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Global Low Speed Vehicle Market: By Type: Passenger Vehicle, Heavy Duty Vehicle, Utility Vehicle, Off-Road Vehicle; By End Use: Golf Courses, Tourist Destinations, Airports, Residential & Commercial Premises; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments
Global Low Speed Vehicle Market Outlook
The global low speed vehicle market attained a value of USD 3.6 billion in 2020. The industry is further expected to grow at a CAGR of 3.2% in the forecast period of 2021-2026 to reach a value of USD 4.4 billion by 2026.
The low speed vehicle market growth is being driven by the increasing trend for low speed cars in gated societies, resorts, industrial, and university campuses.
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Properties and Applications
A low speed vehicle is a four-wheeled motor vehicle with a speed of 30 kmph to 40kmph and gross vehicle weight of up to 1,360 kg. The various types of low speed vehicle include:
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- Passenger Vehicle
- Heavy-Duty Vehicle
- Utility Vehicle
- Off-Road Vehicle
The end uses of low speed vehicle are:
- Golf Courses
- Tourist Destinations
- Hotels and Resorts
- Airports
- Residential and Commercial Premises
The EMR report looks into the regional markets for low speed vehicles like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Market Analysis
The global low speed vehicle market is being driven by the enactment of strict laws and regulations by the governments on vehicle emissions. The rise in pollution, technological advances, and the automotive industry, along with the fall in fossil fuel stocks, are further fuelling the demand growth of the global low speed vehicles industry. In addition, advances in ride-hailing and embedded mobility alternatives is expected to support the anticipated growth of the low speed vehicle industry. However, since the authorities have not defined the security requirements for these cars, it might hinder the growth of the industry.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global low speed vehicle market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Polaris Industries
- Deere & Co.
- Kubota
- Club Car/Ingersoll Rand
- Textron Specialized Vehicles
- Yamaha Motor
- Kawasaki Motors
- Ontario Drive & Gear Ltd.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2016-2020 |
| Forecast Period | 2021-2026 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, End Use, Region |
| Breakup by Type | Passenger Vehicle, Heavy Duty Vehicle, Utility Vehicle, Off-Road Vehicle |
| Breakup by End Use | Golf Courses, Tourist Destinations, Hotels & Resorts, Airports, Residential & Commercial Premises |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Polaris Industries, Deere & Co., Kubota, Club Car/Ingersoll Rand, Textron Specialized Vehicles, Yamaha Motor, Kawasaki Motors, Ontario Drive & Gear Ltd., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
1.1 Objectives of the Study
1.2 Key findings of the Study
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.4 Inference Data
3 Executive Summary
3.1 Market Overview
3.2 Market Analysis
4 Global Low Speed Vehicle Market Analysis
4.1 Global Low Speed Vehicle Market (2016-2020) & Forecast (2021-2026)
4.2 Global Low Speed Vehicle Market Breakup by Type
4.2.1 Passenger Vehicle
4.2.2 Heavy Duty Vehicle
4.2.3 Utility Vehicle
4.2.4 Off-Road Vehicle
4.3 Global Low Speed Vehicle Market Breakup by Type: Historical Market (2016-2020) & Forecast (2021-2026)
4.3.1 Passenger Vehicle
4.3.2 Heavy Duty Vehicle
4.3.3 Utility Vehicle
4.3.4 Off-Road Vehicle
4.4 Global Low Speed Vehicle Market Breakup by End Use
4.4.1 Golf Courses
4.4.2 Tourist Destinations
4.4.3 Hotels & Resorts
4.4.4 Airports
4.4.5 Residential & Commercial Premises
4.5 Global Low Speed Vehicle Market Breakup by End Use: Historical Market (2016-2020) & Forecast (2021-2026)
4.5.1 Golf Courses
4.5.2 Tourist Destinations
4.5.3 Hotels & Resorts
4.5.4 Airports
