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Low Speed Electric Vehicle Market By Vehicle Type, By End User: Global Opportunity Analysis and Industry Forecast, 2023-2032

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    Report

  • 324 Pages
  • November 2023
  • Region: Global
  • Allied Market Research
  • ID: 4828439
Description Jump to:
The report incorporates the study of the global low-speed electric vehicle. Low-speed electric vehicles, also known as LSEVs, are a category of four-wheeled electric automobiles that are intended to travel at low speeds and are not meant for use on highways. Low-Speed electric vehicles (LSEVs), have a very low impact on the surrounding ecosystem and are very energy efficient. According to the U.S. National Highway Traffic Safety Administration, a Low-Speed Vehicle (LSVs), is a four-wheeled motor vehicle with a gross weight of less than 3,000 pounds and a top speed of between 20 and 25 miles per hour. Most states allow low-speed vehicles to operate on roads where the posted speed limit is 35 MPH or less. Low-speed electric vehicles (LSVs) are specifically designed to operate in restricted and local environments such as airports, tourist destinations, golf courses, hotels and resorts, residential and commercial complexes, and others. These types of vehicles are used for commercial and personal usage, such as utility and off-road vehicles for environments where limited speed is appropriate for functioning.

Low-speed electric vehicle runs on an electric motor that requires a constant supply of energy from batteries to operate. There are a variety of batteries used in these vehicles, such as lithium-ion, molten salt, zinc-air, and various nickel-based designs. Low-speed electric vehicles have gained popularity, owing to numerous technological advancements. The electric vehicle outperforms the conventional vehicle providing higher fuel economy, low carbon emission, and reduced maintenance.

The market growth is driven by stringent government rules and regulations toward vehicle emissions and increases in fuel costs. In addition, the rise in pollution, technological advancements, surge in the automobile industry, and decrease in fossil fuel reserves have fuelled the growth in the development and production of low-speed electric vehicles. High vehicle costs and lack of proper charging infrastructure are some of the major restraining factors in this market. Furthermore, proactive government initiatives and technological advancement in electric vehicles ensure lucrative growth opportunities for this market globally. This can be attributed to the rise in the sale of automated vehicles globally. These features offer lucrative opportunities for the low-speed electric vehicle demand globally.

The global low-speed electric vehicle is segmented based on vehicle type, end user, and region. On the basis of vehicle type, the market has been segmented into passenger vehicles, heavy-duty vehicles, utility vehicles, and off-road vehicles. Based on end-users, the market has been bifurcated into golf courses, tourist destinations, hotels and resorts, airports, residential and commercial premises, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the global low-speed electric vehicle market are AGT Electric Cars, Bradshaw Electric Vehicles, Polaris Inc., SpeedwaysElectric, Textron Inc (Textron Specialized Vehicles Inc), HDK Electric Vehicle, Yamaha Motor Co., Ltd, Columbia Vehicle Group Inc, GARIA, and Star EV Corporation.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the low speed electric vehicle market analysis from 2022 to 2032 to identify the prevailing low speed electric vehicle market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the low speed electric vehicle market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global low speed electric vehicle market trends, key players, market segments, application areas, and market growth strategies.

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  • SWOT Analysis

Key Market Segments

By Vehicle Type

  • Passenger Vehicles
  • Heavy Duty Vehicles
  • Utility Vehicles
  • Off-Road Vehicles

By End User

  • Airports
  • Residential and Commercial Premises
  • Golf Courses
  • Tourist Destinations
  • Hotels and Resorts

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
Key Market Players
  • Bradshaw Electric Vehicles, Inc.
  • Polaris Inc.
  • GARIA
  • SpeedwaysElectric
  • Star EV Corporation
  • HDK Electric Vehicle
  • Yamaha Motor Co., Ltd.
  • AGT Electric Cars
  • Columbia Vehicle Group Inc.
  • Textron Inc. (Textron Specialized Vehicles Inc.)

