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Forecast: global 3-wheeler market to grow at CAGR of 13% through 2019

30 March 2014

The value of the global three-wheeler market will grow at a compound annual growth rate (CAGR) of 13% during 2014-19, according to a recently published report by TechSci Research, “Global Three Wheeler Market Forecast and Opportunities, 2019”. The introduction of CNG/LPG three-wheelers has revived the global three-wheeler market and significantly increased the acceptability of three-wheelers across many countries, especially in developing nations, the report says.

TechSci categorizes the three-wheeler industry into two segments: passenger carriers and load carriers. The segments can further be categorized according to weight of the vehicle, payload capacity (0.35T / 0.50T / 0.75T / >0.75 T), fuel consumption (gasoline/diesel / compressed natural gas / liquefied petroleum gas), and engine type (front, rear, 2-stroke, 4-stroke, 150cc, 175cc, 200cc, 400cc).

The global three-wheeler market is primarily concentrated in the Asia-Pacific, which accounted for a market share of 65% of global three-wheeler market, in volume terms, in 2013.

Inadequate availability of public transportation, underdeveloped transport & logistic infrastructure, low per capita income, increasing unemployment, etc. are some of the key factors that are contributing to the growth of three-wheelers in developing and underdeveloped countries. Three-wheelers offer an efficient, quick and economical way of transportation even in the areas where buses, trucks, taxis, etc. cannot effectively penetrate.

Underdeveloped countries in Africa like Nigeria, Tanzania, Mozambique and Egypt and their Asian counter parts like Nepal, Bangladesh, etc., are therefore emerging as the favorite markets for the leading three-wheeler manufacturers across the globe.

Three-wheeler demand is significantly being boosted by the increasing penetration of hub-n-spoke model in supply chain networks of enterprises across the globe. Three-wheelers are significantly being used in transportation of inventory from hubs to final destinations like end consumers, retail outlets, confectionary shops, manufacturing units, etc. through predefined routes called spokes. Adoption of hub-n-spoke model is expected to increase further in the coming years, which is expected to drive the demand for three-wheelers over the next five years.

—Karan Chechi, Research Director

The increasing penetration of four wheeler-light commercial vehicles during 2010-13 is providing competition for passenger carrier and load carrier three-wheelers in emerging economies like India, China, Indonesia, etc. Competition for three-wheelers in these countries is expected to further increase with the introduction of “quadricycles”, which are four wheel small vehicles.

March 30, 2014 in Brief | Permalink | Comments (1) | TrackBack (0)

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Comments

I think they totally miss the mark if ev's are not considered.

This could suggest a much greater adoption of trikes and LCV's.
ICE V's are pretty much caveman technology for this application.


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