Global Three-Wheeler Marke Forecast & Opportunities, 2024 Market Intelligence . Consulting
Published : June 2019
Ta b l e o f C o n t e n t s S. No.
Contents
1.
Product Overview
2.
Research Methodology
3.
Analyst View
4.
Global Three-Wheeler Market Outlook 4.1.
Market Size & Forecast 4.1.1.
4.2.
By Value & Volume
Market Share & Forecast 4.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
4.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
4.3.3
By Company
4.3.4.
By Region
4.3.
Market Attractiveness Index (By Vehicle Type)
4.4.
Market Attractiveness Index (By Fuel Type)
5.
Pricing and Price Point Analysis
6.
Product Portfolio
7.
Voice of Customer
8.
Asia-Pacific Three-Wheeler Market Outlook 8.1.
Market Size & Forecast 8.1.1.
8.2.
By Value & Volume
Market Share & Forecast 8.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
8.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
8.2.3.
By Country
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Ta b l e o f C o n t e n t s S. No.
Contents 8.3.
Market Attractiveness Index (By Vehicle Type)
8.4.
Market Attractiveness Index (By Country)
8.5.
Voice of Customer– Asia-Pacific
8.6.
Asia-Pacific Three-Wheeler Regional Analysis 8.6.1
China Three-Wheeler Market Outlook 8.6.1.1.
Market Size & Forecast 8.6.1.1.1.
8.6.1.2.
8.6.2.
By Value & Volume
Market Share & Forecast 8.6.1.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
8.6.1.2.2
By Fuel Type (Petrol/CNG, Diesel, Electric)
8.6.1.5.
Market Attractiveness Index (By Vehicle Type)
8.6.1.6.
Import Tariff
India Three-Wheeler Market Outlook 8.6.2.1.
Market Size & Forecast 8.6.2.1.1.
8.6.2.2.
8.6.2.3.
By Value & Volume
Market Share & Forecast 8.6.2.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
8.6.2.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
8.6.1.2.3.
By Top 6 States
8.6.1.2.4.
By Company
India Electric Three-Wheeler Market Size, By Value & Volume 8.6.2.3.1.
India Electric Three-Wheeler Market Share by Vehicle Type (Electric Auto vs. E-rickshaw) (2018-2024)
8.6.2.3.2.
India Electric Three-Wheeler Market Share by Battery Type (Lead-Acid, Li-Ion) (2018-2024)
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Ta b l e o f C o n t e n t s S. No.
Contents
8.6.3.
8.6.2.4.
Market Attractiveness Index (By Vehicle Type)
8.6.2.5.
Import Tariff
Bangladesh Three-Wheeler Market Outlook 8.6.3.1.
Market Size & Forecast 8.6.3.1.1.
8.6.3.2.
8.6.4.
Market Share & Forecast 8.6.3.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
8.6.3.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
8.6.3.3.
Market Attractiveness Index (By Vehicle Type)
8.6.3.4
Import Tariff
Indonesia Three-Wheeler Market Outlook 8.6.4.1.
Market Size & Forecast 8.6.4.1.1.
8.6.4.2.
8.6.5.
By Value & Volume
By Value & Volume
Market Share & Forecast 8.6.4.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
8.6.4.2.2.
By Fuel Type (Petrol/CNG, Electric)
8.6.4.3.
Market Attractiveness Index (By Vehicle Type)
8.6.4.4
Import Tariff
Sri Lanka Three-Wheeler Market Outlook 8.6.5.1.
Market Size & Forecast 8.6.5.1.1.
8.6.5.2.
By Value & Volume
Market Share & Forecast 8.6.5.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
8.6.5.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
4 Š TechSci Research
Ta b l e o f C o n t e n t s S. No.
9.
Contents 8.6.5.3.
Market Attractiveness Index (By Vehicle Type)
8.6.5.4
Import Tariff
Africa Three-Wheeler Market Outlook 9.1.
Market Size & Forecast 9.1.1.
9.2.
By Value & Volume
Market Share & Forecast 9.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
9.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
9.2.3.
By Country
9.3.
Market Attractiveness Index (By Vehicle Type)
9.4.
Market Attractiveness Index (By Country)
9.5.
Voice of Customer– Africa
9.6.
Africa Three-Wheeler Country Analysis 9.6.1.
Egypt Three-Wheeler Market Outlook 9.6.1.1.
Market Size & Forecast 9.6.1.1.1.
9.6.1.2.
9.6.2.
By Value & Volume
Market Share & Forecast 9.6.1.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
9.6.1.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
9.6.1.3.
