Low speed vehicles is a class of 4 wheeler vehicles that have maximum capable speed of 40 km/h and minimum capable speed of 32 km/h that allow them to travel on public roads. These LSV have power output between 8 kW to 15 kW. LSV are available in three propulsion type namely diesel, electric and gasoline. There are various types of these LCVs which are available in the market namely commercial turf utility vehicles, golf carts, industrial utility vehicles and personnel carriers which are used for various purposes. The increasing urbanization in the developing countries all over the world, such as China, India and others is generating immense opportunities for the manufacturers of the low-speed vehicles to satisfy the emerging needs of the economic mobility infrastructure.
The Global Low Speed Vehicle Market is expected to reach USD 13.18 billion by 2025, from USD 8.93 billion in 2017 growing at a CAGR of 5.1% during the forecast period of 2019 to 2026. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2019 to 2026.
Global Low Speed Vehicle Market research report is a brilliant report that helps the individual to make vital choices and accomplish development targets. The study of this report has been utilized to analyze different fragments that are depended upon to observe the speediest advancement dependent on the assessed conjecture outline. Various strategies and procedures were utilized to assemble and assess the data. The market research report perceives the prerequisite to stay educated in this aggressive market conditions and consequently offers a bit of wide-running data for settling on choice and methodologies so as to enlarge the market productivity and development.
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Major Key players profiled in this report are:
Polaris, Deere, Kubota, Club Car/Ingersoll Rand, and Textron
The other players in the market are Yamaha, Kawasaki, Ontario, American Sportworks, Bad Boy/Intimidator, ACG, Inc., JH Global Services, Inc., Farasis Energy, Inc., Bintelli Electric Vehicles, Ontario Drive & Gear Ltd., and many more.
Major Market Drivers: Large aging population to drive the demand for LSVs, Stringent emission regulations, integrated mobility of LSVs
The global low speed vehicle market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of low speed vehicle market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
By Power Output
- <8 kW
- 8 kW–15 kW
- >15 kW
- South Korea
- Rest of south America
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