Industry Overview
The China Electric Three-Wheeler Market is predicted to grow at 13.1% CAGR during the forecast period, in terms of its fleet size.
The Chinese market is primarily driven by increasing demand for electric rickshaws in metropolitan cities, government support and initiatives, and the presence of major electric three-wheeler manufacturers in the country.
China Electric Three-wheeler Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. xx Billion
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Revenue Forecast in 2030
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U.S.D. xx Billion
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Growth Rate
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13.1%
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Segments Covered in the Report
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By Product, By Type, By Motor Power and By Driving Range
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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China
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China Electric Three-Wheeler Industry Dynamics
China Electric Three-Wheeler Market Trends/ Growth Drivers:
The increasing demand for electric rickshaws in metropolitan cities, government support and initiatives, and the presence of major electric three-wheelers manufacturers in the country are the key factors fueling the demand for the electric three-wheelers market in China.
In China, a large number of population is dependent on public transport for their daily commute. Auto rickshaws are the major mode of transport in the major urban cities of the country. Auto rickshaw provides cheaper and faster intracity transport in this region. Although with a lower performance compared to conventional auto rickshaws, electric three-wheelers are still preferred for their low maintenance rate. Moreover, supported by government policies and subsidies manufacturers can provide these electric three-wheelers at competitive pricing, which further increases their adoption of these vehicles in the country.
In recent years, China has built up an advanced infrastructure for the development of electric vehicles. Moreover, the supportive government regulations provide an opportunity to the manufacturers for the research and development of these vehicles. Increasing support from policymakers, full-scale research centers, and large manufacturing units are catering to the demand for electric three-wheelers within the country. Moreover, rapid urbanization and increase in disposable incomes are creating traction for the replacement of conventional vehicles by electric vehicles, thus, fueling the growth of the Chinese light electric vehicle market.
China Electric Three-Wheeler Market Challenges:
The uncertain on-road regulations for electric three-wheelers in China are anticipated to hinder the growth of the market to some extent.
Recent Developments by Key Players
Yunlong Motors, a leading electric vehicle manufacturer in China has launched their latest model of electric pickup truck, the EEC L7e Pony. The Pony is the first electric pickup truck in the Yunlong Motors lineup and is designed to meet the needs of both commercial and personal users.
China's EV and battery manufacturer BYD has launched a joint venture for sodium-ion batteries with its partner Huaihai. The two sides started building the first factory for the corresponding batteries at the beginning of this year. The joint venture, which has a seed capital of 500 million yuan (equivalent to around 64 million euros), will manufacture and sell batteries as well as recycle and utilise used batteries.
China Electric Three-Wheeler Market Segmentation
VynZ Research provides an analysis of the key trends in each segment of the China Electric Three-Wheeler report, along with forecasts at the regional and country levels from 2025-2030. Our report has categorized the market based on product, type, and motor power.
Insight by Product
Based on product, the electric three-wheeler market is segmented into e-rickshaws, e-auto, and others. E-rickshaws are the most preferred three-wheeler category. E-rickshaws are the typical three-wheelers with a top speed of around 25km/hr. These are alternatives to conventional pull rickshaws with pedals and auto rickshaws. A typical e-rickshaw carries 4+1 or 3 passengers at a time.
Insight by Type
- Passenger Vehicle
- Load Carrier
Based on type, the market is categorized into passenger vehicles and load carriers. Passenger vehicles hold a larger share of the market due to the increasing demand for sustainable transport systems in metropolitan cities of different countries in the region.
Insight by Motor Power
- <1
- 000 W
- 1
- 000-1
- 500 W
- >1
- 500 W
Based on motor power, the market is segmented into 1,500 W. Of all, 1,000-1,500 W-powered three-wheelers hold the largest share in the Asian market. The highest share of the 1,000-1,500 W powered three-wheelers in the market is due to the optimum performance and cost of the vehicle at this power.
Insight by Driving Range
- Less than 50 miles
- 50-100 miles
- Above 100 miles
The market is segmented based on driving range, as less than 50 miles, 50-100 miles and above 100 miles. The 50-100 miles segment dominated the market during the forecast period. Developments in electric vehicles with dynamic investments by automakers and increasing concerns about environmental pollution are the major factors for the growth of the market.
China Electric Three-Wheeler Market: Geographic Overview
China
Competitive Insight
Changzhou Yufeng Vehicle Co., Ltd. is one of the larger electro-tricycle manufacturer in China and one high-tech enterprise specializing in research, development and manufacture of accumulator cell, electro-tricycle and new materials. Established in 1995, the company has qualified equipment, strict quality management, advanced technology, and complete set of checkout methods.
Qiangsheng Group is founded in 2005 which is located in Xianghe county. It is a professionl enterprise that specializes in electric tricycle R&D, production, sales, trading and spare parts service. This factory owns the most advanced production line and detection equipment, machining workshops, electrophoresis painting workshops, professional welding workshops and assembly workshops.
The China Electric Three-Wheeler Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
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