Low Speed Vehicle

4.2% Global CAGR for Low Speed Vehicle Market Market to achieve US$ 16.46 Bn by 2027

Deere & Company, Yamaha Golf-Car Company, Textron Specialized Vehicles Inc., Polaris Inc., and Club Car, LLC – PROMINENT MARKET PARTICIPANTS IN LOW SPEED VEHICLE MARKET

Low speed vehicles are the small four-wheeled vehicles, specifically designed for particular federal vehicle standards by the licensed manufacturers. These vehicles operates in the public streets within the speed limit of 25 miles per hour. In order to comply with the emission regulations, demand for low speed vehicles is increasing. Moreover, demand among aging population and golf courses is increasing for these vehicles which is also responsible to drive low speed vehicles market. Additionally, the growing public interest in low speed vehicles to make short trips for social, shopping, and recreational purposes mainly within retirement or other planned, self-contained communities are boosting demand for low speed vehicles in the current scenario.

Deere & Company, Yamaha Golf-Car Company, Textron Specialized Vehicles Inc., Polaris Inc., and Club Car, LLC are some of the key market players operating in the global low speed vehicle market. The listing of key players is derived by considering multiple factors such as overall revenue, current low speed vehicle product portfolio, geographical reach, new product launches, market initiatives, investment in technology upgradation, mergers & acquisitions and other market related activities. There are various other notable players in the global low speed vehicle market ecosystem such as Bintelli Electric Vehicles, Cruise Car, Inc., HDK Co., Ltd., Moto Electric Vehicles, and The Toro Company which are profiled in this report. In March 2019, Yamaha Golf-Car Company realigned its California territory with the addition of Cart Star Motors to grow sales and enhance service capabilities to golf courses in the area. Turf Star, Inc., dba Cart Star Motors, would provide golf course sales and service out of five locations in California, Southern Oregon, and Western Nevada, while Yamaha’s current dealer network will remain unaffected.

Most of the market initiatives were observed in North American region, which have a high potential of low speed vehicle market-related products and services. Few of the important market initiatives and product developments from the industry are mentioned below:

Year

News

Country

2020

Toro introduced two new additions to its lineup of Workman GTX Utility Vehicles: Workman GTX Lithium-Ion Lifted and Workman GTX EFI Lifted. These models provide an additional three inches of ground clearance compared to traditional Workman GTX machines.

North America

2019

Polaris Inc. announced the opening of its first multi-brand distribution center in Fernley, Nevada. The facility would support Polaris’ growing Aftermarket, Parts, Garments, & Accessories businesses by providing additional capacity, improving delivery speed and customer service, and optimizing operations

North America

2019

Club Car implemented a new fleet of electric utility vehicles at Atlantis, The Palm for escorting guests, delivering goods and resources across its five-star facilities, and serving as medical service vehicles and mobile kiosks.

MEA

2019

The European Tour and Club Car extended their long-standing relationship, agreeing on a new four-year deal. Club Car has been a European Tour Official Supplier since 1999. In the 2019 season, more than 100 Club Car vehicles would be used at European Tour events worldwide.

Europe

 

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