DUBLIN, Jan. 27, 2023 /PRNewswire/ — The “Low Speed Electric Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global low speed electric vehicle market size reached US$ 3.94 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 9.12 Billion by 2027, exhibiting a CAGR of 15.01% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Electric vehicles (EVs) operate on an electric motor without using an internal-combustion engine that generates power by burning a mixture of gases and fuels. They rely on batteries to power the electric motor, which is connected to a wall outlet or electric vehicle supply equipment (EVSE).
They are highly efficient and cost-effective as EVs have fewer moving parts that require maintenance. In addition, EVs are environment-friendly as they do not emit greenhouse gases, such as carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrochlorofluorocarbons (HCFCs), hydrofluorocarbons (HFCs), and ozone (O3).
At present, there is a rise in the demand for low-speed electric vehicles (LSEVs) across the globe, as they can be charged from home electrical outlets without the need for charging stations.
Low Speed Electric Vehicle Market Trends:
The rising awareness among the masses about the benefits of using LSEV as a low-cost and eco-friendly transportation option represents one of the key factors influencing the market. Besides this, there is an increase in the adoption of 3D printing technology for vehicle customization around the world. This, along with the expanding automobile industry, is strengthening the growth of the market.
Moreover, governments of several countries are providing relaxation in legal age limits and driver licensing for LSEVs. They are also promoting the use of EVs by offering purchase subsidies and vehicle purchase and registration tax rebates, which is contributing to the growth of the market.
In addition, key market players are extensively investing in research and development (R&D) activities to introduce low-cost lithium-ion batteries. In line with this, the increasing utilization of LSEVs as personal vehicles across the globe is offering a favorable market outlook. Apart from this, the escalating demand for fuel-efficient and high-performance vehicles worldwide is bolstering the growth of the market.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AGT Electric Cars, Bintelli Electric Vehicles, Bradshaw Electric Vehicles, HDK Electric Vehicle, Hero Electric Vehicles Pvt Ltd, Polaris Inc., Speedways Electric, Terra Motors Corporation and Textron Inc.
Key Questions Answered in This Report:
How has the global low speed electric vehicle market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global low speed electric vehicle market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the voltage?
What is the breakup of the market based on the battery?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global low speed electric vehicle market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Low Speed Electric Vehicle Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Two-wheelers
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Three-wheelers
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Four-wheelers
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Vehicle Type
7.1 Passenger LSEV
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Heavy-duty LSEV
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Utility LSEV
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Off-road LSEV
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Voltage
8.1 24V
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 36V
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 48V
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 60V
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 72V
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Battery
9.1 Lithium-Ion Battery
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Lead-Acid Battery
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Others
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by End User
10.1 Golf Courses
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Tourist Destinations
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Hotels and Resorts
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Airports
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Residential and Commercial Premises
10.5.1 Market Trends
10.5.2 Market Forecast
10.6 Others
10.6.1 Market Trends
10.6.2 Market Forecast
11 Market Breakup by Region
12 SWOT Analysis
13 Value Chain Analysis
14 Porters Five Forces Analysis
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 AGT Electric Cars
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.2 Bintelli Electric Vehicles
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.3 Bradshaw Electric Vehicles
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.4 HDK Electric Vehicle
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.5 Hero Electric Vehicles Pvt Ltd
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.6 Polaris Inc.
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.6.3 Financials
16.3.6.4 SWOT Analysis
16.3.7 Speedways Electric
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.8 Terra Motors Corporation
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.9 Textron Inc.
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
For more information about this report visit https://www.researchandmarkets.com/r/heq9f8-speed?w=5
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