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Low bargaining power of suppliers
3.3.2. High threat of new entrants
3.3.3. High threat of substitutes
3.3.4. Moderate intensity of rivalry
3.3.5. High bargaining power of buyers
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Stringent government rules and regulations towards vehicle emissions
3.4.1.2. Rise in fuel cost
3.4.2. Restraints
3.4.2.1. High cost of electric vehicles
3.4.2.2. Lack of proper charging infrastructure
3.4.3. Opportunities
3.4.3.1. Improvement in electric vehicles R&D battery technology
3.4.3.2. Proactive government initiatives
CHAPTER 4: LOW SPEED ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Passenger Vehicles
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Heavy Duty Vehicles
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Utility Vehicles
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
4.5. Off-Road Vehicles
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market share analysis by country
CHAPTER 5: LOW SPEED ELECTRIC VEHICLE MARKET, BY END USER
5.1. Overview
5.1.1. Market size and forecast
5.2. Golf Courses
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Tourist Destinations
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Hotels and Resorts
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis by country
5.5. Airports
5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market share analysis by country
5.6. Residential and Commercial Premises
5.6.1. Key market trends, growth factors and opportunities
5.6.2. Market size and forecast, by region
5.6.3. Market share analysis by country
CHAPTER 6: LOW SPEED ELECTRIC VEHICLE MARKET, BY REGION
6.1. Overview
6.1.1. Market size and forecast By Region
6.2. North America
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by Vehicle Type
6.2.3. Market size and forecast, by End User
6.2.4. Market size and forecast, by country
6.2.4.1. U.S.
6.2.4.1.1. Market size and forecast, by Vehicle Type
6.2.4.1.2. Market size and forecast, by End User
6.2.4.2. Canada
6.2.4.2.1. Market size and forecast, by Vehicle Type
6.2.4.2.2. Market size and forecast, by End User
6.2.4.3. Mexico
6.2.4.3.1. Market size and forecast, by Vehicle Type
6.2.4.3.2. Market size and forecast, by End User
6.3. Europe
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by Vehicle Type
6.3.3. Market size and forecast, by End User
6.3.4. Market size and forecast, by country
6.3.4.1. UK
6.3.4.1.1. Market size and forecast, by Vehicle Type
6.3.4.1.2. Market size and forecast, by End User
6.3.4.2. Germany
6.3.4.2.1. Market size and forecast, by Vehicle Type
6.3.4.2.2. Market size and forecast, by End User
6.3.4.3. France
6.3.4.3.1. Market size and forecast, by Vehicle Type
6.3.4.3.2. Market size and forecast, by End User
6.3.4.4. Russia
6.3.4.4.1. Market size and forecast, by Vehicle Type
6.3.4.4.2. Market size and forecast, by End User
6.3.4.5. Rest of Europe
6.3.4.5.1. Market size and forecast, by Vehicle Type
6.3.4.5.2. Market size and forecast, by End User
6.4. Asia-Pacific
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by Vehicle Type
6.4.3. Market size and forecast, by End User
6.4.4. Market size and forecast, by country
6.4.4.1. China
6.4.4.1.1. Market size and forecast, by Vehicle Type
6.4.4.1.2. Market size and forecast, by End User
6.4.4.2. Japan
6.4.4.2.1. Market size and forecast, by Vehicle Type
6.4.4.2.2. Market size and forecast, by End User
6.4.4.3. India
6.4.4.3.1. Market size and forecast, by Vehicle Type
6.4.4.3.2. Market size and forecast, by End User
6.4.4.4. Australia
6.4.4.4.1. Market size and forecast, by Vehicle Type
6.4.4.4.2. Market size and forecast, by End User
6.4.4.5. Southeast Asia
6.4.4.5.1. Market size and forecast, by Vehicle Type
6.4.4.5.2. Market size and forecast, by End User
6.4.4.6. Rest of Asia-Pacific
6.4.4.6.1. Market size and forecast, by Vehicle Type
6.4.4.6.2. Market size and forecast, by End User
6.5. LAMEA
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by Vehicle Type
6.5.3. Market size and forecast, by End User
6.5.4. Market size and forecast, by country
6.5.4.1. Latin America
6.5.4.1.1. Market size and forecast, by Vehicle Type
6.5.4.1.2. Market size and forecast, by End User
6.5.4.2. Middle East
6.5.4.2.1. Market size and forecast, by Vehicle Type
6.5.4.2.2. Market size and forecast, by End User
6.5.4.3. Africa
6.5.4.3.1. Market size and forecast, by Vehicle Type
6.5.4.3.2. Market size and forecast, by End User
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product mapping of top 10 player
7.4. Competitive dashboard
7.5. Competitive heatmap
7.6. Top player positioning, 2022
CHAPTER 8: COMPANY PROFILES
8.1. AGT Electric Cars
8.1.1. Company overview
8.1.2. Key executives
8.1.3. Company snapshot
8.1.4. Operating business segments
8.1.5. Product portfolio
8.2. Bradshaw Electric Vehicles, Inc.
8.2.1. Company overview
8.2.2. Key executives
8.2.3. Company snapshot
8.2.4. Operating business segments
8.2.5. Product portfolio
8.3. Columbia Vehicle Group Inc.
8.3.1. Company overview
8.3.2. Key executives
8.3.3. Company snapshot
8.3.4. Operating business segments
8.3.5. Product portfolio
8.4. GARIA
8.4.1. Company overview
8.4.2. Key executives
8.4.3. Company snapshot
8.4.4. Operating business segments
8.4.5. Product portfolio
8.4.6. Key strategic moves and developments
8.5. HDK Electric Vehicle
8.5.1. Company overview
8.5.2. Key executives
8.5.3. Company snapshot
8.5.4. Operating business segments
8.5.5. Product portfolio
8.6. Polaris Inc.
8.6.1. Company overview
8.6.2. Key executives
8.6.3. Company snapshot
8.6.4. Operating business segments
8.6.5. Product portfolio
8.6.6. Business performance
8.7. SpeedwaysElectric
8.7.1. Company overview
