Market Overview:
The global neighbourhood electric 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 electric vehicles across the globe and the rising awareness about their benefits. The neighbourhood electric vehicle market can be segmented on the basis of type into heavy type electric vehicles and light type electric vehicles.
Product Definition:
A neighbourhood electric vehicle (NEV) is a battery electric or plug-in hybrid electric vehicle that is designed for limited street use and has a top speed of 25 miles per hour (40 km/h) or less. NEVs are classified as Low Speed Vehicles by the United States Department of Transportation.
The importance of NEVs is that they provide an option for people who want to drive an environmentally friendly car, but do not need all the capabilities of a traditional car. For example, NEVs can be used for short trips to the grocery store or running errands around town. They are also good for people who live in areas where traditional cars may not be able to travel, such as in neighborhoods with narrow streets or high levels of pedestrian traffic.
Heavy Type Electric Vehicle:
Heavy type electric vehicle is a battery powered truck or bus with large capacity to carry more than nine passengers. They are used for long-distance travel and can be charged through an external source of power such as a wall outlet. Heavy type vehicles can travel up to ten miles per hour and require around four hours for full charge.
The global heavy type electric vehicle market was valued at USD 54,600 thousand in 2015.
Light Type Electric Vehicle:
Light type electric vehicles are passenger cars or light-duty commercial vehicles that are designed to assist people with limited physical mobility. They have a seating capacity of no more than five persons and are equipped with an electric drivetrain. Light-type EVs can be operated without any external power source; however, they generally use lithium batteries for storage purposes.
The global light type EV market size was valued at USD 5,15 billion in 2018.
Application Insights:
The community type application segment dominated the global market in 2017. This can be attributed to the fact that most of the consumers prefer purchasing electric vehicles for personal use and do not opt for commercial purposes such as car rental or hiring services. Moreover, manufacturers are providing free charging stations to owners of EVs, which is further driving the growth of this segment. For instance, Electrify America Inc., a subsidiary of Volkswagen Group has provided over 1,000 EV chargers along with 50 Electric buses to various cities across United States including Boston, Chicago and Los Angeles among others.
Downtown application is expected to be one of the fastest-growing segments during forecast years owing to rising investments by central governments in order to reduce carbon emissions from transportation systems such as railways and roadways.
Regional Analysis:
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. The region accounted for a share of more than 60% in 2017 owing to increasing demand from China and Japan. In addition, supportive government initiatives are expected to drive the adoption of EVs in countries such as India and Singapore over the next few years. Europe is also projected to witness considerable growth during the forecast period owing to rising consumer awareness regarding environment friendly vehicles along with growing focus on reducing carbon footprint by using electric vehicles across major cities such as London, Paris, and Rome among others. North America held a significant share in global market due its high demand for heavy type electric vehicle used primarily for commercial purposes including garbage collection, waste management etc., especially within U.S.
Growth Factors:
- Increasing demand for electric vehicles due to environmental concerns and rising fuel costs
- Government initiatives and subsidies for electric vehicles
- Development of charging infrastructure for electric vehicles
- Growing popularity of car sharing and ride sharing services that use NEVs
- Advances in battery technology that make NEVs more affordable and practical
Scope Of The Report
Report Attributes
Report Details
Report Title
Neighbourhood Electric Vehicle Market Research Report
By Type
Heavy Type Electric Vehicle, Light Type Electric Vehicle
By Application
Community, Downtown, School, Others
By Companies
Renault, Eli Electric Vehicles, Chrysler, Suzhou Eagle Electric Vehicle Manufacturing Co, ADOMANI, Romet, Yogomo, Global Electric Motorcars
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
127
Number of Tables & Figures
89
Customization Available
Yes, the report can be customized as per your need.
Global Neighbourhood Electric Vehicle Market Report Segments:
The global Neighbourhood Electric Vehicle market is segmented on the basis of:
Types
Heavy Type Electric Vehicle, Light Type Electric 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
Community, Downtown, School, Others
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:
- Renault
- Eli Electric Vehicles
- Chrysler
- Suzhou Eagle Electric Vehicle Manufacturing Co
- ADOMANI
- Romet
- Yogomo
- Global Electric Motorcars
Highlights of The Neighbourhood 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:
- Heavy Type Electric Vehicle
- Light Type Electric Vehicle
- By Application:
- Community
- Downtown
- School
- Others
- 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 Neighbourhood 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?
A neighbourhood electric vehicle (NEV) is a type of electric car that can be driven on public roads. NEVs are typically smaller and lighter than traditional cars, making them easier to operate and park. They also have lower emissions than traditional cars, making them better for the environment.
Some of the major companies in the neighbourhood electric vehicle market are Renault, Eli Electric Vehicles, Chrysler, Suzhou Eagle Electric Vehicle Manufacturing Co, ADOMANI, Romet, Yogomo, Global Electric Motorcars.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Neighbourhood 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 Neighbourhood Electric Vehicle Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Neighbourhood 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 Neighbourhood 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 Neighbourhood Electric Vehicle Market Size & Forecast, 2020-2028
4.5.1 Neighbourhood Electric Vehicle Market Size and Y-o-Y Growth
4.5.2 Neighbourhood Electric Vehicle Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Heavy Type Electric Vehicle
5.2.2 Light Type Electric Vehicle
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Community
6.2.2 Downtown
6.2.3 School
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Neighbourhood 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 Neighbourhood 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Heavy Type Electric Vehicle
9.6.2 Light Type Electric 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 Market Size Forecast by Applications
9.10.1 Community
9.10.2 Downtown
9.10.3 School
9.10.4 Others
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Heavy Type Electric Vehicle
10.6.2 Light Type Electric 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 Market Size Forecast by Applications
10.10.1 Community
10.10.2 Downtown
10.10.3 School
10.10.4 Others
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Heavy Type Electric Vehicle
11.6.2 Light Type Electric 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 Market Size Forecast by Applications
11.10.1 Community
11.10.2 Downtown
11.10.3 School
11.10.4 Others
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Heavy Type Electric Vehicle
12.6.2 Light Type Electric 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 Market Size Forecast by Applications
12.10.1 Community
12.10.2 Downtown
12.10.3 School
12.10.4 Others
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Heavy Type Electric Vehicle
13.6.2 Light Type Electric 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) Market Size Forecast by Applications
13.10.1 Community
13.10.2 Downtown
13.10.3 School
13.10.4 Others
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 Neighbourhood Electric Vehicle Market: Competitive Dashboard
14.2 Global Neighbourhood Electric Vehicle Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Renault
14.3.2 Eli Electric Vehicles
14.3.3 Chrysler
14.3.4 Suzhou Eagle Electric Vehicle Manufacturing Co
14.3.5 ADOMANI
14.3.6 Romet
14.3.7 Yogomo
14.3.8 Global Electric Motorcars
