Low speed Vehicle Market Information 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. The global low-speed vehicle market has seen remarkable growth in the global market and it has been observed that, its demand in future is expected to grow with the CAGR of 5%.
Low Speed Vehicle Market Key Players Analyzed In Report:
The key players in Low Speed Vehicle market 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), and Club Car (U.S.), Taylor-Dunn (U.S.), American Landmaster (U.S.), Ontario Drive & Gear Ltd. (Canada) and others.
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Growing Demand for Low Speed Vehicle:
The increasing urbanization in the developing economies all over the globe, such as China and U.S., is generating immense opportunities for the manufacturers of the low-speed vehicles to satisfy the emerging needs of the economic mobility infrastructure. 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.
Restraints in Low Speed Vehicle:
However, the growth of the low-speed vehicle market is expected to be hindered by the lack of reliable government policies and information, in developing countries to promote the use of the low-speed vehicles.
Market Segmentation:
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 Vehicle (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.
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 a large number of 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.
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Major Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain Of Global Low Speed Vehicle Market
5 Industry Overview Of Global Low Speed Vehicle Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
5.5 Impact Analysis
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
Continued…
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