A 3-wheel electric scooter is a motorized device with 3 wheels and handlebars that can be ridden like a bicycle. Many electric scooters are also stand-up models, meaning the rider sits on top of the vehicle in an upright position. With this type of machine, there is no need to lean forward or use hands for balance as the rider is standing straight up. A variety of features has been introduced by manufacturers over the years to make their machines more attractive to consumers. Some provide extra storage space under the seat, while others have expanded cargo areas at both ends so users can carry bulky items without having them sit precariously behind one shoulder or another as they would on traditional two-wheel bikes. Also, some electric 3 wheel scooters offer higher ground clearance than others which could be a factor depending on the terrain the scooter is riding over.
One big advantage these scooters have over traditional sit-down models is they are much lower to the ground so riders do not need to worry about bumping their heads getting on and off them. They also offer more cushioning than most other types of scooters. In addition, 3 wheel electric scooters are a great option for commuters because they allow riders to stand up when riding, which is much more comfortable during long trips and provides better visibility of surroundings than traditional sit-down models.
Moreover, with the increased inclination toward electric vehicles (EVs), 3 wheeler manufacturing companies have introduced numerous electric-propelled 3 wheelers, which positively impacts the growth of the global electric 3 wheel electric scooter market.
With the increasing fuel prices at the international level, growth in pollution, and traffic congestion, especially in urban areas, electric 3 wheeler manufacturing companies have introduced numerous electric-propelled 3 wheelers, which positively impacts the growth of the global 3 wheel electric scooter market. For example, in June 2022, Honda Motor subsidiary Striemo announced its entry into this market. A startup in Honda's business creation program, Striemo unveiled its eponymous new electric scooter. The company has begun taking preorders online from individuals for a limited 300 units at 260,000 yen (USD1,900).
The factors such as the rise in the trend of last mile connectivity, the increase in demand for affordable EV, and the inclination toward the use of electric 3 wheelers as an eco-friendly & efficient solution for commuting supplement the growth of this market. However, the lack of standardization of EV charging and the high cost of batteries are the factors expected to hamper the 3 wheel electric scooter market share in the coming years. In addition, growth in the trend of shared mobility and greater availability of credit and financing options creates market opportunities for the key players operating in this market.
Furthermore, governments of many countries are keen to convert their last-mile delivery fleet to electric due to their added benefits. For instance, in 2021, Amazon India partnered with Mahindra Electric to deploy EVs in its delivery fleet. Amazon India announced that its fleet of delivery vehicles will include 10,000 EVs by 2025, which is expected to reduce the overall transportation cost considerably.
However, the EVs battery source does not have any alternative source for charging. The shortage of charging points in most of cities is a major challenging factor for the growth of the 3 wheel electric scooter industry. Furthermore, thin & inconsistent infrastructure and range anxiety can create a problem for EV and can put the traveler at risk. Moreover, the implementations of supportive infrastructure required for EV in developing countries are less. Furthermore, as the technology is not mature enough, apart from China, the sales of the EVs are extremely less as compared to the internal combustion engine (ICE) vehicle sales. Thus, all these factors coupled with the different prices at charging stations altogether are responsible for hindering the growth of this market.
New Product Launches
In February 2023, Okaya introduced its Faast F3 electric scooter in India, giving the vehicle a starting price of Rs.99,999. Faast F3 will be sold through the 550 outlets that Okaya has in the country, and will come in as many as six color options: Metallic Black, Metallic Cyan, Metallic Grey, Metallic Silver, Metallic White, and Matte Green.
In February 2023, Bolt and Buzzz Electric's Carver introduced a new and electric compact vehicle that will be available on Malta’s roads. The 3 wheeled EV has a range of 100 km and can manoeuvre through narrow streets. The vehicle will be available to riders through the Bolt app as a "traffic buster" category.
In January 2023, EV startup iGowise Mobility launched the BeiGo X4 electric scooter in India. Claimed to be the ‘SUV of scooters’, the BeiGo X4 sports utilitarian bits like a 150km claimed range, massive 60-litre boot space, inbuilt pillion footrest and an extremely spacious flat floorboard.
In June 2022, Nimbus, a Michigan-based EV startup launched a prototype for its Nimbus One, a tiny, 3 wheeled EV that combines the convenience and cost of a motorbike with the safety and comfort of a car. The thin, pod-like vehicle is only about 2.75 feet wide and 7.5 feet long, which Nimbus says makes it three to five times smaller than a compact car — the better to park and navigate busy urban streets. It also has room behind the driver’s seat for another passenger or storage for things like grocery runs.
