Inadequate Charging Infrastructure Is Hindering the Growth of the Electric Three-wheeler Market in the APAC Region

-
The APAC electric three-wheeler market is projected to reach $11,935.1 million by 2023, according to P&S Intelligence.
The growth of the market is predominantly driven by the low ownership cost of electric three-wheelers, falling battery prices, and favourable government policies and support.
Low ownership cost of electric three-wheelers driving the market growth
The battery-powered electric three-wheelers are cost effective as compared to their conventional gasoline-based three-wheelers. It is so because the electric three-wheelers use stored electric charge as the fuel, which costs lesser than the gasoline (price per kilometer). The operational cost of electric three-wheeler is approximately six times lesser than a gasoline and diesel counterpart.
The fuel stations required for the conventional petrol/diesel-based three-wheelers are there in an adequate number as compared to the battery-powered electric three-wheelers. At present, the charging infrastructure growth for electric three-wheelers is poor in many Asian countries such as India and Bangladesh. Much of which can be attributed to the lack of proper guidelines for state-run agencies which are responsible for floating the tenders for charging stations.
Competitive landscape
Some of the key manufacturers in the APAC electric three-wheeler market are Terra Motors Corporation, Xianghe Qiangsheng Electric Tricycle Factory, Jiangsu Kingbon Vehicle Co. Ltd., Changzhou Yufeng Vehicle Co. Ltd., Kinetic Green Energy & Power Solutions Ltd., Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd., ATUL Auto Ltd., and Lohia Auto Industries.

Comments

Post a Comment

Popular posts from this blog

Demand for Electric Bike Set for Stupendous Growth in China and Post 2020, Buoyed by the Global COVID-19 Pandemic

-
In the 1950s, less than 20% of the Chinese people were urban dwellers, and by 2018, this percentage had soared to 59%, as per the World Urbanization Prospects 2018 report of the United Nations (UN). This has led to a massive rise in the number of automobiles on the roads of China, in part, making it the largest carbon emitter in the world. As a result, its government has been strongly encouraging the public to adopt electric vehicles (EV) by implementing stringent emission regulations and offering purchase subsidies and tax rebates. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/china-electric-scooters-and-motorcycles-market/report-sample P&S Intelligence says that the increasing urbanization level, which is expected to touch almost 70% by 2030, will drive the electric bike market in China from $7.7 billion in 2017 to $12.5 billion by 2025, at a 6.1% CAGR during 2018–2025 (forecast period). As per the Health Effects Institute and Tsing...
Read more

India Electric Car Market Will See Strong Expansion Through 2025

-
Image
The air pollution levels in India have risen rapidly over the past few years. As per the Environmental Pollution Index 2018, the country is among the bottom five countries when environment health category is considered and ranked 178 out of 180, in terms of air quality. India’s carbon dioxide emissions rose by 4.6% in 2017. This surging emissions of ultra-fine particulate matter from fuel-based vehicles has caused the death of approximately 1,640,000 people in the country. In order to reduce the pollution, the government of the country is focusing on encouraging the utilization of electric vehicles. Owing to these factors, the demand for electric cars in India has risen considerably. According to a report by P&S Intelligence, the Indian electric car market is expected to generate a revenue of $707.4 million by 2025, rising from $71.1 million in 2017, and is projected to progress at a 34.5% CAGR during the forecast period (2018–2025). The different types of electric cars are hybr...
Read more

Opportunities for the Micromobility Market in the Future

-
Image
Taking out a car for short distances doesn’t make sense anymore, since air pollution is wreaking havoc on people. As most cars on the roads are still powered by diesel or gasoline (known as petrol in Commonwealth countries), people are shifting to lighter vehicles, such as scooters and motorcycles, since they release lower amounts of greenhouse gases. Going a step forward, many have started shunning personal vehicles altogether in favor of shared mobility. The concept of shared mobility, when applied to two-wheelers, is known as micromobility, which also includes kick scooter sharing services, apart from scooter sharing and bike (bicycle) sharing services. Request to Get the Sample Report@  https://www.psmarketresearch.com/market-analysis/micromobility-market/report-sample   P&S Intelligence claims that due to the various advantages of these services, the micromobility market will grow rapidly from $3.0 billion in 2018 to $9.8 billion by 2025, at a robust 19.9% C...
Read more