According to the recent study the low speed electric vehicle market is projected to reach an estimated $19.4 billion by 2028 from $11.9 billion in 2022, at a CAGR of 8.3% from 2022 to 2028. Growth in this market is primarily driven by stringent environmental regulations, improvement in electric vehicle R&D, advanced battery technology, and government subsidies.
Browse 124 figures/charts and 105 tables in this 184 -page report to understand trends,
opportunities and forecast in low speed electric vehicle market by application
(Golf cart, personal utility vehicles, low speed off road vehicle, low speed
heavy duty vehicle) by voltage (24V, 36V, 48V, 60V and 72V) and region (North
America, Europe, Asia Pacific, and the Rest of the World).
“48 Volt powered LSEV market is expected to remain the largest
segment during the forecast period.”
Based on voltage type,
the low speed electric vehicle market is segmented into 24V, 36V, 48V, 60V and
72V. Lucintel forecasts that the 48 Volt powered LSEV market is expected to
remain the largest segment, due to rising demand for high performance LSEVs.
“Asia pacific will dominate the low speed electric vehicle market
in near future.”
APAC will remain the
largest region and it is also expected to witness the highest growth over the
forecast period due to government initiatives to reduce carbon emission and
increasing traffic congestion.
Major players of low
speed electric vehicle market are adopting various growth strategies like new
product launches, expansions, merger and acquisitions, partnerships,
agreements, and collaborations to expand their presence in this market. BYVIN,
Yogomo, Textron, Shandong Shifeng, Polaris, Groupe Renault, LIGIER GROUP, Yujie
Group, Terra Motors, Changzhou Yufeng Vehicle, Jiangsu Kingbon Vehicle, Jiangsu
East Yonsland Vehicle, and ZHIDOU are among the major low speed electric
vehicle providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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