Segmental Overview
By battery type: The 3 wheel electric scooter market is further divided into a range of battery types, including lithium-ion (Li-ion), nickel-metal hydride (Ni-Mh), lead based, and others. The type of battery electric scooter has determines its reliability and performance. It is responsible for powering the motor, the lights, the controller, the display. It even dictates the speed and range. Li-ion batteries have taken the electric scooter market by storm - they are now the most commonly used type of battery in modern scooter manufacturing. There are multiple battery chemistries within the Li-ion category; all boast high energy density, meaning they store more energy per physical weight. They also weigh less than all the other batteries, last longer, and require less maintenance. Meanwhile, Ni-Mh batteries are somewhere between the Li-ion battery and the sealed lead-acid batteries. They are the most common batteries found in rechargeable electronics. Like the Li-ion batteries, the Ni-Mh batteries have a high energy density and can thus store a lot of energy per unit weight. They also have fewer materials which make them safer than Li-ion batteries.
By technology: The 3 wheel electric scooter market is further divided into two technology types, such as plugin and battery. EVs have a battery instead of a gasoline tank, and an electric motor instead of an ICE. Plug-in hybrid electric vehicles are a combination of gasoline and EVs, so they have a battery, an electric motor, a gasoline tank, and an ICE.
By distribution channel: The 3 wheel electric scooter market is further bifurcated into OEM, e-commerce, and others. The 3 wheel electric scooter market share growth by the OEM segment will be significant during the forecast period. The OEM segment accounts for the largest share of the global 3 wheel electric scooter market. This is due to the high preference of the customers to buy the product in person instead of buying them online.
By region: The 3 wheel electric scooter market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. The vast majority of EV 2- and 3 wheeler sales take place in China, followed by small yet significant markets in India and Vietnam, as documented by the International Energy Agency. Historically, in these countries, most EV riders were not luxury brand owners; they were students, seniors, and working adults on the job, observed by the regional experts from the International Council on Clean Transportation. In Vietnam, EV customers are concentrated in major cities, where 2 wheelers emit the majority of particulate air pollution. In India, many serve as an essential lag within e-commerce, delivering produce and packages on 3 wheeled carts. From a cost perspective, a number of electric models in China, India, and Vietnam are already competitive with gasoline scooters and 3 wheelers. Vehicles with lead-acid batteries tend to be older models that require more frequent charging, but they also tend to be less expensive than the more efficient lithium-battery EVs.
Competition analysis
This report includes a competitive analysis and profiles of major players in the base station market, including Afikim EVs, Energica Motor Company S.p.A., EV Rider LLC, Hoveround Co., Hero MotoCorp Ltd., Lohia Auto, Mahindra Electric Mobility Ltd., Merits Co. Ltd., Piaggio Vehicles, Pride Mobility Products, UK Mobility Group Ltd., and VAN OS Medical UK Ltd.
One big advantage these scooters have over traditional sit-down models is they are much lower to the ground so riders do not need to worry about bumping their heads getting on and off them. They also offer more cushioning than most other types of scooters. In addition, 3 wheel electric scooters are a great option for commuters because they allow riders to stand up when riding, which is much more comfortable during long trips and provides better visibility of surroundings than traditional sit-down models.
Moreover, with the increased inclination toward electric vehicles (EVs), 3 wheeler manufacturing companies have introduced numerous electric-propelled 3 wheelers, which positively impacts the growth of the global electric 3 wheel electric scooter market.
With the increasing fuel prices at the international level, growth in pollution, and traffic congestion, especially in urban areas, electric 3 wheeler manufacturing companies have introduced numerous electric-propelled 3 wheelers, which positively impacts the growth of the global 3 wheel electric scooter market. For example, in June 2022, Honda Motor subsidiary Striemo announced its entry into this market. A startup in Honda's business creation program, Striemo unveiled its eponymous new electric scooter. The company has begun taking preorders online from individuals for a limited 300 units at 260,000 yen (USD1,900).
The factors such as the rise in the trend of last mile connectivity, the increase in demand for affordable EV, and the inclination toward the use of electric 3 wheelers as an eco-friendly & efficient solution for commuting supplement the growth of this market. However, the lack of standardization of EV charging and the high cost of batteries are the factors expected to hamper the 3 wheel electric scooter market share in the coming years. In addition, growth in the trend of shared mobility and greater availability of credit and financing options creates market opportunities for the key players operating in this market.
Furthermore, governments of many countries are keen to convert their last-mile delivery fleet to electric due to their added benefits. For instance, in 2021, Amazon India partnered with Mahindra Electric to deploy EVs in its delivery fleet. Amazon India announced that its fleet of delivery vehicles will include 10,000 EVs by 2025, which is expected to reduce the overall transportation cost considerably.
However, the EVs battery source does not have any alternative source for charging. The shortage of charging points in most of cities is a major challenging factor for the growth of the 3 wheel electric scooter industry. Furthermore, thin & inconsistent infrastructure and range anxiety can create a problem for EV and can put the traveler at risk. Moreover, the implementations of supportive infrastructure required for EV in developing countries are less. Furthermore, as the technology is not mature enough, apart from China, the sales of the EVs are extremely less as compared to the internal combustion engine (ICE) vehicle sales. Thus, all these factors coupled with the different prices at charging stations altogether are responsible for hindering the growth of this market.
