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Research Report on Asia-Pacific Electric Three-Wheeler Market: 2013–2023

The APAC electric three-wheeler market is projected to reach $11,935.1 million by 2023, according to P&S Intelligence.<br><br>The growth of the market is predominantly driven by the low ownership cost of electric three-wheelers, falling battery prices, and favourable government policies and support.

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Research Report on Asia-Pacific Electric Three-Wheeler Market: 2013–2023

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  1. Asia-Pacific Electric Three-Wheeler Market by Vehicle, Motor Power, Battery, Geography, Growth, and Demand Forecast, 2013–2023

  2. The Asia-Pacific electric three-wheeler market is projected to reach $11,935.1 million by 2023. The growth of the market is predominantly driven by the low ownership cost of electric three-wheelers, falling battery prices, and favourable government policies and support. The battery-powered electric three-wheelers are cost effective as compared to their conventional gasoline-based three-wheelers. It is so because the electric three-wheelers use stored electric charge as the fuel, which costs lesser than the gasoline (price per kilometer). The operational cost of electric three-wheeler is approximately six times lesser than a gasoline and diesel counterpart.

  3. The fuel stations required for the conventional petrol/diesel-based three-wheelers are there in an adequate number as compared to the battery-powered electric three-wheelers. At present, the charging infrastructure growth for electric three-wheelers is poor in many Asian countries such as India and Bangladesh. Much of which can be attributed to the lack of proper guidelines for state-run agencies which are responsible for floating the tenders for charging stations. For instance, in September 2017, the Energy Efficiency Services Limited (EESL), an energy service company of the Government of India, floated a tender for 4,000 EV charging stations, which was scrapped on the grounds of lack of clarity in terms of specifications and charger testing criteria. Also, in Bangladesh, the demand for excess power for charging stations has hindered the installation of charging stations. 

  4. Some of the key manufacturers in the APAC electric three-wheeler market are Terra Motors Corporation, XiangheQiangsheng Electric Tricycle Factory, Jiangsu Kingbon Vehicle Co. Ltd., Changzhou Yufeng Vehicle Co. Ltd., Kinetic Green Energy & Power Solutions Ltd., Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd., ATUL Auto Ltd., and Lohia Auto Industries. Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/apac-electric-three-wheeler-market/report-sample

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