Micro EVs Market Size By Application, Industry Analysis Reports, Regional Outlook (North America, Europe, Asia Pacific, Middle East & Africa, And South America), Growth Potential, Price Trends, Competitive Market Shares & Forecast 2023 - 2030
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.
Global Sales of Micro EVs surged in the past two years with the good sales of scooters in China market. Global Micro EVs are expected to sell 2.51 million units in 2030 and more than 80% will appear in China market, which exhibits a promising trend of the industry. For the products types, lithium ion batteries based Micro EVs are more favored in USA, Europe and Japan, while lead-acid batteries based products take a large market share in China.
Attracted by the market profits, more and more companies have entered into Micro EVs industry, the competition between manufacturers at home and abroad is fierce for the time being. For the major players of Micro EVs industry in global market, Textron, Yamaha and Polaris are the leaders. In the other side, China suppliers such as 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 Micro EVs is predicted to decline 4.06 thousand USD/Unit in the end of 2030, for the manufacturers, gross margin is about 15%~23%.
The Global Micro EVs Market had reached xxx million USD with a CAGR xx from 2018-2022. Later on, it will go to xxx million USD in 2023 with a CAGR xx % from 2023 - 2030.
In the global Micro EVs Market, This report focuses particularly in North America, South America, Europe and Asia-Pacific, and Middle East and Africa. This report classifies the Market on the basis of application, type, regions, and manufactures.
In Market segmentation by manufacturers, the report covers the following companies-
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
In Market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
In Market segmentation by types :
Lead-acid Battery EVs
Lithium-ion Battery EVs
In Market segmentation by applications :
Personal Use
Commercial Use (Sightseeing, Golf etc.)
Public Utilities
The research provides answers to the following key questions:
• What is the estimated growth rate and Market share and size of the Micro EVs Market for the forecast period 2023 - 2030?
• What are the driving forces in the Micro EVs Market for the forecast period 2023 - 2030?
• Who are the prominent Market players and how have they gained a competitive edge over other competitors?
• What are the Market trends influencing the progress of the Micro EVs industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the Market hold for the prominent Market players?
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Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.
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