Global Electric Low Speed Vehicle Market Insights, Size and Growth Forecast To 2027

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Global Electric Low Speed Vehicle Market by Vehicle Type (Two Wheeler Vehicle (EV Scooter, EV Motorcycles, EV Bikes), Three Wheeler Vehicle (E-Rickshaws), Four Wheeler Vehicle (Utility Vehicle, Golf Cart, Electric Hotel Car, Low Speed Heavy Duty Vehicle, Electric Ambulance and Others), By Propulsion Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV) and Hybrid Electric Vehicle (HEV)), By Battery Type(Lead Acid Battery, Lithium-ion Battery and Others) and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
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Global Electric Low Speed Vehicle Market by Vehicle Type (Two Wheeler Vehicle (EV Scooter, EV Motorcycles, EV Bikes), Three Wheeler Vehicle (E-Rickshaws), Four Wheeler Vehicle (Utility Vehicle, Golf Cart, Electric Hotel Car, Low Speed Heavy Duty Vehicle, Electric Ambulance and Others), By Propulsion Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV) and Hybrid Electric Vehicle (HEV)), By Battery Type(Lead Acid Battery, Lithium-ion Battery and Others) and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Published: Dec 2020 Base Year: 2019 Report ID: AMIN2011
Available Format: Historical Data: 2016 - 2018 Pages: 1 - 250
Category : Automotive Industry
Global electric low-speed vehicle market likely to the stringent rules and regulations towards vehicle transmission and decrease in fossil fuel reserves. Global Electric Low-Speed Vehicle Market valued at USD 39.7 billion in 2017, which expected to reach USD 83.37 billion by 2027, growing at a CAGR of 7.12 % during 2020–2027. The primary factors are shifting consumer preferences towards the electric low-speed vehicle as a result of socio-economic variables, psychological factors, mobility conditions, social influence, etc. With the rising cost of fuel, increasing levels of pollution, and congestion in the transport system especially, in urban areas, the huge maintenance cost of the vehicle, the electrically charged two, three, or four-wheelers will demand in the near future. Additionally, the rising preference toward electric vehicles will end in the higher deployment of different products, thus, creating revenue-generating opportunities for key stakeholders in the electric low-speed vehicle market across the globe.
Furthermore, diseases caused by air and water pollution are epidemic among minorities. Environmental pollution causes more than three times death than malaria, tuberculosis, and AIDs; countries such as Indian and China record the maximum death caused by environmental pollution. Due to which several government regulations, particularly pollution prone countries, have initiated supportive policies and programs to produce and adopt electric vehicles, which is surging the demand for the global electric low-speed vehicle over the forecast span. Also, the growing demand for low-cost modes of personal transportation along with adoption of 3D printing technology in the manufacturing of vehicles will augment the global electric low-speed vehicle market across the globe. The benefits of electric vehicles such as produce less than a third of the life-cycle emissions of an average combustion-engine vehicle and these features of electric vehicles strengthen the government’s goals to promote electric vehicles. Hence, incoming the next ten years, the market demand for electric vehicles will propel owing to growing concern regarding environmental pollution.

Vehicle Type Overview in the Global Electric Low-Speed Vehicle Market
Based on vehicle type, the global electric low-speed vehicle market classified into Two-Wheeler Vehicle (EV Scooter, EV Motorcycles, EV Bikes), Three-Wheeler Vehicle (E-Rickshaws), Four-Wheeler Vehicle (Utility Vehicle, Golf Cart, Electric Hotel Car, Low-Speed Heavy-Duty Vehicle, Electric Ambulance, and Others). The Four-Wheeler Vehicle segment likely to lead the market by 2027, owing to rising pollution concerns around the globe along with huge demand for electric demand in various industries such as hospitality, utility, golf, ambulance etc.

Propulsion type Overview in the Global Electric Low-Speed Vehicle market
Based on propulsion type, the global electric low-speed vehicle market segregated into Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), and Hybrid Electric Vehicle (HEV). The Hybrid Electric Vehicle segment witnessed the largest market share in 2019 and will dominate by 2027. It is owing to it usages a battery and the electric motor in addition to an engine that runs on gasoline (petrol). Hybrid Electric Vehicle is hugely demanded in a three-wheeler and four-wheeler vehicles like utility cart.

Battery Type Overview in the Global Electric Low-Speed Vehicle Market
Based on battery type, the global electric low-speed vehicle market classified into Lead Acid Battery, Lithium-ion Battery, and Others. The Lithium-ion Battery segment projected to lead the market by 2027. It is due to the maturing lithium-ion battery supply chains and improving battery manufacturing processes, battery manufacturers and automotive OEMs are continually striving to reduce costs of battery packs.

