According to Goldstein Research, global electric low speed vehicle market is expected to reach USD 7.4 billion by 2024from USD 2.3 billion in 2015, growing at a CAGR of 6.0% over the forecast period 2016-2024. Aroused need to curb air pollution and growing demand for fuel efficient vehicles are the major factors driving the growth of electric low speed vehicles market. Electric low speed vehicle market segmentation has been carried out on the basis of vehicle type and distribution channel. Golf carts, based on vehicle type, accounted for largest market share with more than 43% in 2015 on the back of rising golf courses and number of airports.
Global electric low speed vehicle market is dominated by North America by 28.0% of total global revenue share in 2015. Asia Pacific witnessed strong growth in past few years with China dominating the region in 2015 in terms for electric LSVs production.
On the basis of our in-depth analysis, Global Electric Low Speed Vehicle Market can be segmented as follows:
• By Vehicle Type
o Neighborhood electric vehicles (NEV)
o Electric golf carts
o Electric personal utility vehicles
o Off-road electric vehicles
o Commercial electric vehicles
• By End Users
o Golf courses
o Hotels and resorts
o Residential premises
o Other (Tourist spots etc)
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“Global Electric Low-Speed Vehicle Market Outlook 2024”contains detailed overview of the global electric low speed vehicle market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by vehicle type and by distribution channel.
Further, for the in-depth analysis, Global Electric Low Speed Vehicle Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Textron Global Electric Motors (GEM), Reva, Zenn Motors, Hitachi Chemicals, Ingersoll Rand, Yamaha motors, Polaris, Star EV, Dongfeng Electric Vehicles Co. Ltd., Bradshaw Electric Vehicles, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents the global electric low speed vehicle market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Browse full Report @ https://www.goldsteinresearch.com/report/global-electric-low-speed-vehicles-lsv-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024
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