Market Attractiveness Index (By Vehicle Type)
9.6.1.4.
Import Tariff
Nigeria Three-Wheeler Market Outlook 9.6.2.1.
Market Size & Forecast 9.6.2.1.1.
By Value & Volume
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Ta b l e o f C o n t e n t s S. No.
Contents 9.6.2.2.
9.6.3.
Market Share & Forecast 9.6.2.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
9.6.2.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
9.6.2.3.
Market Attractiveness Index (By Vehicle Type)
9.6.2.4
Import Tariff
Tanzania Three-Wheeler Market Outlook 9.6.3.1.
Market Size & Forecast 9.6.3.1.1.
9.6.3.2.
9.6.4.
By Value & Volume
Market Share & Forecast 9.6.3.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
9.6.3.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
9.6.3.3.
Market Attractiveness Index (By Vehicle Type)
9.6.3.4.
Import Tariff
Kenya Three-Wheeler Market Outlook 9.6.4.1.
Market Size & Forecast 9.6.4.1.1.
9.6.4.2.
By Value & Volume
Market Share & Forecast 9.6.4.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
9.6.4.2.2.
By Fuel Type (Petrol/CNG, Diesel)
9.6.4.3.
Market Attractiveness Index (By Vehicle Type)
9.6.4.4.
Import Tariff
6 © TechSci Research
Ta b l e o f C o n t e n t s S. No. 10.
Contents South America Three-Wheeler Market Outlook 10.1.
Market Size & Forecast 10.1.1.
10.2.
By Value & Volume
Market Share & Forecast 10.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
10.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
10.2.3.
By Country
10.3.
Market Attractiveness Index (By Vehicle Type)
10.4.
Market Attractiveness Index (By Country)
10.5.
Voice of Customer – South America
10.6.
South America Three-Wheeler Country Analysis 10.6.1
Peru Three-Wheeler Market Outlook 10.6.1.1.
Market Size & Forecast 10.6.1.1.1.
10.6.1.2.
10.6.2.
By Value & Volume
Market Share & Forecast 10.6.1.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
10.6.1.2.2
By Fuel Type (Petrol/CNG, Diesel, Electric)
10.6.1.5.
Market Attractiveness Index (By Vehicle Type)
10.6.1.6.
Import Tariff
Colombia Three-Wheeler Market Outlook 10.6.2.1.
Market Size & Forecast 10.6.2.1.1.
10.6.2.2.
By Value & Volume
Market Share & Forecast 10.6.2.2.1.
By Vehicle Type
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Ta b l e o f C o n t e n t s S. No.
Contents 10.6.2.2.2.
10.6.3.
10.6.2.3.
Market Attractiveness Index (By Vehicle Type)
10.6.2.4.
Import Tariff
Chile Three-Wheeler Market Outlook 10.6.3.1.
Market Size & Forecast 10.6.3.1.1.
10.6.3.2.
11.
By Fuel Type (Petrol/CNG, Diesel, Electric)
By Value & Volume
Market Share & Forecast 10.6.3.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
10.6.3.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
10.6.3.3.
Market Attractiveness Index (By Vehicle Type)
10.6.3.4
Import Tariff
Rest of World Three-Wheeler Market Outlook 11.1.
Market Size & Forecast 11.1.1.
11.2.
By Value & Volume
Market Share & Forecast 11.2.1.
By Vehicle Type (Passenger Carrier Vs. Load Carrier)
11.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
11.3.
Market Attractiveness Index (By Vehicle Type)
11.4.
Rest of World Three-Wheeler Country Analysis 11.4.1.
Mexico Three-Wheeler Market Outlook 11.4.1.1.
Market Size & Forecast 11.4.1.1.1.
By Value & Volume
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Ta b l e o f C o n t e n t s S. No.
Contents 11.4.1.2.
12.
Market Share & Forecast 11.5.1.2.1.
By Vehicle Type
11.5.1.2.2.
By Fuel Type (Petrol/CNG, Diesel, Electric)
11.5.1.3.
Market Attractiveness Index (By Vehicle Type)
11.5.1.4
Import Tariff
Market Dynamics 12.1.
Drivers
12.2.
Challenges
13.
Market Trends & Developments
14.
Competitive Landscape 14.1.
Bajaj Auto Limited
14.2.
Piaggio & C. S.p.A.
14.3.
Mahindra & Mahindra Limited
14.4.
TVS Motor Company Limited
14.5.
Scooters India Limited
14.6.
Atul Auto Limited
14.7
ChongQing Zongshen Tricycle Manufacturing Co., Ltd.
