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Low Speed Vehicle - Global Market Trajectory & Analytics

  • ID: 5140702
  • Report
  • September 2020
  • Region: Global
  • 286 pages
  • Global Industry Analysts, Inc
Global Low Speed Vehicle Market to Reach US$12.5 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Low Speed Vehicle estimated at US$9.1 Billion in the year 2020, is projected to reach a revised size of US$12.5 Billion by 2027, growing at a CAGR of 4.7% over the analysis period 2020-2027.< 8 kW, one of the segments analyzed in the report, is projected to grow at a 4.4% CAGR to reach US$3.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the 8 kW-15 kW segment is readjusted to a revised 4.6% CAGR for the next 7-year period. This segment currently accounts for a 44% share of the global Low Speed Vehicle market.

The U. S. Accounts for Over 28.8% of Global Market Size in 2020, While China is Forecast to Grow at a 7.7% CAGR for the Period of 2020-2027

The Low Speed Vehicle market in the U. S. is estimated at US$2.6 Billion in the year 2020. The country currently accounts for a 28.81% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.3 Billion in the year 2027 trailing a CAGR of 7.7% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach US$2.3 Billion by the year 2027.

>15 kW Segment Corners a 25.1% Share in 2020

In the global >15 kW segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.7 Billion in the year 2020 will reach a projected size of US$2.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.7 Billion by the year 2027, while Latin America will expand at a 5.6% CAGR through the analysis period. We bring years of research experience to this 6th edition of our report. The 286-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:
  • American LandMaster
  • Club Car LLC
  • Deere & Company
  • Intimidator Inc.
  • Kawasaki Motors Manufacturing Corp., U. S. A.
  • Kubota Agricultural Machinery India Pvt. Ltd.
  • Ontario Drive & Gear Ltd.
  • Polaris Industries, Inc.
  • Textron Inc.
  • Yamaha Motor Co., Ltd.
Note: Product cover images may vary from those shown
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • Global Competitor Market Shares
  • Low Speed Vehicle Competitor Market Share Scenario Worldwide (in %): 2018E
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • Market Facts & Figures
  • US Low Speed Vehicle Market Share (in %) by Company: 2018 & 2027
  • Market Analytics
CANADA

JAPAN

CHINA

EUROPE
  • Market Facts & Figures
  • European Low Speed Vehicle Market: Competitor Market Share Scenario (in %) for 2018 & 2027
  • Market Analytics
FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 36
Note: Product cover images may vary from those shown
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