Market Research

North America Low-Speed Vehicle Market Size, Share & Industry Trends Analysis Report

Best Price Guarantee Length Publisher Published Date SKU
from $1,500 126 Pages Knowledge Based Value (KBV) Research June, 2023 KBV18113907
Best Price Guarantee
Price from $1,500
Length 126 Pages
Publisher Knowledge Based Value (KBV) Research
Published Date June, 2023
SKU KBV18113907

North America Low-Speed Vehicle Market Size, Share & Industry Trends Analysis Report By Category Type (L7, and L6), By Vehicle Type, By Power Output, By Propulsion, By Battery Type, By Voltage Type, By Application, By Country and Growth Forecast, 2023 - 2030


The North America Low-Speed Vehicle Market would witness market growth of 6.5% CAGR during the forecast period (2023-2030).

In the United States, the Federal Motor Vehicle Safety Standards have issued safety regulations for vehicles traveling between 20 and 25 miles per hour. A four-wheeled motor vehicle is considered a low-speed vehicle if its maximum speed is between 20 and 25 mph (32 and 40 km/h) and its gross vehicle weight rating is less than 2,500 pounds (1,134 kg).

In places like gated and retirement communities, LSVs with greater cargo carrying capacity, provide a flexible and affordable alternative to trucks. Although these small, lightweight vehicles are intended to carry primarily passengers or property, enforcing the complete range of Federal Motor Vehicle Safety Standards (FMVSSs) that apply to automobiles, trucks, and multipurpose passenger vehicles is equally inappropriate.

The Canadian government made several investments to make it simpler for Canadians to purchase and charge electric vehicles (EVs), in addition to ensuring that more ZEVs are available for purchase. For nearly 85,000 federally funded chargers throughout Canada by 2027, the Canadian government has invested in 50,000 additional EV charging stations nationwide. In addition, provincial governments and the corporate sector encourage charging stations. This supportive government attitude is predicted to surge the sales of EVs in the region, further offering growth prospects to the market.

The US market dominated the North America Low-Speed Vehicle Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,070.3 million by 2030. The Canada market is estimated to grow at a CAGR of 8.9% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 8% during (2023 - 2030).

Based on Category Type, the market is segmented into L7, and L6. Based on Vehicle Type, the market is segmented into Commercial Turf Utility Vehicle, Golf Cart, Industrial Utility Vehicle, and Personal Mobility Vehicle. Based on Power Output, the market is segmented into <8KW, 8-15KW, and >15KW. Based on Propulsion, the market is segmented into Electric, Diesel, and Gasoline. Based on Battery Type, the market is segmented into Li-Ion, and Lead Acid. Based on Voltage Type, the market is segmented into <60 V, and >60 V. Based on Application, the market is segmented into Golf Courses, Hotels & Resorts, Airports, Industrial Facilities, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Textron, Inc., Deere & Company, Yamaha Motor Co., Ltd., The Toro Company, KUBOTA Corporation, Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.), Waev, Inc., Club Car, LLC, American LandMaster, and Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.

Scope of the Study

Market Segments covered in the Report:

