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Low-Speed Vehicle Market by Vehicle Type (Commercial Turf Utility, Industrial Utility, Golf Cart, Personal), Power Output (15 KW), Motor Type & Configuration, Propulsion, Battery Type, Application, Category, Voltage - Forecast to 2030

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    Report

  • 279 Pages
  • June 2024
  • Region: Global
  • Markets and Markets
  • ID: 5025112
Description Jump to:
The low-speed vehicle market is projected to grow from USD 11.1 billion in 2024 to USD 16.3 billion by 2030, at a CAGR of 6.6%. The World Bank statistics say the global population is increasing at ~1% annually, where nearly 35% of the worldwide population came under the 40-79 age group in 2020. Almost 25% of the population in the US was 60 years and above, and European nations had an average of 21.5% of the population above 60 years and above. Further, Japan presently has ~28% of its population in the 60 and above age group. The demand for senior mobility solutions is also growing with the growing aged population. Additionally, the anticipated growth of low-speed vehicles (LSVs) has risen as golf gains popularity across North America, Europe, and Asian countries. Given these factors, LSVs are the preferred choice for transportation at golf courses, tourist spots, and daily short-distance commutes for the retired community, driving market demand during the review period.

Golf courses are expected to be the dominant low-speed vehicle application.

Golf has been considered an elite sport for leisure pastime, and a significant surge has been noticed recently as it has attracted a wider audience of any age group. According to the National Golf Foundation, around 26.6 million people in the US played golf in 2023, an increase of approximately 1 million golf enthusiasts compared to 2022. Most golf courses worldwide are in the western hemisphere, so the US is at the forefront, boasting over 16,000 courses. Additionally, the growing popularity of golf can be attributed to an increase in rewards and prize money.

Per the Professional Golf Tour of India (PGTI), prize money for events organized in Asia Pacific has scaled up to a range from USD 30,000 to USD 0.2 million in professional golf tournaments. Though Japan has prominent golf demand, China, India, and Thailand are promising golf club businesses owing to increased disposable income and tourist visitors. The rising number of golf clubs offers numerous benefits to packaged family membership card holders, including family-friendly environments, luxury rooms, fitness facilities, and advanced amenities designed to attract new members. This trend is expected to drive demand for golf carts with 2 to 8-seater capacities, presenting a promising growth outlook for the golf cart market in these countries in the coming years.

The LSVs within 60-100V batteries are projected to grow fastest by 2030.

The 60-100V battery segment of electric low-speed vehicles is installed with six or eight batteries, and the Voltage could be 72V. LSVs with 72V provide better power, efficiency, and improved range and hence are used for industrial facilities, manufacturing plants, office transport, golf courses, and resorts in hilly areas. According to MnM analysis, the estimated range of a 72V LSV is above 35 to 40 miles on a single charge and can be recharged faster when plugged in with a higher capacity 1500w charger. These high-voltage batteries are mainly preferred in commercial utility vehicles.

Commercial turf utility vehicles have more penetration in the North American region due to the expansion of golf courses and sports facilities and development in the infrastructure sector. Further, with innovation and development, many companies have started offering regenerative braking technology to extend the vehicle's range. Additionally, the shift of many businesses to online operations has led to a surge in mega distribution centers and warehouses worldwide located at remote or higher altitudes to meet public demand. This growth has driven up sales of electric commercial turf and industrial utility vehicles to provide sufficient power delivery to pull large packages. For instance, In June 2021, Club Car (US) launched its new electric truck in partnership with AYRO Inc. (US), equipped with a 72 V battery. As the demand for commercial turf utility vehicles will grow, the demand for 60-100 V batteries is expected to increase during the forecast period.

Europe is another prominent market for low-speed vehicles.

The European region is one of the lucrative markets for low-speed vehicle manufacturers during the forecast period. The rising market demand in Europe can be attributed to the strong demand for golf sports and the rapid growth of the hospitality and tourism sectors. Many EU countries host professional tournaments, such as the BMW International Open, German Championship, European Open, and Pro Golf Tour, inviting several international players and visitors to participate in these events. The UK accounts for the region's largest market for low-speed vehicles, holding the maximum share of the total European low-speed vehicle market, followed by France and Germany.

Low-speed cars with up to 5 kW power output are preferred in resorts and golf courses. Commercial turf utility and industrial utility vehicles are widely chosen across the region owing to the higher growth rate of the travel and tourism industry and industrial sector. With a strong regional distribution network, north American OEMs significantly influence the European market.

In addition, the regional LSV manufacturers are also emphasizing the development of pure electric low-speed vehicles due to stringent emission laws, regional body commitment towards carbon-neutral regions, and growing developments in the charging infrastructures across the EU. With higher demand for these low-power electric LSVs, Chinese players are exporting golf carts, commercial turf, and industry utility vehicles to European countries at relatively lower costs. With growing tourism activities, hotels and resorts are keen to offer the best possible services, and customers also prefer convenient, safe, and clean mobility solutions, leading to the regional growth of low-speed electric vehicles.

The break-up of the profile of primary participants in the low-speed vehicle market:

  • By Stakeholder Type: LSV Manufacturers - 60% and Component Manufacturers - 40%
  • By Designation: C Level Executives - 30%, Director Level - 30%, Others - 40%
  • By Region: North America - 30%, Europe - 25%, and Asia Pacific - 45%

Prominent companies include Textron Inc. (US), Deere & Company (US), Yamaha Motor Co. Ltd. (Japan), The Toro Company (US), Waev Inc. (US), and Club Car (US).

