Global Three-Wheeler (3W) Goods Carrier Market 2017-2021

Overview of the global three-wheeler (3W) goods carrier market

Market research analysts at Technavio predict that the global three-wheeler (3W) goods carrier market will grow steadily during the next four years and in terms of units, will post a CAGR of over 4% by 2021. This market research analysis identifies the low operational and maintenance costs of 3W goods carriers as one of the primary growth factors for this market. The 3W goods carriers are the cheapest mode of goods transportation that allows small logistic firms and individual end-users to adopt such vehicles over four-wheeler minitrucks. In addition to being equipped with components and accessories that are designed to have a long life, 3W goods carriers involve less operational costs and ownership, which will in turn, fuel their sales during the forecast period.

One of the latest trends that will gain traction in the 3W goods carrier market in the coming years is the growth of the electric powertrain 3W. Though the market is currently dominated by the traditional ICE vehicles, the coming years will witness an increased adoption of electric vehicles especially in countries such as China, India, Japan, and Indonesia. This will mainly attribute to the implementation of polices and subsidies provided by various governments to increase the sales and manufacturing of electric three-wheelers.

Competitive landscape and key vendors