By Category Type
  • L7
  • L6
By Vehicle Type
  • Commercial Turf Utility Vehicle
  • Golf Cart
  • Industrial Utility Vehicle
  • Personal Mobility Vehicle
By Power Output
  • <8KW
  • 8-15KW
  • >15KW
By Propulsion
  • Electric
  • Diesel
  • Gasoline
By Battery Type
  • Li-Ion
  • Lead Acid
By Voltage Type
  • <60 V
  • >60 V
By Application
  • Golf Courses
  • Hotels & Resorts
  • Airports
  • Industrial Facilities
  • Others
By Country
  • US
  • Canada
  • Mexico
  • Rest of North America
Companies Profiled
  • Textron, Inc.
  • Deere & Company
  • Yamaha Motor Co., Ltd.
  • The Toro Company
  • KUBOTA Corporation
  • Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.)
  • Waev, Inc.
  • Club Car, LLC
  • American LandMaster
  • Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Low-Speed Vehicle Market, by Category Type
1.4.2 North America Low-Speed Vehicle Market, by Vehicle Type
1.4.3 North America Low-Speed Vehicle Market, by Power Output
1.4.4 North America Low-Speed Vehicle Market, by Propulsion
1.4.5 North America Low-Speed Vehicle Market, by Battery Type
1.4.6 North America Low-Speed Vehicle Market, by Voltage Type
1.4.7 North America Low-Speed Vehicle Market, by Application
1.4.8 North America Low-Speed Vehicle Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Market Share Analysis, 2022
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2019-2023)
3.4.2 Key Strategic Move: (Product Launches and Product Expansions: 2019, Jan – 2023, Jun) Leading Players
Chapter 4. North America Low-Speed Vehicle Market by Category Type
4.1 North America L7 Market by Country
4.2 North America L6 Market by Country
Chapter 5. North America Low-Speed Vehicle Market by Vehicle Type
5.1 North America Commercial Turf Utility Vehicle Market by Country
5.2 North America Golf Cart Market by Country
5.3 North America Industrial Utility Vehicle Market by Country
5.4 North America Personal Mobility Vehicle Market by Country
Chapter 6. North America Low-Speed Vehicle Market by Power Output
6.1 North America <8KW Market by Country
6.2 North America 8-15KW Market by Country
6.3 North America >15KW Market by Country
Chapter 7. North America Low-Speed Vehicle Market by Propulsion
7.1 North America Electric Market by Country
7.2 North America Diesel Market by Country
7.3 North America Gasoline Market by Country
Chapter 8. North America Low-Speed Vehicle Market by Battery Type
8.1 North America Li-Ion Market by Country
8.2 North America Lead Acid Market by Country
Chapter 9. North America Low-Speed Vehicle Market by Voltage Type
9.1 North America <60 V Market by Country
9.2 North America >60 V Market by Country
Chapter 10. North America Low-Speed Vehicle Market by Application
10.1 North America Golf Courses Market by Country
10.2 North America Hotels & Resorts Market by Country
10.3 North America Airports Market by Country
10.4 North America Industrial Facilities Market by Country
10.5 North America Others Market by Country
Chapter 11. North America Low-Speed Vehicle Market by Country
11.1 US Low-Speed Vehicle Market
11.1.1 US Low-Speed Vehicle Market by Category Type
11.1.2 US Low-Speed Vehicle Market by Vehicle Type
11.1.3 US Low-Speed Vehicle Market by Power Output
11.1.4 US Low-Speed Vehicle Market by Propulsion
11.1.5 US Low-Speed Vehicle Market by Battery Type
11.1.6 US Low-Speed Vehicle Market by Voltage Type
11.1.7 US Low-Speed Vehicle Market by Application
11.2 Canada Low-Speed Vehicle Market
11.2.1 Canada Low-Speed Vehicle Market by Category Type
11.2.2 Canada Low-Speed Vehicle Market by Vehicle Type
11.2.3 Canada Low-Speed Vehicle Market by Power Output
11.2.4 Canada Low-Speed Vehicle Market by Propulsion
11.2.5 Canada Low-Speed Vehicle Market by Battery Type
11.2.6 Canada Low-Speed Vehicle Market by Voltage Type
11.2.7 Canada Low-Speed Vehicle Market by Application
11.3 Mexico Low-Speed Vehicle Market
11.3.1 Mexico Low-Speed Vehicle Market by Category Type
11.3.2 Mexico Low-Speed Vehicle Market by Vehicle Type
11.3.3 Mexico Low-Speed Vehicle Market by Power Output
11.3.4 Mexico Low-Speed Vehicle Market by Propulsion
11.3.5 Mexico Low-Speed Vehicle Market by Battery Type
11.3.6 Mexico Low-Speed Vehicle Market by Voltage Type
11.3.7 Mexico Low-Speed Vehicle Market by Application
11.4 Rest of North America Low-Speed Vehicle Market
11.4.1 Rest of North America Low-Speed Vehicle Market by Category Type
11.4.2 Rest of North America Low-Speed Vehicle Market by Vehicle Type
11.4.3 Rest of North America Low-Speed Vehicle Market by Power Output
11.4.4 Rest of North America Low-Speed Vehicle Market by Propulsion
11.4.5 Rest of North America Low-Speed Vehicle Market by Battery Type
11.4.6 Rest of North America Low-Speed Vehicle Market by Voltage Type
11.4.7 Rest of North America Low-Speed Vehicle Market by Application
Chapter 12. Company Profiles
12.1 Textron, Inc.
12.1.1 Company Overview
12.1.2 Financial Analysis
12.1.3 Segmental and Regional Analysis
12.1.4 Research & Development Expenses
12.1.5 Recent strategies and developments:
12.1.5.1 Product Launches and Product Expansions:
12.2 Deere & Company
12.2.1 Company Overview
12.2.2 Financial Analysis
12.2.3 Segmental and Regional Analysis
12.2.4 Research & Development Expenses
12.2.5 Recent strategies and developments:
12.2.5.1 Product Launches and Product Expansions:
12.2.5.2 Acquisition and Mergers:
12.3 Yamaha Motor Co., Ltd.
12.3.1 Company Overview
12.3.2 Financial Analysis
12.3.3 Segmental and Regional Analysis
12.3.4 Research & Development Expense
12.3.5 Recent strategies and developments:
12.3.5.1 Product Launches and Product Expansions:
12.4 The Toro Company
12.4.1 Company Overview
12.4.2 Financial Analysis
12.4.3 Segmental and Regional Analysis
12.4.4 Product Development Expenses
12.4.5 Recent strategies and developments:
12.4.5.1 Product Launches and Product Expansions:
12.4.5.2 Acquisition and Mergers:
12.5 KUBOTA Corporation
12.5.1 Company Overview
12.5.2 Financial Analysis
12.5.3 Segmental and Regional Analysis
12.5.4 Research & Development Expenses
12.5.5 Recent strategies and developments:
12.5.5.1 Product Launches and Product Expansions:
12.6 Columbia Vehicle Group Inc. (Nordic Group of Companies, Ltd.)
12.6.1 Company Overview
12.6.2 Financial Analysis
12.6.3 Segmental and Regional Analysis
12.6.4 Recent strategies and developments:
12.6.4.1 Partnerships, Collaborations, and Agreements:
12.7 Waev, Inc.
12.7.1 Company Overview
12.7.2 Recent strategies and developments:
12.7.2.1 Acquisition and Mergers:
12.8 Club Car, LLC
12.8.1 Company overview
12.8.2 Recent strategies and developments:
12.8.2.1 Product Launches and Product Expansions:
12.8.2.2 Acquisition and Mergers:
12.9 American LandMaster
12.9.1 Company Overview
12.9.2 Recent strategies and developments:
12.9.2.1 Product Launches and Product Expansions:
12.10. Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
12.10.1 Company Overview

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