The low speed vehicle market was valued at US$ 11.98 Billion in 2019 and is expected to grow at a CAGR of 4.2% from 2020 to 2027 to reach US$ 16.46 Billion by 2027.
The low speed vehicle market has witnessed eminent growth in the last couple of years globally. The positive economic outlook, rising disposable incomes, and growing population are among the factors that are driving the demand for infrastructure projects. Also, pertaining to high volume of online orders, the e-commerce industry is growing which would result into more ownership of warehouse in the region. Low speed vehicles within the warehouse supports in shifting the boxes form one place to another. Above-mentioned factors plays a major role in accelerating the low speed vehicle market growth. The APAC held the largest market share in 2019 and is anticipated to be the fastest growing region in the low speed vehicle market. North America and Europe are the second and third largest region in the low speed market.
Coronavirus outbreak began in Wuhan (China) during December 2019. It has been spreading at a fast pace across the world and some of the worst affected countries include China, Italy, Iran, Spain, republic of Korea, France, Germany, and the US. The outbreak of COVID-19 and its resulting effects such as border lockdowns, shutdowns, travel bans have started to impact businesses across various industries. The low speed vehicle market is anticipated to have a medium impact owing to the disruptions in the global supply chains. The companies operating in this market will see a drop in overall sales in the short term (3-6 months), however, the market will see a steady growth in the coming years.
Lucrative Regional Low Speed Vehicle Market
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Market Insights
Rising government initiatives to encourage sustainable transportation
European Union, China, Japan, Canada, India, and South Korea are some of the major geographies where governments are proactively taking steps to increase the adoption of electric vehicles. For instance, in the European Union, significant improvements were made in fuel economy standards for existing vehicle. A ‘Clean Vehicles Directive’ was formulated for the procurement of electric buses by government sector. Another directive called ‘Energy Performance Buildings Directive’ is also formed which sets minimum standards for setting up charging infrastructure in buildings.
Propulsion Insights
The low speed vehicle market, by propulsion, is segmented into diesel, electric, and gasoline. The fuel-powered segment captured a dominating share in the global low speed vehicle market. There has been growing trend of high power vehicles that are capable to move on the permissible roads and can be utilized as utility vehicles and personnel carriers. Hence, during the forecast period, electric low speed vehicles are projected to have significant growth, along with high-power low speed vehicles which in turn is expected to eventually drive the low speed vehicle market.
Global Low Speed Vehicle Market, by Type – 2019 & 2027
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Type Insights
The low speed vehicle market, by type, is segmented into commercial turf utility vehicles, golf carts, industrial utility vehicles, and personnel carriers. The golf carts segment captured a dominating share in the global low speed vehicle market. Several communities in the United States depend heavily on low-speed electric vehicles to get around. For older people walking can sometimes be difficult while driving a car can be burdensome and even unsafe.
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Low Speed Vehicle Market: Strategic Insights
Market Size Value in US$ 11.98 Billion in 2019 Market Size Value by US$ 16.46 Billion by 2027 Growth rate CAGR of 4.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Low Speed Vehicle Market: Strategic Insights
| Market Size Value in | US$ 11.98 Billion in 2019 |
| Market Size Value by | US$ 16.46 Billion by 2027 |
| Growth rate | CAGR of 4.2% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Market initiative and new development strategies are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. These strategies are mostly observed in North America and Europe. The players present in the low speed vehicle market adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally.
Low speed vehicle Market – By Type
- Commercial Turf Utility Vehicles
- Golf Carts
- Industrial Utility Vehicles
- Personnel Carriers
Low speed vehicle Market – By Propulsion
- Diesel
- Electric
- Gasoline
Low speed vehicle Market – By Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific
- China
- India
- Australia
- South Korea
- Japan
- Rest of Asia Pacific
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
South America
- Brazil
- Argentina
- Rest of South America
Company Profiles
- 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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Propulsion and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The rising smart mobility service adoption, rapid urbanization, and increasing construction industry as well as government incentives to encourage sales of electric vehicles and high awareness regarding nonconventional fuel-driven vehicles in Asia are among the major factors boosting the low speed vehicle market growth in this region.
