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市場調查報告書
商品編碼
1587729

到 2030 年低速汽車市場預測：按類型、動力來源、輸出、電池類型、座椅數量、應用、最終用戶和地區進行的全球分析

Low-Speed Vehicle Market Forecasts to 2030 - Global Analysis By Type, Power Source, Power Output, Battery Type, Seating Capacity, Application, End User and By Geography
出版日期: | 出版商: Stratistics Market Research Consulting | 英文 200+ Pages | 商品交期: 2-3個工作天內

價格

根據Stratistics MRC的數據，2024年全球低速汽車市場規模為132.3億美元，預計2030年將達到248.8億美元，預測期內複合年成長率為11.1%。

低速車輛 (LSV) 市場是指汽車產業的一個細分市場，專注於設計以有限速度行駛的車輛，通常最高時速為 20-25 英里/小時（32-40 公里/小時）。這些車輛包括高爾夫球車、公共產業和個人移動解決方案，主要用於大都會環境中的短途出行。 LSV 通常由電力驅動，其環保特性滿足了對環保運輸方式日益成長的需求。

資料顯示，2021年我國電動摩托車銷量達5,337.5萬輛，較去年同期成長16.5%，而鋰電摩托車銷量達與前一年同期比較萬輛，與前一年同期比較去年同期成長22.6%，滲透率達17.4%。

都市化進程

全球最大城市的都市化是推動 LSV 市場的關鍵因素之一。 LSV描述了隨著城市變得越來越擁擠和堵塞，實用且有效的近距離交通選擇。 LSV 靈活且體積小，非常適合在擁擠地區和狹窄道路上行駛，同時也有助於改善空氣品質。此外，LSV 可以將貨物運送到最後一英里，從而消除對大型車輛的需求，並促進更永續的城市環境。

速度和範圍有限

有限的速度和範圍是市場的嚴重問題，影響使用和整體吸引力。大多數低速車輛都設計為在固定速度限制內行駛，通常設定為每小時 25 英里，這限制了它們在遠距旅行和高速公路上的使用。此外，如果您需要遠距旅行，您可能會發現電池的續航里程有限（通常一次充電可行駛 30 至 50 英里）。這些限制可能會讓重視簡單性和適應性的買家望而卻步，因此製造商會創新具有更好性能指標的模型，以提高用戶滿意度並擴大他們的市場範圍。

都市化與交通堵塞

交通擁擠和都市化對市場擴張有重大影響。不斷成長的城市和人口對傳統交通基礎設施的需求將導致通勤時間延長和交通堵塞加劇。專為短程運輸設計的低速車輛是穿越人口稠密城市的有效方式。它們體積小、速度慢，使其成為當地交通的理想選擇，尤其是在人口稠密的地區。此外，LSV 可以取代大型車輛，減少交通流量並促進環保的城市交通。低速車輛的發展趨勢與對環境永續城市交通解決方案日益成長的需求相吻合。

缺乏充電基礎設施

對於低速汽車（LSV），特別是電動車來說，充電基礎設施的缺乏是一個主要障礙。許多地區缺乏公共充電站，導致 LSV 車主很難為其車輛加油，尤其是那些無法使用家庭充電站的人。基礎設施的缺乏引起了 LSV 潛在購買者的一系列擔憂，並限制了 LSV 在遠距旅行和頻繁使用中的可用性。充電網路擴張緩慢，特別是在郊區和農村地區，進一步阻礙了 LSV 的普及。必須解決這個問題以促進市場成長和用戶信任。

COVID-19 的影響

COVID-19 的爆發對低速車輛 (LSV) 行業產生了各種影響。經濟不確定性、製造延誤和供應鏈中斷導致汽車銷售和產量暫時下降。然而，疫情增加了對安全、環保的個人交通工具的需求，LSV成為近距離出行的首選，以避免擁擠的公共運輸。隨著組織和企業使用 LSV 進行非接觸式交付和現場移動，它也推動了商業領域的需求。隨著經濟的擴張，環保交通的趨勢預計將支持市場的擴張和復甦。

預計高爾夫球車市場在預測期內將是最大的市場

由於高爾夫球車在高爾夫球場的應用，預計在預測期內將佔據最大的市場佔有率。然而，由於其適應性和效用，它也被用於許多其他情況。如今，高爾夫球車經常用於維護、個人交通，甚至在封閉的社區內。它們的低排放氣體、安靜運行和易用性使其成為尋求便捷、環保交通的人的首選。

預計個人消費領域在預測期內複合年成長率最高。

預計個人消費領域在預測期內將以最高的複合年成長率成長。人們對環境議題的認知不斷提高，促使人們使用電動 LSV 等環保交通方式。電動車運行成本低、價格實惠、適合住宅短途出行，作為日常交通工具頗具吸引力。這些車輛代表了滿足個人交通需求的有用、經濟且環保的解決方案。

