Asia-Pacific $11.93 Bn Electric Three-Wheeler Market to 2023 - Emergence of Li-ion Battery-Powered Electric Three-Wheelers
Tuesday, February 12, 2019
DUBLIN, Feb. 12, 2019 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
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.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Vehicle
126.96.36.199 Passenger carrier
188.8.131.52 Load carrier
4.1.2 By Motor Power
184.108.40.206 <_000 />220.127.116.11 1,000-1,500 W
18.104.22.168 >1,500 W
4.1.3 By Battery
4.2 Value Chain Analysis
4.3 Market Dynamics
22.214.171.124 Emergence of Li-ion battery-powered electric three-wheelers in the region
126.96.36.199 Low ownership cost
188.8.131.52 Government support and environmental regulations
184.108.40.206 Declining battery prices
220.127.116.11 Impact analysis of drivers on market forecast
18.104.22.168 Long charging time
22.214.171.124 Inadequate infrastructure
126.96.36.199 Impact analysis of restraints on market forecast
188.8.131.52 Emergence of electric three-wheelers in developing economies
4.4 Porter's Five Forces Analysis
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
-- 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.
For more information about this report visit https://www.researchandmarkets.com/research/m5m4vh/asiapacific_11?w=5
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/asia-pacific-11-93-bn-electric-three-wheeler-market-to-2023---emergence-of-li-ion-battery-powered-electric-three-wheelers-300794128.html
SOURCE Research and Markets
||Workthere Expands to United States | Feb 19, 2019
||Global Molecular Quality Controls Market Forecast to 2024: Growing Adoption of Third-Party Quality Controls & Rising Demand for External Quality Assessment Support | Feb 19, 2019
||$7.3 Bn Fire Control System Market - Global Forecast to 2023 | Feb 19, 2019
||FICO to Present at Upcoming Investor Conference | Feb 19, 2019
||The Best Advertising Strategies Of 2019 - Plus, The Top 25 Ad Agencies From Around The World | Feb 19, 2019
||Realtor and Writer Donna Urbikas Pens True Story About War, Trauma and Survival | Feb 19, 2019
||PPDAI Group Inc. Reports Further Progress in Diversifying Funding Sources | Feb 19, 2019
||A Limited Amount of Sponsorship Opportunities Are Still Available For The SIM Philadelphia Technology Leadership Summit | Feb 19, 2019
||Head of CKV Bank named Belgium's Financial Services CEO of the Year by Business Worldwide Magazine | Feb 19, 2019
||Ericsson and OPPO Sign Initial Patent License Agreement | Feb 19, 2019