Albany, NY, January 06, 2017 --(PR.com
)-- Constant innovations in the field of automotive has emerged as a major factor to fuel the market growth for electric trikes in terms of sales, purchases and developments. Recently, a new market study has been added to the vast archive of Market Research Hub which briefly analyzes the growing market of electric trikes. This report is titled “Global Electric Trike Market 2016-2020” and describes the market development by studying current market scenario and its growth prospects in the coming years. Key regions focused on in this report are APAC, Europe and North America. By looking at the market highlights, the research analysts have estimates that the market will grow till 2020 with a strong CAGR of 13.22%.
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Firstly, the report describes the market overview of electric trikes along with its introduction, market dynamics, competitive scenario and landscape. Electric trikes are light weighted three-wheeled vehicles that utilize an electric engine for propulsion. With the effectiveness of an attached electric motor, it provides an ease in hassle-free riding. An electric trike offers the mixture of pedaling and motoring for those who wish to engage in physical activity but might not be able to utilize the effort while riding alone. It has also been studied that, prime aspirants for an electric trike are senior citizens, rehabilitation patients and duty runners.
These three-wheeled motorcycles are known for their increased stability & safety which is offered to the rider. Moreover, these vehicles are in demand since they are environment-friendly and are suited for tackling issues like traffic congestion. Currently, Europe is the major revenue contributor and will remain the same throughout the forecast period. To determine the market size, the report considers the revenue generated by its sales in the past few years. Moreover, France and Germany will emerge as the key revenue generator, as observed by the study.
In the next section, the report presents a detailed market segmentation. The market has been segmented by power output and also by trike type. On the basis of power output, it covers low-powered trike and high-performance trike. It has also been studied that, high-performance trikes are much popular than low-powered models. Manufacturers around the globe are also adopting high-performance trikes and this is currently seen as a major market trend. Different types of trikes available in the market are:
· Delta trike
· Reverse trike
The motorization of these trikes is quite popular with many varied designs based on each primary style. According to the study, the reverse trike offers increased stability and convenience during cornering. The growing demand of high-performance trikes will also boost the demand of reverse trikes. Moreover, the most common type of electric trike is known to be recumbent in its design. The recumbent tadpole is measured the best in terms of balance, steerage and safety. It is regarded as a major driver for the market during the stated forecast period.
Further, one of the major challenges studied by the analysts is due to non-standard vehicle category licensing in some countries.
Browse Full Report with TOC: http://www.marketresearchhub.com/report/global-electric-trike-market-2016-2020-report.html
Key vendors operating in the global market are as follows:
· Yamaha Motor Company
· Toyota Motor Corporation
Some of the prominent vendors in the market are Arcimoto, Electra Meccanica, Sway Motorsports, Aprilia Magnet, Torq, Elio Motors and Valene Motors.
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