Low speed electric vehicles are light weight vehicles driven by the electric motors for momentum which are fuel efficient and silent. These vehicles are designed, to overcome the rising prices of fossil fuels, to minimize pollution and its impact on nature. The low speed electric vehicles earlier were introduced to meet the requirements of short distance transportation such as golf carts and neighborhood electric vehicles (NEV). The low speed electric vehicles range from small two wheel vehicle to a heavy duty electric truck. The vehicles are typically built to have a speed range amidst 20mph (32km/h) to 25mph (40km/h) since these vehicles don't have to follow the stringent safety road vehicle acts. Increasing oil prices and rising air pollution in developed regions are some of the primary factors which are boosting the trend for low speed electric vehicles. The electric low speed vehicle manufacturers such as Speedway Electric, Hitachi Automotive, Textron Inc., and other such companies are majorly emphasizing on launching innovative products at lower prices and are emphasized on extending their distribution network across the world. The surging demands for fuel efficient and low maintenance LSV’s is generating a huge burden on the low speed vehicles manufacturers to improve the technology of low speed vehicles. Key players have also launched solar powered low speed vehicles which have minimum maintenance costs and additional benefits compared to gasoline vehicles. The market is also rising on the back of technological advancements in these vehicles. It has been observed that the population all over the world is inclining towards economic transportation vehicles owing to the cost saving attributes. In addition, the stringent government norms to minimize harmful tailpipe emissions is projected to further surge the demand for low speed electric vehicles in the near future. These low speed electric vehicles can be used for various purposes, such as utility purposes, as heavy-duty vehicles and for off-road. This is anticipated to propel the growth of the low speed electric vehicles market in coming years. However, the factors such as dearth of government regulation on manufacturing of low speed electric vehicles will limit the market growth.

Moreover, a low speed electric passenger car operates on two sources of energy: an internal combustion engine and an electric battery and motor or generator. It is a traditional internal combustion engine (ICE) vehicle with a large starter motor which can also be used as a generator, commonly known as integrated starter-generator (ISG) or a belted alternator starter (BAS), and a large size battery which powers the vehicle, which is recharged by the motor. Utilizing gasoline diesel injection in vehicles can further reduce the emissions of hybrid vehicles, making it a zero-emission vehicle. Incorporation of GDI systems in hybrid vehicles creates several opportunities for leading players in the future.

The global Low-speed Electric Vehicle (LSEV) Market is segregated on the basis of Vehicle Type as Passenger vehicle, Heavy duty vehicle, Utility vehicle and Off-road vehicle. Based on End User the global Low-speed Electric Vehicle (LSEV) Market is segmented in Golf Courses, Tourist Destinations, Hotels & Resorts, Airports and Residential & Commercial Premises.

The global Low-speed Electric Vehicle (LSEV) Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Low-speed Electric Vehicle (LSEV) Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

HDK Electric Vehicles, Ligier Group, Yamaha Motors Co. Ltd., Speedway Electric, Evergreen Electric Vehicles and others are among the major players in the global Low-speed Electric Vehicle (LSEV) Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In 2019, the Textron Inc. introduced Hauler 800 ELiTE electric utility vehicle with Samsung SDI lithium technology. The Hauler 800 ELiTE provides no-maintenance batteries with increased energy and range efficiency.   
• In October 2017, Yadea Technology Group Co. Ltd. internationally introduced a new electric two-wheeler, Yadea Z3S, at the China National Convention Center in Beijing, China.

The global Low-speed Electric Vehicle (LSEV) Market has been segmented as below:

Low-speed Electric Vehicle (LSEV) Market, By Vehicle Type

• Passenger vehicle
• Heavy duty vehicle
• Utility vehicle
• Off-road vehicle

Low-speed Electric Vehicle (LSEV) Market, By End User

• Golf Courses
• Tourist Destinations
• Hotels & Resorts
• Airports
• Residential & Commercial Premises

Low-speed Electric Vehicle (LSEV) Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Low-speed Electric Vehicle (LSEV) Market, By Company

• HDK Electric Vehicles
• Ligier Group
• Yamaha Motors Co. Ltd.
• Speedway Electric
• Evergreen Electric Vehicles
• Bajaj Auto Ltd.
• Aixam-Mega
• Renault SA
• Textron Inc.
• Polaris Industries
• CitEcar Electric Vehicles
• AGT Electric Cars
• Bintelli Electric Vehicles
• Bradshaw Electric Vehicles
• Ingersoll-Rand plc
• Xiamen Dalle Electric Car Co., Ltd
• Yujie Group Byvin
• Toro Company
• Garia A/S
• ZHIDOU Electric Vehicle Co. Ltd.
• Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd.
  

The report covers the below scope:

• Global Low-speed Electric Vehicle (LSEV) Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Low-speed Electric Vehicle (LSEV) Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Low-speed Electric Vehicle (LSEV) Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Low-speed Electric Vehicle (LSEV) Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Low-speed Electric Vehicle (LSEV) Market share. Major industry players with significant revenue share include HDK Electric Vehicles, Ligier Group, Yamaha Motors Co. Ltd., Speedway Electric, Evergreen Electric Vehicles, Bajaj Auto Ltd. and others.

Why to Buy this Report:

• Gain detailed insights on the Low-speed Electric Vehicle (LSEV) industry trends
• Find complete analysis on the market status
• Identify the Low-speed Electric Vehicle (LSEV) Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

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