The global Electric Mobility Industry generated over USD 101.67 billion in 2022 and is expected to grow at a CAGR of 19.9% over the forecast period.
Grand View Research’s electric mobility industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research. Surge in the adoption of EVs, especially e-scooters among the youth, light commercial vehicles for rapid transportation with reduced carbon footprints and increasing purchasing capacity across the globe are expected to significantly increase the demand for E- mobility, thereby supporting the market growth.
Access the Global Electric Mobility Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Electric Three-Wheeler Market Growth & Trends
The global Electric Three-Wheeler Market size is registering a CAGR of 7.7% during the forecast period, as per the new report by Grand View Research, Inc. ICE-powered three-wheelers are considered ideal for public transport in high population density economies such as China and India, especially among the low-income and medium-income demographics. However, ICE-powered vehicles are often held responsible for the rising levels of vehicular pollution, which is becoming a significant worry for several governments. Moreover, depleting fossil fuel reserves, coupled with geopolitical challenges, are leading to a major increase in fossil fuel prices, thereby increasing the operational and maintenance costs of ICE-powered vehicles. Under these circumstances, electric three-wheelers are emerging as a viable, eco-friendly, and affordable alternative to ICE-powered three-wheelers.
The increasing awareness about the harmful impact of emissions from ICE vehicles on the environment has compelled manufacturers and governments to formulate strategies to push for the adoption of electric three-wheelers. Government subsidies on vehicles, batteries, or EV components will help reduce the financial burden on the end user. Governments in Asian countries such as Thailand, Vietnam, and India are introducing incentives and laws to drive the uptake of electric three-wheelers. The Thai government has launched the EV incentives package, which provides incentives such as a reduction in import duties and taxes. A new investment package announced by the government includes corporate income tax exemption on three-wheelers and plans to establish charging stations across the country to further encourage the adoption of electric three-wheelers
Order your copy of the Free Sample of “Electric Mobility Industry Data Book - Two-Wheeler, Three-Wheeler and Light Commercial Vehicles Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Electric Light Commercial Vehicles Market Growth & Trends
The global Electric Light Commercial Vehicles Market size is anticipated to expand at a CAGR of 39.0% from 2023 to 2030. Increasing demand for the lightweight, fuel-efficient, and cost-effective vehicle for the transportation of goods is fueling the growth of light commercial vehicles such as pick-up trucks, vans and minibus in the market. Additionally, the booming e-commerce sector is further creating demand for the logistics transportation service, an electric light commercial vehicle which offers tax incentives, contributes to reducing fuel emission, and are affordable. Thus, LCVs are widely preferred for door-to-door delivery, pick, and drop, and shipping service in the market.
The prominent players in light commercial vehicle market are majorly focusing on product launching activities to maintain their dominance globally. For instance, in May 2022 Volkswagen AG, one of the key players of the automobile industry is has launched “VW ID.Buzz electric minibus”, the vehicle is equipped with the Travel Assist module which has swarm data interphase, equipped with the infotainment system, and have a 77 Kwh battery.
Asia Pacific region is expected to hold the highest share in the electric three-wheeler market. Factors such as EVs as an eco-friendly and affordable option for public transport, increasing popularity of shared mobility, and active government backing for the adoption of EVs are contributing to high regional share. The region has a high penetration of electric three-wheelers, prompting manufacturers to adopt strategies such as partnerships and launching new e-three-wheeler models to gain market share. For instance, Omega Kesiki Mobility entered the passenger electric three-wheeler segment with the launch of Stream, which is priced at INR 3.40 lakhs after government subsidy.
Competitive Landscape
Key players operating in the Electric Mobility industry are:
- Hero Electric (Hero Eco Group)
- Jiangsu Xinri E-Vehicle Co. Ltd.
- Motovolt
- Lime (Neutron Holdings, Inc.,)
- Okinawa Autotech Internationall Private Limited
Check out more Industry Data Books, published by Grand View Research
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com/sector-reports-list
Follow Us: LinkedIn | Twitter
