Three-wheelers (3Ws) or three-wheel vehicles, as the name implies, contain one wheel at the front and two wheels at the rear end. 3Ws are mostly used for public transportation and for goods carriage for short to medium distances in regions where less public transport facilities, underdeveloped logistics operations, and low disposable incomes prevail. Developing and underdeveloped nations like India, China, other Asian countries, and some Latin American and African countries contribute the most to the global 3W market. The increase in the demand for 3Ws in these countries are owing to the cost-effective transportation they offer in areas where other options of transportations are inadequate.
Technavio’s analysts forecast the global Three-Wheel Passenger Carrier market to grow at a CAGR of 7.78% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global three-wheel passenger carrier market for 2017-2021. To calculate the market size, the report considers the shipments of 3W PCs.
The market is divided into the following segments based on geography: • APAC • ROW
Technavio’s report, Global Three-Wheel Passenger Carrier Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors • Atul Auto • Bajaj Auto • Mahindra and Mahindra • Piaggio • Qiangsheng Electric Tricycle Factory
Other prominent vendors • Chongqing Bajaj Auto Machinery • Scooters India • Terra Motors • TVS
Market driver • 3W PC being the low-cost vehicle with lower maintenance costs • For a full, detailed list, view our report
Market challenge • Increased adoption of four-wheel SPCVs for passenger transportation • For a full, detailed list, view our report
Market trend • Customization of 3W goods carriers for day-to-day applications • For a full, detailed list, view our report
Key questions answered in this report • What will the market size be in 2021 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space? • What are the market opportunities and threats faced by the key vendors? • What are the strengths and weaknesses of the key vendors?
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