Regional Overview in the Global Electric Low-Speed Vehicle Market
By geography, the Global Electric Low-Speed Vehicle Market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to government policy and regulatory support for the adoption of electric vehicles along with R&D investments and competitive programs for encouraging vendors to invest in infrastructure.

Global Electric Low-Speed Vehicle Market: Competitive Landscape
Companies such as Terra Motors Corporation, Zero Motorcycles Inc., Changzhou Yufeng Vehicle Co. Ltd., Jiangsu Kingbon Vehicle Co. Ltd., Hero Electric Vehicles Pvt. Ltd., Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd., AGT Electric Cars, Bintelli Electric Vehicles, Bradshaw Electric Vehicles, Ingersoll-Rand Plc, Ligier Group, Polaris Industries Inc., Speedways Electric, Yamaha Motor Co. Ltd., HDK Co., Ltd., and ZHIDOU Electric Vehicle Co. Ltd. are the key players in the Global Electric Low Speed Vehicle Market. 


1. Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation

2. Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition 
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation 

3. Executive Summary

4. Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis 
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2019
4.7. Porter’s Five forces analysis
4.8. New Investment Analysis
4.9. PESTEL Analysis

5. Global Electric Low-Speed Vehicle Market Overview
5.1. Market Size & Forecast, 2016-2027
5.1.1. Demand
5.1.1.1. By Value (USD Million)
5.1.2. Consumption
5.1.2.1. By Volume (Thousands Unit)
5.1.3. Supply/Production
5.1.3.1. By Volume (Thousands Unit)
5.2. Market Share & Forecast, 2016-2027
5.2.1. By Vehicle Type
5.2.1.1. Two Wheeler Vehicle
5.2.1.1.1. EV Scooter
5.2.1.1.2. EV Motorcycles
5.2.1.1.3. EV Bikes
5.2.1.2. Three Wheeler Vehicle
5.2.1.2.1. E-Rickshaws
5.2.1.3. Four Wheeler Vehicle
5.2.1.3.1. Utility Vehicle
5.2.1.3.2. Golf Cart
5.2.1.3.3. Electric Hotel Car
5.2.1.3.4. Low Speed Heavy Duty Vehicle
5.2.1.3.5. Electric Ambulance
5.2.1.3.6. Others
5.2.2. By Propulsion Type
5.2.2.1. Battery Electric Vehicle (BEV)
5.2.2.2. Plug-In Hybrid Electric Vehicle (PHEV)
5.2.2.3.  Hybrid Electric Vehicle (HEV)
5.2.3. By Battery Type
5.2.3.1. Lead Acid Battery
5.2.3.2. Lithium-ion Battery
5.2.3.3. Others
5.2.4. By Region
5.2.4.1. North America
5.2.4.2. Europe
5.2.4.3. Asia Pacific
5.2.4.4. South America 
5.2.4.5. Middle East & Africa 

6. North America Electric Low-Speed Vehicle Market Overview
6.1. North America Electric Low-Speed Vehicle Market Size & Forecast, 2016-2027
6.1.1. Demand
6.1.1.1. By Value (USD Million)
6.1.2. Consumption
6.1.2.1. By Volume (Thousands Unit)
6.1.3. Supply/Production
6.1.3.1. By Volume (Thousands Unit)
6.2. North America Electric Low-Speed Vehicle Market Share & Forecast, 2016-2027
6.2.1. By Vehicle Type
6.2.1.1. Two Wheeler Vehicle
6.2.1.1.1. EV Scooter
6.2.1.1.2. EV Motorcycles
6.2.1.1.3. EV Bikes
6.2.1.2. Three Wheeler Vehicle
6.2.1.2.1. E-Rickshaws
6.2.1.3. Four Wheeler Vehicle
6.2.1.3.1. Utility Vehicle
6.2.1.3.2. Golf Cart
6.2.1.3.3. Electric Hotel Car
6.2.1.3.4. Low Speed Heavy Duty Vehicle
6.2.1.3.5. Electric Ambulance
6.2.1.3.6. Others
6.2.2. By Propulsion Type
6.2.2.1. Battery Electric Vehicle (BEV)
6.2.2.2. Plug-In Hybrid Electric Vehicle (PHEV)
6.2.2.3.  Hybrid Electric Vehicle (HEV)
6.2.3. By Battery Type
6.2.3.1. Lead Acid Battery
6.2.3.2. Lithium-ion Battery
6.2.3.3. Others
6.2.4. By Country
6.2.4.1. US
6.2.4.2. Canada
6.2.4.3. Mexico
6.2.5. Price-Point Analysis
6.2.6. Manufacturer & Distributor List (Top 5)
6.2.7. Company Market Share (Top 3-5)
6.2.8. Economic Impact Study on North America Electric Low-Speed Vehicle Market 

7. Europe Electric Low-Speed Vehicle Market Overview
7.1. Europe Electric Low-Speed Vehicle Market Size & Forecast, 2016-2027
7.1.1. Demand
7.1.1.1. By Value (USD Million)
7.1.2. Consumption
7.1.2.1. By Volume (Thousands Unit)
7.1.3. Supply/Production
7.1.3.1. By Volume (Thousands Unit)
7.2. Europe Electric Low-Speed Vehicle Market Share & Forecast, 2016-2027
7.2.1. By Vehicle Type
7.2.1.1. Two Wheeler Vehicle
7.2.1.1.1. EV Scooter
7.2.1.1.2. EV Motorcycles
7.2.1.1.3. EV Bikes
7.2.1.2. Three Wheeler Vehicle
7.2.1.2.1. E-Rickshaws
7.2.1.3. Four Wheeler Vehicle
7.2.1.3.1. Utility Vehicle
7.2.1.3.2. Golf Cart
7.2.1.3.3. Electric Hotel Car
7.2.1.3.4. Low Speed Heavy Duty Vehicle
7.2.1.3.5. Electric Ambulance
7.2.1.3.6. Others
7.2.2. By Propulsion Type
7.2.2.1. Battery Electric Vehicle (BEV)
7.2.2.2. Plug-In Hybrid Electric Vehicle (PHEV)
7.2.2.3.  Hybrid Electric Vehicle (HEV)
7.2.3. By Battery Type
7.2.3.1. Lead Acid Battery
7.2.3.2. Lithium-ion Battery
7.2.3.3. Others
7.2.4. By Country
7.2.4.1. Germany
7.2.4.2. UK
7.2.4.3. France
7.2.4.4. Italy
7.2.4.5. Rest of Europe
7.2.5. Price-Point Analysis
7.2.6. Manufacturer & Distributor List (Top 5)
7.2.7. Company Market Share (Top 3-5)
7.2.8. Economic Impact Study on Europe Electric Low-Speed Vehicle Market 

8. Asia Pacific Electric Low-Speed Vehicle Market Overview
8.1. Asia Pacific Electric Low-Speed Vehicle Market Size & Forecast, 2016-2027
8.1.1. Demand
8.1.1.1. By Value (USD Million)
8.1.2. Consumption
8.1.2.1. By Volume (Thousands Unit)
8.1.3. Supply/Production
8.1.3.1. By Volume (Thousands Unit)
8.2. Asia Pacific Electric Low-Speed Vehicle Market Share & Forecast, 2016-2027
8.2.1. By Vehicle Type
8.2.1.1. Two Wheeler Vehicle
8.2.1.1.1. EV Scooter
8.2.1.1.2. EV Motorcycles
8.2.1.1.3. EV Bikes
8.2.1.2. Three Wheeler Vehicle
8.2.1.2.1. E-Rickshaws
8.2.1.3. Four Wheeler Vehicle
8.2.1.3.1. Utility Vehicle
8.2.1.3.2. Golf Cart
8.2.1.3.3. Electric Hotel Car
8.2.1.3.4. Low Speed Heavy Duty Vehicle
8.2.1.3.5. Electric Ambulance
8.2.1.3.6. Others
8.2.2. By Propulsion Type
8.2.2.1. Battery Electric Vehicle (BEV)
8.2.2.2. Plug-In Hybrid Electric Vehicle (PHEV)
8.2.2.3.  Hybrid Electric Vehicle (HEV)
8.2.3. By Battery Type
8.2.3.1. Lead Acid Battery
8.2.3.2. Lithium-ion Battery
8.2.3.3. Others
8.2.4. By Country
8.2.4.1. China
8.2.4.2. India
8.2.4.3. Japan
8.2.4.4. Australia
8.2.4.5. Rest of Asia Pacific
8.2.5. Price-Point Analysis
8.2.6. Manufacturer & Distributor List (Top 5)
8.2.7. Company Market Share (Top 3-5)
8.2.8. Economic Impact Study on Asia Pacific Electric Low-Speed Vehicle Market 