Research Coverage:

This research report categorizes the LSV market By Application (Golf courses, hotels and restaurants, airports, industrial facilities, and others), by Vehicle Type (Golf cart, industrial turf utility vehicle, commercial utility vehicle, and personal mobility vehicle), by Power Output (≤5kW, 6-15 kW, and >15 kW), by propulsion type (Electric, gasoline, and diesel), by Voltage (< 60V, 60-100 V, and >100 V), by Motor Type (AC Motor and DC Motor), by Motor Configuration (Mid-Mounted and hub-Mounted), by Battery Type (Lithium-ion, and Lead acid), by category type (L6 Vehicle and L7 Vehicle) and by region (North America, Europe, Asia Pacific, and Rest of the World).

The report's scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the LSV market. A thorough analysis of the key industry players has provided insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements, new product & service launches; mergers and acquisitions, recession impact; and recent developments associated with the LSV market. This report covers a competitive analysis of upcoming startups in the LSV market ecosystem.

Reasons to buy this report:

The report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall LSV market and the subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Need of golf carts and street legal vehicle with autonomous technology for the geriatric population for their daily commute, increasing popularity of golf sports with increase in number of golf courses in US and Asia Pacific region, and increase in charging infrastructure), restraints (High cost of LSVs has lower sales of the vehicles in developing and underdeveloped countries), opportunities (Increase in infrastructure development in real estate, hotel and resort, and rehabilitation in other European countries for the families of Ukraine after Russia war, increase in autonomous vehicle and connected car technology for better experience of the LSV riders, and increase in global tourism sector which has reached to pre pandemic situation), and challenges (Adoption of lithium ion batteries with high density has increased the battery cost compared to lead acid battery, and lack of safety standards followed by the OEMs with LSV body structure design) are influencing the growth of the LSV market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the LSV market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the LSV market across varied regions.
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the LSV market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Textron Inc. (US), Deere & Company (US), Club Car (US), The Toro Company (US), and Yamaha Motor Co Ltd (Japan) among others in the LSV market
The report also helps stakeholders understand the pulse of the automotive micro-mobility market & electric vehicle market by providing them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
Table 1 Inclusion and Exclusions
1.3 Study Scope
Figure 1 Low-Speed Vehicle Market Segmentation
1.3.1 Regions Covered
1.3.2 Years Considered
1.4 Currency Considered
Table 2 Currency Exchange Rates
1.5 Unit Considered
1.6 Stakeholders
1.7 Summary of Changes
2 Research Methodology
2.1 Research Data
Figure 2 Research Design
Figure 3 Research Design Model
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.1.2 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Breakdown of Primary Interviews
2.1.3 Sampling Techniques and Data Collection Methods
2.2 Market Size Estimation
Figure 4 Research Methodology: Hypothesis Building
2.2.1 Bottom-Up Approach
Figure 5 Bottom-Up Approach
2.2.2 Top-Down Approach
Figure 6 Top-Down Approach
Figure 7 Factor Analysis for Market Sizing: Demand and Supply Sides
2.3 Factor Analysis
2.4 Data Triangulation
Figure 8 Data Triangulation
2.5 Recession Impact Analysis
2.6 Research Assumptions
Table 3 Research Assumptions
2.7 Research Limitations
3 Executive Summary
Figure 9 Low-Speed Vehicle Market Overview
Figure 10 Low-Speed Vehicle Market, by Vehicle Type, 2024-2030
4 Premium Insights
4.1 Attractive Opportunities for Players in Low-Speed Vehicle Market
Figure 11 Rising Demand from End-use Applications to Drive Market
4.2 Low-Speed Vehicle Market, by Vehicle Type
Figure 12 Industry Utility Vehicle to be Largest Segment in 2024
4.3 Low-Speed Vehicle Market, by Propulsion
Figure 13 Electric Segment to Secure Leading Market Position During Forecast Period
4.4 Low-Speed Vehicle Market, by Battery Type
Figure 14 Lithium-Ion Battery to Hold Higher Market Share During Forecast Period
4.5 Low-Speed Vehicle Market, by Application
Figure 15 Golf Course to Surpass Other Segments During Forecast Period
4.6 Low-Speed Vehicle Market, by Power Output
Figure 16 =5 kW Segment to Hold Highest Share in 2024
4.7 Low-Speed Vehicle Market, by Voltage
Figure 17 =60 V Segment to be Dominant During Forecast Period
4.8 Low-Speed Vehicle Market, by Category
Figure 18 L6 Vehicle to be Fastest-Growing Segment During Forecast Period
4.9 Low-Speed Vehicle Market, by Motor Type
Figure 19 AC Motor to be Larger Segment Than DC Motor During Forecast Period
4.10 Low-Speed Vehicle Market, by Motor Configuration
Figure 20 Mid-Mounted Segment to Acquire Maximum Share in 2024
4.11 Low-Speed Vehicle Market, by Region
Figure 21 North America to be Largest Market for Low-Speed Electric Vehicles During Forecast Period
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 22 Low-Speed Vehicle Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Geriatric Population
Figure 23 US: Share of Geriatric Population (65 and Above), 1990-2030
5.2.1.2 Growing Popularity of Golf
Table 4 Total Golf Courses, by Country, 2023
Table 5 Major Golf Events
5.2.1.3 Adequate EV Charging Infrastructure
Figure 24 Europe: EV Charging Stations, 2022
5.2.2 Restraints
5.2.2.1 High Cost of Low-Speed Vehicles in Emerging Markets
5.2.3 Opportunities
5.2.3.1 Booming Real Estate and Other Commercial Sectors
5.2.3.2 Development of Autonomous and Connected Technologies
Table 6 OEMs with Connected Technology Features
5.2.3.3 Expanding Global Tourism
Figure 25 Travel and Tourism GDP, 2022
5.2.4 Challenges
5.2.4.1 Substantial Cost of Batteries
5.2.4.2 Lack of Safety Standards and Equipment
5.3 Trends and Disruptions Impacting Customers’ Businesses
Figure 26 Trends and Disruptions Impacting Customers’ Businesses
5.4 OEM Analysis
Figure 27 Voltage vs. Seating Occupancy, by OEM
5.5 Case Study Analysis
5.5.1 Enhanced Nvh Performance of Ice Golf Cars
5.5.2 Palm Desert Golf Cart Transportation Pilot Program
5.5.3 Solar-Powered Electric Golf Carts
5.5.4 Improvements in Existing Autonomous Golf Carts
5.5.5 Autonomous Golf Carts by Carteav
5.6 Patent Analysis
Figure 28 Patent Analysis
Table 7 Patent Analysis
5.7 Trade Analysis
5.7.1 Export Data
Table 8 China: Export, by Country (USD Thousand)
Table 9 US: Export, by Country (USD Thousand)
Table 10 Canada: Export, by Country (USD Thousand)
Table 11 Finland: Export, by Country (USD Thousand)
Table 12 Netherlands: Export, by Country (USD Thousand)
Table 13 Germany: Export, by Country (USD Thousand)
5.7.2 Import Data
Table 14 US: Import, by Country (USD Thousand)
Table 15 Canada: Import, by Country (USD Thousand)
Table 16 Sweden: Import, by Country (USD Thousand)
Table 17 Russia: Import, by Country (USD Thousand)
Table 18 Uk: Import, by Country (USD Thousand)
Table 19 Norway: Import, by Country (USD Thousand)
5.8 Investment and Funding Scenario
Figure 29 Investment and Funding Scenario, 2021-2024
Table 20 List of Fundings, 2023-2024
5.9 Supply Chain Analysis
Figure 30 Supply Chain Analysis
5.10 Ecosystem Mapping
Figure 31 Ecosystem Analysis
Figure 32 Ecosystem Map
Table 21 Role of Companies in Ecosystem
5.11 Pricing Analysis
5.11.1 Average Selling Price Trend, by Region
Table 22 Average Selling Price of Low-Speed Vehicles, by Region, 2020-2024
Figure 33 Average Selling Price of Low-Speed Vehicles, by Region, 2020-2024
5.11.2 Average Selling Price Trend, by Vehicle Type
Table 23 Average Selling Price of Low-Speed Vehicles, by Vehicle Type, 2020-2024
5.12 Regulatory Landscape
5.12.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.12.1.1 North America
Table 24 North America: Regulatory Bodies, Government Agencies, and Other Organizations
5.12.1.2 Europe
Table 25 Europe: Regulatory Bodies, Government Agencies, and Other Organizations
5.12.1.3 Asia-Pacific
Table 26 Asia-Pacific: Regulatory Bodies, Government Agencies, and Other Organizations
5.12.1.4 Rest of the World
Table 27 Rest of the World: Regulatory Bodies, Government Agencies, and Other Organizations
5.12.2 Regulations Related to Low-Speed Vehicles
5.12.2.1 US
Table 28 US: Regulations for Low-Speed Vehicles
5.12.2.2 Canada
Table 29 Canada: Regulations for Low-Speed Vehicles
5.12.2.3 Europe/Asia
Table 30 Europe/Asia: Regulations for Low-Speed Vehicles
5.13 Technology Analysis
5.13.1 Key Technology
5.13.1.1 Electrification
5.13.2 Complimentary Technology
5.13.2.1 Improved Luxury and Safety Features
5.13.2.2 Advanced Gps and Sensors
5.14 Key Stakeholders and Buying Criteria
5.14.1 Key Stakeholders in Buying Process
Figure 34 Influence of Stakeholders on Buying Process, by Application
Table 31 Influence of Stakeholders on Buying Process, by Application (%)
5.14.2 Buying Criteria
Figure 35 Key Buying Criteria, by Vehicle Type
Table 32 Key Buying Criteria, by Vehicle Type
5.15 Key Conferences and Events, 2024-2025
Table 33 Key Conferences and Events, 2024-2025
6 Low-Speed Vehicle Market, by Vehicle Type
6.1 Introduction
Figure 36 Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
Table 34 Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 35 Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 36 Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 37 Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
6.2 Golf Cart
6.2.1 Surging Interest in Golf to Drive Market
Table 38 Golf Cart Market, by Region, 2019-2023 (Units)
Table 39 Golf Cart Market, by Region, 2024-2030 (Units)
Table 40 Golf Cart Market, by Region, 2019-2023 (USD Million)
Table 41 Golf Cart Market, by Region, 2024-2030 (USD Million)
6.3 Commercial Turf Utility Vehicle
6.3.1 Booming Tourism and Hospitality Industries to Drive Market
Table 42 Commercial Turf Utility Vehicle Market, by Region, 2019-2023 (Units)
Table 43 Commercial Turf Utility Vehicle Market, by Region, 2024-2030 (Units)
Table 44 Commercial Turf Utility Vehicle Market, by Region, 2019-2023 (USD Million)
Table 45 Commercial Turf Utility Vehicle Market, by Region, 2024-2030 (USD Million)
6.4 Industrial Utility Vehicle
6.4.1 Rising Construction Activities to Drive Market
Table 46 Industrial Utility Vehicle Market, by Region, 2019-2023 (Units)
Table 47 Industrial Utility Vehicle Market, by Region, 2024-2030 (Units)
Table 48 Industrial Utility Vehicle Market, by Region, 2019-2023 (USD Million)
Table 49 Industrial Utility Vehicle Market, by Region, 2024-2030 (USD Million)
6.5 Personal Mobility Vehicle
6.5.1 Growing Acceptance of Street-Legal Vehicles to Drive Market
Table 50 Personal Mobility Vehicle Market, by Region, 2019-2023 (Units)
Table 51 Personal Mobility Vehicle Market, by Region, 2024-2030 (Units)
Table 52 Personal Mobility Vehicle Market, by Region, 2019-2023 (USD Million)
Table 53 Personal Mobility Vehicle Market, by Region, 2024-2030 (USD Million)
6.6 Industry Insights
7 Low-Speed Vehicle Market, by Power Output
7.1 Introduction
Figure 37 Low-Speed Vehicle Market, by Power Output, 2024-2030 (USD Million)
Table 54 Low-Speed Vehicle Market, by Power Output, 2019-2023 (Units)
Table 55 Low-Speed Vehicle Market, by Power Output, 2024-2030 (Units)
Table 56 Low-Speed Vehicle Market, by Power Output, 2019-2023 (USD Million)
Table 57 Low-Speed Vehicle Market, by Power Output, 2024-2030 (USD Million)
7.2 =5 kW
7.2.1 Increasing Demand for Low-Power Output Vehicles to Drive Market
Table 58 =5 kW: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 59 =5 kW: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 60 =5 kW: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 61 =5 kW: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
7.3 6-15 kW
7.3.1 Extensive Use in Commercial Mobility to Drive Market
Table 62 6-15 kW: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 63 6-15 kW: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 64 6-15 kW: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 65 6-15 kW: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
7.4 >15 kW
7.4.1 High Demand from Industrial Facilities to Drive Market
Table 66 >15 kW: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 67 >15 kW: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 68 >15 kW: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 69 >15 kW: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
