of which can be owed to the demand for low-cost shared mobility and the presence of large consumer base in the region. However, it is the load carrier category that is expected to grow faster during the forecast period, owing to the growing e-commerce industry and low operational cost of electric load carrier as compared to the conventional fuel-based load carrier.

Based on the motor power, the APAC electric three-wheeler market can be categorized into electric three-wheelers of less than 1,000 W, 1,000-1,500 W, and more than 1,500 W motor power. Electric three-wheelers with motor power lying in the range 1,000-1,500 W dominated the market in terms of sales volume in 2017, as it held a market share of over 50%. Also, in the APAC region, majority of the electric three-wheelers come equipped with the motors lying in the range 1,000-1,500 W due to their operational cost benefits. However, because of the growing demand for high-speed electric three-wheelers and entry of conventional fuel-based three-wheeler manufacturers into the electric three-wheeler market, the market for electric three-wheelers equipped with higher motor power is poised to grow during the forecast period.

The battery-powered electric three-wheelers are cost effective as compared to their conventional gasoline-based three-wheelers. It is so because the electric three-wheelers use stored electric charge as the fuel, which costs lesser than the gasoline (price per kilometer). The operational cost of electric three-wheeler is approximately six times lesser than a gasoline and diesel counterpart. Moreover, the electric three-wheelers have fewer moving parts, and therefore, there is lesser break or wear out of the components. It is the reason why the maintenance costs for these vehicles are significantly lesser than their conventional counterparts. With the aforementioned factors taken into account, the ownership cost of an electric three-wheeler is much lesser than that of conventional gasoline three-wheeler, which is driving the growth of the APAC electric three-wheeler market.

The fuel stations required for the conventional petrol/diesel-based three-wheelers are there in an adequate number as compared to the battery-powered electric three-wheelers. At present, the charging infrastructure growth for electric three-wheelers is poor in many Asian countries such as India and Bangladesh. Much of which can be attributed to the lack of proper guidelines for state-run agencies which are responsible for floating the tenders for charging stations.

For instance, in September 2017, the Energy Efficiency Services Limited (EESL), an energy service company of the Government of India, floated a tender for 4,000 EV charging stations, which was scrapped on the grounds of lack of clarity in terms of specifications and charger testing criteria. Also, in Bangladesh, the demand for excess power for charging stations has hindered the installation of charging stations. To supply the excess power, the national grid in the country has to provide over 500 MW daily, thus, creating a burden on the national grid and interrupting the installation of more charging stations in the country. Therefore, it can be said that the inadequate charging infrastructure is hindering the growth of the APAC electric three-wheeler market.

Some of the key manufacturers in the APAC electric three-wheeler market are Terra Motors Corporation, Xianghe Qiangsheng Electric Tricycle Factory, Jiangsu Kingbon Vehicle Co. Ltd., Changzhou Yufeng Vehicle Co. Ltd., Kinetic Green Energy & Power Solutions Ltd., Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd., ATUL Auto Ltd., and Lohia Auto Industries.