比最大的地區

由於快速的都市化、日益嚴重的交通堵塞以及對減少碳排放的日益關注，預計亞太地區在預測期內將佔據最大的市場佔有率。該地區日益增強的環保意識和電動車推廣法規（例如購買電動車的補貼）鼓勵了 LSV 的使用。中國、日本和印度等國家的中產階級人口不斷成長、燃油價格上漲以及對經濟實惠且環保的短途交通的渴望進一步推動了 LSV 的需求。

複合年成長率最高的地區

由於環境意識的提高和政府法規促進電動車的採用，預計北美地區在預測期內將實現最高的複合年成長率。消費者正在尋找經濟且環保的短途旅行選擇，尤其是在住宅、高爾夫球場和商業地點。 LSV 的需求部分是由燃料價格上漲和降低排放氣體的需求所推動的。此外，電動車技術的進步和稅額扣抵等激勵措施使 LSV 對美國和加拿大的個人和企業越來越有吸引力。

免費客製化服務

訂閱此報告的客戶可以存取以下免費自訂選項之一：

  • 公司簡介
    • 其他市場參與企業的綜合分析（最多 3 家公司）
    • 主要企業SWOT分析（最多3家企業）
  • 區域分割
    • 根據客戶興趣對主要國家的市場估計/預測/複合年成長率（註：基於可行性檢查）
  • 競爭標基準化分析
    • 按產品系列、地理分佈和策略聯盟對主要企業基準化分析

根據Stratistics MRC的數據，2024年全球低速車輛市場規模為132.3億美元，預計2030年將達到248.8億美元，預測期內複合年成長率為11.1%。低速車輛 (LSV) 市場是指汽車產業中專注於限速行駛車輛的細分市場，最高時速通常為 20-25 英里/小時（32-40 公里/小時）。這些車輛包括高爾夫球車、公共產業和個人移動解決方案，主要用於大都會環境中的短途出行。 LSV 通常由電力驅動，其環保特性滿足了人們對環保運輸方式日益成長的需求。

資料顯示，2021年我國電動摩托車銷量達5,337.5萬輛，較去年同期成長16.5%，而鋰電摩托車銷量達與前一年同期比較萬輛，與前一年同期比較去年同期成長22.6%，滲透率達17.4%。

都市化進程

全球最大城市的都市化是推動 LSV 市場的關鍵因素之一。 LSV描述了隨著城市變得越來越擁擠和堵塞，實用且有效的近距離交通選擇。 LSV 靈活且體積小，非常適合在擁擠地區和狹窄道路上行駛，同時也有助於改善空氣品質。此外，LSV 可以將貨物運送到最後一英里，從而消除對大型車輛的需求，並促進更永續的城市環境。

速度和範圍有限

有限的速度和範圍是市場的嚴重問題，影響使用和整體吸引力。大多數低速車輛都設計為在固定速度限制內行駛，通常設定為每小時 25 英里，這限制了它們在遠距旅行和高速公路上的使用。此外，如果您需要遠距旅行，您可能會發現電池的續航里程有限（通常一次充電可行駛 30 至 50 英里）。這些限制可能會讓重視簡單性和適應性的買家望而卻步，因此製造商會創新具有更好性能指標的模型，以提高用戶滿意度並擴大他們的市場範圍。

都市化與交通堵塞

交通擁擠和都市化對市場擴張有重大影響。不斷成長的城市和人口對傳統交通基礎設施的需求將導致通勤時間延長和交通堵塞加劇。專為短程運輸設計的低速車輛是穿越人口稠密城市的有效方式。它們體積小、速度慢，使其成為當地交通的理想選擇，尤其是在人口稠密的地區。此外，LSV 可以取代大型車輛，減少交通流量並促進環保的城市交通。低速車輛的發展趨勢與對環境永續城市交通解決方案日益成長的需求相吻合。

缺乏充電基礎設施

對於低速汽車（LSV），特別是電動車來說，充電基礎設施的缺乏是一個主要障礙。許多地區缺乏公共充電站，導致 LSV 車主很難為其車輛加油，尤其是那些無法使用家庭充電站的人。基礎設施的缺乏引起了潛在 LSV 購買者的一系列擔憂，並限制了 LSV 在遠距旅行和頻繁使用中的可用性。充電網路擴張緩慢，特別是在郊區和農村地區，進一步阻礙了 LSV 的普及。必須解決這個問題以促進市場成長和用戶信任。

COVID-19 的影響

COVID-19 的爆發對低速車輛 (LSV) 行業產生了各種影響。經濟不確定性、製造延誤和供應鏈中斷導致汽車銷售和產量暫時下降。然而，疫情增加了對安全、環保的個人交通工具的需求，LSV成為近距離出行的首選，以避免擁擠的公共運輸。隨著組織和企業使用 LSV 進行非接觸式交付和現場移動，它也推動了商業領域的需求。隨著經濟的擴張，環保交通的趨勢預計將支持市場的擴張和復甦。

預計高爾夫球車市場在預測期內將是最大的市場

由於高爾夫球車在高爾夫球場的應用，預計在預測期內將佔據最大的市場佔有率。然而，由於其適應性和效用，它也被用於許多其他情況。如今，高爾夫球車經常用於維護、個人交通，甚至在封閉的社區內。它們的低排放氣體、安靜和易用性使其成為尋求便利、環保交通的人的首選。

