Low-Speed Vehicle Market, By Vehicle Type (Golf Carts, Neighborhood Electric Vehicles , Personal Mobility Vehicles, and Others), By Speed, By Application (Golf Courses, Residential Communities, Commercial Facilities , and Others), By Geography

Description

The global low-speed vehicle market is estimated to be valued at USD 11.01 Bn in 2024 and is expected to reach USD 19.67 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.6% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 11.01 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	8.60%	2031 Value Projection:	US$ 19.67 Bn

Figure. Low-Speed Vehicle Market Share (%), By Region, 2024

The global low-speed vehicle market has been growing steadily over the past few years. Low-speed vehicles are motor vehicles that have a maximum speed of usually around 25-30 mph. They are primarily used for commercial purposes such as golf courses, airports, resorts, and campuses to transport passengers within close premises. The growing demand for low maintenance and cost-effective transportation solutions along with supportive regulatory policies promoting the use of electric low-speed vehicles have been driving the growth of this market.

Market Dynamics:

The global low-speed vehicle market has been witnessing positive growth mainly due to factors such as growing environmental concerns leading to increasing adoption of eco-friendly electric low-speed vehicles. Also, supportive government policies and initiatives in various countries for promoting the use of electric vehicles through tax incentives and investments in charging infrastructure are creating new opportunities for market players. However, high manufacturing costs compared to conventional vehicles and limited driving range of electric low-speed vehicles continue to remain key challenges for widespread adoption. Additionally, lack of standardization and harmonization of policies related to low-speed electric vehicles across countries can hamper the market growth. Major players are focused on technological advancements such as developing low-cost and high-performance batteries to address limitations and further drive the demand.

Key Features of the Study:

This report provides in-depth analysis of the global low-speed vehicle market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global low-speed vehicle market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include American Custom Golf Cars, Inc., Club Car, E-Z-GO, Garia, Gem Car, Green Power Motor Company Inc., Harley-Davidson, Inc., Ingersoll Rand, LSV Inc., Polaris Industries Inc., Star EV, StreetScooter GmbH, Tennant Company, Toyota Motor Corporation, and Yamaha Golf-Car Company

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global low-speed vehicle market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global low-speed vehicle market

Detailed Segmentation-

By Vehicle Type Insights (Revenue, USD Bn, 2019 - 2031)
- Golf Carts
- Neighborhood Electric Vehicles (NEVs)
- Personal Mobility Vehicles
- Others (Utility Vehicles, Passenger Vehicles, etc.)
By Speed Insights (Revenue, USD Bn, 2019 - 2031)
- Less than 20 mph
- 20-25 mph
- Above 25 mph
By Application Insights (Revenue, USD Bn, 2019 - 2031)
- Golf Courses
- Residential Communities
- Commercial Facilities (Airports, Campuses, etc.)
- Others (Industrial, Tourism, etc.)
By Regional Insights (Revenue, USD Bn 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- American Custom Golf Cars, Inc.
- Club Car
- E-Z-GO
- Garia
- Gem Car
- Green Power Motor Company Inc.
- Harley-Davidson, Inc.
- Ingersoll Rand
- LSV Inc.
- Polaris Industries Inc.
- Star EV
- StreetScooter GmbH
- Tennant Company
- Toyota Motor Corporation
- Yamaha Golf-Car Company

Product Code: CMI7339

1. RESEARCH OBJECTIVES AND ASSUMPTIONS

Research Objectives
Assumptions
Abbreviations

2. MARKET PURVIEW

Report Description
- Market Definition and Scope
Executive Summary
- Global Low-Speed Vehicle Market, By Vehicle Type
- Global Low-Speed Vehicle Market, By Speed
- Global Low-Speed Vehicle Market, By Application
- Global Low-Speed Vehicle Market, By Region

3. MARKET DYNAMICS, REGULATIONS, AND TRENDS ANALYSIS

Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario

4. Global Low-Speed Vehicle Market, By Vehicle Type, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Golf Carts
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Neighborhood Electric Vehicles (NEVs)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Personal Mobility Vehicles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Others (Utility Vehicles, Passenger Vehicles, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

5. Global Low-Speed Vehicle Market, By Speed, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Less than 20 mph
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
20-25 mph
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Above 25 mph
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

6. Global Low-Speed Vehicle Market, By Application, 2024-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Golf Courses
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Residential Communities
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Commercial Facilities (Airports, Campuses, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Others (Industrial, Tourism, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

7. Global Low-Speed Vehicle Market, By Region, 2019 - 2031, Value (USD Bn)

Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2020 - 2031, Value (USD Bn)
- Regional Trends
North America
- Introduction
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Speed, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Speed, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Speed, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Speed, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - ASEAN
  - Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Speed, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Speed, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

8. COMPETITIVE LANDSCAPE

American Custom Golf Cars, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Club Car
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
E-Z-GO
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Garia
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Gem Car
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Green Power Motor Company Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Harley-Davidson, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Ingersoll Rand
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
LSV Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Polaris Industries Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Star EV
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
StreetScooter GmbH
Tennant Company
Toyota Motor Corporation
Yamaha Golf-Car Company

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. References and Research Methodology

References
Research Methodology
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