Electric Three-wheeler Market

By Battery Type;

Li-Ion and Lead Acid

By Range;

Less Than 50 Miles and Above 50 Miles

By Component;

Battery Pack & High Voltage Component, Motor, and Brake

By End-Use;

Passenger Carrier and Goods Carrier

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn298808664 Published Date: August, 2025

Introduction

Global Electric Three-Wheeler Market (USD Million), 2021 - 2031

In the year 2024, the Global Electric Three-Wheeler Market was valued at USD 704.11 million. The size of this market is expected to increase to USD 1,044.81 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.8%.


Electric Three-wheeler Market

*Market size in USD million

CAGR 5.8 %


Study Period2025 - 2031
Base Year2024
CAGR (%)5.8 %
Market Size (2024)USD 704.11 Million
Market Size (2031)USD 1,044.81 Million
Market ConcentrationMedium
Report Pages367
704.11
2024
1,044.81
2031

Major Players

  • Mahindra Electric
  • Piaggion & C. Spa
  • Bodo Vehicle Group Co. Ltd
  • Kinetic Green Energy & Power Solutions Ltd
  • E-Tuk Factory BV
  • Terra Motors Corporation
  • Lohia Auto Industries

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Electric Three-wheeler Market

Fragmented - Highly competitive market without dominant players


An electric three-wheeler, commonly known as an electric rickshaw or e-rickshaw, is a motorized vehicle propelled by electricity and designed for transporting passengers and goods. It features a rechargeable battery that powers its electric motor, making it an environmentally friendly mode of transportation. Widely used in urban and suburban areas, electric three-wheelers serve as a crucial public transportation option, offering convenient and efficient mobility solutions for short-distance travel.

Available in diverse designs and configurations, electric three-wheelers cater to various needs, including passenger transport and cargo delivery. They are popular for their versatility and cost-effectiveness, making them a preferred choice in both urban and rural settings. The market for electric three-wheelers has witnessed rapid growth in recent years, driven by increasing awareness of environmental concerns, government incentives promoting electric vehicles, and advancements in battery technology and charging infrastructure.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Battery Type
    2. Market Snapshot, By Range
    3. Market Snapshot, By Component
    4. Market Snapshot, By End-Use
    5. Market Snapshot, By Region
  4. Electric Three-Wheeler Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Environmental Concerns and Regulations
        2. Economic Benefits
        3. Rising Demand for Last-Mile Delivery
      2. Restraints
        1. High Initial Cost
        2. Battery Technology Limitations
      3. Opportunities
        1. Technological Advancements
        2. Expanding Charging Infrastructure
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry

  5. Market Segmentation
    1. Electric Three-Wheeler Market , By Battery Type, 2021 - 2031 (USD Million)
      1. Li-Ion
      2. Lead Acid
    2. Electric Three-Wheeler Market , By Range, 2021 - 2031 (USD Million)

      1. Less Than 50 Miles

      2. Above 50 Miles

    3. Electric Three-Wheeler Market , By Component, 2021 - 2031 (USD Million)

      1. Battery Pack & High Voltage Component

      2. Motor

      3. Brake

    4. Electric Three-Wheeler Market , By End-Use, 2021 - 2031 (USD Million)

      1. Passenger Carrier

      2. Goods Carrier

    5. Electric Three-Wheeler Market , By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Mahindra Electric
      2. Piaggion & C. Spa
      3. Bodo Vehicle Group Co. Ltd
      4. Kinetic Green Energy & Power Solutions Ltd
      5. E-Tuk Factory BV
      6. Terra Motors Corporation
      7. Lohia Auto Industries
  7. Analyst Views
  8. Future Outlook of the Market