North America Low Speed Vehicle Market Overview and Growth by 2027
North America 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);
- Status : Published
- Report Code : TIPRE00009841
- Category : Automotive and Transportation
- No. of Pages : 150
- Available Report Formats :
- Last update date : March 29, 2020
2019 Market Size
US$ 3,209.2 Mn
Base year value
2027 Forecast
US$ 4,199.6 Mn
Projected by 2027
CAGR 2020-2027
3.5 %
Growth rate
Addressable Market
US$ 30,065.38 Mn
(2020-2027)
The low speed vehicle market in North America was valued at US$ 3,209.2 million in 2019 and is projected to reach US$ 4,199.6 million by 2027; it is expected to grow at a CAGR of 3.5% from 2020 to 2027.
North America constitutes developed economies, including the US and Canada, along with several developing countries such as Mexico. North America region is characterized as a fast adopter of several technological developments, which complements the growth of technologically advanced products and services in this region. The companies in this region are continuously enhancing the overall business processes to meet the customer demand for high-quality products and services in the best possible way. North America has a strong presence of a well-developed automotive market and therefore is considered to be one of the most prominent commercial vehicles producing nations in the world.
A low speed vehicle is a 4-wheel motor vehicle that can move at speed from 20 to 25 mph. Golf carts, neighborhood electric vehicles, utility vehicles, pickup vans, and personal carriers are among the low speed vehicles deployed in the region. The rising elderly population is projected to create more demand for mobility solutions that are beyond automobiles. In this respect, the low speed vehicles and street-legal golf carts are ideal as these are cost-effective, convenient, and a clean local transportation substitute for this population. The mentioned vehicles are also appropriate for commuters, students, and government fleet operators. The US projects to lower vehicle miles traveled and greenhouse gas emissions. The abovementioned factors have been playing a significant role in creating an immediate market for zero-emission vehicles, particularly in the US. The use of low speed vehicles for short trips would play a vital role in decreasing greenhouse gas emission levels in the Americas. All these factors are anticipated to boost the demand of low speed vehicle market in the North America region in the coming years.
North America: 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.
North America Low Speed Vehicle Market–Segmentation
North America Low Speed Vehicle Market – By Type
- Commercial Turf Utility Vehicles
- Golf Carts
- Industrial Utility Vehicles
- Personnel Carriers
North America Low Speed Vehicle Market – By Propulsion
- Diesel
- Electric
- Less than 5 HP
- 5 to 10 HP
- More than 8 HP
- Gasoline
North America Low Speed Vehicle Market – By Country
- The US
- Canada
- Mexico
North America Low Speed Vehicle Market-Companies Mentioned
- Bintelli Electric Vehicle
- Club Car, LLC
- Cruise Car, Inc.,
- Deere & Company
- HDK Co., Ltd.
- Moto Electric Vehicles
- Polaris Inc.
- Textron Specialized Vehicles Inc.
- The Toro Company
- Yamaha Golf-Car Company
North America Low Speed Vehicle Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 3,209.2 Million |
| Market Size by 2027 | US$ 4,199.6 Million |
| CAGR (2020 - 2027) | 3.5% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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