Europe Low-Speed Electric Vehicle Market Forecast to 2030 - Regional Analysis

Description

List of Tables

The Europe low-speed electric vehicle market was valued at US$ 1,065.68 million in 2022 and is expected to reach US$ 1,611.07 million by 2030; it is estimated to register a CAGR of 5.3% from 2022 to 2030.

Increasing Government Support for Electric Vehicles Fuels Europe Low-Speed Electric Vehicle Market

The transportation industry is one of the major contributors to air pollution. Governments of different countries focus on mitigating the carbon emission level to safeguard the environment from pollution. Among many initiatives to protect the environment, one key strategy is to boost the usage of electric vehicles that do not discharge harmful gases. The EU aims for at least 30 million electric cars to be on the road by 2030. The EU has set a number of goals in order to accomplish this goal, including Emissions Reduction: Between 2021 and 2030, the EU wants to cut the CO2 emissions from new cars by 55%. A number of EU governments are offering subsidies, tax benefits, and charger incentives to encourage the purchase of EVs. For instance, the current EV incentive in France offers a subsidy of between ~US$ 5400 and US$ 7,500 (based on household income) to private and business buyers for an electric vehicle that weighs less than 2.4 tons and costs up to ~US$ 50,500. In the UK, the government awarded EV grants such as EV charge point grants and infrastructure grants. Thus, the increasing government focus and support for boosting the usage of electric vehicles over fossil fuel-driven vehicles by enhancing the overall electric vehicle infrastructure is one of the major driving factors for the low-speed electric vehicle market.

Europe Low-Speed Electric Vehicle Market Overview

The European Union has taken significant steps to address carbon emissions in the automotive sector. In March 2023, new CO2 standards were adopted for cars and vans, mandating a 55% reduction in emissions for new cars and a 50% reduction for new vans by 2030 compared to 2021 levels, with a target of achieving 100% reduction for both by 2035. Additionally, the European Union introduced the Net Zero Industry Act, which aims to have nearly 90% of the EU's annual battery demand met by EU battery manufacturers. This includes achieving a manufacturing capacity of at least 550 GWh by 2030. While Europe accounts for over one-quarter of global EV production, it has limited involvement in the EV supply chain, with the exception of cobalt processing at 20%. Despite this, the well-established EV market in Europe, coupled with these ambitious regulatory initiatives, is driving the growth of the low-speed electric vehicle market in the region.

Europe Low-Speed Electric Vehicle Market Revenue and Forecast to 2030 (US$ Million)

Europe Low-Speed Electric Vehicle Market Segmentation

The Europe low-speed electric vehicle market is bifurcated based on product, end user, vehicle type, and country. Based on product, the Europe low-speed electric vehicle market is bifurcated into passenger vehicle and utility vehicle. The passenger vehicle segment held a larger market share in 2022.

In terms of end user, the Europe low-speed electric vehicle market is segmented into golf courses, hotels & resorts, airports, residential & commercial, premises, and others. The golf courses segment held the largest market share in 2022.

By vehicle type, the Europe low-speed electric vehicle market is segmented into golf carts, commercial turf utility vehicles, industrial utility vehicles, and personal mobility vehicles. The golf carts segment held the largest market share in 2022.

Based on country, the Europe low-speed electric vehicle market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. The UK dominated the Europe low-speed electric vehicle market share in 2022.

Navya SA, Nimos BV, Yamaha Motor Co Ltd, Anhui Airuite New Energy Special Purpose Vehicle Co Ltd, John Bradshaw Ltd, Xiamen Dalle Electric Car Co Ltd, Tomberlin, FLORA Wilh Foerster GmbH & Co KG, Renault SA, Deere & Co, Squad Mobility BV, Clean Motion AB, Citroen UK Ltd, Goupil Industrie SA, Lohr SA, Daedong-USA Inc KIOTI Tractor Division, Melex Sp zoo, KG Automobile SAS, My Electric Vehicle Ltd, Polaris Inc, Swincar SARL, EasyMile SAS, Lift Safe Ltd, Paxster AS, Estrima SpA, Italcar Industrial Srl, X RAAM SRL, and Columbia Vehicle Group Inc are some of the leading companies operating in the Europe low-speed electric vehicle market.

