The worldwide market for Low Speed Vehicle is expected to grow at a CAGR of roughly 6.0% over the next five years, will reach 5101.8 million US$ in 2024, from 3807.1 million US$ in 2019
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%.
Top Companies in the Global Low Speed Vehicle Market: Byvin Corporation, Yogomo, Shifeng, Ingersoll Rand, Dojo, Textron, Lichi, Polaris, Yamaha, GreenWheel EV, Xinyuzhou, Renault, Eagle, Tangjun And others.
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Global Low Speed Vehicle Market Split by Product Type and Applications:
This report segments the global Low Speed Vehicle market on the basis of Types are:
On the basis of Application, the Global Low Speed Vehicle market is segmented into:
- Personal Use
- Public Utilities
- Golf Cart
Regional Analysis For Low Speed Vehicle Market:
–North America (United States, Canada and Mexico)
-Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam)
-Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
-Central & South America (Brazil, Rest of South America)
–Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa, Other)
The report has 150 tables and figures browse the report description and TOC:
Some major points from Table of Content:
- Low Speed Vehicle market Overview
- Low Speed Vehicle market Economic Impact
- Competition by Manufacturer
- Production, Revenue (Value) by Region (2019-2025)
- Supply (Production), Consumption, Export, Import by Regions (2019-2025)
- Production, Revenue (Value), Price Trend by Type
- Low Speed Vehicle market Analysis by Application
- Market by Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders.
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