8.7.2. Key executives
8.7.3. Company snapshot
8.7.4. Operating business segments
8.7.5. Product portfolio
8.8. Star EV Corporation
8.8.1. Company overview
8.8.2. Key executives
8.8.3. Company snapshot
8.8.4. Operating business segments
8.8.5. Product portfolio
8.8.6. Key strategic moves and developments
8.9. Textron Inc. (Textron Specialized Vehicles Inc.)
8.9.1. Company overview
8.9.2. Key executives
8.9.3. Company snapshot
8.9.4. Operating business segments
8.9.5. Product portfolio
8.9.6. Business performance
8.9.7. Key strategic moves and developments
8.10. Yamaha Motor Co., Ltd.
8.10.1. Company overview
8.10.2. Key executives
8.10.3. Company snapshot
8.10.4. Operating business segments
8.10.5. Product portfolio
8.10.6. Business performance
8.10.7. Key strategic moves and developments
List of Tables
Table 01. Global Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 02. Low Speed Electric Vehicle Market for Passenger Vehicles, by Region, 2022-2032 ($Million)
Table 03. Low Speed Electric Vehicle Market for Heavy Duty Vehicles, by Region, 2022-2032 ($Million)
Table 04. Low Speed Electric Vehicle Market for Utility Vehicles, by Region, 2022-2032 ($Million)
Table 05. Low Speed Electric Vehicle Market for Off-Road Vehicles, by Region, 2022-2032 ($Million)
Table 06. Global Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 07. Low Speed Electric Vehicle Market for Golf Courses, by Region, 2022-2032 ($Million)
Table 08. Low Speed Electric Vehicle Market for Tourist Destinations, by Region, 2022-2032 ($Million)
Table 09. Low Speed Electric Vehicle Market for Hotels and Resorts, by Region, 2022-2032 ($Million)
Table 10. Low Speed Electric Vehicle Market for Airports, by Region, 2022-2032 ($Million)
Table 11. Low Speed Electric Vehicle Market for Residential and Commercial Premises, by Region, 2022-2032 ($Million)
Table 12. Low Speed Electric Vehicle Market, by Region, 2022-2032 ($Million)
Table 13. North America Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 14. North America Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 15. North America Low Speed Electric Vehicle Market, by Country, 2022-2032 ($Million)
Table 16. U.S. Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 17. U.S. Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 18. Canada Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 19. Canada Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 20. Mexico Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 21. Mexico Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 22. Europe Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 23. Europe Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 24. Europe Low Speed Electric Vehicle Market, by Country, 2022-2032 ($Million)
Table 25. UK Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 26. UK Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 27. Germany Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 28. Germany Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 29. France Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 30. France Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 31. Russia Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 32. Russia Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 33. Rest of Europe Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 34. Rest of Europe Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 35. Asia-Pacific Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 36. Asia-Pacific Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 37. Asia-Pacific Low Speed Electric Vehicle Market, by Country, 2022-2032 ($Million)
Table 38. China Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 39. China Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 40. Japan Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 41. Japan Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 42. India Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 43. India Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 44. Australia Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 45. Australia Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 46. Southeast Asia Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 47. Southeast Asia Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 48. Rest of Asia-Pacific Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 49. Rest of Asia-Pacific Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 50. LAMEA Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 51. LAMEA Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 52. LAMEA Low Speed Electric Vehicle Market, by Country, 2022-2032 ($Million)
Table 53. Latin America Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 54. Latin America Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 55. Middle East Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 56. Middle East Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 57. Africa Low Speed Electric Vehicle Market, by Vehicle Type, 2022-2032 ($Million)
Table 58. Africa Low Speed Electric Vehicle Market, by End-user, 2022-2032 ($Million)
Table 59. Agt Electric Cars: Key Executives
Table 60. Agt Electric Cars: Company Snapshot
Table 61. Agt Electric Cars: Product Segments
Table 62. Agt Electric Cars: Product Portfolio
Table 63. Bradshaw Electric Vehicles, Inc.: Key Executives
Table 64. Bradshaw Electric Vehicles, Inc.: Company Snapshot
Table 65. Bradshaw Electric Vehicles, Inc.: Product Segments
Table 66. Bradshaw Electric Vehicles, Inc.: Product Portfolio
Table 67. Columbia Vehicle Group Inc.: Key Executives
Table 68. Columbia Vehicle Group Inc.: Company Snapshot
Table 69. Columbia Vehicle Group Inc.: Product Segments
Table 70. Columbia Vehicle Group Inc.: Product Portfolio
