This report Covered forecasts revenue growth at global, regional, and country levels and provides an analysis of industry trends in each of the sub-segments from 2018 to 2025. For this study, QY Researchhas segmented the Global Low Speed Electric Vehicles Sales Market report based on product, technology, application, and region:
City of Industry, CA -- (SBWIRE) -- 06/15/2018 -- This report studies the global Low Speed Electric Vehicles market status and forecast, categorizes the global Low Speed Electric Vehicles market size (value & volume) by key players, type, application, and region. This report focuses on the top players in North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America).
A low speed electric vehicle (LSV) is a four-wheeled vehicle with an attainable speed of more than 20 miles per hour but not more than 25 miles per hour (in China, not more than 70 kilometers per hour) on a paved surface, and it has a gross vehicle weight rating (GVWR) of less than 3,000 pounds. It cannot be powered by gas or diesel fuel.
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Global consumption of low speed electric vehicles surged in the past two years with the good sales of scooters in China market. Global low speed electric vehicles are expected to sales 1.5 million units in 2021 and more than 80% will appear in China market, which exhibits a promising trend of the industry. For the products types, lithium ion batteries based low speed electric vehicles are more favored in USA, Europe and Japan, while lead-acid batteries based products take a large market share in China.
Attracted by the market profits, more and more companies have entered into low speed electric vehicles industry, the competition between manufacturers at home and abroad is fierce for the time being. For the major players of low speed electric vehicles industry in global market, Textron and Yamaha are the leaders. For another, China suppliers such as Yogomo, Dojo and Shifeng have obvious large sales market share.
Briefly speaking, in the nest short years, low speed electric vehicles industry is still a highly energetic field. It will come true that low speed electric vehicles market holds a CAGR over 10% in the next five years. Price and performance will be the attractive point for consumers. For the fierce competition, consolidation of low speed electric vehicles industry is expected to appear.
The global Low Speed Electric Vehicles market is valued at 4790 million US$ in 2017 and will reach 9520 million US$ by the end of 2025, growing at a CAGR of 9.0% during 2018-2025.
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The major players covered in this report
Textron
Yamaha
Polaris
Renault
Garia
Ingersoll Rand
CiEcar Electric Vehicles
Star EV
Melex
Columbia
Yogomo
Dojo
Shifeng
Byvin
Lichi
Baoya
Fulu
Tangjun
Xinyuzhou
GreenWheel EV
Incalu
Kandi
APACHE
Zheren
Eagle
Taiqi