4.5.5 Residential & Commercial Premises
4.6 Global Low Speed Vehicle Market Breakup by Region
4.6.1 North America
4.6.1.1 United States of America
4.6.1.2 Canada
4.6.2 Europe
4.6.2.1 Germany
4.6.2.2 United Kingdom
4.6.2.3 France
4.6.2.4 Italy
4.6.2.5 Others
4.6.3 Asia Pacific
4.6.3.1 China
4.6.3.2 Japan
4.6.3.3 India
4.6.3.4 ASEAN
4.6.3.5 Others
4.6.4 Latin America
4.6.4.1 Brazil
4.6.4.2 Argentina
4.6.4.3 Mexico
4.6.4.4 Others
4.6.5 Middle East & Africa
4.6.5.1 Saudi Arabia
4.6.5.2 United Arab Emirates
4.6.5.3 Nigeria
4.6.5.4 South Africa
4.6.5.5 Others
4.7 Global Low Speed Vehicle Market Breakup by Region: Historical Market (2016-2020) & Forecast (2021-2026)
4.7.1 North America
4.7.1.1 United States of America
4.7.1.2 Canada
4.7.2 Europe
4.7.2.1 Germany
4.7.2.2 United Kingdom
4.7.2.3 France
4.7.2.4 Italy
4.7.2.5 Others
4.7.3 Asia Pacific
4.7.3.1 China
4.7.3.2 Japan
4.7.3.3 India
4.7.3.4 ASEAN
4.7.3.5 Others
4.7.4 Latin America
4.7.4.1 Brazil
4.7.4.2 Argentina
4.7.4.3 Mexico
4.7.4.4 Others
4.7.5 Middle East & Africa
4.7.5.1 Saudi Arabia
4.7.5.2 United Arab Emirates
4.7.5.3 Nigeria
4.7.5.4 South Africa
4.7.5.5 Others
5 SWOT Analysis
5.1 Overview
5.2 Strengths
5.3 Weaknesses
5.4 Opportunities
5.5 Threats
6 Porter’s Five Forces Analysis
6.1 Overview
6.2 Buyer’s Power
6.3 Supplier’s Power
6.4 New Entrants
6.5 Degree of Rivalry
6.6 Substitutes
7 EKDA For Price
7.1 Labor
7.2 Utilities
7.3 Other Input Costs
7.4 Market Dynamics
8 EKDA For Demand
8.1 Government Regulations
8.2 Market Competition
8.3 Price
8.4 Availability
9 Key Players & Company Profiles
9.1 Polaris Industries
9.2 Deere & Co.
9.3 Kubota
9.4 Club Car/Ingersoll Rand
9.5 Textron Specialized Vehicles
9.6 Yamaha Motor
9.7 Kawasaki Motors
9.8 Ontario Drive & Gear Ltd.
9.9 Others
10 Industry Events and Developments
Key Questions Answered in the Report
In 2020, the global low speed vehicle market attained a value of nearly USD 3.6 billion.
The market is projected to grow at a CAGR of 3.2% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach USD 4.4 billion by 2026.
The major drivers of the market include the growing population, rise in pollution, technological advances, and the automotive industry, along with the fall in fossil fuel stocks.
The enactment of strict laws and regulations by the governments on vehicle emissions and advances in ride-hailing and embedded mobility alternatives are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Passenger vehicle, heavy-duty vehicle, utility vehicle, and off-road vehicle are major types of low-speed vehicles in the industry.
Golf courses, tourist destinations, hotels and resorts, airports, and residential and commercial premises are the major end use sectors in this industry.
The major players in the industry are Polaris Industries, Deere & Co., Kubota, Club Car/Ingersoll Rand, Textron Specialized Vehicles, Yamaha Motor, Kawasaki Motors, and Ontario Drive & Gear Ltd., among others.
Analyst Review
The global low speed vehicle market attained a value of USD 3.6 billion in 2020, driven by the rise in pollution, technological advances, and the automotive industry, along with the fall in fossil fuel stocks. Aided by the growing enactment of strict laws and regulations by the governments on vehicle emissions, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 3.2%. The market is projected to reach USD 4.4 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the low-speed vehicle industry can be segmented into passenger vehicle, heavy-duty vehicle, utility vehicle, and off-road vehicle. Golf courses, tourist destinations, hotels and resorts, airports, and residential and commercial premises. The major regional markets for low-speed vehicle are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Polaris Industries, Deere & Co., Kubota, Club Car/Ingersoll Rand, Textron Specialized Vehicles, Yamaha Motor, Kawasaki Motors, and Ontario Drive & Gear Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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