Transforming Transport: Shared Mobility and Ride-Hailing to Revolutionize Three-Wheeler Market
The Global Three Wheeler Market is projected to grow at a CAGR of 11% in the forecast period of 2023-28, cites Markntel Advisors in the recent research report. The prime factor fueling the demand for three-wheelers worldwide is the increased need for reasonably priced commercial vehicles for last-mile connectivity. In addition, these vehicles have drawn interest from both owners and users because of their low turning radius, compact size, adaptability in terms of application, and low running costs. Hence, the business is further fueled by the growing use of three-wheelers for short to medium distances in metropolitan areas, particularly close to metro stations, malls, railroad stations, and other locations. However, the significantly higher operating and maintenance costs of gasoline/diesel and CNG three-wheelers encourage consumers to choose electric three-wheelers for quick commutes, which is expected to increase the sales of electric varieties. As a result, governments and