Global Micro EVs Market Growth 2023-2029

Global Micro EVs Market Growth 2023-2029

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.

LPI (LP Information)' newest research report, the “Micro EVs Industry Forecast” looks at past sales and reviews total world Micro EVs sales in 2022, providing a comprehensive analysis by region and market sector of projected Micro EVs sales for 2023 through 2029. With Micro EVs sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Micro EVs industry.

This Insight Report provides a comprehensive analysis of the global Micro EVs landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Micro EVs portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Micro EVs market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Micro EVs and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Micro EVs.

The global Micro EVs market size is projected to grow from US$ 8001.1 million in 2022 to US$ 12210 million in 2029; it is expected to grow at a CAGR of 12210 from 2023 to 2029.

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

This report presents a comprehensive overview, market shares, and growth opportunities of Micro EVs market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Lead-acid Battery EVs

Lithium-ion Battery EVs

Segmentation by application

Personal Use

Commercial Use (Sightseeing, Golf etc.)

Public Utilities

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

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

Key Questions Addressed in this Report

What is the 10-year outlook for the global Micro EVs market?

What factors are driving Micro EVs market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Micro EVs market opportunities vary by end market size?

How does Micro EVs break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.