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Low Speed Vehicle Market Growth 2019-2024

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akshay dalvi
Low Speed Vehicle Market Growth 2019-2024

A low-speed vehicle (LSV) is a legal class of 4-wheel vehicles that have a maximum capable speed typically around 25 mph (40 km/h), and have a minimum capable speed (typically 20 mph (32 km/h)) that allows them to travel on public roads not accessible to all golf carts or neighborhood electric vehicles (NEV).

Attracted by the market profits, more and more companies have entered into low speed vehicle industry, the competition between manufacturers at home and abroad is fierce for the time being. For the major players of low speed vehicle industry in global market, Ingersoll Rand, Textron, Yamaha and Polaris are the leaders. In the other side, China suppliers such as Byvin Corporation, Yogomo, Dojo and Shifeng have obvious large sales market share.

For the fierce competition between suppliers, price and gross margin is expected to decrease further. Global average price of low speed vehicle is predicted to decline 4.25 thousand USD/Unit in the end of 2025, for the manufacturers, gross margin is about 13%~23%.

 

 

 

According to this study, over the next five years the Low Speed Vehicle market will register a 6.5% CAGR in terms of revenue, the global market size will reach US$ 4967.3 million by 2024, from US$ 3619.5 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Low Speed Vehicle business, shared in Chapter 3.

 

This report presents a comprehensive overview, market shares, and growth opportunities of Low Speed Vehicle market by product type, application, key manufacturers and key regions and countries.

 

This study considers the Low Speed Vehicle value and volume generated from the sales of the following segments:

 

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

 

  • Electric
  • Diesel
  • Gasoline

 

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

 

  • Personal Use
  • Public Utilities
  • Golf Cart
  • Sightseeing Cars
  • Other

 

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.

 

  • Americas
  • United States
  • Canada
  • Mexico
  • Brazil
  • APAC
  • China
  • Japan
  • Korea
  • Southeast Asia
  • India
  • Australia
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Russia
  • Spain
  • Middle East & Africa
  • Egypt
  • South Africa
  • Israel
  • Turkey
  • GCC Countries

 

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.

 

  • Byvin Corporation
  • Yogomo
  • Shifeng
  • Ingersoll Rand
  • Dojo
  • Textron
  • Lichi
  • Polaris
  • Yamaha
  • GreenWheel EV
  • Xinyuzhou
  • Renault
  • Eagle
  • Tangjun

 

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

 

Research objectives

 


Table of content


2019-2024 Global Low Speed Vehicle Consumption Market Report

1 Scope of the Report
1.1 Market Introduction
1.2 Research Objectives
1.3 Years Considered
1.4 Market Research Methodology
1.5 Economic Indicators
1.6 Currency Considered

2 Executive Summary
2.1 World Market Overview
2.1.1 Global Low Speed Vehicle Consumption 2014-2024
2.1.2 Low Speed Vehicle Consumption CAGR by Region
2.2 Low Speed Vehicle Segment by Type
2.2.1 Electric
2.2.2 Diesel
2.2.3 Gasoline
2.3 Low Speed Vehicle Consumption by Type
2.3.1 Global Low Speed Vehicle Consumption Market Share by Type (2014-2019)
2.3.2 Global Low Speed Vehicle Revenue and Market Share by Type (2014-2019)
2.3.3 Global Low Speed Vehicle Sale Price by Type (2014-2019)
2.4 Low Speed Vehicle Segment by Application
2.4.1 Personal Use
2.4.2 Public Utilities
2.4.3 Golf Cart
2.4.4 Sightseeing Cars
2.4.5 Other
2.5 Low Speed Vehicle Consumption by Application
2.5.1 Global Low Speed Vehicle Consumption Market Share by Application (2014-2019)
2.5.2 Global Low Speed Vehicle Value and Market Share by Application (2014-2019)
2.5.3 Global Low Speed Vehicle Sale Price by Application (2014-2019)

3 Global Low Speed Vehicle by Manufacturers
3.1 Global Low Speed Vehicle Sales Market Share by Manufacturers
3.1.1 Glo

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