New Product Launches
In February 2023, Okaya introduced its Faast F3 electric scooter in India, giving the vehicle a starting price of Rs.99,999. Faast F3 will be sold through the 550 outlets that Okaya has in the country, and will come in as many as six color options: Metallic Black, Metallic Cyan, Metallic Grey, Metallic Silver, Metallic White, and Matte Green.
In February 2023, Bolt and Buzzz Electric's Carver introduced a new and electric compact vehicle that will be available on Malta’s roads. The 3 wheeled EV has a range of 100 km and can manoeuvre through narrow streets. The vehicle will be available to riders through the Bolt app as a "traffic buster" category.
In January 2023, EV startup iGowise Mobility launched the BeiGo X4 electric scooter in India. Claimed to be the ‘SUV of scooters’, the BeiGo X4 sports utilitarian bits like a 150km claimed range, massive 60-litre boot space, inbuilt pillion footrest and an extremely spacious flat floorboard.
In June 2022, Nimbus, a Michigan-based EV startup launched a prototype for its Nimbus One, a tiny, 3 wheeled EV that combines the convenience and cost of a motorbike with the safety and comfort of a car. The thin, pod-like vehicle is only about 2.75 feet wide and 7.5 feet long, which Nimbus says makes it three to five times smaller than a compact car — the better to park and navigate busy urban streets. It also has room behind the driver’s seat for another passenger or storage for things like grocery runs.
Segmental Overview
By battery type: The 3 wheel electric scooter market is further divided into a range of battery types, including lithium-ion (Li-ion), nickel-metal hydride (Ni-Mh), lead based, and others. The type of battery electric scooter has determines its reliability and performance. It is responsible for powering the motor, the lights, the controller, the display. It even dictates the speed and range. Li-ion batteries have taken the electric scooter market by storm - they are now the most commonly used type of battery in modern scooter manufacturing. There are multiple battery chemistries within the Li-ion category; all boast high energy density, meaning they store more energy per physical weight. They also weigh less than all the other batteries, last longer, and require less maintenance. Meanwhile, Ni-Mh batteries are somewhere between the Li-ion battery and the sealed lead-acid batteries. They are the most common batteries found in rechargeable electronics. Like the Li-ion batteries, the Ni-Mh batteries have a high energy density and can thus store a lot of energy per unit weight. They also have fewer materials which make them safer than Li-ion batteries.
By technology: The 3 wheel electric scooter market is further divided into two technology types, such as plugin and battery. EVs have a battery instead of a gasoline tank, and an electric motor instead of an ICE. Plug-in hybrid electric vehicles are a combination of gasoline and EVs, so they have a battery, an electric motor, a gasoline tank, and an ICE.
By distribution channel: The 3 wheel electric scooter market is further bifurcated into OEM, e-commerce, and others. The 3 wheel electric scooter market share growth by the OEM segment will be significant during the forecast period. The OEM segment accounts for the largest share of the global 3 wheel electric scooter market. This is due to the high preference of the customers to buy the product in person instead of buying them online.
By region: The 3 wheel electric scooter market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. The vast majority of EV 2- and 3 wheeler sales take place in China, followed by small yet significant markets in India and Vietnam, as documented by the International Energy Agency. Historically, in these countries, most EV riders were not luxury brand owners; they were students, seniors, and working adults on the job, observed by the regional experts from the International Council on Clean Transportation. In Vietnam, EV customers are concentrated in major cities, where 2 wheelers emit the majority of particulate air pollution. In India, many serve as an essential lag within e-commerce, delivering produce and packages on 3 wheeled carts. From a cost perspective, a number of electric models in China, India, and Vietnam are already competitive with gasoline scooters and 3 wheelers. Vehicles with lead-acid batteries tend to be older models that require more frequent charging, but they also tend to be less expensive than the more efficient lithium-battery EVs.
Competition analysis
This report includes a competitive analysis and profiles of major players in the base station market, including Afikim EVs, Energica Motor Company S.p.A., EV Rider LLC, Hoveround Co., Hero MotoCorp Ltd., Lohia Auto, Mahindra Electric Mobility Ltd., Merits Co. Ltd., Piaggio Vehicles, Pride Mobility Products, UK Mobility Group Ltd., and VAN OS Medical UK Ltd.
3-Wheel Electric Scooter Market Report Highlights
| Aspects | Details |
 By Battery Type |
|
 By Technology |
|
 By Distribution Channel |
|
 By Region |
|
 Key Market Players | VAN OS Medical UK Ltd, Piaggio Vehicles, Hero MotoCorp Ltd, MERITS Co. Ltd, EV Rider LLC, Mahindra Electric Mobility Limited, hoveround corporation, UK Mobility Group Ltd, Pride Mobility Products, lohia auto, energica motor company s.p.a., afikim electric vehicles |
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