"Market Intelligence for High-Geared Performance"

Low-Speed Electric Vehicle Market Size, Share & Industry Analysis, By Vehicle Type (Passenger vehicle, Heavy-duty vehicle, Utility vehicle, Off-road vehicle), By End-User (Golf Courses, Tourist Destinations, Hotels & Resorts, Airports, Residential & Commercial Premises) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI105797 | Status : Ongoing

 

KEY MARKET INSIGHTS

Past few days, demand for Low-Speed Electric Vehicles Market (LSEVM) is growing rapidly. These low-speed electric vehicles market aim to provide an easy solution for last-mile cargo delivery that is inherently more efficient. These LSEVs are lighter than other vehicles and leave more energy to move the objects that provide value. It also operates at low speed and is specially used in hotels, golf courses, residential, and airports to carry lightweight luggage and 2 or 3 passengers.


The Low-speed electric vehicle is a four-wheeled motor vehicle, and the maximum speed range is between 20kmph to 40kmph, which could load 3-4people. This LSEV is very convenient for daily travel, shopping. It is just the ideal means of transportation.

The low-speed electric vehicle is a new energy vehicle such as of cart and other cars. These vehicles have more comfort and are safer than other golf carts in this market. Passenger vehicles by vehicle type dominate the global market, and the golf course is the most significant contributor by end-user segment. For example, rise in demand for electric vehicles.

The market growth of Low-speed electric vehicles is driven by the stringent government rules and regulations toward vehicle emission and increase in fuel costs. The rise in technological, pollution, advancements, surge in the automobile industry, and decrease in fossil fuel reserves have fueled the development and production of Low Seed Electric Vehicle (LSEV). The High vehicle cost and lack of proper charging infrastructure are some of the major restraining factors of this market.

Up Arrow

Key Market Driver -

• Stringent government rules and regulations toward vehicle emission. • Improvement in electric vehicles R&D & battery technology • Proactive government initiatives • Increase in fuel costs

Down Arrow

Key Market Restraint -

• High cost of electric vehicles • Lack of infrastructure support


Key Players:


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

Key Insights:-



  • Low-speed Electric Vehicle (Class-B) is defined as a low-speed electric vehicle capable of traveling at greater than 25 mph but less than 45 mph. A Class-B Low-Speed Electric Vehicle is operated on a roadway with a speed limit of 45mph.


  • This low electric vehicle was primarily designed to replace conventional ways of travel as they lead to environmental pollution.

  • Many countries have imposed a complete lockdown for more than two months due to the COVID-19 epidemic, which has impacted vehicle production. Manufacturing facilities worldwide have been shut down, and vehicle sales have taken a huge hit. However, the low-speed vehicle resumed production with limited output and necessary measures. Conditions improved in the latter months, but EV manufacturers did not suffer much as demand for zero-emission cars increased during the later months of 2021.


Regional Analysis:


North America accounted for the highest share in the global low-speed electric vehicle market. The trend and outlook of the North American (NA) market are forecast in an optimistic, balanced, and conservative view by taking into account COVID-19.

Europe is the second-largest Low-Speed Electric Vehicles market in the world. The European low-speed electric vehicle market is owing to stringent environmental regulations, improvement in electric vehicle Research & Development, Government subsidies, and advanced battery technology.

Asia-Pacific is the largest market for low-speed electric vehicles. China leads the Asia-Pacific market, In terms of revenue, which has accounted for the highest part. Because of its size, population, technological advancements, and government support in subsidies and regulations, the country has become a significant player in the region's low-speed electric vehicle market.

The Asia Pacific will remain the largest region. It is also expected to witness the highest growth over the forecast period due to government initiatives to reduce carbon emissions and increase traffic congestion.

To gain extensive insights into the market, Request for Customization


Segmentation






















  ATTRIBUTE

  DETAILS

By Vehicle Type



  • Passenger vehicle

  • Heavy-duty vehicle

  • Utility vehicle

  • Off-road vehicle



By End-User

 



  • Golf Courses

  • Tourist Destinations

  • Hotels & Resorts

  • Airports

  • Residential & Commercial Premises



By Region



  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World






  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Automotive & Transportation Clients

Deloitee
Asahi
GM
Bosch
Hitachi

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X