Rising population, growing
demand for last mile connectivity and increasing demand for passenger
transportation to boost global three-wheeler market through 2022
According
to TechSci Research report, “Global
Three Wheeler Market By Vehicle Type, By Region, Competition Forecast &
Opportunities, 2012 - 2022”, the
global three wheeler market is anticipated to cross $ 6 billion by 2022. Expanding
global population coupled with increasing acceptance of three-wheelers as an
effective mode of transportation, especially in developing countries of Asia,
Africa and Latin America, is expected to boost demand for three wheelers during
the forecast period. Last mile connectivity is also one of the major factors
expected to boost three wheeler adoption in the coming years.
Browse 16 Figures spread through 62 Pages and an in-depth TOC on "Global Three Wheeler Market " https://www.techsciresearch.com/report/global-three-wheeler-market/1448.html
In
2016, passenger carrier three-wheeler segment acquired a volume share of more
than 75% in the global three wheeler market. Market dominance of the passenger
carrier 3W segment is backed by the wide product range offered by the leading three-wheeler
companies, coupled with surging 3W demand from developing countries. Further,
load carrier three wheelers are being increasingly used for transporting goods,
particularly for intra-city transportation by Micro, Small and Medium-sized
Enterprises (MSMEs). Continuing expansion in MSME sector in Asia, Latin America
and Africa is expected to contributing significantly to the global demand for
load carrier three-wheelers over the next five years. Globally, Asia-Pacific accounts for the largest population
in the world, and has significant demand for both passenger carrier as well as
load carrier. The volume share of Asia-Pacific region in global three-wheeler market is projected to remain
above 70% through 2022. Africa is the second largest market for three
wheelers, and demand from the region is expected to grow during the forecast
period due high demand from Egypt and Nigeria.
Inefficient
public transport system to handle the growing population is driving demand for
passenger carrier three wheelers in developing and under-developed economies
across the globe. “Insufficient
availability of public transportation, underdeveloped transport & logistic
infrastructure, low per capita income, and increasing unemployment are some of
the key factors that are contributing to increasing adoption of three wheelers
in developing as well as underdeveloped countries. Three wheelers offer an efficient,
quick and economical way of transportation, especially in geographies where
other transportation vehicles like buses, trucks, taxis, etc. cannot penetrate,
and this phenomenon is expected to thrive three wheeler demand over the next
five years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global
Three Wheeler Market By Vehicle Type, By Region, Competition Forecast &
Opportunities, 2012 - 2022” evaluates the future growth potential of three wheeler
market across the globe, and provides statistics and information on market
sizes, shares and trends. The report will suffice in providing the intending
clients with cutting-edge market intelligence and help them in taking sound
investment decisions. Besides, the report also identifies and analyzes emerging
trends along with essential drivers and key challenges faced by the industry.
About TechSci Research
TechSci Research is a leading global
market research firm publishing research reports. Serving 700 global clients
with more than 600 research studies, TechSci Research is serving clients across
11 different industrial verticals. TechSci Research specializes in research
based consulting assignments in high growth and emerging markets, leading
technologies and niche applications. Our workforce of more than 100 fulltime
Analysts and Consultants employing innovative research solutions and tracking
global and country specific high growth markets helps TechSci clients to lead
rather than follow market trends.
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