Market Overview:
The global light 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, coupled with the rising awareness about environment-friendly transportation options. The global light electric vehicle market can be segmented on the basis of type into golf carts, sightseeing cars, electric patrol cars, and other types. The golf cart segment is expected to account for a major share of the global light electric vehicle market in terms of revenue during the forecast period. This can be attributed to their growing popularity among consumers as an affordable and eco-friendly mode of transportation. On the basis of application,the global light electric vehicle market can be divided into golf courses, landscapes, tourism destinations (hotels/resorts), park areas & gardens (manors), shopping carts & shuttles (malls/stores), scooters & motorcycles (urban transportations), and other applications.
Product Definition:
A light electric vehicle (LEV) is a battery-powered vehicle with a small engine or electric motor that assists in propulsion. LEVs are generally classified as either bicycles or motorcycles, depending on their power and speed.
Golf Cart:
Golf cart is a small motorized vehicle used for playing golf. It has a set of wheels as its primary means of transportation and is designed to carry the equipment required for play including clubs, ball, and others. The global market size spans two broad segments - by product type (conventional carts & electric carts) and by end-use (residential & commercial).
Sightseeing Car:
Sightseeing car is a type of electric vehicle that is designed primarily for tourists and travelers. It has been defined as a hybrid between a conventional car, which is driven on normal roads and highways, along with an EV, which can be used for extended distances on battery power alone. The first sightseeing cars were manufactured in the early days of the electric vehicles market by combining conventional internal combustion engine automobiles with batteries.
Application Insights:
The golf course was the leading application segment in 2017, accounting for over 40% of the global market share. The segment is expected to maintain its dominance throughout the forecast period owing to various advantages associated with electric vehicles on golf courses such as reduced noise and emissions, improved safety for pedestrians and players, and enhanced aesthetics.
Landscape is expected to be one of the fastest-growing segments due to increased government support towards promoting tourism across countries globally. Countries such as China are focusing on developing policies that will encourage domestic travel and foreign tourists arrivals through marketing strategies such as offering tax rebates on passenger cars used by foreign visitors. This trend is projected to drive demand for LEVs in landscape applications over the coming years.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing government initiatives and investments for developing smart cities. For instance, in June 2018, U.S based company Tesla Inc announced a partnership with Panasonic Corporation of North America for manufacturing solar panels at a plant in Buffalo, New York state, U.S., which is anticipated to create more than 2 thousand jobs by 2020.
Growth Factors:
- Increasing demand for environment-friendly vehicles: The global Light Electric Vehicle market is expected to grow at a significant pace in the next few years, owing to the increasing demand for environment-friendly vehicles.
- Rising disposable income of consumers: The growth of the Light Electric Vehicle market is also attributed to the rising disposable income of consumers, which has led to an increase in their purchasing power.
- Technological advancements: The development of new and innovative technologies has helped in propelling the growth of this market significantly over the past few years.
- Growing awareness about energy efficiency: There is a growing awareness among people about energy efficiency, which is helping fuel the growth of this market considerably.
Scope Of The Report
Report Attributes
Report Details
Report Title
Light Electric Vehicle Market Research Report
By Type
Golf Cart, Sightseeing Car, Electric Patrol Car, Other
By Application
Golf Course, Landscape, Tourism, Hotel, Park, Manor, Shopping Carts, Scooters, Other
By Companies
Suzuki, BMW Motorrad, Gogoro, Honda, iO Power Roller, Lit Motors, Mahindra GenZe, Piaggio Group (Vespa), SunRa, Terra Motors, Vmoto Ltd., Yadea Technology Group, Yamaha Motor Co., Ltd, Zero Motorcycles
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
239
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Light Electric Vehicle Market Report Segments:
The global Light Electric Vehicle market is segmented on the basis of:
Types
Golf Cart, Sightseeing Car, Electric Patrol Car, Other
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
Golf Course, Landscape, Tourism, Hotel, Park, Manor, Shopping Carts, Scooters, 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:
- Suzuki
- BMW Motorrad
- Gogoro
- Honda
- iO Power Roller
- Lit Motors
- Mahindra GenZe
- Piaggio Group (Vespa)
- SunRa
- Terra Motors
- Vmoto Ltd.
- Yadea Technology Group
- Yamaha Motor Co., Ltd
- Zero Motorcycles
Highlights of The Light 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:
- Golf Cart
- Sightseeing Car
- Electric Patrol Car
- Other
- By Application:
- Golf Course
- Landscape, Tourism, Hotel
- Park, Manor
- Shopping Carts, Scooters
- 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 Light 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 Light Electric Vehicle (LEV) is a type of electric vehicle that uses less energy than traditional gasoline or diesel-powered vehicles. LEVs are typically powered by electricity from batteries, and they can travel up to 100 miles on a single charge.
Some of the major players in the light electric vehicle market are Suzuki, BMW Motorrad, Gogoro, Honda, iO Power Roller, Lit Motors, Mahindra GenZe, Piaggio Group (Vespa), SunRa, Terra Motors, Vmoto Ltd., Yadea Technology Group, Yamaha Motor Co., Ltd, Zero Motorcycles.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Light Electric Vehicle Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Light Electric Vehicle Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Light Electric Vehicle Market - Supply Chain
4.5. Global Light Electric Vehicle Market Forecast
4.5.1. Light Electric Vehicle Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Light Electric Vehicle Market Size (000 Units) and Y-o-Y Growth
4.5.3. Light Electric Vehicle Market Absolute $ Opportunity
5. Global Light Electric Vehicle Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Light Electric Vehicle Market Size and Volume Forecast by Type
5.3.1. Golf Cart
5.3.2. Sightseeing Car
5.3.3. Electric Patrol Car
5.3.4. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Light Electric Vehicle Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Light Electric Vehicle Market Size and Volume Forecast by Application
6.3.1. Golf Course
6.3.2. Landscape, Tourism, Hotel
6.3.3. Park, Manor
6.3.4. Shopping Carts, Scooters
6.3.5. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Light Electric Vehicle Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Light Electric Vehicle Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Light Electric Vehicle Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Light Electric Vehicle Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Light Electric Vehicle Demand Share Forecast, 2019-2026
9. North America Light Electric Vehicle Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Light Electric Vehicle Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Light Electric Vehicle Market Size and Volume Forecast by Application
9.4.1. Golf Course
9.4.2. Landscape, Tourism, Hotel
9.4.3. Park, Manor
9.4.4. Shopping Carts, Scooters
9.4.5. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Light Electric Vehicle Market Size and Volume Forecast by Type
9.7.1. Golf Cart
9.7.2. Sightseeing Car
9.7.3. Electric Patrol Car
9.7.4. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Light Electric Vehicle Demand Share Forecast, 2019-2026
10. Latin America Light Electric Vehicle Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Light Electric Vehicle Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Light Electric Vehicle Market Size and Volume Forecast by Application
10.4.1. Golf Course
10.4.2. Landscape, Tourism, Hotel
10.4.3. Park, Manor
10.4.4. Shopping Carts, Scooters
10.4.5. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Light Electric Vehicle Market Size and Volume Forecast by Type
10.7.1. Golf Cart
10.7.2. Sightseeing Car
10.7.3. Electric Patrol Car
10.7.4. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Light Electric Vehicle Demand Share Forecast, 2019-2026
11. Europe Light Electric Vehicle Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Light Electric Vehicle Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Light Electric Vehicle Market Size and Volume Forecast by Application
11.4.1. Golf Course
11.4.2. Landscape, Tourism, Hotel
11.4.3. Park, Manor
11.4.4. Shopping Carts, Scooters
11.4.5. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Light Electric Vehicle Market Size and Volume Forecast by Type
11.7.1. Golf Cart
11.7.2. Sightseeing Car
11.7.3. Electric Patrol Cr
11.7.4. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Light Electric Vehicle Demand Share, 2019-2026
12. Asia Pacific Light Electric Vehicle Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Light Electric Vehicle Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Light Electric Vehicle Market Size and Volume Forecast by Application
12.4.1. Golf Course
12.4.2. Landscape, Tourism, Hotel
12.4.3. Park, Manor
12.4.4. Shopping Carts, Scooters
12.4.5. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Light Electric Vehicle Market Size and Volume Forecast by Type
12.7.1. Golf Cart
12.7.2. Sightseeing Car
12.7.3. Electric Patrol Car
12.7.4. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Light Electric Vehicle Demand Share, 2019-2026
13. Middle East & Africa Light Electric Vehicle Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Light Electric Vehicle Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Light Electric Vehicle Market Size and Volume Forecast by Application
13.4.1. Golf Course
13.4.2. Landscape, Tourism, Hotel
13.4.3. Park, Manor
13.4.4. Shopping Carts, Scooters
13.4.5. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Light Electric Vehicle Market Size and Volume Forecast by Type
13.7.1. Golf Cart
13.7.2. Sightseeing Car
13.7.3. Electric Patrol Car
13.7.4. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Light Electric Vehicle Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Light Electric Vehicle Market: Market Share Analysis
14.2. Light Electric Vehicle Distributors and Customers
14.3. Light Electric Vehicle Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Suzuki
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. BMW Motorrad
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Gogoro
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Honda
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. iO Power Roller
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Lit Motors
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Mahindra GenZe
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Piaggio Group (Vespa)
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. SunRa
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Terra Motors
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Vmoto Ltd.
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Yadea Technology Group
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Yamaha Motor Co., Ltd
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Zero Motorcycles
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook