Global Low-speed Electric Vehicles Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Low-speed Electric Vehicles market size was valued at US$ 7622 million in 2024 and is forecast to a readjusted size of USD 9494 million by 2031 with a CAGR of 3.2% during review period.

A low speed electric vehicle (LSV) is a four-wheeled 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 has a gross vehicle weight rating (GVWR) of less than 3,002 pounds. It cannot be powered by gas or diesel fuel.

Global EV sales continued strong. A total of 10,5 million new BEVs and PHEVs were delivered during 2022, an increase of +55 % compared to 2021. China and Europe emerged as the main drivers of strong growth in global EV sales. In 2022, the production and sales of new energy vehicles in China reach 7.0 million and 6.8 million respectively, a year-on-year increase of 96.9% and 93.4%, with a market share of 25.6%. The production and sales of new energy vehicles have ranked first in the world for eight consecutive years. Among them, the sales volume of pure electric vehicles was 5.365 million, a year-on-year increase of 81.6%. In 2022, sales of pure electric vehicles in Europe will increase by 29% year-on-year to 1.58 million.

This report is a detailed and comprehensive analysis for global Low-speed Electric Vehicles market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Low-speed Electric Vehicles market size and forecasts, in consumption value ($ Million), sales quantity (Units), and average selling prices (USD/Unit), 2020-2031

Global Low-speed Electric Vehicles market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Units), and average selling prices (USD/Unit), 2020-2031

Global Low-speed Electric Vehicles market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Units), and average selling prices (USD/Unit), 2020-2031

Global Low-speed Electric Vehicles market shares of main players, shipments in revenue ($ Million), sales quantity (Units), and ASP (USD/Unit), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Low-speed Electric Vehicles

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Low-speed Electric Vehicles market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Shifeng, Yogomo, Shandong Tangjun, Byvin, Kandi, Fulu, Baoya, Zheren, Huaxin, Suzhou Eagle, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Low-speed Electric Vehicles market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
Golf Cart
Sightseeing Car
Electric Patrol Car
Electric Ambulance
Special Vehicle
Other

Market segment by Application
Golf Course
Landscape, Tourism, Hotel
Park, Manor
Ambulance
Garbage Truck
Shopping Carts, Scooters
Oother

Major players covered
Shifeng
Yogomo
Shandong Tangjun
Byvin
Kandi
Fulu
Baoya
Zheren
Huaxin
Suzhou Eagle
Incalu
Taiqi
APACHE
Xinyuzhou

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Low-speed Electric Vehicles product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Low-speed Electric Vehicles, with price, sales quantity, revenue, and global market share of Low-speed Electric Vehicles from 2020 to 2025.

Chapter 3, the Low-speed Electric Vehicles competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Low-speed Electric Vehicles breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Low-speed Electric Vehicles market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Low-speed Electric Vehicles.

Chapter 14 and 15, to describe Low-speed Electric Vehicles sales channel, distributors, customers, research findings and conclusion.