Product Code: A290290
The global electric tricycles and microcars market is anticipated to reach $97.8 billion by 2032, growing from $20.5 billion in 2022 at a CAGR of 17.6% from 2023 to 2032.
Electric tricycles and microcars, often known as micro-mobility electric vehicles, are small three-wheeled or four-wheeled electric vehicles designed for short-distance urban transportation. These vehicles often have electric power systems, making them a more environmentally friendly alternative to conventional internal combustion engine automobiles. Electric tricycles and microcars are distinguished by their small size, economical energy use, and ability to navigate congested city streets. They serve as low-emission, sustainable transportation solutions, primarily geared for short daily commutes and urban mobility demands, thereby reducing environmental impact and improving urban air quality.
The electric tricycles and microcars market is experiencing a surge in popularity owing to their numerous advantages. Electric tricycles, commonly known as e-trikes, have gained significant traction due to their versatility and eco-friendly nature. Their unique design and electric propulsion set them apart from traditional bicycles and other electric vehicles. A key advantage lies in their environmental sustainability, as e-trikes operate with zero emissions, making them an excellent choice for environmentally conscious individuals. The ability to charge using renewable energy sources further reduces their carbon footprint. Beyond environmental benefits, e-trikes are accessible to various age groups and physical abilities. Their stability, safety features, cargo capacity, extended range, and cost savings contribute to their growing appeal for both transportation and recreation. As the demand for sustainable and user-friendly mobility solutions rises, the electric tricycles and microcars market is poised for continued growth.
However, for electric tricycles and microcars, the longevity and performance of the battery pack represent a significant restraint in the market. Batteries are essential for these vehicles, and their condition is vital to reliable and efficient transportation. The durability of these batteries is contingent on various factors, including maintenance practices and environmental conditions. In temperate climates, where conditions are more favorable, a high-quality battery can last between 12 and 15 years if properly cared for. Nevertheless, in regions subject to extreme temperatures, which can be quite common, the battery's lifespan diminishes to a range of 8 to 12 years. This limited battery life poses a challenge for electric tricycles and microcars, as the cost and inconvenience of battery replacement must be factored into ownership, potentially deterring some potential buyers from embracing these environmentally friendly transportation solutions.
The market for electric tricycles and microcars is on the verge of exciting opportunities. This is because governments worldwide are dedicated toward decreasing the use of regular gas and diesel vehicles by 2030. The driving force behind this transformation is the expected widespread adoption of electric vehicles (EVs) to replace the existing fleet. The significant advancements in lithium-ion (Li-ion) battery technology plays a crucial role in the electric vehicle (EV) revolution. Li-ion batteries have evolved to feature high energy density, extended cycle life, and exceptional efficiency, owing to substantial research investments and developments. These attributes highlight the fundamental benefits of Li-ion batteries in electric tricycles and microcars, offering the potential for cleaner and more sustainable urban transportation. This integration is expected to significantly enhance the user experience and drive market expansion.
The COVID-19 pandemic had a detrimental impact on the electric tricycles and microcars market. In 2020, electric car sales experienced an initial surge as the pandemic altered human behaviors and perceptions of mobility. However, the subsequent waves of the pandemic brought significant challenges to the market. Massive lockdowns and travel restrictions, implemented to control the spread of the virus, reshaped daily routines and industrial activities. This led to a substantial contraction in global manufacturing output and disrupted supply chains, causing production lines to come to a halt.
