Global Three-Wheeler (3W) Goods Carrier Market 2017-2021
About 3W Goods Carrier
The 3Ws are mostly used as a means of public transport and goods carriage for short to medium distances in regions where less public transport, underdeveloped logistics operations, and low disposable income prevails. Developing and underdeveloped nations like India, China, other Asian countries, and some Latin American and African countries are the major markets for 3W goods carrier. The demand for 3Ws in these countries is high, as they are a cost-effective means of transportation.
Technavio’s analysts forecast the global 3W goods carrier market to grow at a CAGR of 4.08% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global 3W goods carrier market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of 3W goods carrier.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global 3W Goods Carrier Market 2017-2021
Technavio recognizes the following companies as the key players in the global 3W goods carrier market: tul Auto, Mahindra and Mahindra, Piaggio, Scooters India, and Qiangsheng Electric Tricycle Factory
Other Prominent Vendors in the market are: Bajaj Auto, CHONGQING BAJAJ MACHINERY, Terra Motors, and TVS
Commenting on the report, an analyst from Technavio’s team said: “Currently, the traditional ICE vehicles dominate the market due to their tested and proven engine mechanism and performance. Another engine type is electric vehicles. These types of vehicles have been introduced in recent years, and their technology is at its nascent stage. However, during the forecast period, electric vehicles are expected to gain traction and become a major mode of mobility.”
According to the report, in addition, the low operational costs of 3Ws compared with four-wheelers drive the market. The components and accessories of 3Ws are designed to have long life considering the heavy usage than other vehicles. Challenges related to four-wheelers have led most of the manufacturers to focus on improving the technology and reducing the cost of maintenance to attract more buyers.
Further, the report states that the four-wheeler minitrucks are hindering the sales growth of 3W goods carriers. Also, the major 3W key players like PIAGGIO and Bajaj Auto are trying to push their business into small four-wheeled vehicles, known as quadricycles. This is, in turn, impacting the sales of 3Ws negatively.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-three-wheeler-3w-goods-carrier-market-2017-2021
tul Auto, Mahindra and Mahindra, Piaggio, Scooters India, Qiangsheng Electric Tricycle Factory, Bajaj Auto, CHONGQING BAJAJ MACHINERY, Terra Motors, and TVS
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