Global Low Speed Vehicle Market Report 2020: Market is Estimated to be $3.9 Billion in 2020 and is Expected to Reach $6.36 Billion by 2025
DUBLIN, Nov. 9, 2020 /PRNewswire/ -- The "Global Low Speed Vehicle Market 2020-2025 by Vehicle Type, Power Output, Fuel Used, Application, Geography, Impact of COVID-19, Ansoff's Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Low Speed Vehicle Market is estimated to be USD 3.9 Bn in 2020 and is expected to reach USD 6.36 Bn by 2025 growing at CAGR of 8.5%.
Growth of the market is attributed to the increasing Geriatric population, Growing infrastructure for EV charging and strict emission regulations. The market is hampered due to the lack of safety standards and absence of fail-safe electric and electronic components used in the LSVs. Advancements in mobility solution, increasing use of connected technology and use of Lithium-ion batteries will create opportunities in the market.
Low speed vehicles are four wheeled vehicles with speed range of 20-25 miles per hour and GVWR not exceeding 2500 pounds. Typically, the LSVs are used for hunting, golfing, ground keeping, campus security etc. Hotels, Golf Clubs, Airports are some of the key users of LSVs.
Segments Covered
By Applications, Hotels and Resorts are estimated to have largest market share, due to increased spending on leisure, growth of the segment in the recent years etc. The demand from Golf clubs is expected to increase significantly during forecast period. North America is anticipated to have a large market share and is expected to grow significantly during the forecast period. The growth of the market is attributed to the demand of LSVs in various application such as Golf clubs, resorts, airports etc. The Global Low Speed Vehicle Market is segmented based vehicle type, power output, fuel used, application and geography.
IGR Competitive Quadrant
The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share etc.
Some of the companies covered in this report are Bintelli Electric Vehicles, Club Car LLC, Cruise Car, Inc., Deere & Company, HDK Co., Ltd., Moto Electric Vehicles, Polaris Inc., Textron Specialized Vehicles Inc., The Toro Company, Yamaha Golf-Car Company.
Market Dynamics
Drivers
- Increasing Geriatric Population
- Growing EV charging infrastructure
- Stringent emission regulations
Restraints
- Lack of safety standards
- Absence of fail-proof components
Opportunities
- Advancements in Mobility Solutions
- Use of Lithium-ion batteries
- Connected Vehicle Technology
Key Topics Covered:
1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Trends
5 Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Low Speed Vehicle Market, by Vehicle Type
6.1 Introduction
6.2 Golf Cart
6.3 Commercial Turf Utility Vehicle
6.4 Industrial Utility Vehicle
6.5 Personal Mobility Vehicle
7 Global Low Speed Vehicle Market, by Power Output
7.1 Introduction
7.2 Less than 8 Kw
7.3 8 Kw-15 Kw
7.4 More than 15 Kw
8 Global Low Speed Vehicle Market, by Fuel Used
8.1 Introduction
8.2 Electric
8.3 Gasoline
8.4 Diesel
9 Global Low Speed Vehicle Market, by Application Type
9.1 Introduction
9.2 Golf Courses
9.3 Hotels & Resorts
9.4 Airports
9.5 Industrial Facilities
10 Global Low Speed Vehicle Market, by Geography
11 Competitive Landscape
11.1 IGR Competitive Quadrants
11.2 Market Share Analysis
11.3 Competitive Scenario
12 Company Profiles
12.1 Bintelli Electric Vehicles
12.2 Club Car, LLC
12.3 Cruise Car, Inc.
12.4 Deere & Company
12.5 Hdk Co. Ltd.
12.6 Moto Electric Vehicles
12.7 Polaris Inc.
12.8 Textron Specialized Vehicles Inc.
12.9 the Toro Company
12.10 Yamaha Golf-Car Company
For more information about this report visit https://www.researchandmarkets.com/r/uno673
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article