What is the market prospect of electric tricycles?

QYResearch: It is estimated that by 2024, the global electric tricycle market will reach $654.38+$02.5 billion.

Industry status

Due to the increasing global demand for energy-saving and green cars, the global consumption of electric tricycles has surged in the past few years. In 2065,438+08, the sales volume reached 654,380+024,300, with a value of more than 5.9 billion US dollars. By 2024, the market scale is expected to reach $654.38+02.5 billion, with a compound annual growth rate of 654.38+03.29%.

It is expected that the government's increasing subsidies and incentives for the production and sales of electric tricycles will become the main factor to promote the growth of this market. It is estimated that the ability of electric tricycles to assist passenger and cargo transportation in China, India and Southeast Asia will lead to a healthy growth rate of this market in the forecast period. More than 93% of electric tricycles appear in the Asian market, which shows the development trend of the industry.

market competition

Attracted by market profits, more and more enterprises enter the electric tricycle industry, and the competition between domestic and foreign manufacturers is fierce at present. The main participants in the electric tricycle industry are Huaihai, Jinbao, Haibao, Sheng Qiang, Senhao, Booz, Baodao, Bird, Besway and Xinge. ? Huaihai and Jinbang are the two largest manufacturers of electric tricycles, with sales exceeding 654.38+0 million.

development trends

In a word, in just a few years, the electric tricycle industry is still a dynamic field. In the next few years, the compound annual growth rate of the electric tricycle market will exceed 10%, which will become a reality. Price and performance will attract consumers. In the fierce competition, the electric tricycle industry is expected to be integrated.

The above contents are extracted from the analysis report of Zhi Bo | Electric Tricycle Market in Hengzhou.