Over the past few years, electric mobility has been growing at an unprecedented rate across major economies. Due to increasing concerns regarding environmental protection and favorable government policies, the sales figures of electric vehicles has seen an impressive surge in the past decade. Better fuel economy standards and zero & low emission vehicle incentives are some of the measures which are taken to lower the carbon emission level in the environment. This factor is anticipated to provide growth opportunities for the low speed vehicle market during the forecast period of 2020 to 2027.
In 2019, the golf carts segment led the low speed vehicle market by type and it is anticipated to continue its dominance during the forecast period of 2020 to 2027. The golf carts are available in different types, such as gas and electric golf carts. Several communities in countries like United States depend heavily on low-speed electric vehicles to get around.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Low Speed Vehicle Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Low Speed Vehicle Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing government initiatives to promote sustainable transportation
5.1.2 Rising global construction & infrastructure industry
5.2 Market Restraints
5.2.1 High ownership and maintenance costs
5.3 Market Opportunities
5.3.1 Growing demand for electric vehicles
5.4 Future Trends
5.4.1 Rising technology integration and advanced features
5.5 Impact Analysis of Drivers And Restraints
6. Low Speed Vehicle – Global Market Analysis
6.1 Low Speed Vehicle Market Overview
6.2 Low Speed Vehicle Market –Revenue and Forecast to 2027 (US$ Billion)
6.3 Market Positioning – Five Key Players
7. Low Speed Vehicle Market Analysis – By Type
7.1 Overview
7.2 Low Speed Vehicle Market, By Type (2019 and 2027)
7.3 Commercial Turf Utility Vehicles
7.3.1 Overview
7.3.2 Commercial Turf Utility Vehicles: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Golf Carts
7.4.1 Overview
7.4.2 Golf Carts: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Industrial Utility Vehicles
7.5.1 Overview
7.5.2 Industrial Utility Vehicles: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Personnel Carriers
7.6.1 Overview
7.6.2 Personnel Carriers: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8. Low Speed Vehicle Market – By Propulsion
8.1 Overview
8.2 Low Speed Vehicle Market, by Propulsion (2019 and 2027)
8.3 Diesel
8.3.1 Overview
8.3.2 Diesel: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Electric
8.4.1 Overview
8.4.2 Electric: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8.4.3 Less than 5 HP Market Forecast and Analysis
8.4.3.1 Less than 5 HP: Revenue and Forecast to 2027 (US$ Million)
8.4.4 5 – 8 HP Market Forecast and Analysis
8.4.4.1 5 – 8 HP: Revenue and Forecast to 2027 (US$ Million)
8.4.5 More than 8 HP Market Forecast and Analysis
8.4.5.1 More than 8 HP: Revenue and Forecast to 2027 (US$ Million)
8.5 Gasoline
8.5.1 Overview
8.5.2 Gasoline: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9. Low Speed Vehicle Market – Geographic Analysis
9.1 Overview
9.2 North America: Low Speed Vehicle Market
9.2.1 North America: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.2.2 North America: Low Speed Vehicle Market, by Type
9.2.3 North America: Low Speed Vehicle Market, by Propulsion
9.2.4 North America: Low Speed Vehicle Market, by Key Country
9.2.4.1 US: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.1.1 US: Low Speed Vehicle Market, by Type
9.2.4.1.2 US: Low Speed Vehicle Market, by Propulsion
9.2.4.1.3 US: Electric Low Speed Vehicle Market, by Power
9.2.4.2 Canada: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.2.1 Canada: Low Speed Vehicle Market, by Type
9.2.4.2.2 Canada: Low Speed Vehicle Market, by Propulsion
9.2.4.2.3 Canada: Electric Low Speed Vehicle Market, by Power
9.2.4.3 Mexico: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.3.1 Mexico: Low Speed Vehicle Market, by Type
9.2.4.3.2 Mexico: Low Speed Vehicle Market, by Propulsion
9.2.4.3.3 Mexico: Electric Low Speed Vehicle Market, by Power
9.3 Europe: Low Speed Vehicle Market
9.3.1 Europe: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.3.2 Europe: Low Speed Vehicle Market, by Type
9.3.3 Europe: Low Speed Vehicle Market, by Propulsion
9.3.4 Europe: Low Speed Vehicle Market, by Key Country
9.3.4.1 Germany: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.1.1 Germany: Low Speed Vehicle Market, by Type
9.3.4.1.2 Germany: Low Speed Vehicle Market, by Propulsion
9.3.4.1.3 Germany: Electric Low Speed Vehicle Market, by Power
9.3.4.2 France: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.2.1 France: Low Speed Vehicle Market, by Type
9.3.4.2.2 France: Low Speed Vehicle Market, by Propulsion
9.3.4.2.3 France: Electric Low Speed Vehicle Market, by Power
9.3.4.3 Italy: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.3.1 Italy: Low Speed Vehicle Market, by Type
9.3.4.3.2 Italy: Low Speed Vehicle Market, by Propulsion
9.3.4.3.3 Italy: Electric Low Speed Vehicle Market, by Power
9.3.4.4 UK: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.4.1 UK: Low Speed Vehicle Market, by Type
9.3.4.4.2 UK: Low Speed Vehicle Market, by Propulsion
9.3.4.4.3 UK: Electric Low Speed Vehicle Market, by Power
