Lucintel Forecasts Low Speed Electric Vehicle Market To Reach $8.92 Billion By 2025

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According to the recent study the low speed electric vehicle market is projected to reach an estimated $8.92 billion by 2025 from $8.24 billion in 2019, at a CAGR of 1.3% from 2020 to 2025. Growth in this market is primarily driven by stringent environmental regulations, improvement in electric vehicle R&D, advanced battery technology, and government subsidies.
Browse 124 figures / charts and 105 tables in this 184 -page report to understand trends, opportunities and forecast in low speed electric vehicle market by voltage (24V, 36V, 48V, 60v, and 72V), product type (personal utility vehicles, golf carts, low speed heavy duty, and low speed off road), and by region (North America, Europe, Asia Pacific, and the Rest of the World).
Download sample report by clicking on below link https://www.lucintel.com/AskanAnalyst.aspx?RepId=RPT2800 and view detailed Table of Content here – https://www.lucintel.com/low-speed-electric-vehicle-market.aspx
“48 Volt market is expected to remain the largest segment during the forecast period.”
Based on voltage, the low speed electric vehicle market is segmented ...
... into 24V, 36V, 48V, 60v, and 72V. Lucintel forecasts that the 48V is expected to witness the largest segment over the forecast period as it provides optimal power to price ratio and 72 Volt powered LSEV is expected to witness the highest growth over the forecast period due to rising demand for high performance LSEVs.
“Within the low speed electric vehicle market, the golf cart segment is expected to remain the largest product type”
Based on product type, the golf cart segment is expected to witness the largest segment and it is also expected to witness the highest growth during the forecast period due to rise in the popularity of golf sports and development of new golf courses across the globe.
“Asia Pacific will dominate the low speed electric vehicle market in near future”
Asia Pacific is expected to be the largest region with the highest growth over the forecast period, due to government initiatives to reduce carbon emission and increasing traffic congestion.
Download Brochure of this report by clicking on https://www.lucintel.com/low-speed-electric-vehicle-market.aspx
Major players of low speed electric vehicle market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Polaris Industries Inc., LIGIER Group, Renault Group, Yogomo Motors Co. Ltd., Textron Inc., Shifeng Group Co. and others are among the major low speed electric vehicle providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/low-speed-electric-vehicle-market.aspx or helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Brandon Fitzgerald
Lucintel
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Email: brandon.fitzgerald@lucintel.com
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