7.5 Industry Insights
8 Low-Speed Vehicle Market, by Battery Type
8.1 Introduction
Figure 38 Low-Speed Vehicle Market, by Battery Type, 2024-2030 (USD Million)
Table 70 Low-Speed Vehicle Market, by Battery Type, 2019-2023 (Units)
Table 71 Low-Speed Vehicle Market, by Battery Type, 2024-2030 (Units)
Table 72 Low-Speed Vehicle Market, by Battery Type, 2019-2023 (USD Million)
Table 73 Low-Speed Vehicle Market, by Battery Type, 2024-2030 (USD Million)
8.2 Lithium-Ion Battery
8.2.1 Higher Range and Efficiency to Drive Market
Table 74 Lithium-Ion Battery: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 75 Lithium-Ion Battery: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 76 Lithium-Ion Battery: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 77 Lithium-Ion Battery: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
8.3 Lead-Acid Battery
8.3.1 Peukert Effect to Impede Market
Table 78 Lead-Acid Battery: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 79 Lead-Acid Battery: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 80 Lead-Acid Battery: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 81 Lead-Acid Battery: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
8.4 Industry Insights
9 Low-Speed Vehicle Market, by Application
9.1 Introduction
Figure 39 Low-Speed Vehicle Market, by Application, 2024-2030 (USD Million)
Table 82 Low-Speed Vehicle Market, by Application, 2019-2023 (Units)
Table 83 Low-Speed Vehicle Market, by Application, 2024-2030 (Units)
Table 84 Low-Speed Vehicle Market, by Application, 2019-2023 (USD Million)
Table 85 Low-Speed Vehicle Market, by Application, 2024-2030 (USD Million)
9.2 Golf Course
9.2.1 Increasing Participation in Golf to Drive Market
Table 86 Golf Course: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 87 Golf Course: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 88 Golf Course: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 89 Golf Course: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
9.3 Hotel & Resort
9.3.1 Growing Investments in Hospitality Industry to Drive Market
Table 90 Hotel & Resort: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 91 Hotel & Resort: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 92 Hotel & Resort: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 93 Hotel & Resort: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
9.4 Airport
9.4.1 Rising Passenger and Cargo Traffic to Drive Market
Table 94 Airport: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 95 Airport: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 96 Airport: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 97 Airport: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
9.5 Industrial Facility
9.5.1 Low Maintenance Costs of Low-Speed Vehicles to Drive Market
Table 98 Industrial Facility: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 99 Industrial Facility: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 100 Industrial Facility: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 101 Industrial Facility: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
9.6 Other Applications
Table 102 Other Applications: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 103 Other Applications: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 104 Other Applications: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 105 Other Applications: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
9.7 Industry Insights
10 Low-Speed Vehicle Market, by Propulsion
10.1 Introduction
Figure 40 Low-Speed Vehicle Market, by Propulsion, 2024-2030 (USD Million)
Table 106 Low-Speed Vehicle Market, by Propulsion, 2019-2023 (Units)
Table 107 Low-Speed Vehicle Market, by Propulsion, 2024-2030 (Units)
Table 108 Low-Speed Vehicle Market, by Propulsion, 2019-2023 (USD Million)
Table 109 Low-Speed Vehicle Market, by Propulsion, 2024-2030 (USD Million)
10.2 Electric
10.2.1 Developments in Charging Infrastructure to Drive Market
Table 110 Electric: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 111 Electric: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 112 Electric: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 113 Electric: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
10.3 Gasoline
10.3.1 High Power Output and Load-Carrying Capacity to Drive Market
Table 114 Gasoline: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 115 Gasoline: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 116 Gasoline: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 117 Gasoline: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
10.4 Diesel
10.4.1 Stringent Emission Norms to Stunt Growth
Table 118 Diesel: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 119 Diesel: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 120 Diesel: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 121 Diesel: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
10.5 Industry Insights
11 Low-Speed Vehicle Market, by Category
11.1 Introduction
Figure 41 Low-Speed Vehicle Market, by Category, 2024-2030 (Units)
Table 122 Low-Speed Vehicle Market, by Category, 2019-2023 (Units)
Table 123 Low-Speed Vehicle Market, by Category, 2024-2030 (Units)
11.2 L7 Vehicle
11.2.1 Growing Preference for Microcars to Drive Market
Table 124 L7 Vehicles Market, by Region, 2019-2023 (Units)
Table 125 L7 Vehicles Market, by Region, 2024-2030 (Units)
11.3 L6 Vehicle
11.3.1 Expanding Travel and Tourism Industry to Drive Market
Table 126 L6 Vehicles Market, by Region, 2019-2023 (Units)
Table 127 L6 Vehicles Market, by Region, 2024-2030 (Units)
11.4 Industry Insights
12 Low-Speed Vehicle Market, by Voltage
12.1 Introduction
Figure 42 Low-Speed Vehicle Market, by Voltage, 2024-2030 (USD Million)
Table 128 Low-Speed Vehicle Market, by Voltage, 2019-2023 (Units)
Table 129 Low-Speed Vehicle Market, by Voltage, 2024-2030 (Units)
Table 130 Low-Speed Vehicle Market, by Voltage, 2019-2023 (USD Million)
Table 131 Low-Speed Vehicle Market, by Voltage, 2024-2030 (USD Million)
12.2 =60 V
12.2.1 Adequate Power and Cost Efficiency to Drive Market
Table 132 =60 V: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 133 =60 V: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 134 =60 V: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 135 =60 V: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
