Global Retrofit Electric Three-Wheelers Market Report

Dublin, Oct. 26, 2022 (GLOBE NEWSWIRE) — The report “Global Modernized Electric Three-Wheelers Market, Vehicle Type, Battery Capacity, Battery Type and Region: Competition Forecast and Opportunities to 2027” has been released. added to from ResearchAndMarkets.com offer.

The global modernized electric three-wheeler market is expected to witness a robust CAGR during the forecast period 2023-2027. Factors such as increasing production and sales of electric vehicles and growing consumer awareness about the benefits of modernized electric three-wheelers are major drivers of the global modernized electric three-wheeler market.

With the increase in shared mobility services such as monorail metros and the growing importance of last mile connectivity and the booming e-commerce industry, the market demand is expected to rise over the forecast period . Additionally, the need to utilize the scrapping of older vehicles and the advent of technologies capable of maintaining the performance and functionality of an electric vehicle while using older versions of electric vehicles are expected to create many growth opportunities for market players over the next five years. years.

The Benefits of Using a Modernized Electric Wheeler Drive Market Growth

Automobiles that use a retro electric fitment kit use the entire body from the original body. Retrofitted vehicles offer the same environmental and economic benefits as a new electric vehicle with similar specifications while reusing body parts and materials that are disposed of after the vehicle’s end of life. Thus, the modernized electric vehicle is able to reduce both the cost of an electric vehicle and the amount of waste generated by old vehicles. The main consumers of electric retrofit kits are in the 3-wheeler segment, including automobile/small business owners who belong to low-income groups and cannot afford new electric vehicles.

Retrofitted vehicles are considered advantageous as they incur no fuel costs and require no regular maintenance like electric vehicles. These vehicles should further contribute to efficient traffic management by reducing the number of new electric vehicles on the road without taking additional measures to replace older vehicles. Rising awareness about the benefits of using modernized electric vehicles is expected to drive the market growth over the next five years.

Rise in popularity of electric public mobility services is supporting market growth

Traditional vehicles are the basic requirement of modern life and the traditional combustion engine is becoming obsolete. Gasoline or diesel vehicles emit harmful emissions, which have an adverse effect on the environment and an individual’s health. ICE engines are the largest source of pollution globally, and two-thirds of air pollution in urban areas is caused by ICE vehicles which affect human health and oncology.

According to a study by the International Journal of Scientific & Engineering Research, the annual emissions from a single ICE automobile are 0.004 tons of PM 10, 3.72 tons of CO2 and 0.014 tons of NOx. Traditional vehicles can be replaced by electric vehicles, as fully electric vehicles have zero tailpipe emissions and are therefore considered much better for the environment. Public transport services are crucial for the growth of any economy as they are affordable and are preferred by the majority of the population. By using public electric vehicles, harmful emissions could be reduced to a significant level. The launch of public electric three-wheelers and high sales of electric vehicles are expected to propel the growth of the global modernized electric three-wheeler market over the forecast period.

Report scope

In this report, the global modern electric three-wheeler market has been segmented into the following categories, in addition to industry trends which have also been detailed below:

Modernized Electric Three-Wheelers Market, By Vehicle Type:

  • passenger carrier
  • load carrier

Modernized Electric Three-Wheelers Market, By Battery Capacity:

Modernized Electric Three-Wheelers Market, By Battery Type:

Modernized Electric Three-Wheelers Market, By Region:

  • North America
  • Asia Pacific
  • South America
  • Middle East
  • Africa

Main topics covered:

1. Product introduction

2. Research methodology

3. Executive Summary

4. Working principle of modernized electric three-wheeler

5. Impact of COVID-19 on the global modern electric three-wheeler market

6. Voice of customers

7. Global Modernized Electric Three-wheeler Market Outlook

8. Asia-Pacific Modern Electric Three-wheeler Market Outlook

9. Africa Modern Electric Three-wheeler Market Outlook

10. Middle East Modern Electric Three-wheeler Market Outlook

11. South America Modern Electric Three-wheeler Market Outlook

12. Market dynamics

13. Market trends and developments

14. Economic advantage of modernized electric three-wheelers

15. Competitive Landscape

16. Strategic Recommendations

Companies cited

  • Etrio
  • RACEenergy
  • Altivert
  • world food
  • Motorcycle Buckle
  • MSO
  • Envirosmart
  • VAIPL (Volta)
  • Engine kit
  • GoGoA1

For more information about this report visit https://www.researchandmarkets.com/r/tlsiws


        

Comments are closed.