Product Code: BMIRE00030013

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Europe Low-Speed Electric Vehicles Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers/Component Suppliers:
- 4.3.2 Low-Speed Electric Vehicles Manufacturers:
- 4.3.3 End Users:

5. Europe Low-Speed Electric Vehicles Market - Key Industry Dynamics

5.1 Market Drivers
- 5.1.1 Growing Concerns Regarding Greenhouse Gas Emission
- 5.1.2 Increasing Government Support for Electric Vehicles
- 5.1.3 Rising Affordability of Electric Vehicles
- 5.1.4 Phasing Out of Internal Combustion Engines
5.2 Restraints
- 5.2.1 Operational Limitations of Battery-operated Electric Vehicles
- 5.2.2 High Initial Expenditure
5.3 Opportunities
- 5.3.1 Usage of Low-speed Electric Vehicles in Different Sectors
- 5.3.2 Increasing Job Opportunities in EV Manufacturing Facilities
5.4 Future Trends
- 5.4.1 Advent of Lithium-ion Phosphate and Sodium-ion Batteries for Electric Vehicles
5.5 Impact of Drivers and Restraints:

6. Low-Speed Electric Vehicles Market - Europe Market Analysis

6.1 Europe Low-Speed Electric Vehicles Market Revenue (US$ Million), 2022 - 2030
6.2 Europe Low-Speed Electric Vehicles Market Forecast and Analysis

7. Europe Low-Speed Electric Vehicles Market Analysis - Product

7.1 Overview
- 7.1.1 Low-Speed Electric Vehicles Market, by Product (2022 and 2030)
7.2 Passenger Vehicle
- 7.2.1 Overview
- 7.2.2 Passenger Vehicle Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Utility Vehicle
- 7.3.1 Overview
- 7.3.2 Utility Vehicle Market, Revenue and Forecast to 2030 (US$ Million)

8. Europe Low-Speed Electric Vehicles Market Analysis - End User

8.1 Overview
- 8.1.1 Low-Speed Electric Vehicles Market, by End User (2022 and 2030)
8.2 Golf Courses
- 8.2.1 Overview
- 8.2.2 Golf Courses Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Hotels & Resorts
- 8.3.1 Overview
- 8.3.2 Hotels & Resorts Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Airports
- 8.4.1 Overview
- 8.4.2 Airports Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Residential & Commercial Premises
- 8.5.1 Overview
- 8.5.2 Residential & Commercial Premises Market Revenue, and Forecast to 2030 (US$ Million)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others Market Revenue, and Forecast to 2030 (US$ Million)

9. Europe Low-Speed Electric Vehicles Market Analysis - Vehicle Type

9.1 Overview
- 9.1.1 Europe Low-Speed Electric Vehicles Market, by Vehicle Type (2022 and 2030)
9.2 Golf Carts
- 9.2.1 Overview
- 9.2.2 Golf Carts Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Commercial Turf Utility Vehicles
- 9.3.1 Overview
- 9.3.2 Commercial Turf Utility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Industrial Utility Vehicles
- 9.4.1 Overview
- 9.4.2 Industrial Utility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
9.5 Personal Mobility Vehicles
- 9.5.1 Overview
- 9.5.2 Personal Mobility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)

10. Europe Low-Speed Electric Vehicles Market - Country Analysis

10.1 Europe
- 10.1.1 Overview
- 10.1.2 Europe Low-Speed Electric Vehicles Market Revenue and Forecasts and Analysis - By Country
  - 10.1.2.1 Europe Low-Speed Electric Vehicles Market Revenue and Forecasts and Analysis - By Country
  - 10.1.2.2 Germany Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.1.2.2.1 Germany Low-Speed Electric Vehicles Market Breakdown by Product
    - 10.1.2.2.2 Germany Low-Speed Electric Vehicles Market Breakdown by End User
    - 10.1.2.2.3 Germany Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
  - 10.1.2.3 France Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.1.2.3.1 France Low-Speed Electric Vehicles Market Breakdown by Product
    - 10.1.2.3.2 France Low-Speed Electric Vehicles Market Breakdown by End User
    - 10.1.2.3.3 France Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
  - 10.1.2.4 Italy Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.1.2.4.1 Italy Low-Speed Electric Vehicles Market Breakdown by Product
    - 10.1.2.4.2 Italy Low-Speed Electric Vehicles Market Breakdown by End User
    - 10.1.2.4.3 Italy Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
  - 10.1.2.5 UK Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.1.2.5.1 UK Low-Speed Electric Vehicles Market Breakdown by Product
    - 10.1.2.5.2 UK Low-Speed Electric Vehicles Market Breakdown by End User
    - 10.1.2.5.3 UK Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
  - 10.1.2.6 Russia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.1.2.6.1 Russia Low-Speed Electric Vehicles Market Breakdown by Product
    - 10.1.2.6.2 Russia Low-Speed Electric Vehicles Market Breakdown by End User
    - 10.1.2.6.3 Russia Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
  - 10.1.2.7 Rest of Europe Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.1.2.7.1 Rest of Europe Low-Speed Electric Vehicles Market Breakdown by Product
    - 10.1.2.7.2 Rest of Europe Low-Speed Electric Vehicles Market Breakdown by End User
    - 10.1.2.7.3 Rest of Europe Low-Speed Electric Vehicles Market Breakdown by Vehicle Type

11. Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions

12. Company Profiles

12.1 Navya SA
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Nimos BV
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Yamaha Motor Co Ltd
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Anhui Airuite New Energy Special Purpose Vehicle Co Ltd
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 John Bradshaw Ltd
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Xiamen Dalle Electric Car Co Ltd
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Tomberlin
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 FLORA Wilh Foerster GmbH & Co KG
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Renault SA
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Deere & Co
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments
12.11 Squad Mobility BV
- 12.11.1 Key Facts
- 12.11.2 Business Description
- 12.11.3 Products and Services
- 12.11.4 Financial Overview
- 12.11.5 SWOT Analysis
- 12.11.6 Key Developments
12.12 Clean Motion AB
- 12.12.1 Key Facts
- 12.12.2 Business Description
- 12.12.3 Products and Services
- 12.12.4 Financial Overview
- 12.12.5 SWOT Analysis
- 12.12.6 Key Developments
12.13 Citroen UK Ltd
- 12.13.1 Key Facts
- 12.13.2 Business Description
- 12.13.3 Products and Services
- 12.13.4 Financial Overview
- 12.13.5 SWOT Analysis
- 12.13.6 Key Developments
12.14 Goupil Industrie SA
- 12.14.1 Key Facts
- 12.14.2 Business Description
- 12.14.3 Products and Services
- 12.14.4 Financial Overview
- 12.14.5 SWOT Analysis
- 12.14.6 Key Developments
12.15 Lohr SA
- 12.15.1 Key Facts
- 12.15.2 Business Description
- 12.15.3 Products and Services
- 12.15.4 Financial Overview
- 12.15.5 SWOT Analysis
- 12.15.6 Key Developments
12.16 Daedong-USA Inc KIOTI Tractor Division
- 12.16.1 Key Facts
- 12.16.2 Business Description
- 12.16.3 Products and Services
- 12.16.4 Financial Overview
- 12.16.5 SWOT Analysis
- 12.16.6 Key Developments
12.17 Melex Sp zoo
- 12.17.1 Key Facts
- 12.17.2 Business Description
- 12.17.3 Products and Services
- 12.17.4 Financial Overview
- 12.17.5 SWOT Analysis
- 12.17.6 Key Developments
12.18 KG Automobile SAS
- 12.18.1 Key Facts
- 12.18.2 Business Description
- 12.18.3 Products and Services
- 12.18.4 Financial Overview
- 12.18.5 SWOT Analysis
- 12.18.6 Key Developments
12.19 My Electric Vehicle Ltd
- 12.19.1 Key Facts
- 12.19.2 Business Description
- 12.19.3 Products and Services
- 12.19.4 Financial Overview
- 12.19.5 SWOT Analysis
- 12.19.6 Key Developments
12.20 Polaris Inc
- 12.20.1 Key Facts
- 12.20.2 Business Description
- 12.20.3 Products and Services
- 12.20.4 Financial Overview
- 12.20.5 SWOT Analysis
- 12.20.6 Key Developments
12.21 Swincar SARL
- 12.21.1 Key Facts
- 12.21.2 Business Description
- 12.21.3 Products and Services
- 12.21.4 Financial Overview
- 12.21.5 SWOT Analysis
- 12.21.6 Key Developments
12.22 EasyMile SAS
- 12.22.1 Key Facts
- 12.22.2 Business Description
- 12.22.3 Products and Services
- 12.22.4 Financial Overview
- 12.22.5 SWOT Analysis
- 12.22.6 Key Developments
12.23 Lift Safe Ltd
- 12.23.1 Key Facts
- 12.23.2 Business Description
- 12.23.3 Products and Services
- 12.23.4 Financial Overview
- 12.23.5 SWOT Analysis
- 12.23.6 Key Developments
12.24 Paxster AS
- 12.24.1 Key Facts
- 12.24.2 Business Description
- 12.24.3 Products and Services
- 12.24.4 Financial Overview
- 12.24.5 SWOT Analysis
- 12.24.6 Key Developments
12.25 Estrima SpA
- 12.25.1 Key Facts
- 12.25.2 Business Description
- 12.25.3 Products and Services
- 12.25.4 Financial Overview
- 12.25.5 SWOT Analysis
- 12.25.6 Key Developments
12.26 Italcar Industrial Srl
- 12.26.1 Key Facts
- 12.26.2 Business Description
- 12.26.3 Products and Services
- 12.26.4 Financial Overview
- 12.26.5 SWOT Analysis
- 12.26.6 Key Developments
12.27 X RAAM SRL
- 12.27.1 Key Facts
- 12.27.2 Business Description
- 12.27.3 Products and Services
- 12.27.4 Financial Overview
- 12.27.5 SWOT Analysis
- 12.27.6 Key Developments
12.28 Columbia Vehicle Group Inc
- 12.28.1 Key Facts
- 12.28.2 Business Description
- 12.28.3 Products and Services
- 12.28.4 Financial Overview
- 12.28.5 SWOT Analysis
- 12.28.6 Key Developments

13. Appendix

13.1 About The Insight Partners
13.2 Word Index