Micro EVs Market Worth US$ 11600 Million by 2028 – COVID-19 Impact and Global Analysis by The Market Reports

A micro electric vehicle (EV) is a four-wheeled electric powered micro vehicle with an attainable speed of more than 20 miles per hour but not more than 25 miles per hour (in China, not more than 70 kilometers per hour) on a paved surface, and it usually has a gross vehicle weight rating (GVWR) of less than 3,000 pounds.

Neighborhood electric vehicles (NEVs), golf carts and utility terrain vehicles all fall into this category.

China is the largest region of Micro EVs, with a market share about 70%. Textron, Yamaha and Polaris are the major manufacturers of industry.

The global Micro EVs market was valued at US$ 7655 million in 2020 and it is expected to reach US$ 11600 million by the end of 2027, growing at a CAGR of 6.0% during 2021-2027.

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

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The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Segment by Type

  • Lead-acid Battery EVs
  • Lithium-ion Battery EVs

Segment by Application

  • Personal Use
  • Commercial Use (Sightseeing, Golf etc.)
  • Public Utilities

By Company

  • Yogomo
  • Shifeng
  • Textron
  • Dojo
  • Byvin
  • Polaris
  • Lichi
  • Baoya
  • Tangjun
  • Yamaha
  • Fulu
  • Xinyuzhou
  • GreenWheel EV
  • Incalu
  • Kandi
  • Renault
  • APACHE
  • Garia
  • Zheren
  • Ingersoll Rand
  • CitEcar Electric Vehicles
  • Eagle
  • Taiqi

Production by Region

  • North America
  • Europe
  • China

Consumption by Region

  • North America (United States, Canada)
  • Europe (Germany, France, U.K., Italy, Russia)
  • Asia-Pacific (China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia)
  • Latin America (Mexico, Brazil, Argentina)
  • Middle East & Africa (Turkey, Saudi Arabia, UAE)

 

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