Electric Low-Speed Vehicle Market Report 2016-2024: Global Demand Analysis, Key Players, Industry Share, Trends, Statistics, Growth & Forecast

Global Electric Low-Speed Vehicle Market Anticipated to Expand at a CAGR of 15.7% during the Forecast Period 2016-2024

According to Goldstein Research, global electric low-speed vehicle (LSV) market research shows the industry size is expected to reach USD 7.4 billion from estimated USD 2.3 billion in 2015, growing at a CAGR of 15.7% during the forecast period. The increasing demand for low-speed electric vehicle & non-polluting vehicles for in-compound movement such as in hotels, golf courses, airports and others are driving the growth of the market. Further, the rise in the number of golf courses and construction of new large sites will propel the demand for electric low-speed vehicles.

Global electric low-speed vehicle market segmentation has been carried out on the basis of vehicle type, end users, and geography. Geographically, North America accounted for the highest market share of +28% which is driven by increasing environmental awareness among the people and the high number of golf courses in the region. Further, the government of developing countries such as China, India & Brazil is looking for the increase in investments to deploy electric LSV in the public transport system. 

Market Segmentation

On the basis of our in-depth analysis, Global Electric Low-Speed Vehicle Market can be segmented as follows:

By Vehicle Type

By End Users

  • Golf courses
  • Airports
  • Hotels and resorts
  • Residential premises
  • Other (Tourist spots, etc.)

By Region

  • North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

Electric Low-Speed Vehicle Market Analysis” contains the detailed overview of the global electric low-speed vehicle market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by vehicle type and end users.

Further, for the in-depth analysis, Global Electric Low-Speed Vehicle Market Report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Textron, Global Electric Motors (GEM), Reva, Zenn Motors, Hitachi Chemicals, Ingersoll Rand, Yamaha motors, Polaris, Star EV, Dongfeng Electric Vehicles Co. Ltd., Bradshaw Electric Vehicles, etc.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. overall, the report represents the global electric low-speed vehicle market trends along with the market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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