The key players profiled in this report include Mahindra Electric Mobility Limited, Piaggio & C.SpA, Terra Motors, Jiangsu Jinpeng Group Co., Ltd, Jiangsu Huaihai, New Energy Vehicle Co., Ltd., PT. SGMW Motor Indonesia., MG Motor, Chery, Shandong Shifeng (Group) Co., Ltd., and Luvly. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
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- Supply Chain Analysis & Vendor Margins
- Technology Trend Analysis
- Market share analysis of players by products/segments
- New Product Development/ Product Matrix of Key Players
- Patient/epidemiology data at country, region, global level
- Regulatory Guidelines
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Import Export Analysis/Data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- SWOT Analysis
Key Market Segments
By Driving Range
- Less than 100 Km
- Between 100 to 200 km
- Above 200 km
By Battery Type
- Lithium-ion Battery
- Lead-acid Battery
- Nickel Metal Hydride Batteries
- Others
By Application
- Passenger Transport
- Cargo Delivery
By Region
- North America
- Europe
- Germany
- UK
- France
- Netherlands
- Norway
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA
Key Market Players:
- Mahindra Electric Mobility Limited
- Piaggio & C. S.p.A.
- Terra Motors
- Jiangsu Jinpeng Group Co., Ltd.
- Jiangsu Huaihai New Energy Vehicle Co., Ltd.
- PT. SGMW Motor Indonesia.
- MG Motor
- Chery
- Shandong Shifeng (Group) Co., Ltd.
- Luvly
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
- 3.5. Average Selling Price
- 3.6. Market Share Analysis
- 3.7. Brand Share Analysis
- 3.8. Trade Data Analysis
- 3.9. Product Consumption
- 3.10. Value Chain Analysis
- 3.11. Key Regulation Analysis
- 3.12. Patent Landscape
- 3.13. Reimbursement Scenario
- 3.14. Regulatory Guidelines
CHAPTER 4: ELECTRIC TRICYCLE AND MICROCAR MARKET, BY APPLICATION
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Passenger Transport
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Cargo Delivery
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
CHAPTER 5: ELECTRIC TRICYCLE AND MICROCAR MARKET, BY DRIVING RANGE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Less than 100 Km
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Between 100 to 200 km
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Above 200 km
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
CHAPTER 6: ELECTRIC TRICYCLE AND MICROCAR MARKET, BY BATTERY TYPE
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Lithium-ion Battery
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Lead-acid Battery
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Nickel Metal Hydride Batteries
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
- 6.5. Others
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by region
- 6.5.3. Market share analysis by country
CHAPTER 7: ELECTRIC TRICYCLE AND MICROCAR MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Application
- 7.2.3. Market size and forecast, by Driving Range
- 7.2.4. Market size and forecast, by Battery Type
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Market size and forecast, by Application
- 7.2.5.1.2. Market size and forecast, by Driving Range
- 7.2.5.1.3. Market size and forecast, by Battery Type
- 7.2.5.2. Canada
- 7.2.5.2.1. Market size and forecast, by Application
- 7.2.5.2.2. Market size and forecast, by Driving Range
- 7.2.5.2.3. Market size and forecast, by Battery Type
- 7.2.5.3. Mexico
- 7.2.5.3.1. Market size and forecast, by Application
- 7.2.5.3.2. Market size and forecast, by Driving Range
- 7.2.5.3.3. Market size and forecast, by Battery Type
- 7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Application
- 7.3.3. Market size and forecast, by Driving Range
- 7.3.4. Market size and forecast, by Battery Type
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. Germany
- 7.3.5.1.1. Market size and forecast, by Application
- 7.3.5.1.2. Market size and forecast, by Driving Range
- 7.3.5.1.3. Market size and forecast, by Battery Type
- 7.3.5.2. UK
- 7.3.5.2.1. Market size and forecast, by Application
- 7.3.5.2.2. Market size and forecast, by Driving Range
- 7.3.5.2.3. Market size and forecast, by Battery Type
