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Light Electric Vehicle Market - Raising Awareness among Consumers Key to Market Growth
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Some of the key driving factors of this market are increased environmental concerns, performance benefits, and reduced energy dependence. Most important advantage of light electric vehicle is that rechargeable batteries recycle well, thereby eliminating the disposal problem. Thus, light weight electric vehicle market is expected to compete with petroleum powered vehicles over the forecast period. However, fully discharged vehicle would require a long time to get charged completely, so it will be out of service for a long time. This limitation is expected to hinder the growth of light electric vehicle market.
Rapid industrialization and increasing fuel price concerns in developing economies of Asia Pacific are expected to drive the light weight electric vehicle market over the forecast period. Mature markets of U.S. and Europe continue to be key markets for light electric vehicle industry.
Some of the key players in this industry are Tesla, CODA, Fisker Karma, Nissan Leaf, Chevy Volt, Smart 4-2 EV, PSA Peugeot Citroën, Opel, Mini E, Prius EV, Mitsubishi iMiEV, and Focus EV among others.
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
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