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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 and Commercial Premises; Regional Analysis; Historical Market and Forecast (2018-2028); Competitive Landscape; Industry Events and Developments
Global Low Speed Vehicle Market Outlook
The global low speed vehicle market attained a value of USD 4.2 billion in 2022 and expected to grow at a CAGR of 3.40% in the forecast period of 2023-2028 to reach a value of USD 5.1 billion by 2028.
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 Inc.
- Deere & Co.
- Kubota Corporation
- Textron Inc.
- Yamaha Motor
- 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 | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| 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, 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 Corporation, Ingersoll Rand Inc. (Club Car), Textron Inc., Yamaha Motor, Textron Inc., 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Low Speed Vehicle Market Analysis
8.1 Key Industry Highlights
8.2 Global Low Speed Vehicle Historical Market (2018-2022)
8.3 Global Low Speed Vehicle Market Forecast (2023-2028)
8.4 Global Low Speed Vehicle Market by Type
8.4.1 Passenger Vehicle
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Heavy Duty Vehicle
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Utility Vehicle
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Off-road Vehicle
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.5 Global Low Speed Vehicle Market by End Use
8.5.1 Golf Courses
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Tourist Destinations
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Hotels and Resorts
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Airports
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Residential and Commercial Premises
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Low Speed Vehicle Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Polaris Industries Inc.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Deere & Co.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Kubota Corporation
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Ingersoll Rand Inc. (Club Car)
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Textron Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Yamaha Motor
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Low Speed Vehicle Market: Key Industry Highlights, 2018 and 2028
2. Global Low Speed Vehicle Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Low Speed Vehicle Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Low Speed Vehicle Historical Market: Breakup by End Use (USD Million), 2018-2022
5. Global Low Speed Vehicle Market Forecast: Breakup by End Use (USD Million), 2023-2028
6. Global Low Speed Vehicle Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Low Speed Vehicle Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Low Speed Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Low Speed Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Low Speed Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Low Speed Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Low Speed Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Low Speed Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Low Speed Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Low Speed Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Low Speed Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Low Speed Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Low Speed Vehicle Market Structure
Key Questions Answered in the Report
In 2022, the global low speed vehicle market attained a value of nearly USD 4.2 billion.
The market is projected to grow at a CAGR of 3.40% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 5.1 billion by 2028.
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 trends propelling the growth of the market.
The major regions in the market 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 market.
Golf courses, tourist destinations, hotels and resorts, airports, and residential and commercial premises are the major end use sectors in this market.
The key players in the market include Polaris Industries, Deere & Co., Kubota Corporation, Ingersoll Rand Inc. (Club Car), Textron Inc., Yamaha Motor, and Textron Inc., among others.
Analyst Review
The global low speed vehicle market attained a value of USD 4.2 billion in 2022, 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 2023-2028, growing at a CAGR of 3.40%. The market is projected to reach USD 5.1 billion by 2028.
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 Corporation, Ingersoll Rand Inc. (Club Car), Textron Inc., Yamaha Motor, Textron Inc., 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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