12.3 61-100 V
12.3.1 Improved Range and Efficiency to Drive Market
Table 136 61-100 V: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 137 61-100 V: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 138 61-100 V: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 139 61-100 V: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
12.4 >100 V
12.4.1 Untapped Potential for Robust Performance in Rugged Terrains to Drive Market
Table 140 >100 V: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 141 >100 V: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 142 >100 V: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 143 >100 V: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
12.5 Industry Insights
13 Low-Speed Vehicle Market, by Motor Configuration
13.1 Introduction
Figure 43 Low-Speed Vehicle Market, by Motor Configuration, 2024-2030 (USD Million)
Table 144 Low-Speed Vehicle Market, by Motor Configuration, 2019-2023 (Units)
Table 145 Low-Speed Vehicle Market, by Motor Configuration, 2024-2030 (Units)
Table 146 Low-Speed Vehicle Market, by Motor Configuration, 2019-2023 (USD Million)
Table 147 Low-Speed Vehicle Market, by Motor Configuration, 2024-2030 (USD Million)
13.2 Hub-Mounted
13.2.1 Rising Demand for Sustainable Transportation Solutions to Drive Market
Table 148 Hub-Mounted: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 149 Hub-Mounted: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 150 Hub-Mounted: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 151 Hub-Mounted: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
13.3 Mid-Mounted
13.3.1 Ongoing Electrification Trend to Drive Market
Table 152 Mid-Mounted: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 153 Mid-Mounted: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 154 Mid-Mounted: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 155 Mid-Mounted: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
13.4 Other Motor Configurations
13.5 Industry Insights
14 Low-Speed Vehicle Market, by Motor Type
14.1 Introduction
Figure 44 Low-Speed Vehicle Market, by Motor Type, 2024-2030 (USD Million)
Table 156 Low-Speed Vehicle Market, by Motor Type, 2019-2023 (Units)
Table 157 Low-Speed Vehicle Market, by Motor Type, 2024-2030 (Units)
Table 158 Low-Speed Vehicle Market, by Motor Type, 2019-2023 (USD Million)
Table 159 Low-Speed Vehicle Market, by Motor Type, 2024-2030 (USD Million)
14.2 AC Motor
14.2.1 Efficiency and Simple Design to Drive Market
Table 160 AC Motor: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 161 AC Motor: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 162 AC Motor: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 163 AC Motor: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
14.3 DC Motor
14.3.1 Ease of Controlling Speed and Torque to Drive Market
Table 164 DC Motor: Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 165 DC Motor: Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 166 DC Motor: Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 167 DC Motor: Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
14.4 Industry Insights
15 Low-Speed Vehicle Market, by Region
15.1 Introduction
Figure 45 Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
Table 168 Low-Speed Vehicle Market, by Region, 2019-2023 (Units)
Table 169 Low-Speed Vehicle Market, by Region, 2024-2030 (Units)
Table 170 Low-Speed Vehicle Market, by Region, 2019-2023 (USD Million)
Table 171 Low-Speed Vehicle Market, by Region, 2024-2030 (USD Million)
15.2 Asia-Pacific
15.2.1 Recession Impact Analysis
Figure 46 Asia-Pacific: Low-Speed Vehicle Market Snapshot
Table 172 Asia-Pacific: Low-Speed Vehicle Market, by Country, 2019-2023 (Units)
Table 173 Asia-Pacific: Low-Speed Vehicle Market, by Country, 2024-2030 (Units)
Table 174 Asia-Pacific: Low-Speed Vehicle Market, by Country, 2019-2023 (USD Million)
Table 175 Asia-Pacific: Low-Speed Vehicle Market, by Country, 2024-2030 (USD Million)
15.2.2 China
15.2.2.1 Ongoing Development of Low-Speed Vehicles to Drive Market
Table 176 China: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 177 China: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 178 China: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 179 China: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.2.3 India
15.2.3.1 Predominant Use of Low-Speed Vehicles in Industrial Sector to Drive Market
Table 180 India: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 181 India: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 182 India: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 183 India: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.2.4 Japan
15.2.4.1 Increasing Need for Industrial Utility Vehicles to Drive Market
Table 184 Japan: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 185 Japan: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 186 Japan: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 187 Japan: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.2.5 South Korea
15.2.5.1 Expanding Tourism Industry to Drive Market
Table 188 South Korea: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 189 South Korea: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 190 South Korea: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 191 South Korea: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.2.6 Thailand
15.2.6.1 Affordable Golfing Options to Drive Market
Table 192 Thailand: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 193 Thailand: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 194 Thailand: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 195 Thailand: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.2.7 Indonesia
15.2.7.1 Rising Tourist Activities to Drive Market
Table 196 Indonesia: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 197 Indonesia: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 198 Indonesia: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 199 Indonesia: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.2.8 Vietnam
15.2.8.1 Upcoming Golf Events to Drive Market
Table 200 Vietnam: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 201 Vietnam: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 202 Vietnam: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 203 Vietnam: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.2.9 Philippines
