Market Overview:
The global micro EVs 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, rising awareness about environment-friendly transportation options, and government initiatives and subsidies for the adoption of electric vehicles. The global micro EVs market is segmented on the basis of type, application, and region. On the basis of type, it is divided into lead-acid battery EVs and lithium-ion battery EVs. Lead-acid battery EVs are expected to account for a larger share of the market than lithium-ion battery EVs during the forecast period owing to their lower cost and longer life span as compared with lithium-ion batteries. On the basis of application, it is segmented into personal use, commercial use (sightseeing tours etc.), and public utilities (taxis etc.). Personal use accounted for a major share of this market in 2017 owing to its growing popularity among consumers as an affordable alternative to traditional gasoline or diesel cars.
Product Definition:
Micro EVs are electric vehicles that are smaller in size than traditional electric vehicles. They are often used for short-distance travel, such as within a city or town. The importance of micro EVs lies in their ability to help reduce greenhouse gas emissions and improve air quality. Additionally, they can provide users with an affordable mode of transportation that is more environmentally friendly than traditional gasoline-powered cars.
Lead-acid Battery EVs:
Lead-acid battery EVs are the most widely used type of electric vehicle (EV) on roads today. They accounted for over 75% of the global market share in 2015 and their demand is expected to grow at a CAGR close to 1% from 2016 to 2025. The growth can be attributed mainly to three factors: first, they are economical; second, they have a large capacity; and third, they offer better performance than any other alternative available today.
Lithium-ion Battery EVs:
Lithium-ion battery EVs are used in Micro EV market. Lithium-ion batteries have high energy density, low self-discharge rate and they can be recycled. These properties make lithium ion battery an ideal choice for electric vehicles (EVs) and other portable electronic devices with long life expectancy.
Application Insights:
The commercial use segment dominated the global micro EVs market in terms of revenue share in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing government initiatives and regulations for promoting electric vehicles usage, such as ¢â‚¬Å“Tax Incentives For Electric Vehicles (TITE)¢â‚¬ program in several countries including China, Norway and France. Under this scheme, companies purchasing an electric vehicle get tax credits up to USD 7,000 each year.
In addition, public utilities are major end users of these vehicles due to their ability to operate on a limited range without requiring a recharge like large passenger cars or light commercial vehicles do. This makes them ideal for utility applications as they can be recharged from conventional power sources such as wall sockets at offices or homes which would otherwise require large diesel buses or trucks for that purpose.
Regional Analysis:
Asia Pacific is anticipated to witness the highest CAGR of XX% during the forecast period. This growth can be attributed to supportive government policies, increasing disposable income and rising awareness about climate change. China has been at the forefront of this industry with its manufacturing capabilities and brand value. It is also expected to dominate global sales in terms of both volume and revenue in near future due to factors such as low cost, high efficiency, large battery capacity (in terms of kilowatt-hours) per vehicle unit price (kW/Km), etc.
Europe accounted for a significant share owing to stringent regulations by various governments across countries regarding carbon emissions caused from vehicles using conventional fuels or electricity sources for power generation purposes along with other environmental benefits offered by EVs over ICEs or HEVs that include lower emission levels along with reduced fuel consumption rates per unit distance travelled i.e., Kilometres Per Gallon Equivalent (kpge).
Growth Factors:
- Increasing demand for Micro EVs from the automotive sector as a result of stringent emission norms by regulatory authorities across the globe.
- Proliferation of shared mobility services, such as ride-sharing and car-sharing, is expected to boost the demand for Micro EVs in the coming years.
- Growing popularity of electric vehicles among consumers due to their low operating costs and environment-friendly nature is anticipated to fuel the growth of Micro EVs market in near future.
- Rising investment by key players in R&D activities for developing advanced technologies related to micro electric vehicles is likely to create new opportunities for this market in forthcoming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Micro EVs Market Research Report
By Type
Lead-acid Battery EVs, Lithium-ion Battery EVs
By Application
Personal Use, Commercial Use (Sightseeing, Golf etc.), Public Utilities
By Companies
Yogomo, Shifeng, Textron, Dojo, Byvin, Polaris, Lichi, Baoya, Tangjun, Yamaha, Fulu, Xinyuzhou, GreenWheel EV, Incalu, Kandi, Renault, APACHE, Garia, Zheren, Ingersoll Rand, CitEcar Electric Vehicles, Eagle, Taiqi
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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Micro EVs Market Report Segments:
The global Micro EVs market is segmented on the basis of:
Types
Lead-acid Battery EVs, Lithium-ion Battery EVs
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, Commercial Use (Sightseeing, Golf etc.), Public Utilities
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:
- Yogomo
- Shifeng
- Textron
- Dojo
- Byvin
- Polaris
- Lichi
- Baoya
- Tangjun
- Yamaha
- Fulu
- Xinyuzhou
- GreenWheel EV
- Incalu
- Kandi
- Renault
- APACHE
- Garia
- Zheren
- Ingersoll Rand
- CitEcar Electric Vehicles
- Eagle
- Taiqi
Highlights of The Micro EVs 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:
- Lead-acid Battery EVs
- Lithium-ion Battery EVs
- By Application:
- Personal Use
- Commercial Use (Sightseeing, Golf etc.)
- Public Utilities
- 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 Micro EVs 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?
Micro EVs are electric vehicles that have a small battery pack. They are typically less than three meters long and weigh less than two metric tons.
Some of the key players operating in the micro evs market are Yogomo, Shifeng, Textron, Dojo, Byvin, Polaris, Lichi, Baoya, Tangjun, Yamaha, Fulu, Xinyuzhou, GreenWheel EV, Incalu, Kandi, Renault, APACHE, Garia, Zheren, Ingersoll Rand, CitEcar Electric Vehicles, Eagle, Taiqi.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Micro EVs 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. Micro EVs Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Micro EVs Market - Supply Chain
4.5. Global Micro EVs Market Forecast
4.5.1. Micro EVs Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Micro EVs Market Size (000 Units) and Y-o-Y Growth
4.5.3. Micro EVs Market Absolute $ Opportunity
5. Global Micro EVs 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. Micro EVs Market Size and Volume Forecast by Type
5.3.1. Lead-acid Battery EVs
5.3.2. Lithium-ion Battery EVs
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Micro EVs 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. Micro EVs Market Size and Volume Forecast by Application
6.3.1. Personal Use
6.3.2. Commercial Use (Sightseeing, Golf etc.)
6.3.3. Public Utilities
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Micro EVs 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. Micro EVs 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 Micro EVs 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. Micro EVs 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 Micro EVs Demand Share Forecast, 2019-2026
9. North America Micro EVs 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 Micro EVs 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 Micro EVs Market Size and Volume Forecast by Application
9.4.1. Personal Use
9.4.2. Commercial Use (Sightseeing, Golf etc.)
9.4.3. Public Utilities
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Micro EVs Market Size and Volume Forecast by Type
9.7.1. Lead-acid Battery EVs
9.7.2. Lithium-ion Battery EVs
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 Micro EVs Demand Share Forecast, 2019-2026
10. Latin America Micro EVs 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 Micro EVs 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 Micro EVs Market Size and Volume Forecast by Application
10.4.1. Personal Use
10.4.2. Commercial Use (Sightseeing, Golf etc.)
10.4.3. Public Utilities
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Micro EVs Market Size and Volume Forecast by Type
10.7.1. Lead-acid Battery EVs
10.7.2. Lithium-ion Battery EVs
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 Micro EVs Demand Share Forecast, 2019-2026
11. Europe Micro EVs 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 Micro EVs 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 Micro EVs Market Size and Volume Forecast by Application
11.4.1. Personal Use
11.4.2. Commercial Use (Sightseeing, Golf etc.)
11.4.3. Public Utilities
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Micro EVs Market Size and Volume Forecast by Type
11.7.1. Lead-acid Battery EVs
11.7.2. Lithium-ion Battery EVs
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 Micro EVs Demand Share, 2019-2026
12. Asia Pacific Micro EVs 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 Micro EVs 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 Micro EVs Market Size and Volume Forecast by Application
12.4.1. Personal Use
12.4.2. Commercial Use (Sightseeing, Golf etc.)
12.4.3. Public Utilities
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Micro EVs Market Size and Volume Forecast by Type
12.7.1. Lead-acid Battery EVs
12.7.2. Lithium-ion Battery EVs
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 Micro EVs Demand Share, 2019-2026
13. Middle East & Africa Micro EVs 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 Micro EVs 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 Micro EVs Market Size and Volume Forecast by Application
13.4.1. Personal Use
13.4.2. Commercial Use (Sightseeing, Golf etc.)
13.4.3. Public Utilities
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Micro EVs Market Size and Volume Forecast by Type
13.7.1. Lead-acid Battery EVs
13.7.2. Lithium-ion Battery EVs
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 Micro EVs Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Micro EVs Market: Market Share Analysis
14.2. Micro EVs Distributors and Customers
14.3. Micro EVs Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Yogomo
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Shifeng
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Textron
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Dojo
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Byvin
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Polaris
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Lichi
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Baoya
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Tangjun
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Yamaha
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Fulu
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Xinyuzhou
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. GreenWheel EV
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Incalu
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Kandi
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Renault
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. APACHE
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Garia
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Zheren
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Ingersoll Rand
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
