Low-speed vehicles generally move around with a speed of 20-25mph. These vehicles are mostly battery-driven with minimal chances of emission. Report Segments Low-speed Vehicle Market by Power Output (15kW), by Propulsion (Diesel, Electric, Gasoline), by Application (Industrial Utility, Golf Cart, Personnel Carrier, Public Transport Vehicle), and Regional forecast 2019 to 2023. —
Low-speed Vehicle Industry Key Players Studied In Report:
Polaris Industries (U.S.), Textron (U.S.), Deere & Co. (U.S.), The Toro Company (U.S.), Kubota Corporation (Japan), Yamaha Motor Company Limited (Japan), Club Car (U.S.), Taylor-Dunn (U.S.), American Landmaster (U.S.), Ontario Drive & Gear Ltd. (Canada) and others.
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Global Low-speed Vehicle Market 2019 Analysis:
The global low-speed vehicle market is garnering much attention from various sectors due to which it can expect a smooth run with 5% CAGR during the forecast period (2018-2023). During that time, its valuation can grow from USD 8,613.3 million in 2017 to USD 11,509.6 million by 2023. Market Research Future’s (MRFR) detailed report on the market has its focus on segments, drivers, and competitive analysis of the entire market. This can give a peek into the future market demography and enable market players in having strategies planned accordingly.
The manufacturers are also focusing on expanding the distribution network across the globe, thereby driving the growth of the market. In many countries across the globe, the urban population has started adopting the low-speed vehicles for their routine works, which is driving the market for low-speed vehicles. The increasing environmental awareness is driving the increased demand for zero emission electric and solar powered low-speed vehicles.
However, the lack of government regulations on the manufacturing of low-speed vehicles is a major factor, hindering the growth of low-speed vehicle market.
Key questions answered by the report:
Which applications/segments provides the maximum Low-speed Vehicle Market growth opportunity?
What are the emerging technologies and how it would disrupt the market?
Who are the key players dominating the market, followed by other prominent vendors and strategies adopted by them?
What was the Low-speed Vehicle Market size and what would be the forecast in next few years?
Regional and country attractiveness: mid to long term outlook?
Low-speed Vehicle Market dynamics including trends, opportunities, drivers, challenges and how this would impact the market eco-system?
This study provides an overview of the global low-speed vehicle market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
Detailed analysis of the low-speed vehicle market reveals that the market can be segmented by output, propulsion, and application.
Based on output, the low-speed vehicle market can be segmented into 15kW. 8-15kW segment is dominating the market. Meanwhile, >15kW segment is gaining fast popularity.
Propulsion-wise, the low-speed vehicle market comprises diesel, gasoline, and electric. The electric segment is dominating the market and is expected to gain more momentum than any other during the forecast period.
Application-based segmentation of the low-speed vehicle market industrial utility, golf cart, personnel carrier, and public transport vehicle. Golf cart segment holds the maximum market share and is expected to grow with the fastest CAGR during the forecast period.
North America is leading the low-speed vehicle market with considerable share and is expected to retain its position during the forecast period. The popularity of golf and superior infrastructure for manufacturing segment & public services are providing the region the upper hand. The region is further enjoying the edge owing to the presence of several big shots in this region.
Europe has the second largest market share, and it exhibits similar trends like that of North America. But it is the APAC that can turn the table for the global players. The region has several countries counting on the economic revamping initiated by the respected governments. With booming industries, these vehicles are gaining prominence, and the low-speed vehicle market is enjoying the bliss of much mobilization in sectors to grow further.
Immaculate methodologies applied by dexterous research analysts at Market Research Future (MRFR) bring out the best in the reports. The report is a specimen of deft handling of the subjected market as well which has undergone two complimenting methodology; primary and secondary. The primary method includes obtaining data from interviews and discussions with the market influencers and analyzing of the same for a better grasp over the said market. The method is followed by a secondary one that includes top-down and bottom-up approaches to gain profound insights regarding the industry. The report further contains a detailed analysis of the market trends, factors, and expert inputs to offer a better-quality report.
List of Tables:
TABLE 1 MARKET SYNOPSIS 15
TABLE 2 LIST OF ASSUMPTIONS 18
TABLE 3 LOW SPEED VEHICLE MARKET, BY POWER OUTPUT, 2016-2023 (USD MILLION) 40
TABLE 4 GLOBAL LOW SPEED VEHICLE MARKET, BY PROPULSION, 2016-2023 (USD MILLION) 43
TABLE 5 GLOBAL LOW SPEED VEHICLE MARKET, BY APPLICATION, 2016-2023 (USD MILLION) 47
TABLE 6 GLOBAL LOW SPEED VEHICLE MARKET, BY REGION, 2016-2023 (USD MILLION) 49
TABLE 7 NORTH AMERICA: LOW SPEED VEHICLE MARKET, BY COUNTRY, 2016-2023 (USD MILLION) 50
List of Figures:
FIGURE 1 GLOBAL LOW-SPEED VEHICLE MARKET: MARKET STRUCTURE 18
FIGURE 2 KEY TAKEAWAYS OF THE GLOBAL LOW-SPEED VEHICLE MARKET 19
FIGURE 3 KEY BUYING CRITERIA OF LOW SPEED VEHICLE 19
FIGURE 4 NORTH AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 21
FIGURE 5 EUROPE MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 21
FIGURE 6 ASIA-PACIFIC & MARKET SHARE BY COUNTRY (2017 VS 2023) 22
FIGURE 7 REST OF WORLD MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023) 22
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