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Low-Speed Vehicle Trends and Forecast
The future of the global low-speed vehicle market looks promising with opportunities in the golf course, hotel & resort, airport, and industrial facility applications. The global low-speed vehicle market is expected to reach an estimated $16.1 billion by 2030 with a CAGR of 7.3% from 2024 to 2030. The major drivers for this market are increasing demand for green transportation, growing popularity of shared mobility, and rising fuel prices.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Low-Speed Vehicle by Segment
The study includes a forecast for the global low-speed vehicle by propulsion, vehicle type, application, and region.
Low-Speed Vehicle Market by Propulsion [Shipment Analysis by Value from 2018 to 2030]:
• Electric
• Diesel
• Gasoline
Low-Speed Vehicle Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:
• Golf Cart
• Commercial Turf Utility Vehicle
• Industrial Utility Vehicle
• Personal Mobility Vehicle
Low-Speed Vehicle Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Golf Courses
• Hotels & Resorts
• Airports
• Industrial Facilities
• Others
Low-Speed Vehicle Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Low-Speed Vehicle Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies low-speed vehicle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the low-speed vehicle companies profiled in this report include-
• Textron
• Yamaha Motor
• The Toro Company
• Deere & Company
• Waev
• Club Car
• Speedways
Low-Speed Vehicle Market Insights
Lucintel forecasts that electric is expected to witness the highest growth over the forecast period due to the rising demand for pollution-free and zero-emission vehicles.
Within this market, airport will remain the largest segment due to significant use of low-speed vehicle in this sector to drop passengers from one place to another within the large area of the airport.
APAC is expected to witness highest growth over the forecast period due to continuous expansion of tourism sector and presence of key players in the region.
Features of the Global Low-Speed Vehicle Market
Market Size Estimates: Low-speed vehicle market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Low-speed vehicle market size by propulsion, vehicle type, application, and region in terms of value ($B).
Regional Analysis: Low-speed vehicle market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different propulsions, vehicle types, applications, and regions for the low-speed vehicle market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the low-speed vehicle market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the low-speed vehicle market size?
Answer: The global low-speed vehicle market is expected to reach an estimated $16.1 billion by 2030.
Q2. What is the growth forecast for low-speed vehicle market?
Answer: The global low-speed vehicle market is expected to grow with a CAGR of 7.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the low-speed vehicle market?
Answer: The major drivers for this market are increasing demand for green transportation, growing popularity of shared mobility, and rising fuel prices.
Q4. What are the major segments for low-speed vehicle market?
Answer: The future of the low-speed vehicle market looks promising with opportunities in the golf course, hotel & resort, airport, and industrial facility applications.
Q5. Who are the key low-speed vehicle market companies?
Answer: Some of the key low-speed vehicle companies are as follows:
• Textron
• Yamaha Motor
• The Toro Company
• Deere & Company
• Waev
• Club Car
• Speedways
Q6. Which low-speed vehicle market segment will be the largest in future?
Answer: Lucintel forecasts that electric is expected to witness the highest growth over the forecast period due to the rising demand for pollution-free and zero-emission vehicles.
Q7. In low-speed vehicle market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to continuous expansion of tourism sector and presence of key players in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the low-speed vehicle market by propulsion (electric, diesel, and gasoline), vehicle type (golf cart, commercial turf utility vehicle, industrial utility vehicle, and personal mobility vehicle), application (golf courses, hotels & resorts, airports, industrial facilities, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Low-Speed Vehicle Market, Low-Speed Vehicle Market Size, Low-Speed Vehicle Market Growth, Low-Speed Vehicle Market Analysis, Low-Speed Vehicle Market Report, Low-Speed Vehicle Market Share, Low-Speed Vehicle Market Trends, Low-Speed Vehicle Market Forecast, Low-Speed Vehicle Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Low-Speed Vehicle Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Low-Speed Vehicle Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Low-Speed Vehicle Market by Propulsion
3.3.1: Electric
3.3.2: Diesel
3.3.3: Gasoline
3.4: Global Low-Speed Vehicle Market by Vehicle Type
3.4.1: Golf Cart
3.4.2: Commercial Turf Utility Vehicle
3.4.3: Industrial Utility Vehicle
3.4.4: Personal Mobility Vehicle
3.5: Global Low-Speed Vehicle Market by Application
3.5.1: Golf Courses
3.5.2: Hotels & Resorts
3.5.3: Airports
3.5.4: Industrial Facilities
3.5.5: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Low-Speed Vehicle Market by Region
4.2: North American Low-Speed Vehicle Market
4.2.2: North American Low-Speed Vehicle Market by Application: Golf Courses, Hotels & Resorts, Airports, Industrial Facilities, and Others
4.3: European Low-Speed Vehicle Market
4.3.1: European Low-Speed Vehicle Market by Propulsion: Electric, Diesel, and Gasoline
4.3.2: European Low-Speed Vehicle Market by Application: Golf Courses, Hotels & Resorts, Airports, Industrial Facilities, and Others
4.4: APAC Low-Speed Vehicle Market
4.4.1: APAC Low-Speed Vehicle Market by Propulsion: Electric, Diesel, and Gasoline
4.4.2: APAC Low-Speed Vehicle Market by Application: Golf Courses, Hotels & Resorts, Airports, Industrial Facilities, and Others
4.5: ROW Low-Speed Vehicle Market
4.5.1: ROW Low-Speed Vehicle Market by Propulsion: Electric, Diesel, and Gasoline
4.5.2: ROW Low-Speed Vehicle Market by Application: Golf Courses, Hotels & Resorts, Airports, Industrial Facilities, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Low-Speed Vehicle Market by Propulsion
6.1.2: Growth Opportunities for the Global Low-Speed Vehicle Market by Vehicle Type
6.1.3: Growth Opportunities for the Global Low-Speed Vehicle Market by Application
6.1.4: Growth Opportunities for the Global Low-Speed Vehicle Market by Region
6.2: Emerging Trends in the Global Low-Speed Vehicle Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Low-Speed Vehicle Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Low-Speed Vehicle Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Textron
7.2: Yamaha Motor
7.3: The Toro Company
7.4: Deere & Company
7.5: Waev
7.6: Club Car
7.7: Speedways
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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