9.3.4.5 Russia: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.5.1 Russia: Low Speed Vehicle Market, by Type
9.3.4.5.2 Russia: Low Speed Vehicle Market, by Propulsion
9.3.4.5.3 Russia: Electric Low Speed Vehicle Market, by Power
9.3.4.6 Rest of Europe: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.6.1 Rest of Europe: Low Speed Vehicle Market, by Type
9.3.4.6.2 Rest of Europe: Low Speed Vehicle Market, by Propulsion
9.3.4.6.3 Rest of Europe: Electric Low Speed Vehicle Market, by Power
9.4 APAC: Low Speed Vehicle Market
9.4.1 APAC: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.4.2 APAC: Low Speed Vehicle Market, by Type
9.4.3 APAC: Low Speed Vehicle Market, by Propulsion
9.4.4 APAC: Low Speed Vehicle Market, by Key Country
9.4.4.1 Australia: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.1.1 Australia: Low Speed Vehicle Market, by Type
9.4.4.1.2 Australia: Low Speed Vehicle Market, by Propulsion
9.4.4.1.3 Australia: Electric Low Speed Vehicle Market, by Power
9.4.4.2 China: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.2.1 China: Low Speed Vehicle Market, by Type
9.4.4.2.2 China: Low Speed Vehicle Market, by Propulsion
9.4.4.2.3 China: Electric Low Speed Vehicle Market, by Power
9.4.4.3 India: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.3.1 India: Low Speed Vehicle Market, by Type
9.4.4.3.2 India: Low Speed Vehicle Market, by Propulsion
9.4.4.3.3 India: Electric Low Speed Vehicle Market, by Power
9.4.4.4 Japan: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.4.1 Japan: Low Speed Vehicle Market, by Type
9.4.4.4.2 Japan: Low Speed Vehicle Market, by Propulsion
9.4.4.4.3 Japan: Electric Low Speed Vehicle Market, by Power
9.4.4.5 South Korea: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.5.1 South Korea: Low Speed Vehicle Market, by Type
9.4.4.5.2 South Korea: Low Speed Vehicle Market, by Propulsion
9.4.4.5.3 South Korea: Electric Low Speed Vehicle Market, by Power
9.4.4.6 Rest of APAC: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.6.1 Rest of APAC: Low Speed Vehicle Market, by Type
9.4.4.6.2 Rest of APAC: Low Speed Vehicle Market, by Propulsion
9.4.4.6.3 Rest of APAC: Electric Low Speed Vehicle Market, by Power
9.5 MEA: Low Speed Vehicle Market
9.5.1 MEA: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.5.2 MEA: Low Speed Vehicle Market, by Type
9.5.3 MEA: Low Speed Vehicle Market, by Propulsion
9.5.4 MEA: Low Speed Vehicle Market, by Key Country
9.5.4.1 South Africa: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.1.1 South Africa: Low Speed Vehicle Market, by Type
9.5.4.1.2 South Africa: Low Speed Vehicle Market, by Propulsion
9.5.4.1.3 South Africa: Electric Low Speed Vehicle Market, by Power
9.5.4.2 Saudi Arabia: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.2.1 Saudi Arabia: Low Speed Vehicle Market, by Type
9.5.4.2.2 Saudi Arabia: Low Speed Vehicle Market, by Propulsion
9.5.4.2.3 Saudi Arabia: Electric Low Speed Vehicle Market, by Power
9.5.4.3 UAE: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.3.1 UAE: Low Speed Vehicle Market, by Type
9.5.4.3.2 UAE: Low Speed Vehicle Market, by Propulsion
9.5.4.3.3 UAE: Electric Low Speed Vehicle Market, by Power
9.5.4.4 Rest of MEA: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.4.1 Rest of MEA: Low Speed Vehicle Market, by Type
9.5.4.4.2 Rest of MEA: Low Speed Vehicle Market, by Propulsion
9.5.4.4.3 Rest of MEA: Electric Low Speed Vehicle Market, by Power
9.6 SAM: Low Speed Vehicle Market
9.6.1 SAM: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.6.2 SAM: Low Speed Vehicle Market, by Type
9.6.3 SAM: Low Speed Vehicle Market, by Propulsion
9.6.4 SAM: Low Speed Vehicle Market, by Key Country
9.6.4.1 Brazil: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.1.1 Brazil: Low Speed Vehicle Market, by Type
9.6.4.1.2 Brazil: Low Speed Vehicle Market, by Propulsion
9.6.4.1.3 Brazil: Electric Low Speed Vehicle Market, by Power
9.6.4.2 Argentina: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.2.1 Argentina: Low Speed Vehicle Market, by Type
9.6.4.2.2 Argentina: Low Speed Vehicle Market, by Propulsion
9.6.4.2.3 Argentina: Electric Low Speed Vehicle Market, by Power
9.6.4.3 Rest of SAM: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.3.1 Rest of SAM: Low Speed Vehicle Market, by Type
9.6.4.3.2 Rest of SAM: Low Speed Vehicle Market, by Propulsion
9.6.4.3.3 Rest of SAM: Electric Low Speed Vehicle Market, by Power
10. Low Speed Vehicle Market - Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 Bintelli Electric Vehicles
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Club Car, LLC
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Cruise Car, Inc.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Deere & Company
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 HDK Co., Ltd.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Moto Electric Vehicles
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Polaris Inc.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Textron Specialized Vehicles Inc.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 The Toro Company
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Yamaha Golf-Car Company
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Low Speed Vehicle Market –Revenue and Forecast to 2027 (US$ Billion)
Table 2. North America: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. North America: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 4. North America: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 5. US: Low Speed Vehicle Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 6. US: Low Speed Vehicle Market, by Propulsion –Revenue and Forecast to 2027 (US$ Million)
Table 7. US: Electric Low Speed Vehicle Market, by Power –Revenue and Forecast to 2027 (US$ Million)
Table 8. Canada: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. Canada: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 10. Canada: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 11. Mexico: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 12. Mexico: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 13. Mexico: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 14. Europe: Low Speed Vehicle Market, by Type– Revenue and Forecast to 2027 (US$ Million)
Table 15. Europe: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 16. Europe: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 17. Germany: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 18. Germany: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 19. Germany: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 20. France: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 21. France: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 22. France: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 23. Italy: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 24. Italy: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 25. Italy: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 26. UK: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 27. UK: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 28. UK: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 29. Russia: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 30. Russia: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 31. Russia: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 32. Rest of Europe: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 33. Rest of Europe: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 34. Rest of Europe: Electric Low Speed Vehicle Market, by Power - Revenue and Forecast to 2027 (US$ Million)
Table 35. APAC: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 36. APAC: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 37. APAC: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 38. Australia: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 39. Australia: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 40. Australia: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 41. China: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 42. China: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 43. China: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 44. India: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 45. India: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 46. India: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 47. Japan: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 48. Japan: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 49. Japan: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 50. South Korea: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 51. South Korea: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 52. South Korea: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 53. Rest of APAC: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 54. Rest of APAC: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 55. Rest of APAC: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 56. MEA: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 57. MEA: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 58. MEA: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 59. South Africa: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 60. South Africa: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 61. South Africa: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 62. Saudi Arabia: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 63. Saudi Arabia: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 64. Saudi Arabia: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 65. UAE: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 66. UAE: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 67. UAE: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 68. Rest of MEA: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 69. Rest of MEA: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 70. Rest of MEA: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 71. SAM: Low Speed Vehicle Market, by Type– Revenue and Forecast to 2027 (US$ Million)
Table 72. SAM: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 73. SAM: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 74. Brazil: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 75. Brazil: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 76. Brazil: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 77. Argentina: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 78. Argentina: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 79. Argentina: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 80. Rest of SAM: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 81. Rest of SAM: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 82. Rest of SAM: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 83. List of Abbreviation