15.2.9.1 Growing Golfers Community to Drive Market
Table 204 Philippines: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 205 Philippines: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 206 Philippines: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 207 Philippines: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.3 North America
15.3.1 Recession Impact Analysis
Figure 47 North America: Low-Speed Vehicle Market Snapshot
Table 208 North America: Low-Speed Vehicle Market, by Country, 2019-2023 (Units)
Table 209 North America: Low-Speed Vehicle Market, by Country, 2024-2030 (Units)
Table 210 North America: Low-Speed Vehicle Market, by Country, 2019-2023 (USD Million)
Table 211 North America: Low-Speed Vehicle Market, by Country, 2024-2030 (USD Million)
15.3.2 US
15.3.2.1 Stringent Vehicle Emission Standards to Drive Market
Table 212 US: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 213 US: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 214 US: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 215 US: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.3.3 Mexico
15.3.3.1 Growing Demand from Hospitality Industry to Drive Market
Table 216 Mexico: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 217 Mexico: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 218 Mexico: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 219 Mexico: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.3.4 Canada
15.3.4.1 Rapid Developments by Key Players to Drive Market
Table 220 Canada: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 221 Canada: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 222 Canada: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 223 Canada: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.4 Europe
15.4.1 Recession Impact Analysis
Figure 48 Europe: Low-Speed Vehicle Market Snapshot
Table 224 Europe: Low-Speed Vehicle Market, by Country, 2019-2023 (Units)
Table 225 Europe: Low-Speed Vehicle Market, by Country, 2024-2030 (Units)
Table 226 Europe: Low-Speed Vehicle Market, by Country, 2019-2023 (USD Million)
Table 227 Europe: Low-Speed Vehicle Market, by Country, 2024-2030 (USD Million)
15.4.2 Uk
15.4.2.1 Escalating Tourism Activities to Drive Market
Table 228 Uk: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 229 Uk: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 230 Uk: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 231 Uk: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.4.3 France
15.4.3.1 Rising Popularity of Golf to Drive Market
Table 232 France: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 233 France: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 234 France: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 235 France: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.4.4 Germany
15.4.4.1 Increasing Golf Activities to Drive Market
Table 236 Germany: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 237 Germany: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 238 Germany: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 239 Germany: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.4.5 Nordic
15.4.5.1 Focus on Green and Zero-Emission Mobility to Drive Market
Table 240 Nordic: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 241 Nordic: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 242 Nordic: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 243 Nordic: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.4.6 Italy
15.4.6.1 High Demand for Commercial Utility Vehicles at Hotels and Resorts to Drive Market
Table 244 Italy: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 245 Italy: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 246 Italy: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 247 Italy: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.4.7 Spain
15.4.7.1 Popularity of Golf Holidays to Drive Market
Table 248 Spain: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 249 Spain: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 250 Spain: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 251 Spain: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.5 Rest of the World
15.5.1 Recession Impact Analysis
Figure 49 Rest of the World: Low-Speed Vehicle Market, by Country, 2024-2030 (USD Million)
Table 252 Rest of the World: Low-Speed Vehicle Market, by Country, 2019-2023 (Units)
Table 253 Rest of the World: Low-Speed Vehicle Market, by Country, 2024-2030 (Units)
Table 254 Rest of the World: Low-Speed Vehicle Market, by Country, 2019-2023 (USD Million)
Table 255 Rest of the World: Low-Speed Vehicle Market, by Country, 2024-2030 (USD Million)
15.5.2 South Africa
15.5.2.1 Surge in Demand for Personal Mobility Vehicles to Drive Market
Table 256 South Africa: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 257 South Africa: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 258 South Africa: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 259 South Africa: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.5.3 Brazil
15.5.3.1 Presence of World-Class Golf Courses to Drive Market
Table 260 Brazil: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 261 Brazil: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 262 Brazil: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 263 Brazil: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
15.5.4 Iran
15.5.4.1 Significant Demand from Tourism Industry to Drive Market
Table 264 Iran: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (Units)
Table 265 Iran: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (Units)
Table 266 Iran: Low-Speed Vehicle Market, by Vehicle Type, 2019-2023 (USD Million)
Table 267 Iran: Low-Speed Vehicle Market, by Vehicle Type, 2024-2030 (USD Million)
16 Competitive Landscape
16.1 Overview
16.2 Key Player Strategies/Right to Win, 2020-2024
Table 268 Key Player Strategies/Right to Win, 2020-2024
16.3 Market Share Analysis, 2023
Figure 50 Market Share of Key Players, 2023
Table 269 Low-Speed Vehicle Market: Degree of Competition, 2023
16.4 Revenue Analysis, 2021-2023
Figure 51 Revenue Analysis of Top Five Players, 2021-2023
16.5 Company Evaluation Matrix: Low-Speed Vehicle Suppliers, 2024
