Market Overview:
The global low speed new energy vehicle market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for low speed new energy vehicles across different applications such as personal use, public utilities, golf carts, sightseeing cars and others. Additionally, the increasing awareness about the benefits of using low speed new energy vehicles is also contributing to the growth of this market. Some of the major players operating in this market are Tesla Inc., BYD Auto Co., Ltd., Mahindra & Mahindra Ltd., and Polaris Industries Inc.
Product Definition:
Low Speed New Energy Vehicle is a new type of environmentally friendly vehicle that uses electricity or other clean energy sources to power its operations. These vehicles typically have a top speed of around 25 miles per hour, making them ideal for use in urban areas where traffic congestion is common. Low Speed New Energy Vehicles can help reduce emissions and improve air quality, and they also provide an economical alternative to traditional gasoline-powered vehicles.
Electric Power Vehicle:
Electric power vehicle (EPV) is a type of low-speed vehicles that run on electricity. They are also known as electric cars, battery cars or plug-in hybrid vehicles depending upon their mode of propulsion. The EPV market has been growing at a rapid pace owing to the initiatives taken by the government for its development and implementation of various policies in order to promote its use across the world.
Gas Power Vehicle:
The gas power vehicle (GPE) is a fuel-driven motor which runs on natural gas or propane and has no conventional source of energy as its source of power. The GPEs are designed to run at low speeds, typically less than 25 km/h. They are mainly used for applications where the speed limit is less than 15 miles an hour such as scooters, electric vehicles, golf carts and others.
Application Insights:
The other application segment includes electric power vehicle used for personal use, public utilities and golf cart. The personal use category dominated the global low speed new energy vehicle market in 2017, accounting for over 60% of the overall revenue share. This is attributed to growing concerns about air pollution and rising disposable income among consumers in major economies such as China, India and Germany.
Personal vehicles provide a cheaper mode of transportation as compared to commercial modes like buses or trains; however, they emit higher levels of pollutants including nitrous oxides (NOx) and particulate matter (PM2.5). Electric power vehicles have lower operational costs as they do not require fuel nor does it need any kind of periodic maintenance; this factor is expected to increase its demand across various applications over the forecast period.
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 favorable government policies and increasing investments by industry players. Asia Pacific is projected to be the fastest-growing regional market from 2018 to 2030 due to growing population, rising disposable income levels, and expanding application scope across various sectors including public transportation. Moreover, supportive government regulations are also likely contribute toward regional growth over the next eight years. For instance, China’s 13th Five Year Plan (2016 – 2020) has set a target for promoting new energy vehicles sales up to five percent of total passenger car sales by 2020.
North America held a significant share in 2017 owing high demand from U.S.
Growth Factors:
- Increasing demand for fuel-efficient vehicles: A number of governments have announced plans to phase out gasoline and diesel cars in an effort to reduce emissions and improve air quality. This is expected to create a surge in demand for low speed new energy vehicles.
- Growing popularity of shared mobility services: Shared mobility services such as car sharing and ride hailing are becoming increasingly popular, especially among millennials. This is providing a boost for the low speed new energy vehicle market as these services rely heavily on electric vehicles.
- Proliferation of charging infrastructure: The development of charging infrastructure is essential for the growth of the low speed new energy vehicle market. Governments and private companies are investing heavily in this area, which is helping to drive adoption rates higher.
Scope Of The Report
Report Attributes
Report Details
Report Title
Low Speed New Energy Vehicle Market Research Report
By Type
Electric Power Vehicle, Gas Power Vehicle
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
165
Number of Tables & Figures
116
Customization Available
Yes, the report can be customized as per your need.
Global Low Speed New Energy Vehicle Market Report Segments:
The global Low Speed New Energy Vehicle market is segmented on the basis of:
Types
Electric Power Vehicle, Gas Power Vehicle
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 New Energy 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 Vehicle
- Gas Power Vehicle
- 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 New Energy 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 New Energy Vehicle (LSNEV) is a type of electric vehicle that uses electricity from renewable resources to power its motors. These vehicles are designed to operate at speeds below 25 miles per hour, making them more efficient and environmentally friendly than traditional gasoline-powered cars.
Some of the major companies in the low speed new energy vehicle market are Byvin Corporation, Renault, Yogomo, Ingersoll Rand, Textron, Shifeng, Polaris, Yamaha, Lichi, Yika, Xinyuzhou, Shenzhen Marshell Green Power, Eagle.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Low Speed New Energy 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 New Energy Vehicle Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Low Speed New Energy 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 New Energy 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 New Energy Vehicle Market Size & Forecast, 2018-2028
4.5.1 Low Speed New Energy Vehicle Market Size and Y-o-Y Growth
4.5.2 Low Speed New Energy Vehicle Market Absolute $ Opportunity
Chapter 5 Global Low Speed New Energy 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 New Energy Vehicle Market Size Forecast by Type
5.2.1 Electric Power Vehicle
5.2.2 Gas Power Vehicle
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Low Speed New Energy 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 New Energy 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 New Energy 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 New Energy 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 New Energy Vehicle Analysis and Forecast
9.1 Introduction
9.2 North America Low Speed New Energy 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 New Energy Vehicle Market Size Forecast by Type
9.6.1 Electric Power Vehicle
9.6.2 Gas Power Vehicle
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 New Energy 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 New Energy Vehicle Analysis and Forecast
10.1 Introduction
10.2 Europe Low Speed New Energy 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 New Energy Vehicle Market Size Forecast by Type
10.6.1 Electric Power Vehicle
10.6.2 Gas Power Vehicle
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 New Energy 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 New Energy Vehicle Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Low Speed New Energy 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 New Energy Vehicle Market Size Forecast by Type
11.6.1 Electric Power Vehicle
11.6.2 Gas Power Vehicle
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 New Energy 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 New Energy Vehicle Analysis and Forecast
12.1 Introduction
12.2 Latin America Low Speed New Energy 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 New Energy Vehicle Market Size Forecast by Type
12.6.1 Electric Power Vehicle
12.6.2 Gas Power Vehicle
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 New Energy 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 New Energy Vehicle Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Low Speed New Energy 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 New Energy Vehicle Market Size Forecast by Type
13.6.1 Electric Power Vehicle
13.6.2 Gas Power Vehicle
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 New Energy 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 New Energy Vehicle Market: Competitive Dashboard
14.2 Global Low Speed New Energy 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
