Micro EVs is expected to grow at a CAGR of roughly 8.3% over the next five years, will reach 9220 million US$ in 2024 | | Top Leading Companies-Yogomo, Shifeng, Textron, Dojo, Byvin, Polaris, Lichi, Baoya, Tangjun, Yamaha, Fulu, Xinyuzhou, GreenWheel EV,

Acquire Market Research has announced a new report titled “Global Micro EVs Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” to their offerings

The worldwide market for Micro EVs is expected to grow at a CAGR of roughly 8.3% over the next five years, will reach 9220 million US$ in 2024, from 5720 million US$ in 2019, according to a new study.

A micro electric vehicle (EV) is a four-wheeled electric powered micro vehicle with an attainable speed of more than 20 miles per hour but not more than 25 miles per hour (in China, not more than 70 kilometers per hour) on a paved surface, and it usually has a gross vehicle weight rating (GVWR) of less than 3,000 pounds.

Neighborhood electric vehicles (NEVs), golf carts and utility terrain vehicles all fall into this category.

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Scope of the Report:
Global Sales of Micro EVs surged in the past two years with the good sales of scooters in China market. Global Micro EVs are expected to sell 2.51 million units in 2025 and more than 80% will appear in China market, which exhibits a promising trend of the industry. For the products types, lithium ion batteries based Micro EVs are more favored in USA, Europe and Japan, while lead-acid batteries based products take a large market share in China.

Attracted by the market profits, more and more companies have entered into Micro EVs industry, the competition between manufacturers at home and abroad is fierce for the time being. For the major players of Micro EVs industry in global market, Textron, Yamaha and Polaris are the leaders. In the other side, China suppliers such as Yogomo, Dojo and Shifeng have obvious large sales market share.

For the fierce competition between suppliers, price and gross margin is expected to decrease further. Global average price of Micro EVs is predicted to decline 4.06 thousand USD/Unit in the end of 2025, for the manufacturers, gross margin is about 15%~23%.

This report focuses on the Micro EVs in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

Market Segment by Manufacturers, this report covers
Yogomo, Shifeng, Textron, Dojo, Byvin, Polaris, Lichi, Baoya, Tangjun, Yamaha, Fulu, Xinyuzhou, GreenWheel EV, Incalu, Kandi, Renault, APACHE, Garia, Zheren, Ingersoll Rand, CitEcar Electric Vehicles, Eagle, Taiqi, KEYENCE, Hunan Firstrate Sensor.

Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers
Lead-acid Battery EVs
Lithium-ion Battery EVs

Market Segment by Applications, can be divided into
Personal Use
Commercial Use (Sightseeing, Golf etc.)
Public Utilities

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The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Micro EVs product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Micro EVs, with price, sales, revenue and global market share of Micro EVs in 2017 and 2018.
Chapter 3, the Micro EVs competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Micro EVs breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2014 to 2019.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2014 to 2019.
Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2014 to 2019.
Chapter 12, Micro EVs market forecast, by regions, type and application, with sales and revenue, from 2019 to 2024.
Chapter 13, 14 and 15, to describe Micro EVs sales channel, distributors, customers, research findings and conclusion, appendix and data source.

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