Press release
Electric Utility Vehicle Market is expected to grow at a CAGR of 5.1% during the forecast period, 2021 – 2026.
Electric Utility Vehicle Market
Electric utility vehicles are primarily an alternative for utility terrain vehicles that are powered with internal combustion engines. Utility vehicles find application in wineries, parks, floriculture, large estates, farms, logistics, recreational activities, and last-mile deliveries, among others. Electric utility vehicle technology assists in attaining the goal of reducing carbon emission by contributing towards minimizing the impact of global warming.
According to the United States Environmental Protection Agency (EPA), a typical passenger vehicle emits about 4.6 metric tons of carbon dioxide per year. Automobile manufacturers are relying on innovative technologies to reduce their carbon footprint and improve business efficiency and profitability. Transportation electrification presents greater opportunities for utilities to improve better customer engagement. Thus, rising focus of automobile manufacturers towards curbing growing carbon emissions is projected to drive the demand for electric utility vehicles during the forecast period.
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The Major Manufacturers Covered in this Report:
Addax Motors, Alke, Club Car (Ingersoll Rand Inc.), EsagonoGastone (ESAGONO ENERGIA S.R.L), E-Z-GO (Textron Specialized Vehicles Inc.), Garia Utility, GoupilIndustrie, Inc., Guangdong Lvtong, Ligier Group, Marshell Green Power, Melex Ltd., Polaris Industries, Inc., and Star EV (JH Global Services, Inc.). and more...
Years that have been considered for the study of this report are as follows:
History Year: 2015-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year: 2021 to 2026
Market Segmentation:
By Type of Battery
Acid Lead
Gel Lead
Lithium
Others
By Application
Logistics & Delivery
Public Sector
Recreation & Tourism
Agriculture
Others
Regional Segmentation:
North America (The US, Canada, and Mexico)
Europe (Germany, France, the UK, and Rest of the World)
Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
Latin America (Brazil and Rest of Latin America.)
Middle East & Africa (Saudi Arabia, the UAE, South Africa, and Rest of Middle East & Africa)
Regional Insights:
Geographically, the global automotive alloy wheel market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East and Africa (LAMEA).
North America is expected to witness dynamic growth in the electric utility vehicle market on account of the early adoption of technological advancements such as modernization of transportation with advancements and innovation targeting a fuel-efficient economy and the adoption of electric vehicles over conventional vehicles for greener transportation. For instance, the Northwestern University in Evanston, Illinois is on a mission to reduce greenhouse gas emissions by 30% till 2030 with the use of a fleet of 10 Polaris GEM electric vehicles to traverse the university campus.
The analysis objectives of the report are:
To equitably share in-depth info regarding the crucial elements impacting the increase of industry (growth capacity, chances, drivers and industry specific challenge and risks).
To know the Electric Utility Vehicle Market by pinpointing its many sub segments.
To profile the important players and analyze their growth plans.
To endeavor the amount and value of the Electric Utility Vehicle Market sub-markets, depending on key regions (various vital states).
To analyze the Global Electric Utility Vehicle Market concerning growth trends, prospects and also their participation in the entire sector.
To examine and study the Global Electric Utility Vehicle Market size (volume and value) form the company, essential regions/countries, products and applications, background information and also predictions.
Primary worldwide Global Electric Utility Vehicle Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis and development plans for the next coming years.
To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.
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