Table 71. Garia: Key Executives
Table 72. Garia: Company Snapshot
Table 73. Garia: Product Segments
Table 74. Garia: Product Portfolio
Table 75. Garia: Key Strategies
Table 76. Hdk Electric Vehicle: Key Executives
Table 77. Hdk Electric Vehicle: Company Snapshot
Table 78. Hdk Electric Vehicle: Product Segments
Table 79. Hdk Electric Vehicle: Product Portfolio
Table 80. Polaris Inc.: Key Executives
Table 81. Polaris Inc.: Company Snapshot
Table 82. Polaris Inc.: Product Segments
Table 83. Polaris Inc.: Product Portfolio
Table 84. Speedwayselectric: Key Executives
Table 85. Speedwayselectric: Company Snapshot
Table 86. Speedwayselectric: Product Segments
Table 87. Speedwayselectric: Service Segments
Table 88. Speedwayselectric: Product Portfolio
Table 89. Star EV Corporation: Key Executives
Table 90. Star EV Corporation: Company Snapshot
Table 91. Star EV Corporation: Product Segments
Table 92. Star EV Corporation: Product Portfolio
Table 93. Star EV Corporation: Key Strategies
Table 94. Textron Inc. (Textron Specialized Vehicles Inc.): Key Executives
Table 95. Textron Inc. (Textron Specialized Vehicles Inc.): Company Snapshot
Table 96. Textron Inc. (Textron Specialized Vehicles Inc.): Product Segments
Table 97. Textron Inc. (Textron Specialized Vehicles Inc.): Product Portfolio
Table 98. Textron Inc. (Textron Specialized Vehicles Inc.): Key Strategies
Table 99. Yamaha Motor Co. Ltd.: Key Executives
Table 100. Yamaha Motor Co. Ltd.: Company Snapshot
Table 101. Yamaha Motor Co. Ltd.: Product Segments
Table 102. Yamaha Motor Co. Ltd.: Product Portfolio
Table 103. Yamaha Motor Co. Ltd.: Key Strategies
List of Figures
Figure 01. Low Speed Electric Vehicle Market, 2022-2032
Figure 02. Segmentation of Low Speed Electric Vehicle Market,2022-2032
Figure 03. Top Impacting Factors in Low Speed Electric Vehicle Market (2022 to 2032)
Figure 04. Top Investment Pockets in Low Speed Electric Vehicle Market (2023-2032)
Figure 05. Low Bargaining Power of Suppliers
Figure 06. High Threat of New Entrants
Figure 07. High Threat of Substitutes
Figure 08. Moderate Intensity of Rivalry
Figure 09. High Bargaining Power of Buyers
Figure 10. Global Low Speed Electric Vehicle Market:Drivers, Restraints and Opportunities
Figure 11. Low Speed Electric Vehicle Market, by Vehicle Type, 2022 and 2032(%)
Figure 12. Comparative Share Analysis of Low Speed Electric Vehicle Market for Passenger Vehicles, by Country 2022 and 2032(%)
Figure 13. Comparative Share Analysis of Low Speed Electric Vehicle Market for Heavy Duty Vehicles, by Country 2022 and 2032(%)
Figure 14. Comparative Share Analysis of Low Speed Electric Vehicle Market for Utility Vehicles, by Country 2022 and 2032(%)
Figure 15. Comparative Share Analysis of Low Speed Electric Vehicle Market for Off-Road Vehicles, by Country 2022 and 2032(%)
Figure 16. Low Speed Electric Vehicle Market, by End-user, 2022 and 2032(%)
Figure 17. Comparative Share Analysis of Low Speed Electric Vehicle Market for Golf Courses, by Country 2022 and 2032(%)
Figure 18. Comparative Share Analysis of Low Speed Electric Vehicle Market for Tourist Destinations, by Country 2022 and 2032(%)
Figure 19. Comparative Share Analysis of Low Speed Electric Vehicle Market for Hotels and Resorts, by Country 2022 and 2032(%)
Figure 20. Comparative Share Analysis of Low Speed Electric Vehicle Market for Airports, by Country 2022 and 2032(%)
Figure 21. Comparative Share Analysis of Low Speed Electric Vehicle Market for Residential and Commercial Premises, by Country 2022 and 2032(%)
Figure 22. Low Speed Electric Vehicle Market by Region, 2022 and 2032(%)
Figure 23. U.S. Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 24. Canada Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 25. Mexico Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 26. UK Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 27. Germany Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 28. France Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 29. Russia Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 30. Rest of Europe Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 31. China Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 32. Japan Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 33. India Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 34. Australia Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 35. Southeast Asia Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 36. Rest of Asia-Pacific Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 37. Latin America Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 38. Middle East Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 39. Africa Low Speed Electric Vehicle Market, 2022-2032 ($Million)
Figure 40. Top Winning Strategies, by Development (2022-2023)
Figure 41. Top Winning Strategies, by Company (2022-2023)
Figure 42. Product Mapping of Top 10 Players
Figure 43. Competitive Dashboard
Figure 44. Competitive Heatmap: Low Speed Electric Vehicle Market
Figure 45. Top Player Positioning, 2022
Figure 46. Polaris Inc.: Research & Development Expenditure, 2020-2022 ($Million)
Figure 47. Polaris Inc.: Net Sales, 2020-2022 ($Million)
Figure 48. Polaris Inc.: Revenue Share by Segment, 2022 (%)
Figure 49. Polaris Inc.: Revenue Share by Region, 2022 (%)
Figure 50. Textron Inc. (Textron Specialized Vehicles Inc.): Net Revenue, 2020-2022 ($Million)
Figure 51. Textron Inc. (Textron Specialized Vehicles Inc.): Revenue Share by Segment, 2022 (%)
Figure 52. Textron Inc. (Textron Specialized Vehicles Inc.): Revenue Share by Region, 2022 (%)
Figure 53. Yamaha Motor Co. Ltd.: Net Sales, 2020-2022 ($Million)
Figure 54. Yamaha Motor Co. Ltd.: Revenue Share by Segment, 2022 (%)

