The Europe Low-Speed Vehicle Market should witness market growth of 6.8% CAGR during the forecast period (2023-2030).
The growing ageing population will be the driving force behind the market as this age group needs vehicles that can be used for mobility. Strict emission regulations and standards supporting the demand. The use of LSVs for short-distance travel also makes growing fuel prices a significant factor in the market's growth.
Low-speed vehicles (LSVs) have four wheels and a maximum speed of around 25 mph (40 km/h). These vehicles are used as golf carts, turf utility vehicles, neighborhood vehicles, and industrial automobiles. Due to its portability, it is used in a variety of locations, including gated communities, corporate offices, industrial areas, and campuses of schools, colleges, and universities. Currently, low-speed vehicles come in both electric and conventional fuel versions. More than 60% of these vehicles are electrically powered, and it is predicted that they will contribute to the growth of market throughout the review period.
A key driver propelling the market in Europe is the growing prominence of golf infrastructure. Despite being primarily centered in the highest-ranked golfing nations, Europe is seeing a steady increase in the number of golf courses. The general public has limited access to several of these facilities since they are only available to private clubs, golf resorts, and golf-specific properties. Currently, a large share of the world's golf course supply can be found in Europe. This growing popularity of golf courses is predicted to raise the demand for golf carts, thereby supporting market growth.
The Germany market dominated the Europe Low-Speed Vehicle Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $935.5 million by 2030. The UK market is showcasing a CAGR of 5.9% during (2023-2030). Additionally, The France market would display a CAGR of 7.6% during (2023-2030).
Based on Category Type, the market is segmented into L7, and L6. Based on Vehicle Type, the market is segmented into Commercial Turf Utility Vehicle, Golf Cart, Industrial Utility Vehicle, and Personal Mobility Vehicle. Based on Power Output, the market is segmented into < 8KW, 8-15KW, and >15KW. Based on Propulsion, the market is segmented into Electric, Diesel, and Gasoline. Based on Battery Type, the market is segmented into Li-Ion, and Lead Acid. Based on Voltage Type, the market is segmented into < 60 V, and >60 V. Based on Application, the market is segmented into Golf Courses, Hotels & Resorts, Airports, Industrial Facilities, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Textron, Inc., Deere & Company, Yamaha Motor Co., Ltd., The Toro Company, KUBOTA Corporation, Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.), Waev, Inc., Club Car, LLC, American LandMaster, and Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
The growing ageing population will be the driving force behind the market as this age group needs vehicles that can be used for mobility. Strict emission regulations and standards supporting the demand. The use of LSVs for short-distance travel also makes growing fuel prices a significant factor in the market's growth.
Low-speed vehicles (LSVs) have four wheels and a maximum speed of around 25 mph (40 km/h). These vehicles are used as golf carts, turf utility vehicles, neighborhood vehicles, and industrial automobiles. Due to its portability, it is used in a variety of locations, including gated communities, corporate offices, industrial areas, and campuses of schools, colleges, and universities. Currently, low-speed vehicles come in both electric and conventional fuel versions. More than 60% of these vehicles are electrically powered, and it is predicted that they will contribute to the growth of market throughout the review period.
A key driver propelling the market in Europe is the growing prominence of golf infrastructure. Despite being primarily centered in the highest-ranked golfing nations, Europe is seeing a steady increase in the number of golf courses. The general public has limited access to several of these facilities since they are only available to private clubs, golf resorts, and golf-specific properties. Currently, a large share of the world's golf course supply can be found in Europe. This growing popularity of golf courses is predicted to raise the demand for golf carts, thereby supporting market growth.
The Germany market dominated the Europe Low-Speed Vehicle Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $935.5 million by 2030. The UK market is showcasing a CAGR of 5.9% during (2023-2030). Additionally, The France market would display a CAGR of 7.6% during (2023-2030).
Based on Category Type, the market is segmented into L7, and L6. Based on Vehicle Type, the market is segmented into Commercial Turf Utility Vehicle, Golf Cart, Industrial Utility Vehicle, and Personal Mobility Vehicle. Based on Power Output, the market is segmented into < 8KW, 8-15KW, and >15KW. Based on Propulsion, the market is segmented into Electric, Diesel, and Gasoline. Based on Battery Type, the market is segmented into Li-Ion, and Lead Acid. Based on Voltage Type, the market is segmented into < 60 V, and >60 V. Based on Application, the market is segmented into Golf Courses, Hotels & Resorts, Airports, Industrial Facilities, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Textron, Inc., Deere & Company, Yamaha Motor Co., Ltd., The Toro Company, KUBOTA Corporation, Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.), Waev, Inc., Club Car, LLC, American LandMaster, and Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
Scope of the Study
By Category Type
- L7
- L6
By Vehicle Type
- Commercial Turf Utility Vehicle
- Golf Cart
- Industrial Utility Vehicle
- Personal Mobility Vehicle
By Power Output
- < 8KW
- 8-15KW
- >15KW
By Propulsion
- Electric
- Diesel
- Gasoline
By Battery Type
- Li-Ion
- Lead Acid
By Voltage Type
- < 60 V
- >60 V
By Application
- Golf Courses
- Hotels & Resorts
- Airports
- Industrial Facilities
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Textron, Inc.
- Deere & Company
- Yamaha Motor Co., Ltd.
- The Toro Company
- KUBOTA Corporation
- Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.)
- Waev, Inc.
- Club Car, LLC
- American LandMaster
- Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
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- Exhaustive coverage
- The highest number of Market tables and figures
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Europe Low-Speed Vehicle Market by Category Type
Chapter 5. Europe Low-Speed Vehicle Market by Vehicle Type
Chapter 6. Europe Low-Speed Vehicle Market by Power Output
Chapter 7. Europe Low-Speed Vehicle Market by Propulsion
Chapter 8. Europe Low-Speed Vehicle Market by Battery Type
Chapter 9. Europe Low-Speed Vehicle Market by Voltage Type
Chapter 10. Europe Low-Speed Vehicle Market by Application
Chapter 11. Europe Low-Speed Vehicle Market by Country
Chapter 12. Company Profiles
Companies Mentioned
- Textron, Inc.
- Deere & Company
- Yamaha Motor Co., Ltd.
- The Toro Company
- KUBOTA Corporation
- Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.)
- Waev, Inc.
- Club Car, LLC
- American LandMaster
- Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
Methodology
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