Global Low Speed Vehicle Market is Report by Propulsion (Diesel, Electric, Gasoline), By Vehicle Type (Neighborhood electric vehicles (NEV), Electric golf carts, Electric personal utility vehicles, Off-road electric vehicles and Commercial electric vehicles), By End-users (Golf courses, Airports, Hotels and resorts, Residential premises, Other) And by Region – Forecast To 2023.
Low Speed Vehicle Market Key Players Analyzed In Report are:
Polaris Industries (U.S.), Textron (U.S.), Deere & Co. (U.S.), The Toro Company (U.S.), Kubota Corporation (Japan), Yamaha Motor Company Limited (Japan), Club Car (U.S.), Taylor-Dunn (U.S.), American Land master (U.S.), Ontario Drive & Gear Ltd. (Canada) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Low Speed Market.
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The high demand for Low Speeds Vehicle is due to the growth in the green vehicles and changing face of transportation industry. A Low Speed Vehicle that maximum capable speed of 40 Km/h that allows to travel on public roads and are equipped to carry up to six passengers. Consumer preference for short commute will boosts the market growth. The better performance, less use of energy, reduced noises and easy to manoeuvre are estimated to gain higher popularity during the forecast period. Focus towards the changing lifestyle of consumers and increasing demand for resorts and golf course projects, enhance the growth of the Low Speed Vehicle market for automotive sector. However, the limited travel range and travel speed acts as a barrier for the growth of Low Speed Vehicle market.
The growth of the Low Speed Vehicles is majorly driven by the increasing pressure from the government for reducing the emission of greenhouse gases. The governments of many developed and developing nations, are taking initiatives for promoting the deployment of electric vehicles, which would further help in reducing the conventional fossil fuel consuming vehicles fleet. The rapidly increasing demand for non-polluting and low-speed electric vehicles by various hotels, airports, public transportation and golf courses, is one of the factors majorly contributing in the growth of global Low Speed Vehicles market.
The automotive industry are consumer oriented and dynamic in nature. The cut throat competition in the market constantly requires investment to update their technology to cope with increasing incidence of customization by the consumers. Development of Low Speed Vehicle require constant research & development support thus resulting in extensive capital investment at a constant rate. The maintenance cost and operating cost of Low Speed Vehicles are less costly in order to acquire a greater market share than their competitors.
Low Speed Vehicle Market Segments:
The Global Low Speed Vehicle Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by Propulsion: Diesel, Electric and Gasoline.
- Segmentation by End Users: Golf courses, Airports, Hotels and resorts, Residential premises, other
- Segmentation by Vehicle Type: Neighborhood electric vehicles (NEV), Electric golf carts, Electric personal utility vehicles, Off-road electric vehicles and Commercial electric vehicles
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Low Speed Vehicle Market Regional Analysis:
Geographically, the global Low Speed Vehicle market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region is expected to grow significantly over the forecast period, owing to the undertaking of many projects of golf courses, which in turn will result in higher demand for new electric golf carts. Also, the undertaking of government initiatives in developing countries such as China, Brazil and India for deployment of Low Speed Vehicles in public transport, is driving the growth of the market.
Industry/ Innovation/ Related News:
April, 2017 – Kubota Corporation has begun full-scale operation of new production plant for utility vehicles through Kubota Manufacturing of America (KMA).
January, 2017 – Textron specialized vehicle Inc. has acquired TKVGPS, a provider of GPS-based fleet management solutions and GPS technologies to enhance the on-course experience of golfers.
July, 2017 – Yamaha Motor Co., Ltd. opened Yamaha Motor NTTF Training Center, newly established at the Chennai Plant of its local subsidiary India Yamaha Motor Pvt. Ltd. (IYM). The YNTC is the first center opened as part of the Japan-India Institute for Manufacturing (JIM) initiative, which is being undertaken by the Government of Japan, the Government of the Republic of India, and Japanese companies as a key part of the public-private sector Manufacturing Skill Transfer Promotion Program.
Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
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