Global Three-Wheeled Motorcycle Market Report and Forecast 2024-2032

Global Three-Wheeled Motorcycle Market Size

The global three-wheeled motorcycle market reached is projected to grow at a CAGR of 12% between 2024 and 2032.

Three-Wheeled Motorcycle Market Outlook

• According to the IEA, India became the largest market for electric three-wheelers in 2023, surpassing China with over 5,80,000 units sold.

• As per three-wheeled motorcycle industry analysis, in 2022, domestic sales of three-wheelers in India reached 4,18,341 units, significantly impacting the three-wheeled motorcycle market.

• The Electric Vehicle Council reports Australia hosts 42 models of two or three-wheelers, boosting growth in the local three-wheeler motorcycle market.

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Three-Wheeled Motorcycle Market Growth

Three-wheeled motorcycles offer greater stability and comfort, making them increasingly popular among older riders and those with physical limitations. This demographic shift is driving demand for these vehicles. Moreover, the use of three-wheeled motorcycles for recreational purposes is on the rise. These vehicles are often marketed as fun and adventurous, appealing to a segment of consumers looking for leisure and travel options.

The growth of middle-class populations in emerging markets is creating new three-wheeled motorcycle market opportunities. The addition of a third wheel in the conventional motorcycle provides it with extra stability, thus, resulting in its increased demand among consumers.

Increased disposable income and the demand for affordable, efficient transportation solutions are driving market expansion in regions like Asia-Pacific and Latin America. According to the Federal Ministry for Economic Cooperation and Development, under a business-as-usual scenario, global projections suggest the two- and three-wheeler population could reach between 1.3 billion and 1.7 billion vehicles by 2050.

Key Trends and Recent Developments

Urban mobility solutions, supportive infrastructure development, and innovative design and customisation are the major trends impacting global three-wheeled motorcycle market value.

February 07, 2024

Sixthreezero has launched the Two Front Wheel Electric Bike, featuring a reverse trike (tadpole) design with two front wheels and one rear wheel. This configuration enhances stability, making turns smoother and rides more comfortable.

February 02, 2024

Kamoki has launched the XGT CAT 3.0 e-loader at Rs. 1.05 lakh, featuring a 500 kg load capacity, 12-inch wheels, triple-disc brakes, and a fire-resistant graphene battery for enhanced durability and safety.

July 19, 2023

The X-OTO, launched in the US market, is a three-wheeled electric motorbike. It incorporates a patented tilting system that allows it to lean up to 45 degrees, providing stability and operational versatility.

December 06, 2022

Omega Seiki Mobility, in collaboration with Log 9 Materials, has introduced the 'Rage+ RapidEV' in India. This fast-charging electric 3-wheeler is tailored for efficient last-mile cargo delivery, available in two variants to suit different needs.

Urban Mobility Solutions

In crowded urban areas, three-wheeled motorcycles offer an efficient, compact transportation solution, often avoiding traffic congestion and parking challenges faced by traditional four-wheeled vehicles.

Supportive Infrastructure Development

Developing charging infrastructure for electric three-wheeled motorcycles is crucial. Increased investment in charging stations and related infrastructure supports the growth of the electric segment within the market.

Electric and Hybrid Models

The shift towards electric and hybrid three-wheeled motorcycles is gaining momentum. These models are being developed to address environmental concerns and regulations, offering eco-friendly alternatives with lower emissions and operational costs, thus supporting the three-wheeled motorcycle demand forecast.

Innovative Design and Customization

Manufacturers increasingly provide customisable options and innovative designs to meet diverse lifestyle preferences, attracting a broad customer base interested in unique features and personalised experiences.

Three-Wheeled Motorcycle Market Trends

The increasing demand for three-wheeled motorcycles is fuelled by the incorporation of advanced safety technologies such as ABS, traction control, and stability systems, which enhance their appeal to a broader range of safety-conscious riders.

Furthermore, innovations in autonomous driving technology are being integrated into three-wheeled motorcycles. Features like lane-keeping assistance, adaptive cruise control, and automated emergency braking are being developed to improve safety and convenience.

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Three-Wheeled Motorcycle Industry Segmentation

“Global Three-Wheeled Motorcycle Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Wheel Position

• Two Wheels at Front

• Two Wheels at Rear

Market Breakup by Type

• Sports

• Cruiser

• Touring

• Recreational

Market Breakup by Engine

• Combustion Engines
  • Up to 150 cc
  • 151-300 cc
  • 301-500 cc
  • Above 500 cc
• Electric

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Three-Wheeled Motorcycle Market Share

Electric engines contribute to the three-wheeled motorcycle demand as they emitt zero emissions during use, which appeals to consumers and businesses aiming to decrease their environmental impact.

Electric engines operate silently and provide a smooth riding experience compared to combustion engines, contributing to enhanced comfort and reduced noise pollution in urban areas.

Combustion engines offer robust power and performance suitable for various applications, including transportation, delivery services, and recreational use. This capability attracts consumers looking for efficient and reliable vehicles.

Sports type enhances the three-wheeled motorcycle demand growth with state-of-the-art technology such as advanced suspension systems, lightweight materials, and high-performance engines, attracting tech-savvy consumers.

Manufacturers of sports three-wheeled motorcycles often build a strong brand image associated with performance, innovation, and prestige, attracting a dedicated following of loyal customers.

Recreational there-wheeled motorcycles typically prioritise comfort with ergonomic designs, spacious seating, and stability-enhancing features like wider bases and lower centres of gravity, ensuring a smooth ride.

Competitive Landscape

The companies are a provider of automobiles, motorcycles, marine products, industrial machinery, parts and accessories of motorcycles, and others.

Honda Motor Co., Ltd.: Established in 1948 and headquartered in Minato-ku, Tokyo, Honda is a multinational mobility corporation renowned for producing automobiles, motorcycles, marine equipment, power products, and aircraft.

Yamaha Motors Co., Ltd.: Established in 1955 in Iwata City, Shizuoka Prefecture, the company is known for motorcycles, ATVs, boats, outboard motors, and industrial machinery like drones and surface mounters.

Harley-Davidson, Inc.: Founded in 1903 and based in Milwaukee, Wisconsin. The company offers various products including motorcycles, men’s and women’s gear and apparel, and parts and accessories for the motorcycles.

Polaris Industries, Inc.: Established in 1954 and is headquartered in Medina, Minnesota. The company is a global industry leader in power sports and manufactures products including off-road, on-road, snow, marine, and others.

Other global three-wheeled motorcycle market key players are Bombardier Recreational Products Inc. and Piaggio & C. S.p.a, among others.

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Three-Wheeled Motorcycle Market Analysis by Region

Asia Pacific is the leading region boosting the global three-wheeled motorcycle market revenue. This growth can be attributed to the rising demand in emerging markets, supportive government policies and incentives, expanding infrastructure for electric vehicles, cultural suitability for urban transportation needs, and the region's role as a major manufacturing hub for motorcycles. These factors collectively contribute to Asia-Pacific's pivotal role in driving the market's expansion worldwide.

Furthermore, the three-wheeled motorcycle market in Latin America is significantly growing through urban mobility demands, cost-efficiency benefits, regulatory support, environmental concerns, and local manufacturing capabilities, fostering increased adoption across the region.

According to ITA, in 2022, the two- and three-wheeler sectors in Italy produced 341,190 units, up from 293,850 units in 2021.

Key Highlights of the Report

Three-Wheeled Motorcycle Market Report Snapshots

Three-Wheeled Motorcycle Market Size

Three-Wheeled Motorcycle Market Growth

Three-Wheeled Motorcycle Market Trends

Three-Wheeled Motorcycle Market Share

Three-Wheeled Motorcycle Companies

Three-Wheeled Motorcycle Market Regional Analysis