Executive Summary

According to the report titled, 'Low Speed Electric Vehicle Market by Vehicle Type and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025' the global low speed electric vehicle market was valued at $2,395.8 million in 2017, and is projected to reach $7,617.3 million by 2025, registering a CAGR of 15.4% from 2018 to 2025.

At present, North America dominates the market, followed by Europe, Asia Pacific, and LAMEA. U.S. dominated the global low speed electric vehicle market in 2017, whereas Canada is expected to grow at a significant rate in North America during the forecast period.

The market is primarily driven by stringent government rules and regulations toward vehicle emission and increase in fuel costs. In addition, rise in pollution, technological advancements, surge in automobile industry, and decrease in fossil fuel reserves have fueled the growth in the development and production of low speed electric vehicle. High vehicle cost and lack of proper charging infrastructure are some of the major restraining factors of this market. Furthermore, proactive government initiatives and technological advancements in electric vehicles ensure lucrative growth opportunities for this market globally. This can be attributed to rise in the sale of automated vehicles globally. These features offer lucrative opportunities for the low speed electric vehicle demand globally.

Key Findings of the Low Speed Electric Vehicle Market:

Based on vehicle type, the off road segment generated the highest revenue in 2017.
Based on end user, the golf courses segment was the highest revenue contributor in 2017.
Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period.
Based on region, North America contributed the highest market revenue in 2017, followed by Europe, Asia Pacific, and LAMEA.

Key players operating in the global low speed electric vehicle market are HDK Electric Vehicles, Bradshaw Electric Vehicles, Textron Inc., Polaris Industries, Yamaha Motors Co. Ltd., Ingersoll Rand, Inc., Speedway Electric, AGT Electric Cars, Bintelli Electric Vehicles and Ligier Group

Companies Mentioned

  • Bradshaw Electric Vehicles, Inc.
  • Polaris Inc.
  • GARIA
  • SpeedwaysElectric
  • Star EV Corporation
  • HDK Electric Vehicle
  • Yamaha Motor Co., Ltd.
  • AGT Electric Cars
  • Columbia Vehicle Group Inc.
  • Textron Inc. (Textron Specialized Vehicles Inc.)

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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