Electric Three-Wheeler Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Global Electric Three Wheeler Market Share and is Segmented by End-Use (Passenger Carrier and Goods Carrier), Battery Type (Li-ion and Lead Acid), and Geography.

Electric Three-Wheeler Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Electric Three-Wheeler Market Size

Electric Three Wheeler Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 1.28 Billion
Market Size (2030) USD 2.00 Billion
CAGR (2025 - 2030) 9.31 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Electric Three Wheeler Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Electric Three-Wheeler Market with other markets in Automotive Industry

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Electric Three-Wheeler Market Analysis

The Electric Three-Wheeler Market size is estimated at USD 1.28 billion in 2025, and is expected to reach USD 2.00 billion by 2030, at a CAGR of 9.31% during the forecast period (2025-2030).

  • The market is primarily driven by the factors such as strict government norm for pollution control, increasing awareness about harmful effects of emissions from gasoline and diesel vehicles and increase in adoption of electric vehicles.
  • The average cost of operation and maintenance of electric three-wheelers are substantially low as compared to conventional three-wheelers.
  • However, the low range of distance covered, and heavy battery pack are the areas of concern for the manufacturers of three-wheeler vehicles. As an electric three-wheeler covers around 125-130 kms with full charged battery as compared to 200-220 Kms covered by conventional vehicles on a full tank of fuel.

Electric Three-Wheeler Industry Overview

The Electric 3-Wheeler Market is highly fragmented, with several players accounting for a smaller portion of market share. Some of the prominent companies in the electric three-wheeler market are Mahindra Electric, Piaggio, Bodo EV, Kinetic Green Energy solution and others. These players are investing heavily in research and development of electric three-wheeler in increasing the load capacity along with the driving range of the vehicle. For instance, 

  • In February 2020, Omega Seiki Private Limited introduced Singha and Singha Max which runs on electric power to cater to the needs of the B2B and e-commerce industry. 
  • In December 2019, Piaggio launched Ape electric three wheeler in India, with swappable Lithium-ion battery and offers a range of around 70-80 km on a single charge

Electric Three-Wheeler Market Leaders

  1. Mahindra electric

  2. Piaggio & C. SpA

  3. Bodo EV International

  4. Kinetic Green Energy Solution

  5. Terra Motors

  6. *Disclaimer: Major Players sorted in no particular order
Electric Three Wheeler Market Concentration
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Electric Three-Wheeler Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Challenges
  • 4.3 Porters Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 End-Use
    • 5.1.1 Passenger Carrier
    • 5.1.2 Goods Carrier
  • 5.2 Battery Type
    • 5.2.1 Li-ion
    • 5.2.2 Lead Acid
  • 5.3 Geography
    • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Rest of North America
    • 5.3.2 Europe
    • 5.3.2.1 Germany
    • 5.3.2.2 United Kingdom
    • 5.3.2.3 France
    • 5.3.2.4 Rest of Europe
    • 5.3.3 Asia-Pacific
    • 5.3.3.1 India
    • 5.3.3.2 China
    • 5.3.3.3 Japan
    • 5.3.3.4 South Korea
    • 5.3.3.5 Rest of Asia-Pacific
    • 5.3.4 Rest of the World
    • 5.3.4.1 Brazil
    • 5.3.4.2 South Africa
    • 5.3.4.3 Other Countries

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 Mahindra Electric
    • 6.2.2 Piaggion & C. Spa
    • 6.2.3 Bodo Vehicle Group Co. Ltd
    • 6.2.4 Kinetic Green Energy & Power Solutions Ltd
    • 6.2.5 Terra Motors Corporation
    • 6.2.6 Lohia Auto Industries
    • 6.2.7 E-Tuk Factory BV
    • 6.2.8 Goenka Electric Motor Vehicles Pvt. Ltd
    • 6.2.9 Omega Seiki Private Limited
    • 6.2.10 ATUL Auto Limited
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Electric Three-Wheeler Industry Segmentation

Electric three-wheelers market covers the latest trends and technological developments, demand by the end-use, battery type and geography.Along with a detailed study on major players in the electric three wheeler market, about their innovations, strategies, etc. are also covered in the report.

End-Use Passenger Carrier
Goods Carrier
Battery Type Li-ion
Lead Acid
Geography North America United States
Canada
Rest of North America
Europe Germany
United Kingdom
France
Rest of Europe
Asia-Pacific India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World Brazil
South Africa
Other Countries
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Electric Three-Wheeler Market Research FAQs

How big is the Electric Three-Wheeler Market?

The Electric Three-Wheeler Market size is expected to reach USD 1.28 billion in 2025 and grow at a CAGR of 9.31% to reach USD 2.00 billion by 2030.

What is the current Electric Three-Wheeler Market size?

In 2025, the Electric Three-Wheeler Market size is expected to reach USD 1.28 billion.

Who are the key players in Electric Three-Wheeler Market?

Mahindra electric, Piaggio & C. SpA, Bodo EV International, Kinetic Green Energy Solution and Terra Motors are the major companies operating in the Electric Three-Wheeler Market.

Which is the fastest growing region in Electric Three-Wheeler Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Electric Three-Wheeler Market?

In 2025, the Asia Pacific accounts for the largest market share in Electric Three-Wheeler Market.

What years does this Electric Three-Wheeler Market cover, and what was the market size in 2024?

In 2024, the Electric Three-Wheeler Market size was estimated at USD 1.16 billion. The report covers the Electric Three-Wheeler Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Electric Three-Wheeler Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Electric 3 Wheeler Industry Report

The global electric three-wheeler market is witnessing remarkable growth, fueled by the escalating demand for sustainable and efficient transportation solutions. These vehicles, celebrated for their environmental benefits, cost-effectiveness, and adaptability, are gaining traction among ride-hailing services and companies, enhancing their popularity in urban and suburban locales. The surge in e-commerce and online shopping has propelled the adoption of electric three-wheelers for last-mile delivery, further boosting the market. Technological advancements are improving battery and motor efficiency, enabling longer driving ranges and quicker charging times. Despite facing challenges like higher initial costs and a lack of standardized charging infrastructure, the market's future looks promising. The integration of digital technologies such as GPS navigation and real-time tracking is improving user experience and operational efficiency, making electric three-wheelers a preferred choice for both personal and commercial applications. According to Mordor Intelligence™ Industry Reports, the Electric 3 Wheeler market is poised for significant growth, with detailed analysis and forecasts available in their comprehensive industry analysis, available as a free report PDF download.

Electric 3 Wheeler Market Report Snapshots