9. South America Electric Low-Speed Vehicle Market Overview
9.1. South America Electric Low-Speed Vehicle Market Size & Forecast, 2016-2027
9.1.1. Demand
9.1.1.1. By Value (USD Million)
9.1.2. Consumption
9.1.2.1. By Volume (Thousands Unit)
9.1.3. Supply/Production
9.1.3.1. By Volume (Thousands Unit)
9.2. South America Electric Low-Speed Vehicle Market Share & Forecast, 2016-2027
9.2.1. By Vehicle Type
9.2.1.1. Two Wheeler Vehicle
9.2.1.1.1. EV Scooter
9.2.1.1.2. EV Motorcycles
9.2.1.1.3. EV Bikes
9.2.1.2. Three Wheeler Vehicle
9.2.1.2.1. E-Rickshaws
9.2.1.3. Four Wheeler Vehicle
9.2.1.3.1. Utility Vehicle
9.2.1.3.2. Golf Cart
9.2.1.3.3. Electric Hotel Car
9.2.1.3.4. Low Speed Heavy Duty Vehicle
9.2.1.3.5. Electric Ambulance
9.2.1.3.6. Others
9.2.2. By Propulsion Type
9.2.2.1. Battery Electric Vehicle (BEV)
9.2.2.2. Plug-In Hybrid Electric Vehicle (PHEV)
9.2.2.3.  Hybrid Electric Vehicle (HEV)
9.2.3. By Battery Type
9.2.3.1. Lead Acid Battery
9.2.3.2. Lithium-ion Battery
9.2.3.3. Others
9.2.4. By Country
9.2.4.1. Brazil
9.2.4.2. Argentina
9.2.4.3. Rest of South America
9.2.5. Price-Point Analysis
9.2.6. Manufacturer & Distributor List (Top 5)
9.2.7. Company Market Share (Top 3-5)
9.2.8. Economic Impact Study on South America Electric Low-Speed Vehicle Market

10. Middle East & Africa Electric Low-Speed Vehicle Market Overview
10.1. Middle East & Africa Electric Low-Speed Vehicle Market Size & Forecast, 2016-2027
10.1.1. Demand
10.1.1.1. By Value (USD Million)
10.1.2. Consumption
10.1.2.1. By Volume (Thousands Unit)
10.1.3. Supply/Production
10.1.3.1. By Volume (Thousands Unit)
10.2. Middle East & Africa Electric Low-Speed Vehicle Market Share & Forecast, 2016-2027
10.2.1. By Vehicle Type
10.2.1.1. Two Wheeler Vehicle
10.2.1.1.1. EV Scooter
10.2.1.1.2. EV Motorcycles
10.2.1.1.3. EV Bikes
10.2.1.2. Three Wheeler Vehicle
10.2.1.2.1. E-Rickshaws
10.2.1.3. Four Wheeler Vehicle
10.2.1.3.1. Utility Vehicle
10.2.1.3.2. Golf Cart
10.2.1.3.3. Electric Hotel Car
10.2.1.3.4. Low Speed Heavy Duty Vehicle
10.2.1.3.5. Electric Ambulance
10.2.1.3.6. Others
10.2.2. By Propulsion Type
10.2.2.1. Battery Electric Vehicle (BEV)
10.2.2.2. Plug-In Hybrid Electric Vehicle (PHEV)
10.2.2.3.  Hybrid Electric Vehicle (HEV)
10.2.3. By Battery Type
10.2.3.1. Lead Acid Battery
10.2.3.2. Lithium-ion Battery
10.2.3.3. Others
10.2.4. By Country
10.2.4.1. Saudi Arabia
10.2.4.2. UAE
10.2.4.3. South Africa
10.2.4.4. Rest of Middle East & Africa
10.2.5. Price-Point Analysis
10.2.6. Manufacturer & Distributor List (Top 5)
10.2.7. Company Market Share (Top 3-5)
10.2.8. Economic Impact Study on Middle East & Africa Electric Low-Speed Vehicle Market

11. Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel 
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company Profile
11.7.1. AGT Electric Cars
11.7.2. Bintelli Electric Vehicles
11.7.3. Bradshaw Electric Vehicles
11.7.4. Ingersoll-Rand Plc
11.7.5. Ligier Group
11.7.6. Polaris Industries Inc.
11.7.7. Speedways Electric
11.7.8. Yamaha Motor Co. Ltd.
11.7.9. HDK Co., Ltd. 
11.7.10. Terra Motors Corporation
11.7.11. Zero Motorcycles Inc.
11.7.12. Changzhou Yufeng Vehicle Co. Ltd
11.7.13. Hero Electric Vehicles Pvt. Ltd.
11.7.14. Other Prominent Players



SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Global Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

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