Share on

Europe Electric Three-Wheeler Market By Vehicle Type ( Passenger Carrier and Goods Carrier), By Power Type ( Up to 1000W, Up to 1000W to 1500W, and Above 1500W), By Battery Type ( Lithium-ion and Lead Acid), By Country (Germany, France, Switzerland, Italy, UK, Spain, Russia, Belgium, Netherland, and others)

Published: September, 2022
ID: 13419
Pages: 145
Formats: report pdf report excel report power bi report ppt

Europe Electric Three-Wheeler Market Size (2022-2027)

Europe Electric Three-Wheeler Market was valued at USD 233 Million in 2021 and is expected to reach a value of USD 863 Million by 2027, growing at a CAGR of 12.5% during the forecast period of 2021-2027.

The Europe Electric Three-Wheeler Market is booming in demand marking the second largest share. There has been an inclined growth for the Market, showcasing an efficient use of conventionally powering it by fossil fuel. Furthermore, the increase of greenhouse gasses affecting the environment has promoted the demand for the Market, making it a more sustainable mode of transport. Hence, the market is forecasted to grow from 2022 to 2027.

Europe Electric Three-Wheeler Market Drivers:

The growth of the Europe Electric Three-Wheeler Market is driving to propel the market for electric vehicles, which are more efficient and affordable and are becoming a part of the mainstream vehicle. Market is a more affordable, rising trend of last-mile connectivity and cost-effective mode of transport, which is being developed with more advanced technology for the usage of battery which helps accommodate the transportation for end-users.

The Europe Electric Three-Wheeler Market drives the market growth through the initiatives taken by the government by implementing specific schemes and multiple reimbursement policies, boosting the presence of electric vehicles in the market. Hence, these drivers are growing the demand for the Market.

Europe Electric Three-Wheeler Market Challenges:

The Europe Electric Three-Wheeler Market faces a few restraints for its demand in the market. First, the high cost of lithium-ion batteries hampers the growth of the Market. As lithium-ion batteries are more expensive than lead acid batteries, the demand for growth of the Market is being hampered.

Also, the shortage of mainstream charging stations for electric vehicles poses a challenge for the driver. Furthermore, the long charging hours required by the electric vehicle battery also mark a challenge for the Market. The driver also faces a threat due to the range anxiety covered by the electric vehicles, which are inconsistent compared to that of petrol-fueled vehicles. Hence, the electric vehicle companies must meet these challenges to grow the demand in the Market.

Europe Electric Three-Wheeler Market Opportunities:

The Europe Electric Three-Wheeler Market is growing in demand and creating various opportunities for the market. Electric vehicles have been a trend in shared mobility, and eco-friendly commute has created lucrative opportunities for the growth of the market. Also, the availability of many credits and financial options has created opportunities for the business growth of the  Market.

Europe Electric Three-Wheeler Market Key Developments:

  • In September 2022, a German-based company Quantron AG an expert in zero-emission BEV and FCEV transportation solutions, and Hyderabad-based ETO Motors have inked plans to start a collaboration for the Indian Market. Both companies confirmed the same during Hanover's IAA Transportation 2022 trade fair. 
  • In October 2021, the two- and three-wheeler market is increasing its engagement in electric mobility as an Italian company called the Piaggio Group has joined forces with global company BP to develop and roll out a comprehensive set of services for the rapid growth of two- and three-wheeler electric vehicles across Europe, India, and Asia.

Market Segmentation:

Europe Electric Three-Wheeler Market Segmentation: By Vehicle Type:

  • Passenger Carrier
  • Goods Carrier

Based on Vehicle Type, the demand for the Passenger Vehicle segment is significantly higher for the Europe Electric Three-Wheeler Market. With the growth in the three-wheelers, public transport has increased demand as the public transport system is preferred by many compared to a private vehicle. The Goods Carrier segment is anticipated growth in the Europe Electric Three Wheeler Vehicle Market due to the increasing demand for economical, eco-friendly, and lightweight vehicles.

Europe Electric Three-Wheeler Market Segmentation: By Power Type:

  • Up to 1000 W

  • Up to 1000 W to 1500 W

  • Above 1500 W

Based on Power Type, the segment up to 1000 W to 1500 W is leading in demand for the Europe Electric Three-Wheeler Market due to its cost-effective and affordable operational cost. Furthermore, the segment up to 1000 W to 1500 W is an instant torque, increasing the vehicle's mobility and efficiency, boosting the demand for Europe Electric Three-Wheeler Market. Furthermore, there is an anticipated growth for the segment Above 1500 W due to the rapid industrialization of the Europe Electric Three-Wheeler Market. Furthermore, with the above 1500 W power, there is a better battery power that can be durable for a more extended period, boosting the demand for Above 1500 W. 

Europe Electric Three-Wheeler Market Segmentation: By Battery Type:

  • Lithium-Ion

  • Lead Acid

Based on the Battery Type, the Lithium-Ion segment has dominated with the largest share of the Europe Electric Three-Wheeler Market. This is because the lithium-ion battery has the most extended battery life, less charge duration, requires low maintenance, etc. On the other hand, the Lead Acid segment is expected to grow in the Europe Electric Three-Wheeler Market during the forecast period 2022-2027.

Europe Electric Three-Wheeler Market Segmentation: By Country:

  • Germany
  • France
  • Switzerland
  • Italy
  • UK
  • Spain 
  • Russia
  • Belgium
  • Netherland
  • Others

Based on the Segmentation by Country, Germany has dominated the Europe Electric Three-Wheeler Market. Many consumers have opted for electric vehicles in Germany due to their effective and efficient uses in the market. Therefore, Germany's electric three-wheeler market shares are esteemed to have the same growth during the forecast period. 

The other countries leading in the Europe Electric Three-Wheeler Market are the UK, France, Italy, Russia, and others, which are anticipated to grow in demand for the Europe Electric Three-Wheeler Market during the forecast period of 2022-2027. 

Europe Electric Three-Wheeler Market Key Players:

  • Leon Cycle
  • Govecs AG
  • Riese & Muller GmbH
  • Walberg Urban Electrics GmbH
  • Zero Motorcycles Inc.
  • myStromer AG
  • Energica Motor Company
  • Emco Electroroller GmbH

Please wait. . . . Your request is being processed

FAQ's

What is the size of the Europe Electric Three-Wheeler Market?

The Europe Electric Three-Wheeler Market was valued at USD 233 million in 2022 and is expected to reach a value of USD 863 million by 2027, growing at a CAGR of 12.5% during the forecast year of 2022-2027.

What are the driving factors of the Europe Electric Three-Wheeler Market?

The Europe Electric Three-Wheeler Market is driven by the energy efficiency of the commute and the support given by the government by providing subsidy schemes and tax rebates.

What challenges does the Europe Electric Three-Wheeler Market face?

The challenges faced by the Europe Electric Three-Wheeler Market are shortage of charging for EVs, and range anxiety has been a significant problem faced by the end-user.

What is under the Europe Electric Three-Wheeler Market Segmentation by Power Type?

The Segmentation by Power Type for the Europe Electric Three-Wheeler Market are Lithium-ion, Lead Acid, and others.

Who are the key players in the Europe Electric Three-Wheeler Market?

The three leading Key Players in the Europe Electric Three-Wheeler Market are Riese & Muller GmbH, Govecs AG, myStromer AG, and others.

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: sales@marketdataforecast.com

Click for Request Sample