Table of Contents

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Vehicle
1.3.2 Market Segmentation by Motor Power
1.3.3 Market Segmentation by Battery
1.3.4 Market Segmentation by Country
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.3.6.2 Volume
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By country
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Vehicle
4.1.1.1 Passenger carrier
4.1.1.2 Load carrier
4.1.2 By Motor Power
4.1.2.1 < 1,000 W
4.1.2.2 1,000-1,500 W
4.1.2.3 >1,500 W
4.1.3 By Battery
4.1.3.1 SLA
4.1.3.2 Li-ion
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Emergence of Li-ion battery-powered electric three-wheelers in the region
4.3.2 Drivers
4.3.2.1 Low ownership cost
4.3.2.2 Government support and environmental regulations
4.3.2.3 Declining battery prices
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Long charging time
4.3.3.2 Inadequate infrastructure
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Emergence of electric three-wheelers in developing economies
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Intensity of Rivalry
4.4.4 Threat of New Entrants
4.4.5 Threat of Substitutes
Chapter 5. APAC Market Size and Forecast
5.1 By Vehicle
5.2 By Motor Power
5.3 By Battery
5.4 By Country
Chapter 6. Competitive Landscape
6.1 Market Share Analysis of Key Players
6.2 Competitive Benchmarking of Key Players
6.3 Strategic Developments of Key Players
Chapter 7. Company Profiles
7.1 Terra Motors Corporation
7.1.1 Business Overview
7.1.2 Product and Service Offerings
7.2 Changzhou Yufeng Vehicle Co. Ltd.
7.2.1 Business Overview
7.2.2 Product and Service Offerings
7.3 Xianghe Qiangsheng Electric Tricycle Factory
7.3.1 Business Overview
7.3.2 Product and Service Offerings
7.4 Jiangsu Kingbon Vehicle Co. Ltd.
7.4.1 Business Overview
7.4.2 Product and Service Offerings
7.5 Hero Electric Vehicles Pvt. Ltd.
7.5.1 Business Overview
7.5.2 Product and Service Offerings
7.6 Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd.
7.6.1 Business Overview
7.6.2 Product and Service Offerings
7.7 Kinetic Green Energy & Power Solutions Ltd.
7.7.1 Business Overview
7.7.2 Product and Service Offerings
7.8 Lohia Auto Industries
7.8.1 Business Overview
7.8.2 Product and Service Offerings
7.9 ATUL Auto Ltd.
7.9.1 Business Overview
7.9.2 Product and Service Offerings
7.9.3 Key Financial Summary
7.10 Electrotherm (India) Ltd.
7.10.1 Business Overview
7.10.2 Product and Service Offerings
7.10.3 Key Financial Summary
Chapter 8. Appendix
8.1 Abbreviations
8.2 Sources and References
8.3 Related Reports
List of Tables
TABLE 1 ANALYSIS PERIOD OF THE STUDY
TABLE 2 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
TABLE 3 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
TABLE 4 APAC ELECTRIC THREE-WHEELER MARKET, BY VEHICLE, ‘000 UNITS (2013-2017)
TABLE 5 APAC ELECTRIC THREE-WHEELER MARKET, BY VEHICLE, ‘000 UNITS (2018-2023)
TABLE 6 APAC ELECTRIC THREE-WHEELER MARKET, BY VEHICLE, $M (2013-2017)
TABLE 7 APAC ELECTRIC THREE-WHEELER MARKET, BY VEHICLE, $M (2018-2023)
TABLE 8 APAC ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER, ‘000 UNITS (2013-2017)
TABLE 9 APAC ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER, ‘000 UNITS (2018-2023)
TABLE 10 APAC ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER, $M (2013-2017)
TABLE 11 APAC ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER, $M (2018-2023)
TABLE 12 APAC ELECTRIC THREE-WHEELER MARKET, BY BATTERY, ‘000 UNITS (2013-2017)
TABLE 13 APAC ELECTRIC THREE-WHEELER MARKET, BY BATTERY, ‘000 UNITS (2018-2023)
TABLE 14 APAC ELECTRIC THREE-WHEELER MARKET, BY BATTERY, $M (2013-2017)
TABLE 15 APAC ELECTRIC THREE-WHEELER MARKET, BY BATTERY, $M (2018-2023)
TABLE 16 APAC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, ‘000 UNITS (2013-2017)
TABLE 17 APAC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, ‘000 UNITS (2018-2023)
TABLE 18 APAC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, $M (2013-2017)
TABLE 19 APAC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, $M (2018-2023)
TABLE 20 TERRA MOTORS CORPORATION - AT A GLANCE
TABLE 21 CHANGZHOU YUFENG VEHICLE CO. LTD. - AT A GLANCE
TABLE 22 XIANGHE QIANGSHENG ELECTRIC TRICYCLE FACTORY - AT A GLANCE
TABLE 23 JIANGSU KINGBON VEHICLE CO. LTD. - AT A GLANCE
TABLE 24 HERO ELECTRIC VEHICLES PVT. LTD. - AT A GLANCE
TABLE 25 JIANGSU EAST YONSLAND VEHICLE MANUFACTURING CO. LTD. - AT A GLANCE
TABLE 26 KINETIC GREEN ENERGY & POWER SOLUTIONS LTD. - AT A GLANCE
TABLE 27 LOHIA AUTO INDUSTRIES - AT A GLANCE
TABLE 28 ATUL AUTO LTD. - AT A GLANCE
TABLE 29 ATUL AUTO LTD. - KEY FINANCIAL SUMMARY
TABLE 30 ELECTROTHERM (INDIA) LTD. - AT A GLANCE
TABLE 31 ELECTROTHERM (INDIA) LTD. - KEY FINANCIAL SUMMARY
List of Figures
FIG 1 RESEARCH SCOPE
FIG 2 RESEARCH METHODOLOGY
FIG 3 BREAKDOWN OF PRIMARY RESEARCH BY COUNTRY
FIG 4 BREAKDOWN OF PRIMARY RESEARCH BY INDUSTRY PARTICIPANT
FIG 1 BREAKDOWN OF PRIMARY RESEARCH BY COMPANY TYPE
FIG 2 DATA TRIANGULATION APPROACH
FIG 3 APAC ELECTRIC THREE-WHEELER MARKET SUMMARY
FIG 4 VALUE CHAIN ANALYSIS
FIG 5 PORTER’S FIVE FORCES ANALYSIS
FIG 6 APAC ELECTRIC THREE-WHEELER MARKET, BY VEHICLE, ‘000 UNITS (2013-2023)
FIG 7 APAC ELECTRIC THREE-WHEELER MARKET, BY MOTOR POWER, ‘000 UNITS (2013-2023)
FIG 8 APAC ELECTRIC THREE-WHEELER MARKET, BY BATTERY, ‘000 UNITS (2013-2023)
FIG 9 MAJOR MARKETS FOR ELECTRIC THREE-WHEELERS IN APAC
FIG 10 APAC ELECTRIC THREE-WHEELER MARKET, BY COUNTRY, ‘000 UNITS (2013-2023)
FIG 11 APAC ELECTRIC THREE-WHEELER MARKET SHARE OF KEY PLAYERS (2017)

Companies Mentioned

  • Terra Motors Corporation

  • Changzhou Yufeng Vehicle Co. Ltd.

  • Xianghe Qiangsheng Electric Tricycle Factory

  • Jiangsu Kingbon Vehicle Co. Ltd.

  • Hero Electric Vehicles Pvt. Ltd.

  • Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd.

  • Kinetic Green Energy & Power Solutions Ltd.

  • Lohia Auto Industries

  • ATUL Auto Ltd.

  • Electrotherm (India) Ltd.

Methodology

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