預計個人消費領域在預測期內複合年成長率最高。

預計個人消費領域在預測期內將以最高的複合年成長率成長。人們對環境問題的認知不斷提高，促使人們使用電動 LSV 等環保交通工具。電動車運行成本低、價格實惠、適合住宅短途出行，作為日常交通工具頗具吸引力。這些車輛代表了滿足個人交通需求的有用、經濟且環保的解決方案。

比最大的地區

由於快速的都市化、日益嚴重的交通堵塞以及對減少碳排放的日益關注，預計亞太地區在預測期內將佔據最大的市場佔有率。該地區日益增強的環保意識和電動車推廣法規（例如購買電動車的補貼）鼓勵了 LSV 的使用。中國、日本和印度等國家的中產階級人口不斷成長、燃油價格上漲以及對經濟實惠且環保的短途交通的渴望進一步推動了 LSV 的需求。

複合年成長率最高的地區

由於環境意識的提高和政府法規促進電動車的採用，預計北美地區在預測期內將實現最高的複合年成長率。消費者正在尋找經濟且環保的短途旅行選擇，尤其是在住宅、高爾夫球場和企業。 LSV 的需求部分是由燃料價格上漲和降低排放氣體的需求所推動的。此外，電動車技術的進步和稅額扣抵等激勵措施使 LSV 對美國和加拿大的個人和企業越來越有吸引力。

免費客製化服務

訂閱此報告的客戶可以存取以下免費自訂選項之一：

  • 公司簡介
    • 其他市場參與企業的綜合分析（最多 3 家公司）
    • 主要企業SWOT分析（最多3家企業）
  • 區域分割
    • 根據客戶興趣對主要國家的市場估計/預測/複合年成長率（註：基於可行性檢查）
  • 競爭標基準化分析
    • 按產品系列、地理分佈和策略聯盟對主要企業基準化分析

目錄

第1章執行摘要

第2章 前言

  • 概述
  • 相關利益者
  • 調查範圍
  • 調查方法
    • 資料探勘
    • 資料分析
    • 資料檢驗
    • 研究途徑
  • 研究資訊來源
    • 主要研究資訊來源
    • 二次研究資訊來源
    • 先決條件

第3章市場趨勢分析

  • 介紹
  • 促進因素
  • 抑制因素
  • 機會
  • 威脅
  • 應用分析
  • 最終用戶分析
  • 新興市場
  • COVID-19 的影響

第4章波特五力分析

  • 供應商的議價能力
  • 買方議價能力
  • 替代品的威脅
  • 新進入者的威脅
  • 競爭公司之間的敵對關係

第5章 全球低速汽車市場：依類型

  • 介紹
  • 鄰裡電動車 (NEV)
  • 高爾夫球車
  • 公共產業車輛
    • 商用草坪公共產業車
    • 工業公共產業車
  • 電動自行車（E-bike）
  • 其他

第6章 全球低速汽車市場：依動力來源分類

  • 介紹
  • 電
  • 汽油
  • 柴油引擎

第7章 全球低速汽車市場：按功率輸出

  • 介紹
  • 8kW以下
  • 8～15kW
  • 15kW以上

第8章全球低速汽車市場：依電池類型

  • 介紹
  • 鋰離子電池
  • 鉛酸電池

第9章 全球低速汽車市場：依座位數分類

  • 介紹
  • 1人
  • 2人
  • 多個名字

第10章 全球低速汽車市場：依應用分類

  • 介紹
  • 個人交通
  • 商業的
  • 休閒
  • 工業設施
  • 高爾夫球場
  • 飯店及度假村
  • 其他

第11章全球低速汽車市場：依最終用戶分類

  • 介紹
  • 個人消費者
  • 公司
  • 政府和地方政府
  • 其他

第12章 全球低速汽車市場：按地區分類

  • 介紹
  • 北美洲
    • 美國
    • 加拿大
    • 墨西哥
  • 歐洲
    • 德國
    • 英國
    • 義大利
    • 法國
    • 西班牙
    • 歐洲其他地區
  • 亞太地區
    • 日本
    • 中國
    • 印度
    • 澳洲
    • 紐西蘭
    • 韓國
    • 其他亞太地區
  • 南美洲
    • 阿根廷
    • 巴西
    • 智利
    • 南美洲其他地區
  • 中東/非洲
    • 沙烏地阿拉伯
    • 阿拉伯聯合大公國
    • 卡達
    • 南非
    • 其他中東/非洲

第13章 主要發展

  • 合約、夥伴關係、合作和合資企業
  • 收購和合併
  • 新產品發布
  • 業務拓展
  • 其他關鍵策略

第14章 公司概況

  • Club Car
  • Yamaha Golf-Car Company
  • Polaris Industries Inc.
  • Textron Specialized Vehicles Inc.
  • Bradshaw Electric Vehicles
  • Garia
  • American Custom Golf Cars
  • JH Global Services, Inc.
  • Tomberlin
  • Cushman
  • Eco Battery
  • Invacare Corporation
  • EZ-GO Express
  • Green Power Motor Company Inc.
Product Code: SMRC27723

