Asia Pacific Low Speed Vehicle Market Size, Share, and Analysis by 2027

Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027

Asia Pacific Low Speed Vehicle Market to 2027 - Regional Analysis and Forecasts by Type (Commercial Turf Utility Vehicles, Golf Carts, Industrial Utility Vehicles, and Personnel Carriers); Propulsion (Diesel, Electric, and Gasoline);

Report Date : Mar 2020
Report Code : TIPRE00009820

Category : Automotive and Transportation
Status : Published

Available Report Formats :
No. of Pages : 160

Page Updated: Mar 2020

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The low speed vehicle market in Asia Pacific was valued at US$ 4,306.7 million in 2019 and is projected to reach US$ 6,422.3 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027.

APAC comprises several major economies such as China, India, Japan, South Korea, and Australia. APAC is the largest continent in the world and is well-known for its technological innovations. Rapid developments pertaining to technologies, initiatives from governments, digitalization of economies, and rising disposable income of the middle-income class group are among the factors propelling the growth of the overall economy of the region from a developing to developed phase. Owing to the rising smart mobility service adoption, rapid urbanization, and increasing fuel prices as well as government incentives to encourage sales of electric vehicles and high awareness regarding nonconventional fuel-driven vehicles in Asia are among the factors impacting the low speed vehicle market growth in this region. Also, rapid urbanization and industrialization are fueling the growth of infrastructures in this region. Moreover, the automotive sector is a major contributor to the growth of Asian economies, along with providing a wide range of opportunities to autonomous, electric, and low speed vehicle producers. The rising inclination toward safe, green, economical, and sustainable transportation is one of the major factors boosting the usage of low speed vehicles in the region.

The market for Asia Pacific low speed vehicle is segmented into type, propulsion, and country. Based on type, the market is segmented into commercial turf utility vehicles, golf carts, industrial utility vehicles, and personnel carriers. Based on propulsion, the low speed vehicle market is segmented into electric, diesel, and gasoline. The electric-powered vehicles are anticipated to grow at the highest CAGR from 2020 to 2027. By country, the market is segmented into the Australia, China, India, Japan, South Korea, and Rest of APAC.

Rest of APAC Low Speed Vehicle Market, Revenue and Forecast to 2027 (US$ Million)

This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Asia-Pacific Low Speed Vehicle Market–Segmentation

Asia Pacific Low Speed Vehicle Market – By Type

Commercial Turf Utility Vehicles
Golf Carts
Industrial Utility Vehicles
Personnel Carriers

Asia Pacific Low Speed Vehicle Market – By Propulsion

Diesel
Electric
- Less than 5 HP
- 5 to 8 HP
- More than 8 HP
Gasoline

Asia Pacific Low Speed Vehicle Market – By Country

Australia
China
India
Japan
South Korea
Rest of APAC

Asia-Pacific Low Speed Vehicle Market-Companies Mentioned

Club Car, LLC
Cruise Car, Inc.,
Deere & Company
Garia Utility
Melex Ltd.
Moto Electric Vehicles
Polaris Inc.
Textron Specialized Vehicles Inc.
The Toro Company
Yamaha Golf-Car Company

Asia Pacific Low Speed Vehicle Report Scope

Report Attribute	Details
Market size in 2019	US$ 4,306.7 Million
Market Size by 2027	US$ 6,422.3 Million
CAGR (2020 - 2027)	5.2%
Historical Data	2017-2018
Forecast period	2020-2027
Segments Covered	By Type Commercial Turf Utility Vehicles Golf Carts Industrial Utility Vehicles Personnel Carriers By Propulsion Diesel Electric Gasoline
Regions and Countries Covered	Asia-Pacific China India Japan Australia Rest of Asia-Pacific
Market leaders and key company profiles	Club Car, LLC Cruise Car, Inc., Deere & Company Garia Utility Melex Ltd. Moto Electric Vehicles Polaris Inc. Textron Specialized Vehicles Inc. The Toro Company

Research Manager

Naveen Chittaragi

Associate Vice President,
Market Research & Consulting

Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

What are the Asia Pacific Low Speed Vehicle Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Regional, Country
Industry and Competitive Landscape
Excel Dataset

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