Electric Three-Wheeler Market Report 2026

The electric three-wheeler market size has grown strongly in recent years. It will grow from $3.66 billion in 2025 to $4.02 billion in 2026 at a compound annual growth rate (CAGR) of 10%. The growth in the historic period can be attributed to last-mile delivery demand, urban congestion issues, low operating cost advantage, government EV subsidies, replacement of ICE three-wheelers.

The electric three-wheeler market size is expected to see rapid growth in the next few years. It will grow to $6.04 billion in 2030 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to charging infrastructure expansion, lithium-ion battery adoption, demand for clean urban transport, fleet electrification programs, smart mobility integration. Major trends in the forecast period include rising adoption in urban mobility, growth of electric cargo three-wheelers, demand for low-cost transportation, expansion of shared mobility models, improved battery performance.

The growing preference for electric vehicles is expected to propel the growth of the electric three-wheeler market going forward. An electric vehicle is a type of vehicle propelled by one or more electric motors. When applied to three-wheelers, EVs operate entirely on electricity rather than internal combustion engines, so the increasing preference for electric vehicles is expected to drive market growth. For instance, in April 2024, according to the International Energy Agency (IEA), a France-based intergovernmental organization, the number of new electric car registrations in China reached 8.1 million in 2023, representing a 35% increase compared to 2022. Therefore, the growing preference for electric vehicles is driving the growth of the electric three-wheeler market.

Major companies operating in the electric three-wheeler market are focusing on battery-electric (zero-emission) propulsion, such as lithium-ion powered e-rickshaws, to gain a competitive edge. For instance, in August 2024, Mahindra Last Mile Mobility, an India-based mobility company, launched the Mahindra e-Alfa Plus electric three-wheeler featuring a Permanent Magnet Synchronous Motor (PMSM), a 150 Ah battery pack delivering over 100 km real-world range on a single charge, and an 18-month warranty covering the vehicle, battery, and charger. This trend reflects the increasing regulatory and consumer shift toward sustainable urban mobility. Adoption of battery-electric E3Ws reduces operating costs and emissions compared to conventional ICE autos, though rapid growth intensifies competition, leading to price pressures and a need for robust after-sales support infrastructure.

In January 2023, RattanIndia Enterprises, an India-based online retailer, acquired Revolt Motors for an undisclosed sum. With this acquisition, RattanIndia Enterprises aims to become the largest electric two-wheeler company in India while advancing sustainable mobility solutions. The company intends to leverage Revolt's technology and established infrastructure to accelerate growth and expand its market presence. Revolt Motors, an India-based manufacturer, specializes in electric two-wheelers and is committed to promoting sustainable urban mobility through electric transportation solutions.

Major companies operating in the electric three-wheeler market report include Bajaj Auto Limited, Bodo Vehicle Group Co Ltd., TVS Motor Company, Piaggio Group, Chongqing Zongshen Vehicle Co. Ltd., Electrotherm Ltd., Adapt Motors, Euler Motors, Hero Electric Vehicles Pvt Ltd., Okinawa Autotech International Private Limited, Altigreen, Terra Motors Corporation, Mahindra Electric Mobility Limited, ATUL Auto Limited, Sazgar Engineering Works Limited, Kinetic Green Energy & Power Solution Ltd., JS Auto Pvt. Ltd., Omega Seiki Private Limited, Kabira Mobility Pvt. Ltd, Lohia Auto Industries Ltd., E-Tuk Factory BV, Avan Motors, Jiangsu Kingbon Vehicle Co Ltd., Changzhou Yufeng Vehicle Co Ltd., Jiangsu East Yonsland Vehicle Manufacturing Co Ltd., Goenka Electric Motor Vehicles Pvt Ltd., Scooters India Limited, Tunwal E Vehicles Pvt Ltd., Gemopai Electric, Biliti Electric Inc.

Asia-Pacific was the largest region in the electric three-wheeler market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the electric three-wheeler market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric three-wheeler market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric three-wheeler market consists of sales of electric auto rikshaws, electric cargo trikes, electric taxi trikes, electric utility trikes, and electric disabled mobility trikes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.