According to Stratistics MRC, the Global Low-Speed Vehicle Market is accounted for $13.23 billion in 2024 and is expected to reach $24.88 billion by 2030 growing at a CAGR of 11.1% during the forecast period. The low-speed vehicle (LSV) market refers to the segment of the automotive industry focused on vehicles designed for limited-speed travel, typically reaching a maximum speed of 20 to 25 miles per hour (32 to 40 km/h). These vehicles, which include golf carts, commercial utility vehicles, and personal mobility solutions, are mostly utilized for short-distance transportation in metropolitan settings. The eco-friendly characteristics of LSVs, which are frequently electric-powered, correspond with the rising demand for environmentally beneficial modes of transportation.

According to data, the sales volume of electrical two-wheelers in China in 2021 reached 53.375 million units, up 16.5% year on year, and therefore the sales volume of lithium two-wheelers reached 9.287 million units, up 22.6% year on year, with a penetration rate of 17.4%.

Market Dynamics:

Driver:

Increased urbanization

The global metropolis urbanization is one of the main factors propelling the LSV market. LSVs provide a practical and effective short-distance transportation option as cities get increasingly crowded and congested. They are ideal for negotiating congested regions and small streets because to their agility and reduced size, which also helps to improve the quality of the air. Furthermore, LSVs can deliver goods the last mile, which eliminates the need for larger vehicles and promotes a more sustainable urban environment.

Restraint:

Limited speed and range

Limited speed and range pose serious problems for the market, affecting their usage and overall appeal. Their use is limited for longer journeys or on higher-speed roads because the majority of low-speed vehicles are made to run within certain speed limits, usually set at 25 mph. Additionally, those needing longer travel distances might find the battery's limited range-typically between 30 and 50 miles on a single charge. These restrictions have the potential to turn off purchasers who value simplicity and adaptability, which encourages manufacturers to innovate and create models with better performance metrics in order to increase user happiness and broaden their market reach.

Opportunity:

Urbanization and traffic congestion

Traffic congestion and urbanization have an enormous effect on market expansion. Longer commutes and more traffic jams result from the demand on traditional transportation infrastructure caused by growing cities and populations. Designed for short-distance transport, low-speed vehicles provide an efficient means to get through densely populated cities. They are perfect for local travel because of their small size and slow pace, especially in places with a high population density. Additionally, by offering a substitute for larger cars, LSVs help to lessen traffic and encourage more environmentally friendly urban mobility. The trend toward low-speed vehicles is in line with the growing need for environmentally sustainable city transit solutions.

Threat:

Insufficient charging infrastructure

Insufficient charging infrastructure is a significant barrier in the low-speed vehicle (LSV), particularly for electric models. The scarcity of public charging stations in many areas makes it challenging for LSV owners to refuel their vehicles, particularly for those without access to home charging stations. Range anxiety among potential purchasers arises from this lack of infrastructure, which limits the usability of LSVs over longer trips and more frequent usage. Further impeding the wider use of LSVs is the sluggish expansion of charging networks, especially in suburban and rural locations. To promote growth and user confidence in the market, this issue must be addressed.

Covid-19 Impact

The COVID-19 epidemic impacted the low-speed vehicle (LSV) sector in a various manners. Economic uncertainty, manufacturing delays, and supply chain disruptions caused a brief drop in vehicle sales and production. However, the pandemic increased demand for safe and environmentally friendly personal transportation choices, and LSVs became a well-liked option for short-distance travel to avoid congested public transportation. Demand in the commercial sector was also fuelled by the use of LSVs by organizations and corporations for contactless delivery and on-site mobility. The trend toward environmentally friendly transportation is anticipated to bolster the market's expansion and recovery as economies expand.

The golf carts segment is expected to be the largest during the forecast period

The golf carts segment is projected to account for the largest market share during the projection period, due to their application on golf courses. However due to their adaptability and usefulness, they have been used in a number of other settings. These days, golf carts are frequently utilized for maintenance, personal transportation, and even as a means of mobility inside gated communities. They are a desirable choice for people looking for a convenient and environmentally friendly mode of transportation because of their minimal emissions, silent operation, and ease of use.

The individual consumers segment is expected to have the highest CAGR during the forecast period

During the projection period, the individual consumers segment is expected to grow at the highest CAGR. Growing environmental concerns are encouraging individuals to use eco-friendly modes of transportation, such as electric LSVs. They are attractive for daily transportation due to their cheap running costs, affordability, and adaptability for short-distance travel in residential areas. These vehicles offer a useful, economical, and environmentally conscious solution to individual transportation requirements.

Region with largest share:

During the estimation period, the Asia Pacific region is expected to capture the largest market share, due to rapid urbanization, worsening traffic, and a rising focus on cutting carbon emissions. The use of LSVs is being promoted by the region's growing environmental consciousness and pro-EV regulations, such as subsidies for the purchase of electric vehicles. Further driving demand for LSVs in nations like China, Japan, and India are growing middle-class populations, rising fuel prices, and the desire for affordable, environmentally friendly transportation for short journeys.