- 7.3.5.3. France
- 7.3.5.3.1. Market size and forecast, by Application
- 7.3.5.3.2. Market size and forecast, by Driving Range
- 7.3.5.3.3. Market size and forecast, by Battery Type
- 7.3.5.4. Netherlands
- 7.3.5.4.1. Market size and forecast, by Application
- 7.3.5.4.2. Market size and forecast, by Driving Range
- 7.3.5.4.3. Market size and forecast, by Battery Type
- 7.3.5.5. Norway
- 7.3.5.5.1. Market size and forecast, by Application
- 7.3.5.5.2. Market size and forecast, by Driving Range
- 7.3.5.5.3. Market size and forecast, by Battery Type
- 7.3.5.6. Rest of Europe
- 7.3.5.6.1. Market size and forecast, by Application
- 7.3.5.6.2. Market size and forecast, by Driving Range
- 7.3.5.6.3. Market size and forecast, by Battery Type
- 7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Application
- 7.4.3. Market size and forecast, by Driving Range
- 7.4.4. Market size and forecast, by Battery Type
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Market size and forecast, by Application
- 7.4.5.1.2. Market size and forecast, by Driving Range
- 7.4.5.1.3. Market size and forecast, by Battery Type
- 7.4.5.2. Japan
- 7.4.5.2.1. Market size and forecast, by Application
- 7.4.5.2.2. Market size and forecast, by Driving Range
- 7.4.5.2.3. Market size and forecast, by Battery Type
- 7.4.5.3. India
- 7.4.5.3.1. Market size and forecast, by Application
- 7.4.5.3.2. Market size and forecast, by Driving Range
- 7.4.5.3.3. Market size and forecast, by Battery Type
- 7.4.5.4. South Korea
- 7.4.5.4.1. Market size and forecast, by Application
- 7.4.5.4.2. Market size and forecast, by Driving Range
- 7.4.5.4.3. Market size and forecast, by Battery Type
- 7.4.5.5. Australia
- 7.4.5.5.1. Market size and forecast, by Application
- 7.4.5.5.2. Market size and forecast, by Driving Range
- 7.4.5.5.3. Market size and forecast, by Battery Type
- 7.4.5.6. Rest of Asia-Pacific
- 7.4.5.6.1. Market size and forecast, by Application
- 7.4.5.6.2. Market size and forecast, by Driving Range
- 7.4.5.6.3. Market size and forecast, by Battery Type
- 7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Application
- 7.5.3. Market size and forecast, by Driving Range
- 7.5.4. Market size and forecast, by Battery Type
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Brazil
- 7.5.5.1.1. Market size and forecast, by Application
- 7.5.5.1.2. Market size and forecast, by Driving Range
- 7.5.5.1.3. Market size and forecast, by Battery Type
- 7.5.5.2. Saudi Arabia
- 7.5.5.2.1. Market size and forecast, by Application
- 7.5.5.2.2. Market size and forecast, by Driving Range
- 7.5.5.2.3. Market size and forecast, by Battery Type
- 7.5.5.3. United Arab Emirates
- 7.5.5.3.1. Market size and forecast, by Application
- 7.5.5.3.2. Market size and forecast, by Driving Range
- 7.5.5.3.3. Market size and forecast, by Battery Type
- 7.5.5.4. South Africa
- 7.5.5.4.1. Market size and forecast, by Application
- 7.5.5.4.2. Market size and forecast, by Driving Range
- 7.5.5.4.3. Market size and forecast, by Battery Type
- 7.5.5.5. Rest of LAMEA
- 7.5.5.5.1. Market size and forecast, by Application
- 7.5.5.5.2. Market size and forecast, by Driving Range
- 7.5.5.5.3. Market size and forecast, by Battery Type
CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product mapping of top 10 player
- 8.4. Competitive dashboard
- 8.5. Competitive heatmap
- 8.6. Top player positioning, 2022
CHAPTER 9: COMPANY PROFILES
- 9.1. Mahindra Electric Mobility Limited
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.2. Piaggio & C. S.p.A.
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.3. Terra Motors
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.4. Jiangsu Jinpeng Group Co., Ltd.
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.5. Jiangsu Huaihai New Energy Vehicle Co., Ltd.
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.6. PT. SGMW Motor Indonesia.
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.7. MG Motor
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.8. Chery
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.9. Shandong Shifeng (Group) Co., Ltd.
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.10. Luvly
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot