Lucintel’s latest market report analyzed that low speed electric vehicle provides attractive opportunities in the electric golf carts, personal utility vehicles, light speed off road, and low speed heavy duty vehicles. The low speed electric vehicle market is expected to reach $8.92 billion by 2025 with a CAGR of 1.3%. In this market, a 48 Volt is the largest segment by voltage, whereas golf cart is largest by product type. The development of low cost lithium ion batteries, adoption of 3D printing technology for LSEV manufacturing, and increasing use of LSEVs as personal transportation vehicles in countries like United States provides strategic growth path in this market.
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Based on voltage, the low speed electric vehicle market is segmented into 24V, 36V, 48V, 60v, and 72V. The 48V segment is accounted for the largest share of the market in 2020 as it provides optimal power to price ratio and 72 Volt is expected to register the highest CAGR during the forecast period, due to rising demand for high performance LSEVs.
Browse in-depth TOC on “Low Speed Electric Vehicle Market”
105 – Tables
124 – Figures
184 – Pages
The low speed electric vehicle market is marked by the presence of several big and small players. Some of the prominent players offering low speed electric vehicle include Polaris Industries Inc., LIGIER Group, Renault Group, Yogomo Motors Co. Ltd., Textron Inc., Shifeng Group Co. and others.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link email@example.com.
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