Market Overview:
The global low speed neighborhood electric vehicle market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for low speed electric vehicles for personal use, public utilities, golf carts, sightseeing cars and other applications. Additionally, the growing awareness about environment-friendly transportation options is also propelling the growth of this market. However, high initial cost and lack of charging infrastructure are some of the major factors restraining the growth of this market. Based on type, gas power NEVs accounted for a larger share in 2017 and is expected to maintain its dominance during the forecast period. This can be attributed to their lower price as compared to electric power NEVs and higher fuel efficiency as compared to battery powered NEVs.
Product Definition:
A Low Speed Neighborhood Electric Vehicle is a vehicle that is typically used for short trips around a neighborhood or community. These vehicles are typically battery powered and have a top speed of 25 miles per hour or less. Low Speed Neighborhood Electric Vehicles are important because they provide an affordable, environmentally friendly transportation option for people who live in urban areas.
Electric Power NEV:
Electric Power NEV, or Electric Power Need Index is a number that represents the total power required to drive an electric vehicle. The higher the number, the more efficient and cleaner an electric car is compared to conventional vehicles.
Gas Power NEV:
Gas power NEV or Low Speed Electric Vehicle is a type of electric vehicle that uses gas as the main source of energy. It has an engine, which can be used for both propulsion and electricity generation. The most common way to implement this technology is by using dual fuel engines, in which case the gas turbine acts as both generator and motor.
Application Insights:
The global low speed neighborhood electric vehicle market, by application, is segmented into personal use, public utilities, golf cart and sightseeing cars. Personal use vehicles are likely to dominate the overall industry owing to increasing consumer preference for passenger vehicles over other modes of transport. The segment is further subdivided into urban and rural areas. Urban areas include cities while rural areas consist of the surrounding area without a city center or large enough population to support a bus service. Sightseeing cars are expected to be one of the fastest growing segments due in part with increasing tourism activities across various countries globally including China Japan Russia India etc. Public utility vehicles on the other hand are majorly used for logistics & transportation purposes such as delivering food from restaurants throught delivery boyns using an electric power NEV as well as charging stations at hotels shopping malls offices etc.
Regional Analysis:
Europe dominated the global market in terms of revenue share in 2017. The region is expected to continue its dominance over the forecast period owing to increasing government initiatives and favorable regulations for low speed electric vehicles. For instance, In 2015, The Netherlands introduced a new law that allowed free parking spaces for BEV and PHEV as well as pay-and-display parking spaces exclusively for LSEVs. This policy was implemented to encourage people not only to purchase these vehicles but also use public transport instead of private cars which causes air pollution and other harmful gases emission.
Asia Pacific is anticipated to be the fastest growing regional market from 2018 to 2030 due high growth rate of manufacturing facilities set up by companies such as Tesla Motors, Inc., Ford Motor Company, BMW AG among others in countries such China and Japan respectively’s major cities including Tokyo Shanghai etc.
Growth Factors:
- Increasing demand for low speed neighborhood electric vehicles from the commercial sector for last mile deliveries and transportation.
- Low cost of ownership and operation as compared to traditional gasoline or diesel vehicles
- Government incentives and subsidies for low speed neighborhood electric vehicles in order to promote their adoption
- Growing awareness about the benefits of low speed neighborhood electric vehicles among consumers
- Proliferation of charging infrastructure for low speed neighborhood electric vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Low Speed Neighborhood Electric Vehicle Market Research Report
By Type
Electric Power NEV, Gas Power NEV
By Application
Personal Use, Public Utilities, Golf Cart, Sightseeing Cars, Other
By Companies
Byvin Corporation, Renault, Yogomo, Ingersoll Rand, Textron, Shifeng, Polaris, Yamaha, Lichi, Yika, Xinyuzhou, Shenzhen Marshell Green Power, Eagle
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
133
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global Low Speed Neighborhood Electric Vehicle Market Report Segments:
The global Low Speed Neighborhood Electric Vehicle market is segmented on the basis of:
Types
Electric Power NEV, Gas Power NEV
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Personal Use, Public Utilities, Golf Cart, Sightseeing Cars, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Byvin Corporation
- Renault
- Yogomo
- Ingersoll Rand
- Textron
- Shifeng
- Polaris
- Yamaha
- Lichi
- Yika
- Xinyuzhou
- Shenzhen Marshell Green Power
- Eagle
Highlights of The Low Speed Neighborhood Electric Vehicle Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electric Power NEV
- Gas Power NEV
- By Application:
- Personal Use
- Public Utilities
- Golf Cart
- Sightseeing Cars
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Low Speed Neighborhood Electric Vehicle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Low Speed Neighborhood Electric Vehicle (LSNEV) is a type of electric vehicle that travels at speeds up to 25 mph.
Some of the major companies in the low speed neighborhood electric vehicle market are Byvin Corporation, Renault, Yogomo, Ingersoll Rand, Textron, Shifeng, Polaris, Yamaha, Lichi, Yika, Xinyuzhou, Shenzhen Marshell Green Power, Eagle.
The low speed neighborhood electric vehicle market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Low Speed Neighborhood Electric Vehicle Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Low Speed Neighborhood Electric Vehicle Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Low Speed Neighborhood Electric Vehicle Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Low Speed Neighborhood Electric Vehicle Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Low Speed Neighborhood Electric Vehicle Market Size & Forecast, 2018-2028
4.5.1 Low Speed Neighborhood Electric Vehicle Market Size and Y-o-Y Growth
4.5.2 Low Speed Neighborhood Electric Vehicle Market Absolute $ Opportunity
Chapter 5 Global Low Speed Neighborhood Electric Vehicle Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Low Speed Neighborhood Electric Vehicle Market Size Forecast by Type
5.2.1 Electric Power NEV
5.2.2 Gas Power NEV
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Low Speed Neighborhood Electric Vehicle Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Low Speed Neighborhood Electric Vehicle Market Size Forecast by Applications
6.2.1 Personal Use
6.2.2 Public Utilities
6.2.3 Golf Cart
6.2.4 Sightseeing Cars
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Low Speed Neighborhood Electric Vehicle Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Low Speed Neighborhood Electric Vehicle Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Low Speed Neighborhood Electric Vehicle Analysis and Forecast
9.1 Introduction
9.2 North America Low Speed Neighborhood Electric Vehicle Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Low Speed Neighborhood Electric Vehicle Market Size Forecast by Type
9.6.1 Electric Power NEV
9.6.2 Gas Power NEV
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Low Speed Neighborhood Electric Vehicle Market Size Forecast by Applications
9.10.1 Personal Use
9.10.2 Public Utilities
9.10.3 Golf Cart
9.10.4 Sightseeing Cars
9.10.5 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Low Speed Neighborhood Electric Vehicle Analysis and Forecast
10.1 Introduction
10.2 Europe Low Speed Neighborhood Electric Vehicle Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Low Speed Neighborhood Electric Vehicle Market Size Forecast by Type
10.6.1 Electric Power NEV
10.6.2 Gas Power NEV
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Low Speed Neighborhood Electric Vehicle Market Size Forecast by Applications
10.10.1 Personal Use
10.10.2 Public Utilities
10.10.3 Golf Cart
10.10.4 Sightseeing Cars
10.10.5 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Low Speed Neighborhood Electric Vehicle Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Low Speed Neighborhood Electric Vehicle Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Low Speed Neighborhood Electric Vehicle Market Size Forecast by Type
11.6.1 Electric Power NEV
11.6.2 Gas Power NEV
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Low Speed Neighborhood Electric Vehicle Market Size Forecast by Applications
11.10.1 Personal Use
11.10.2 Public Utilities
11.10.3 Golf Cart
11.10.4 Sightseeing Cars
11.10.5 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Low Speed Neighborhood Electric Vehicle Analysis and Forecast
12.1 Introduction
12.2 Latin America Low Speed Neighborhood Electric Vehicle Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Low Speed Neighborhood Electric Vehicle Market Size Forecast by Type
12.6.1 Electric Power NEV
12.6.2 Gas Power NEV
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Low Speed Neighborhood Electric Vehicle Market Size Forecast by Applications
12.10.1 Personal Use
12.10.2 Public Utilities
12.10.3 Golf Cart
12.10.4 Sightseeing Cars
12.10.5 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Low Speed Neighborhood Electric Vehicle Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Low Speed Neighborhood Electric Vehicle Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Low Speed Neighborhood Electric Vehicle Market Size Forecast by Type
13.6.1 Electric Power NEV
13.6.2 Gas Power NEV
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Low Speed Neighborhood Electric Vehicle Market Size Forecast by Applications
13.10.1 Personal Use
13.10.2 Public Utilities
13.10.3 Golf Cart
13.10.4 Sightseeing Cars
13.10.5 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Low Speed Neighborhood Electric Vehicle Market: Competitive Dashboard
14.2 Global Low Speed Neighborhood Electric Vehicle Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Byvin Corporation
14.3.2 Renault
14.3.3 Yogomo
14.3.4 Ingersoll Rand
14.3.5 Textron
14.3.6 Shifeng
14.3.7 Polaris
14.3.8 Yamaha
14.3.9 Lichi
14.3.10 Yika
14.3.11 Xinyuzhou
14.3.12 Shenzhen Marshell Green Power
14.3.13 Eagle