Region with highest CAGR:

The North America region is projected to achieve the highest CAGR during the forecast period, owing to increasing environmental awareness and government regulations promoting electric vehicle adoption. Consumers seek economical and environmentally beneficial options for short-distance travel, especially in residential neighborhoods, golf courses, and business establishments. The demand for LSVs is partly fuelled by rising fuel prices and a need for lower emissions. Furthermore, LSVs are becoming more and more attractive to people and companies in the US and Canada due to developments in electric vehicle technology and incentives like tax credits.

Key players in the market

Some of the key players profiled in the Low-Speed Vehicle Market include Club Car, Yamaha Golf-Car Company, Polaris Industries Inc., Textron Specialized Vehicles Inc., Bradshaw Electric Vehicles, Garia, American Custom Golf Cars, JH Global Services, Inc., Tomberlin, Cushman, Eco Battery, Invacare Corporation, EZ-GO Express, and Green Power Motor Company Inc.

Key Developments:

In August 2024, Club Car announced the launch of its new electric golf cart model, featuring enhanced battery technology for longer range and improved performance on golf courses.

In March 2024, Polaris Industries Inc. unveiled the GEM e2, a compact electric vehicle designed for neighborhood transportation, focusing on sustainability and ease of use in urban areas.

In January 2024, Textron Specialized Vehicles announced the development of the new Cushman Hauler, an electric utility vehicle tailored for industrial applications with enhanced cargo capacity.

In November 2023, Yamaha Golf-Car Company launched its latest golf cart model with advanced safety features and customizable options for enhanced user experience.

Types Covered:

  • Neighborhood Electric Vehicles (NEVs)
  • Golf Carts
  • Utility Vehicles
  • Electric Bicycles (E-bikes)
  • Other Types

Power Sources Covered:

  • Electric
  • Gasoline
  • Diesel

Power Outputs Covered:

  • <8 kW
  • 8-15 kW
  • >15 kW

Battery Types Covered:

  • Li-Ion Battery
  • Lead Acid Battery

Seating Capacities Covered:

  • Single-Seater
  • Two-Seater
  • Multi-Seater

Applications Covered:

  • Personal Transportation
  • Commercial
  • Recreational
  • Industrial Facilities
  • Golf Courses
  • Hotels & Resorts
  • Other Applications

End Users Covered:

  • Individual Consumers
  • Businesses
  • Government and Municipalities
  • Other End Users

Regions Covered:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • Italy
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • New Zealand
    • South Korea
    • Rest of Asia Pacific
  • South America
    • Argentina
    • Brazil
    • Chile
    • Rest of South America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

What our report offers:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
  • Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

  • Company Profiling
    • Comprehensive profiling of additional market players (up to 3)
    • SWOT Analysis of key players (up to 3)
  • Regional Segmentation
    • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
  • Competitive Benchmarking
    • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

According to Stratistics MRC, the Global Low-Speed Vehicle Market is accounted for $13.23 billion in 2024 and is expected to reach $24.88 billion by 2030 growing at a CAGR of 11.1% during the forecast period. The low-speed vehicle (LSV) market refers to the segment of the automotive industry focused on vehicles designed for limited-speed travel, typically reaching a maximum speed of 20 to 25 miles per hour (32 to 40 km/h). These vehicles, which include golf carts, commercial utility vehicles, and personal mobility solutions, are mostly utilized for short-distance transportation in metropolitan settings. The eco-friendly characteristics of LSVs, which are frequently electric-powered, correspond with the rising demand for environmentally beneficial modes of transportation.

According to data, the sales volume of electrical two-wheelers in China in 2021 reached 53.375 million units, up 16.5% year on year, and therefore the sales volume of lithium two-wheelers reached 9.287 million units, up 22.6% year on year, with a penetration rate of 17.4%.

Market Dynamics:

Driver:

Increased urbanization

The global metropolis urbanization is one of the main factors propelling the LSV market. LSVs provide a practical and effective short-distance transportation option as cities get increasingly crowded and congested. They are ideal for negotiating congested regions and small streets because to their agility and reduced size, which also helps to improve the quality of the air. Furthermore, LSVs can deliver goods the last mile, which eliminates the need for larger vehicles and promotes a more sustainable urban environment.

Restraint:

Limited speed and range

Limited speed and range pose serious problems for the market, affecting their usage and overall appeal. Their use is limited for longer journeys or on higher-speed roads because the majority of low-speed vehicles are made to run within certain speed limits, usually set at 25 mph. Additionally, those needing longer travel distances might find the battery's limited range-typically between 30 and 50 miles on a single charge. These restrictions have the potential to turn off purchasers who value simplicity and adaptability, which encourages manufacturers to innovate and create models with better performance metrics in order to increase user happiness and broaden their market reach.