LIST OF FIGURES
Figure 1. Low Speed Vehicle Market Segmentation
Figure 2. Low Speed Vehicle Market Segmentation – By Geography
Figure 3. Global Low Speed Vehicle Market Overview
Figure 4. Electric Propulsion to Show Remarkable Traction During Forecast Period
Figure 5. Golf Carts Segment to Show Remarkable Growth During Forecast Period
Figure 6. APAC Held Largest Share of Global Low Speed Vehicle Market
Figure 7. Global Low Speed Vehicle Market, Industry Landscape
Figure 8. Global Low Speed Vehicle Market, Geography Analysis
Figure 9. North America: PEST Analysis
Figure 10. Europe: PEST Analysis
Figure 11. APAC: PEST Analysis
Figure 12. MEA: PEST Analysis
Figure 13. SAM: PEST Analysis
Figure 14. Ecosystem Analysis
Figure 15. Expert Opinion
Figure 16. Low Speed Vehicle Market Impact Analysis of Drivers And Restraints
Figure 17. Geographic Overview of Low Speed Vehicle Market
Figure 18. Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 19. Low Speed Vehicle Market Revenue Share, by Type (2019 and 2027)
Figure 20. Commercial Turf Utility Vehicles: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Golf Carts: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Industrial Utility Vehicles: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Personnel Carriers: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Low Speed Vehicle Market Revenue Share, by Propulsion (2019 and 2027)
Figure 25. Diesel: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Electric: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Less than 5 HP: Revenue and Forecast to 2027 (US$ Million)
Figure 28. 5 – 8 HP: Revenue and Forecast to 2027 (US$ Million)
Figure 29. More than 8 HP: Revenue and Forecast to 2027 (US$ Million)
Figure 30. Gasoline: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Global Low Speed Vehicle Market Revenue Share, by Region (2019 and 2027)
Figure 32. North America: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. North America: Low Speed Vehicle Market Revenue Share, by Type (2019 and 2027)
Figure 34. North America: Low Speed Vehicle Market Revenue Share, by Propulsion (2019 and 2027)
Figure 35. North America: Low Speed Vehicle Market Revenue Share, by Key Country (2019 and 2027)
Figure 36. US: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. Canada: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. Mexico: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 39. Europe: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 40. Europe: Low Speed Vehicle Market Revenue Share, by Type (2019 and 2027)
Figure 41. Europe: Low Speed Vehicle Market Revenue Share, by Propulsion (2019 and 2027)
Figure 42. Europe: Low Speed Vehicle Market Revenue Share, by Key Country (2019 and 2027)
Figure 43. Germany: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 44. France: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 45. Italy: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 46. UK: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 47. Russia: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 48. Rest of Europe: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 49. APAC: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 50. APAC: Low Speed Vehicle Market Revenue Share, by Type (2019 and 2027)
Figure 51. APAC: Low Speed Vehicle Market Revenue Share, by Propulsion (2019 and 2027)
Figure 52. APAC: Low Speed Vehicle Market Revenue Share, by Key Country (2019 and 2027)
Figure 53. Australia: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 54. China: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 55. India: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 56. Japan: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 57. South Korea: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 58. Rest of APAC: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 59. MEA: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 60. MEA: Low Speed Vehicle Market Revenue Share, by Type (2019 and 2027)
Figure 61. MEA: Low Speed Vehicle Market Revenue Share, by Propulsion (2019 and 2027)
Figure 62. MEA: Low Speed Vehicle Market Revenue Share, by Key Country (2019 and 2027)
Figure 63. South Africa: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 64. Saudi Arabia: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 65. UAE: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 66. Rest of MEA: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 67. SAM: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 68. SAM: Low Speed Vehicle Market Revenue Share, by Type (2019 and 2027)
Figure 69. SAM: Low Speed Vehicle Market Revenue Share, by Propulsion (2019 and 2027)
Figure 70. SAM: Low Speed Vehicle Market Revenue Share, by Key Country (2019 and 2027)
Figure 71. Brazil: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 72. Argentina: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 73. Rest of SAM: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
The List of Companies - Low Speed Vehicle Market
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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