16.5.1 Stars
16.5.2 Emerging Leaders
16.5.3 Pervasive Players
16.5.4 Participants
Figure 52 Company Evaluation Matrix (Low-Speed Vehicle Suppliers), 2024
16.5.5 Company Footprint: Low-Speed Vehicle Suppliers
Figure 53 Low-Speed Vehicle Suppliers: Company Footprint
Table 270 Low-Speed Vehicle Suppliers: Application Footprint
Table 271 Low-Speed Vehicle Suppliers: Propulsion Footprint
Table 272 Low-Speed Vehicle Suppliers: Region Footprint
16.6 Company Evaluation Matrix: Golf Cart Manufacturers, 2024
16.6.1 Stars
16.6.2 Emerging Leaders
16.6.3 Pervasive Players
16.6.4 Participants
Figure 54 Company Evaluation Matrix (Golf Cart Manufacturers), 2024
16.6.5 Company Footprint: Golf Cart Manufacturers
Figure 55 Golf Cart Manufacturers: Company Footprint
Table 273 Golf Cart Manufacturers: Propulsion Footprint
Table 274 Golf Cart Manufacturers: Application Footprint
Table 275 Golf Cart Manufacturers: Region Footprint
16.7 Company Valuation and Financial Metrics
Figure 56 Company Valuation, 2023
Figure 57 Financial Metrics, 2023
16.8 Brand/Product Comparison
Figure 58 Brand/Product Comparison
16.9 Competitive Scenario and Trends
16.9.1 Product Launches, 2020-2024
Table 276 Low-Speed Vehicle Market: Product Launches, 2020-2024
16.9.2 Deals, 2020-2024
Table 277 Low-Speed Vehicle Market: Deals, 2020-2024
16.9.3 Expansions, 2020-2024
Table 278 Low-Speed Vehicle Market: Expansions, 2020-2024
16.9.4 Others, 2020-2024
Table 279 Low-Speed Vehicle Market: Others, 2020-2024
17 Company Profiles
17.1 Key Players
(Business Overview, Products Offered, Recent Developments, Analyst's View, Key Strengths, Strategic Choices, and Weaknesses and Competitive Threats)*
17.1.1 Textron Inc.
Table 280 Textron Inc.: Company Overview
Figure 59 Textron Inc.: Company Snapshot
Table 281 Textron Inc.: Products Offered
Table 282 Textron Inc.: Product Launches
Table 283 Textron Inc.: Deals
Table 284 Textron Inc.: Others
17.1.2 Deere & Company
Table 285 Deere & Company: Company Overview
Figure 60 Deere & Company: Company Snapshot
Table 286 Deere & Company: Products Offered
Table 287 Deere & Company: Product Launches
Table 288 Deere & Company: Deals
Table 289 Deere & Company: Others
17.1.3 Yamaha Motor Co. Ltd.
Table 290 Yamaha Motor Co. Ltd.: Company Overview
Figure 61 Yamaha Motor Co. Ltd.: Company Snapshot
Table 291 Yamaha Motor Co. Ltd.: Products Offered
Table 292 Yamaha Motor Co. Ltd.: Product Launches
Table 293 Yamaha Motor Co. Ltd.: Deals
Table 294 Yamaha Motor Co. Ltd.: Expansions
Table 295 Yamaha Motor Co. Ltd.: Others
17.1.4 The Toro Company
Table 296 The Toro Company: Company Overview
Figure 62 The Toro Company: Company Snapshot
Table 297 The Toro Company: Products Offered
Table 298 The Toro Company: Product Launches
Table 299 The Toro Company: Deals
Table 300 The Toro Company: Expansions
17.1.5 Kubota Corporation
Table 301 Kubota Corporation: Company Overview
Figure 63 Kubota Corporation: Company Snapshot
Table 302 Kubota Corporation: Products Offered
Table 303 Kubota Corporation: Product Launches
Table 304 Kubota Corporation: Deals
Table 305 Kubota Corporation: Expansions
17.1.6 Club Car
Table 306 Club Car: Company Overview
Table 307 Club Car: Products Offered
Table 308 Club Car: Product Launches
Table 309 Club Car: Deals
Table 310 Club Car: Expansions
Table 311 Club Car: Others
17.1.7 American Landmaster
Table 312 American Landmaster: Company Overview
Table 313 American Landmaster: Products Offered
Table 314 American Landmaster: Product Launches
Table 315 American Landmaster: Deals
17.1.8 Columbia Vehicle Group Inc.
Table 316 Columbia Vehicle Group Inc.: Company Overview
Table 317 Columbia Vehicle Group Inc.: Products Offered
Table 318 Columbia Vehicle Group Inc.: Product Launches
Table 319 Columbia Vehicle Group Inc.: Deals
17.1.9 Waev Inc.
Table 320 Waev Inc.: Company Overview
Table 321 Waev Inc.: Products Offered
Table 322 Waev Inc.: Product Launches
Table 323 Waev Inc.: Deals
Table 324 Waev Inc.: Others
17.1.10 Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
Table 325 Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.: Company Overview
Table 326 Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.: Products Offered
17.2 Other Players
17.2.1 Agt Electric Cars
Table 327 Agt Electric Cars: Company Overview
17.2.2 Bintelli Electric Vehicles
Table 328 Bintelli Electric Vehicle: Company Overview
17.2.3 Marshell Green Power
Table 329 Marshell Green Power: Company Overview
17.2.4 Icon Electric Vehicles
Table 330 Icon Electric Vehicles: Company Overview
17.2.5 Star EV Corporation, Usa
Table 331 Star EV Corporation, Usa: Company Overview
17.2.6 Hdk Electric Vehicle
Table 332 Hdk Electric Vehicle: Company Overview
17.2.7 Tropos Motors, Inc.
Table 333 Tropos Motors, Inc.: Company Overview
17.2.8 Pilotcar
Table 334 Pilotcar: Company Overview
17.2.9 Moto Electric Vehicles
Table 335 Moto Electric Vehicles: Company Overview
17.2.10 Acg Inc.
Table 336 Acg Inc.: Company Overview
17.2.11 Citecar Electric Vehicles
Table 337 Citecar Electric Vehicles: Company Overview
17.2.12 Cruise Car Inc.
Table 338 Cruise Car Inc.: Company Overview
17.2.13 Ligier Group
Table 339 Ligier Group: Company Overview
17.2.14 Kawasaki Motor Corporation US
Table 340 Kawasaki Motor Corporation US: Company Overview
17.2.15 Speedways Electric
Table 341 Speedways Electric: Company Overview
17.2.16 Dinis
Table 342 Dinis: Company Overview
17.2.17 Autopower
Table 343 Autopower: Company Overview
*Details on Business Overview, Products Offered, Recent Developments, Analyst's View, Key Strengths, Strategic Choices, and Weaknesses and Competitive Threats Might Not be Captured in Case of Unlisted Companies
18 Analyst's Recommendations
18.1 North America to Dominate Low-Speed Vehicle Market
18.2 Safety Features and Electrification to be Key Focus Areas
18.3 Conclusion
19 Appendix
19.1 Insights from Industry Experts
19.2 Discussion Guide
19.3 Knowledgestore: The Subscription Portal
19.4 Customization Options
19.4.1 Low-Speed Vehicle Market, by Propulsion, at Country Level
19.4.1.1 Gasoline
19.4.1.2 Diesel
19.4.1.3 Electric
19.4.2 Low-Speed Vehicle Market, by Power Output, at Country Level
19.4.2.1 =5 kW
19.4.2.2 6-15 kW
19.4.2.3 >15 kW
19.4.3 Low-Speed Vehicle Market, by Seating Capacity
19.4.3.1 Small (2-4 Seater)
19.4.3.2 Medium (6-8 Seater)
19.4.3.3 Large (Above 8 Seater)