14.8
Ningbo Dowedo International Trade Co., Ltd.
15.
Strategic Recommendation
16.
About Us & Disclaimer
9 Š TechSci Research
Product Overview
Product Definition A three-wheeler is a common form of transport, both as a vehicle for hire and for private use. A three-wheeler is powered by an engine, running on fossil fuels or electric power having head lamp, tail lamp, stop lamp and three wheels to carry 3 and more passengers and goods from one place to another. Electric three-wheeler include electric rickshaw also. In some countries three-wheelers are also called Tuk-Tuk. Some of the major companies operating in global three-wheeler market are Bajaj Vehicle Segment Auto Limited, Piaggio & C. S.p.A., TVS Motor Company Limited, Scooters India Limited, Atul Auto Limited, etc. Classification According to Vehicle Type Vehicle Segment
Customer Segment
Passenger Carrier
Individuals
Load Carrier
Logistics, Small and Medium Scale Industries, etc.
10 Š TechSci Research
Research Methodology
Market Profiling • In-depth secondary research was conducted to
Data Collection
determine top players in global three-wheeler market, overall market size and segmental market size.
Research &
Data Filter & Analysis
Intelligence
Actionable Insights
Business Solution
Formulating Questionnaire • In order to conduct industry experts interviews,
TechSci formulated a detailed questionnaire.
❑ ❑ ❑
Developing List of Respondents
Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews
A Primary Research
• List
of industry players, distributors, and industry specialists was developed.
Data Collection
C
• TechSci
conducted interviews with industry experts, industry players, for data collection and verification.
❑ ❑ ❑
Market Participants Key Strengths Three-wheeler Portfolio
B Desk Research
❑
Recent Developments
❑
Market Changing Aspects/Dynamics Government Policies
❑ ❑
Company Analysis
Final Conclusion
Data Validation Primary Research
• Data obtained as a result of primary and
secondary research was rigorous triangulation.
validated
through
Data Analysis • The data was scrutinized using MS-Excel and
statistical tools, such as Time Series Analysis etc., to obtain qualitative and quantitative insights about the global three-wheeler market.
❑ ❑
LinkedIn TechSci Internal database
Secondary Research ❑ ❑
Regulatory Body, Associations
❑ ❑ ❑ ❑
Company Website White Paper Study Financial Reports Investor Presentations
Paid Sources ❑ ❑
Factiva Hoovers
11 © TechSci Research
Research Methodology
Baseline Methodology: For the study, TechSci Research has gathered information through primary research surveys with leading threewheeler companies operating, globally. We also put through an exhaustive search of credible paid databases, such as Business Week, Factiva, Hoovers, etc., including our internal database. Our team of analysts has then prudently evaluated all the collected information and presented the same in chronological order to depict a meaningful and clear picture of global three-wheeler market. While compiling the data, we have also cross checked all the collected information from multiple sources and data warehouses, so as to present the most accurate and precise information of the concerned industry. Sampling Technique: While conducting the study, TechSci followed the stratified random sampling technique to shortlist the KOLs (Key Opinion Leaders) in various three-wheeler companies, and dealers & distributors operating in global three-wheeler market. KOLs based out of prominent three-wheeler companies, and dealers & distributors were interviewed to identify the size of the global three-wheeler market.
Sample Size: KOL
No. of Respondents
Mid to Senior Management/Sales Managers etc.: three-wheeler Companies/Dealers & Distributors
65
Experts from Industry
15
Total
80
12 Š TechSci Research
Research Methodology Market Size Calculation Technique: Primary Research For the preparation of global three-wheeler market report, bottom up model has been used, which has been later cross validated by using top down approach. TechSci interviewed senior managers and regional sales managers of the prominent three-wheeler companies/dealers & distributors using Delphi technique for calculating the market size of global three-wheeler market. Respondents were also asked about the current and future growth rates, market share by three-wheeler type, etc. All the information gathered was carefully analyzed. Data points which exhibited
high
deviations from the majority estimates were eliminated as outliers and the remaining refined data points were
put
together to arrive at the volume data.
Primary Research – Few of the Companies Interviewed S. No.
Company Names
S. No.
Company Names
1.
Bajaj Auto Limited
5.
Scooters India Limited
2.
Piaggio & C. S.p.A.
6.
Atul Auto Limited
3
Mahindra & Mahindra Limited
7.
ZongShen
4.
TVS Motor Company Limited
8.