Opportunity:

Urbanization and traffic congestion

Traffic congestion and urbanization have an enormous effect on market expansion. Longer commutes and more traffic jams result from the demand on traditional transportation infrastructure caused by growing cities and populations. Designed for short-distance transport, low-speed vehicles provide an efficient means to get through densely populated cities. They are perfect for local travel because of their small size and slow pace, especially in places with a high population density. Additionally, by offering a substitute for larger cars, LSVs help to lessen traffic and encourage more environmentally friendly urban mobility. The trend toward low-speed vehicles is in line with the growing need for environmentally sustainable city transit solutions.

Threat:

Insufficient charging infrastructure

Insufficient charging infrastructure is a significant barrier in the low-speed vehicle (LSV), particularly for electric models. The scarcity of public charging stations in many areas makes it challenging for LSV owners to refuel their vehicles, particularly for those without access to home charging stations. Range anxiety among potential purchasers arises from this lack of infrastructure, which limits the usability of LSVs over longer trips and more frequent usage. Further impeding the wider use of LSVs is the sluggish expansion of charging networks, especially in suburban and rural locations. To promote growth and user confidence in the market, this issue must be addressed.

Covid-19 Impact

The COVID-19 epidemic impacted the low-speed vehicle (LSV) sector in a various manners. Economic uncertainty, manufacturing delays, and supply chain disruptions caused a brief drop in vehicle sales and production. However, the pandemic increased demand for safe and environmentally friendly personal transportation choices, and LSVs became a well-liked option for short-distance travel to avoid congested public transportation. Demand in the commercial sector was also fuelled by the use of LSVs by organizations and corporations for contactless delivery and on-site mobility. The trend toward environmentally friendly transportation is anticipated to bolster the market's expansion and recovery as economies expand.

The golf carts segment is expected to be the largest during the forecast period

The golf carts segment is projected to account for the largest market share during the projection period, due to their application on golf courses. However due to their adaptability and usefulness, they have been used in a number of other settings. These days, golf carts are frequently utilized for maintenance, personal transportation, and even as a means of mobility inside gated communities. They are a desirable choice for people looking for a convenient and environmentally friendly mode of transportation because of their minimal emissions, silent operation, and ease of use.

The individual consumers segment is expected to have the highest CAGR during the forecast period

During the projection period, the individual consumers segment is expected to grow at the highest CAGR. Growing environmental concerns are encouraging individuals to use eco-friendly modes of transportation, such as electric LSVs. They are attractive for daily transportation due to their cheap running costs, affordability, and adaptability for short-distance travel in residential areas. These vehicles offer a useful, economical, and environmentally conscious solution to individual transportation requirements.

Region with largest share:

During the estimation period, the Asia Pacific region is expected to capture the largest market share, due to rapid urbanization, worsening traffic, and a rising focus on cutting carbon emissions. The use of LSVs is being promoted by the region's growing environmental consciousness and pro-EV regulations, such as subsidies for the purchase of electric vehicles. Further driving demand for LSVs in nations like China, Japan, and India are growing middle-class populations, rising fuel prices, and the desire for affordable, environmentally friendly transportation for short journeys.

Region with highest CAGR:

The North America region is projected to achieve the highest CAGR during the forecast period, owing to increasing environmental awareness and government regulations promoting electric vehicle adoption. Consumers seek economical and environmentally beneficial options for short-distance travel, especially in residential neighborhoods, golf courses, and business establishments. The demand for LSVs is partly fuelled by rising fuel prices and a need for lower emissions. Furthermore, LSVs are becoming more and more attractive to people and companies in the US and Canada due to developments in electric vehicle technology and incentives like tax credits.

Key players in the market

Some of the key players profiled in the Low-Speed Vehicle Market include Club Car, Yamaha Golf-Car Company, Polaris Industries Inc., Textron Specialized Vehicles Inc., Bradshaw Electric Vehicles, Garia, American Custom Golf Cars, JH Global Services, Inc., Tomberlin, Cushman, Eco Battery, Invacare Corporation, EZ-GO Express, and Green Power Motor Company Inc.

Key Developments:

In August 2024, Club Car announced the launch of its new electric golf cart model, featuring enhanced battery technology for longer range and improved performance on golf courses.

In March 2024, Polaris Industries Inc. unveiled the GEM e2, a compact electric vehicle designed for neighborhood transportation, focusing on sustainability and ease of use in urban areas.

In January 2024, Textron Specialized Vehicles announced the development of the new Cushman Hauler, an electric utility vehicle tailored for industrial applications with enhanced cargo capacity.

In November 2023, Yamaha Golf-Car Company launched its latest golf cart model with advanced safety features and customizable options for enhanced user experience.

Types Covered:

  • Neighborhood Electric Vehicles (NEVs)
  • Golf Carts
  • Utility Vehicles
  • Electric Bicycles (E-bikes)
  • Other Types

Power Sources Covered:

  • Electric
  • Gasoline
  • Diesel

Power Outputs Covered:

  • <8 kW
  • 8-15 kW
  • >15 kW

Battery Types Covered:

  • Li-Ion Battery
  • Lead Acid Battery

Seating Capacities Covered:

  • Single-Seater
  • Two-Seater
  • Multi-Seater

Applications Covered:

  • Personal Transportation
  • Commercial
  • Recreational
  • Industrial Facilities
  • Golf Courses
  • Hotels & Resorts
  • Other Applications

End Users Covered:

  • Individual Consumers
  • Businesses
  • Government and Municipalities
  • Other End Users

Regions Covered:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • Italy
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • New Zealand
    • South Korea
    • Rest of Asia Pacific
  • South America
    • Argentina
    • Brazil
    • Chile
    • Rest of South America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

What our report offers:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
  • Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

  • Company Profiling
    • Comprehensive profiling of additional market players (up to 3)
    • SWOT Analysis of key players (up to 3)
  • Regional Segmentation
    • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
  • Competitive Benchmarking
    • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

  • 2.1 Abstract
  • 2.2 Stake Holders
  • 2.3 Research Scope
  • 2.4 Research Methodology
    • 2.4.1 Data Mining
    • 2.4.2 Data Analysis
    • 2.4.3 Data Validation
    • 2.4.4 Research Approach
  • 2.5 Research Sources
    • 2.5.1 Primary Research Sources
    • 2.5.2 Secondary Research Sources
    • 2.5.3 Assumptions

3 Market Trend Analysis

  • 3.1 Introduction
  • 3.2 Drivers
  • 3.3 Restraints
  • 3.4 Opportunities
  • 3.5 Threats
  • 3.6 Application Analysis
  • 3.7 End User Analysis
  • 3.8 Emerging Markets
  • 3.9 Impact of Covid-19

4 Porters Five Force Analysis

  • 4.1 Bargaining power of suppliers
  • 4.2 Bargaining power of buyers
  • 4.3 Threat of substitutes
  • 4.4 Threat of new entrants
  • 4.5 Competitive rivalry

5 Global Low-Speed Vehicle Market, By Type

  • 5.1 Introduction
  • 5.2 Neighborhood Electric Vehicles (NEVs)
  • 5.3 Golf Carts
  • 5.4 Utility Vehicles
    • 5.4.1 Commercial Turf Utility Vehicles
    • 5.4.2 Industrial Utility Vehicles
  • 5.5 Electric Bicycles (E-bikes)
  • 5.6 Other Types

6 Global Low-Speed Vehicle Market, By Power Source

  • 6.1 Introduction
  • 6.2 Electric
  • 6.3 Gasoline
  • 6.4 Diesel

7 Global Low-Speed Vehicle Market, By Power Output

  • 7.1 Introduction
  • 7.2 <8 kW
  • 7.3 8-15 kW
  • 7.4 >15 kW

8 Global Low-Speed Vehicle Market, By Battery Type

  • 8.1 Introduction
  • 8.2 Li-Ion Battery
  • 8.3 Lead Acid Battery

9 Global Low-Speed Vehicle Market, By Seating Capacity

  • 9.1 Introduction
  • 9.2 Single-Seater
  • 9.3 Two-Seater
  • 9.4 Multi-Seater

10 Global Low-Speed Vehicle Market, By Application

  • 10.1 Introduction
  • 10.2 Personal Transportation
  • 10.3 Commercial
  • 10.4 Recreational
  • 10.5 Industrial Facilities
  • 10.6 Golf Courses
  • 10.7 Hotels & Resorts
  • 10.8 Other Applications

11 Global Low-Speed Vehicle Market, By End User

  • 11.1 Introduction
  • 11.2 Individual Consumers
  • 11.3 Businesses
  • 11.4 Government and Municipalities
  • 11.5 Other End Users

12 Global Low-Speed Vehicle Market, By Geography

  • 12.1 Introduction
  • 12.2 North America
    • 12.2.1 US
    • 12.2.2 Canada
    • 12.2.3 Mexico
  • 12.3 Europe
    • 12.3.1 Germany
    • 12.3.2 UK
    • 12.3.3 Italy
    • 12.3.4 France
    • 12.3.5 Spain
    • 12.3.6 Rest of Europe
  • 12.4 Asia Pacific
    • 12.4.1 Japan
    • 12.4.2 China
    • 12.4.3 India
    • 12.4.4 Australia
    • 12.4.5 New Zealand
    • 12.4.6 South Korea
    • 12.4.7 Rest of Asia Pacific
  • 12.5 South America
    • 12.5.1 Argentina
    • 12.5.2 Brazil
    • 12.5.3 Chile
    • 12.5.4 Rest of South America
  • 12.6 Middle East & Africa
    • 12.6.1 Saudi Arabia
    • 12.6.2 UAE
    • 12.6.3 Qatar
    • 12.6.4 South Africa
    • 12.6.5 Rest of Middle East & Africa

13 Key Developments

  • 13.1 Agreements, Partnerships, Collaborations and Joint Ventures
  • 13.2 Acquisitions & Mergers
  • 13.3 New Product Launch
  • 13.4 Expansions
  • 13.5 Other Key Strategies

14 Company Profiling

  • 14.1 Club Car
  • 14.2 Yamaha Golf-Car Company
  • 14.3 Polaris Industries Inc.
  • 14.4 Textron Specialized Vehicles Inc.
  • 14.5 Bradshaw Electric Vehicles
  • 14.6 Garia
  • 14.7 American Custom Golf Cars
  • 14.8 JH Global Services, Inc.
  • 14.9 Tomberlin
  • 14.10 Cushman
  • 14.11 Eco Battery
  • 14.12 Invacare Corporation
  • 14.13 EZ-GO Express
  • 14.14 Green Power Motor Company Inc.