Companies Mentioned

  • Textron Inc.
  • Deere & Company
  • Yamaha Motor Co. Ltd.
  • The Toro Company
  • Kubota Corporation
  • Club Car
  • American Landmaster
  • Columbia Vehicle Group Inc.
  • Waev Inc.
  • Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
  • AGT Electric Cars
  • Bintelli Electric Vehicles
  • Marshell Green Power
  • ICON Electric Vehicles
  • Star EV Corporation, USA
  • HDK Electric Vehicle
  • Tropos Motors, Inc.
  • Pilotcar
  • Moto Electric Vehicles
  • ACG Inc.
  • CitEcar Electric Vehicles
  • Cruise Car Inc.
  • Ligier Group
  • Kawasaki Motor Corporation USA
  • Speedways Electric
  • Dinis
  • AutoPower

Methodology

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Table Information

Report AttributeDetails
No. of Pages279
PublishedJune 2024
Forecast Period2024 - 2030
Estimated Market Value ( USD ) in 2024 $ 11.1 Billion
Forecasted Market Value ( USD ) by 2030 $ 16.3 Billion
Compound Annual Growth Rate6.6%
Regions CoveredGlobal
No. of Companies Mentioned27

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About the Market

The Low Speed Electric Vehicle (LSEV) market is a segment of the commercial vehicle industry that focuses on the production of electric vehicles with a maximum speed of 25 mph. These vehicles are typically used for short-distance transportation, such as in urban areas, and are often used for last-mile delivery services. LSEV vehicles are typically smaller than traditional commercial vehicles, and are powered by electric motors, batteries, and other components. The LSEV market has seen a steady growth in recent years, driven by increasing demand for sustainable transportation solutions and the need for efficient last-mile delivery services. The market is also driven by government incentives and regulations that promote the adoption of electric vehicles. Notable companies in the LSEV market include BYD, Geely, Kandi Technologies, and Zotye Auto. Show Less Read more

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