Jin Peng
Secondary Research: We have also put through an exhaustive search of credible paid databases, such as Factiva, Hoovers, etc., in addition to our internal database. Further analysis of credible publications, white papers, companies’ annual reports, investor presentations, news articles, etc., was done to cross validate the end findings derived from primary research.
13 © TechSci Research
Research Methodology
S. No.
Few of the Secondary Source
S. No.
Few of the Secondary Source
Society of Indian Automobile Manufacturers
6.
Association of Indonesian Automotive Manufacturers (GAIKINDO)
Bangladesh Road Transport Authority
7.
China Association of Automobile Manufacturers (CAAM)
3
Department of Road Traffic, Sri Lanka
8.
ANDEMOS
4.
Kenya National Bureau of Statistics
9.
Automotive Association of Peru (AAP)
5.
World Bank
1.
2.
10.
International Monetary Fund
Forecasting Technique: The team has done forecasting on the basis of econometric and judgemental analysis in addition to statistical techniques, such as averaging and geometric mean. During primary interviews, questions regarding historical sales trend of threewheeler market during the last five years were put forward. Respondents were asked about the current and future growth rates, market share by three-wheeler type, globally. In order to forecast global three-wheeler market, following forecast techniques have been used: •
Time Series Analysis
•
Econometric and Judgmental Analysis
•
Moving Average
* The report is prepared in CY
14 © TechSci Research
INDUSTRY BRIEF According to TechSci Research report, “Global Three-Wheeler Market By Vehicle Type, By Fuel Type, By Region, Competition Forecast & Opportunities, 2014 – 2024”, global three-wheelers market is projected to grow at a CAGR of over 12% during the forecast period. The growth of the market is majorly attributable to the low price and efficient performance of three-wheelers in last mile delivery compared to medium and heavy commercial vehicles. Factors like growing demand from freight and logistics service providers for last mile delivery, public transportation used for the connectivity and increasing inclination of consumers towards small and easy manoeuvrable automobile are further anticipated to fuel demand for three-wheelers. With an expanding volume share of over 54%, passenger carrier three-wheeler segment dominated the global three-wheeler market in 2018, followed by load carrier segment. The growth of passenger carrier three-wheeler segment is led by their expanding fleet, rising transportation needs across different regions. Although, three-wheelers market in Asia-Pacific witnessed a promising CAGR during 2014-2018 due to local manufacturing and demand as well as growth in overall economy, however, the government across different countries in the region are taking initiatives to move towards the usage of alternative energy, i.e., electrification of vehicles. Additionally, the demand for three-wheeler vehicles grown in Africa region during 2014-18 due to high rate of inflation, currency devaluation and absence of heavy transportation vehicle manufacturing in the entire region. Major non-electric three-wheeler giants such as Bajaj, TVS, Piaggio, etc., have enhanced their product offering to gather more customer concentration towards their products. On the other hand, many Chinese electric three-wheeler manufacturers such as Zongshen, Jinpeng, Zbee, etc., have also intensified their business operation by expanding their product distribution network globally as well collaborated with global companies to enhance the quality of their product by investing in research and development. Several global companies are also investing intensively to provide their customers with more affordable and less costly three-wheelers. “Growing presence of various multinational companies such as Bajaj, TVS, Piaggio, etc. coupled with their continued research and developments to meet the customized demand in different regions of the world as well as to offer a wide product range is expected to intensify competition in the global three-wheeler market in the coming years. Moreover, rising average selling price of three-wheelers along with their growing sales are further anticipated to boost revenue of global three-wheeler market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
15
SAMPLE DATA - SNAPSHOT Global Three-Wheeler Market Size, By Value (USD Billion), By Volume (Million Unit), 2014-2024F CAGR 2019E-2024F
CAGR 2014-2018
By Value: xx% By Volume: xx%
By Value: xx% By Volume: xx%
2014
2015
2016
2017
2018
2019E
2020F
2021F
2022F
2023F
2024F
Global Non-Electric Three-Wheeler Vehicle Market
Kenya Three-Wheeler Market Attractiveness Index, By Vehicle
Share, By Company, By Volume, 2018
Type, By Volume, 2019E-2024F 12.00%
Others; 20.00% Bajaj; 20.00%
10.00% 8.00%
TVS; 20.00%
Piaggio; 20.00%
6.00% 4.00%
Huaihai; 20.00% Bajaj
Piaggio
Huaihai
2.00% TVS
Others
0.00% 0.35 0.40 0.45 0.50 0.55 0.60 0.65 0.70 0.75 0.80 0.85
16
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About Us & Disclaimer About Us TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
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Disclaimer
The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.
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