Global Low Speed Vehicle Market Report, Market Size, Share, Trends, Analysis and Forecast to 2028

Stratistics MRC's Global Low Speed Vehicle Market value is expected to reach $13.87 billion growing at a CAGR of 9.4% during 2023-2030.

Low-speed vehicles are four-wheeled vehicles with a maximum speed of 40 km/h and a minimum speed of 32 km/h, which is adequate for driving on the road. Meter maids, hunting, yard work, industrial utilities, grounds maintenance, and campus security all require low-speed vehicles. The vehicles are small and light, and they can hold up to 6 people. They also get great mileage, which contributes to the market for vehicles experiencing growth. These products are quickly gaining popularity among drivers who want to produce a small carbon footprint.
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Asia Pacific region is projected to hold the lucrative growth throughout the extrapolated period. China and Japan currently hold the primary market positions, mostly as a result of increased demand brought on by the expansion of golf courses, industrial facilities, and tourism. Demand has recently surged in other nations like Thailand, South Korea, and India. However, another expanding factor in Asia is the affection of golf, where 5,000 courses are predicted to be built by 2021 and numerous new clubs are anticipated. In recent years, there has also been a substantial increase in warehouses, IT hubs, and product production.
Some of the key players in Low Speed Vehicle market include American Landmaster, Bradshaw Electric Vehicles, Club Car, Deere & Company, Ingersoll-Rand plc, Kubota corp, Motor Electric Vehicles, Polaris Industries Inc, Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd, Taylor-Dunn, Textron Inc, The Toro Company, Tomberlin Automotive Group, Yamaha Golf-Car Company.
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