List of Tables

  • Table 1 Global Low-Speed Vehicle Market Outlook, By Region (2022-2030) ($MN)
  • Table 2 Global Low-Speed Vehicle Market Outlook, By Type (2022-2030) ($MN)
  • Table 3 Global Low-Speed Vehicle Market Outlook, By Neighborhood Electric Vehicles (NEVs) (2022-2030) ($MN)
  • Table 4 Global Low-Speed Vehicle Market Outlook, By Golf Carts (2022-2030) ($MN)
  • Table 5 Global Low-Speed Vehicle Market Outlook, By Utility Vehicles (2022-2030) ($MN)
  • Table 6 Global Low-Speed Vehicle Market Outlook, By Commercial Turf Utility Vehicles (2022-2030) ($MN)
  • Table 7 Global Low-Speed Vehicle Market Outlook, By Industrial Utility Vehicles (2022-2030) ($MN)
  • Table 8 Global Low-Speed Vehicle Market Outlook, By Electric Bicycles (E-bikes) (2022-2030) ($MN)
  • Table 9 Global Low-Speed Vehicle Market Outlook, By Other Types (2022-2030) ($MN)
  • Table 10 Global Low-Speed Vehicle Market Outlook, By Power Source (2022-2030) ($MN)
  • Table 11 Global Low-Speed Vehicle Market Outlook, By Electric (2022-2030) ($MN)
  • Table 12 Global Low-Speed Vehicle Market Outlook, By Gasoline (2022-2030) ($MN)
  • Table 13 Global Low-Speed Vehicle Market Outlook, By Diesel (2022-2030) ($MN)
  • Table 14 Global Low-Speed Vehicle Market Outlook, By Power Output (2022-2030) ($MN)
  • Table 15 Global Low-Speed Vehicle Market Outlook, By <8 kW (2022-2030) ($MN)
  • Table 16 Global Low-Speed Vehicle Market Outlook, By 8-15 kW (2022-2030) ($MN)
  • Table 17 Global Low-Speed Vehicle Market Outlook, By >15 kW (2022-2030) ($MN)
  • Table 18 Global Low-Speed Vehicle Market Outlook, By Battery Type (2022-2030) ($MN)
  • Table 19 Global Low-Speed Vehicle Market Outlook, By Li-Ion Battery (2022-2030) ($MN)
  • Table 20 Global Low-Speed Vehicle Market Outlook, By Lead Acid Battery (2022-2030) ($MN)
  • Table 21 Global Low-Speed Vehicle Market Outlook, By Seating Capacity (2022-2030) ($MN)
  • Table 22 Global Low-Speed Vehicle Market Outlook, By Single-Seater (2022-2030) ($MN)
  • Table 23 Global Low-Speed Vehicle Market Outlook, By Two-Seater (2022-2030) ($MN)
  • Table 24 Global Low-Speed Vehicle Market Outlook, By Multi-Seater (2022-2030) ($MN)
  • Table 25 Global Low-Speed Vehicle Market Outlook, By Application (2022-2030) ($MN)
  • Table 26 Global Low-Speed Vehicle Market Outlook, By Personal Transportation (2022-2030) ($MN)
  • Table 27 Global Low-Speed Vehicle Market Outlook, By Commercial (2022-2030) ($MN)
  • Table 28 Global Low-Speed Vehicle Market Outlook, By Recreational (2022-2030) ($MN)
  • Table 29 Global Low-Speed Vehicle Market Outlook, By Industrial Facilities (2022-2030) ($MN)
  • Table 30 Global Low-Speed Vehicle Market Outlook, By Golf Courses (2022-2030) ($MN)
  • Table 31 Global Low-Speed Vehicle Market Outlook, By Hotels & Resorts (2022-2030) ($MN)
  • Table 32 Global Low-Speed Vehicle Market Outlook, By Other Applications (2022-2030) ($MN)
  • Table 33 Global Low-Speed Vehicle Market Outlook, By End User (2022-2030) ($MN)
  • Table 34 Global Low-Speed Vehicle Market Outlook, By Individual Consumers (2022-2030) ($MN)
  • Table 35 Global Low-Speed Vehicle Market Outlook, By Businesses (2022-2030) ($MN)
  • Table 36 Global Low-Speed Vehicle Market Outlook, By Government and Municipalities (2022-2030) ($MN)
  • Table 37 Global Low-Speed Vehicle Market Outlook, By Other End Users (2022-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.