Press release
Global Low Speed Vehicle Market Report Is Expected To Grow At CAGR Of 3.2% In The Forecast Period Of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 3.6 Billion
Forecast CAGR (2021-2026): 3.2%
Forecast Market Size (2026): USD 4.4 Billion
The growing popularity of low-speed vehicles in gated communities, resorts, industrial areas, and university campuses is propelling the market forward. Growing demand for environmentally friendly automobiles, particularly on city streets for short commutes, is a major reason that is expected to boost the vehicle market in the forecast period. Furthermore, these vehicles can transport enough passengers, and their beneficial impact on on-road transportation is also likely to drive the vehicle market over the projection period.
Industry Definition and Major Segments
A low-speed vehicle is a four-wheeled motor vehicle that travels at 30 to 40 kilometers per hour and has a gross vehicle weight of up to 1,360 kg. These vehicles are largely battery-powered and emit very little pollution. With the growing need for environmentally friendly transportation solutions, these vehicles will undoubtedly propel the low-speed vehicle market ahead.
Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/low-speed-vehicle-market
Based on types, the market covers:
Heavy-Duty Vehicle
Off-Road Vehicle
Utility Vehicle
Passenger Vehicle
Based on end use, the market is categorised into:
Residential and Commercial Premises
Hotels and Resorts
Tourist Destinations
Golf Courses
Airports
The major regional markets include:
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Market Trends
Governments are enacting tight laws and regulations on car emissions, which is driving the worldwide low-speed vehicle industry. The rise in pollution, technical advancements, and the automotive sector, as well as the decline in fossil fuel stocks, are all contributing to the worldwide low-speed vehicle industry growth. Furthermore, advancements in ride-hailing and embedded mobility options are likely to boost the low-speed vehicle industry's predicted expansion.
Key Market Players
The major players in the market are Polaris Industries, Deere & Co, Kubota, Club Car/Ingersoll Rand, Textron Specialized Vehicles, Yamaha Motor, Kawasaki Motors, Ontario Drive & Gear Ltd, among others. The report covers the information on investments and mergers and acquisitions, among other latest developments of these market players.
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Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
EMR customises syndicated reports according to clients' requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
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