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Low-Speed Vehicle Market by Type (Commercial Turf & Industrial Utility Vehicle, Golf Cart, and Personal Mobility Vehicle), Power Output (<8 kW, 8-15 kW, and >15 kW), Propulsion (Diesel, Electric, and Gasoline), Application and Region - Forecast to 2027

Published: March 2022

No. of Pages: 262

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Table of Contents

“Rising geriatric population, Growing popularity for golf, and Growing electric vehicle charging infrastructure to drive the Low-speed vehicle market during the forecast period.”

The low-speed vehicle market is projected to grow from USD 8.9 billion in 2021 to USD 14.4 billion by 2027, at a CAGR of 8.2%.As per the World Bank, the global population is growing at a rate of ~1% annually. Further, according to the same World Bank statistics, nearly 35% of the global population came under the 40-79 age group in 2020. Nearly 25% of the population in the US were 60 years and above, European nations had an average of 21.5% of the population above 60 years and above, and Japan is the oldest country with nearly 28% of the population in that age group. As per the UN Census Bureau, the global population crossed 7.9 billion in February 2022. As per medical studies, the reflex actions of the human body tend to reduce with growing age. This supports that people are now moving toward safer driving options. The trend of an aging population in the US has grown nearly 3% from 1996 to 2020 and predicted to grow during the forecast period. Thus, these figures show that the geriatric population is increasing, and low-speed vehicles which run at 25 mph are the best and safe solutions available for this population. The current trend for safe, comfortable, and easy mobility solutions is growing. People in the geriatric age group look for door-to-door movement mobility solutions, and low-speed compact vehicles fulfill this requirement. Companies have developed products keeping the elderly group population in consideration with models like E-Z-Go Express S4 introduced in 2021, Club Car’s Onward Series introduced in 2017, and Garia Via provides a full customization option to its customers and Cushion Shuttle 6 for movement of more passengers. In 2016, Wajima, a city in Japan, introduced free automated golf car services for the elderly population. Therefore, considering these factors, the rise in the geriatric population could drive the market for low-speed vehicles.

Golf is considered a form of recreational sport. The average age of the golfer is nearly 54 years. As per the National Golf Foundation (NGF) records in 2020, there was remarkable surge in both participation and rounds played despite the shutdowns and uncertainties of the COVID-19 pandemic. The NGF count showed 24.8 million golfers in the US in 2020, an increase of 500,000 and 2% over 2019. New players numbered 6.2 million in 2020. As per the NGF’s study, 2020 marked the third straight year more golfers came to the game in the US. Despite being the age group most at risk during the pandemic, older players showed an enthusiastic response for playing the sport. Further, in the US, two-thirds of private golf clubs were reported in a good financial situation in late 2020.

Also, at DLF Golf and Country Club, a prestigious golf club in Asia Pacific, there has been an increase in demand for membership and regular usage by existing members in 2020. Another factor that led to the growing popularity of the sport is the increase in rewards and prize money. As per Professional Golf Tour of India (PGTI) in Asia Pacific, events that had prize money of USD 8-10 thousand in the early 2000s are now scaled up to a range starting from USD 30 thousand and going up to USD 0.2 million in professional golf tournaments.

There has been a remarkable increase in golf courses throughout the globe. Again, as per NGF, there was a 44% increase in the number from 2006 to 2019. According to ASIAN Golf, nearly 5,000 golf courses were developed in Asia till March 2020, of which 196 were officially registered in India. Therefore, growing popularity among people for golf and rising enthusiasm toward this sport would drive the market for low-speed vehicles like golf carts.

“The Commercial Turf Utility Vehicle segment is expected to lead the Vehicle type segment.”

The hotels and resorts industry is completely dependent on tourism activities. According to the latest World Tourism Barometer, global travel activity rebounded sharply in the third quarter of 2021, while remaining far below pre-pandemic levels. International tourist arrivals increased by 58% in the three months ended September 2021 compared to the same period of 2020. These travel activities globally are creating demand from the hotel and resorts industry to provide the best facilities and convenient activities to their providers. For instance, in 2019, Atlanta, the Palm Dubai ordered a fleet for LSVs from Club Car.

Apart from this, hotels and resorts are now promoting battery-operated vehicles and even focusing on structures to support electric mobility solutions. In 2021, Fern Hotels and Resorts partnered with Magenta to install EV charging stations at over 84 hotels across India. A few examples of commercial turf utility vehicles are Carryall 500 (Club Car), Carryall 1500 (Club Car), 2020A ProGator (Deere & Company), and Gator TX Turf Utility Vehicle (Deere & Company). Thus, the market for commercial turf utility vehicles is largely dependent on the travel and tourism industry, and with the growth of the tourism industry, the market for commercial turf utility vehicles is predicted to grow during forecasted period.

North America is projected to be the largest regional market

North America accounts for 80% of the world’s golf cart demand, with the US accounting for 96% of the regional golf cart demand. Thus, the US is the largest country-level market in the region and accounts for more than two-thirds of the overall market, followed by Canada and Mexico. Mexico and Canada are also gaining traction due to lower manufacturing costs, low manpower costs, and favorable government policies.

The market is held strongly by established American and Asian OEMs such as Textron Inc. (US), Deere & Company (US), Club Car (US), and Yamaha Motor Co Ltd (Japan). Low-speed vehicles in the US have advanced comfort and safety technologies.

The North American low-speed vehicle market features vehicles such as golf carts, commercial turf utility vehicles, and industrial utility vehicles. Electric low-speed vehicles are widely preferred across the region because of their zero-carbon emission and noise reduction. The US government is also focusing on the electric vehicle market and even giving subsidy benefits on taxes for promoting them.

Golf courses are expected to hold the largest market share during the forecast period. The increased use of low-speed vehicles in commercial applications such as hotels and resorts and the high number of golf courses are expected to drive the North American low-speed vehicle market.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.

By Company Type: Low-speed vehicle manufacturers – 45%, Component Suppliers-40% and Others– 15%
By Designation: C Level - 35%, Directors- 35%, and Others – 30%
By Region: Asia Pacific - 40%, Europe - 30%, and North America –30%

The low-speed vehicle market is led by established players such as Textron Inc. (US), Yamaha Motor Co Ltd (Japan), The Toro Company (US), Deere & Company (US), Waev Inc (US), and Club Car (US).

Research Coverage:

The study segments the Low-speed vehicle market and forecasts the market size based on Vehicle Type { golf cart, commercial turf utility vehicle, industrial utility vehicle, and personal mobility vehicle application type (golf courses, hotels & resorts, airports, industrial facilities, and others), propulsion (electric, diesel, and gasoline), battery type (Li-Ion and Lead Acid), power output (15 KW), and region (Asia Pacific, North America, Europe, and the Rest of the World [RoW]).

The study also includes an in-depth competitive analysis of the major Low-speed vehicle manufacturers in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall Low-speed vehicle market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides them information on key market drivers, restraints, challenges, and opportunities.

Table Of Contents

1 Introduction
1.1 Objectives
1.2 Market Product Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
Figure 1 Market Segmentation: Low-Speed Vehicle Market
1.3.1 Years Considered In The Study
1.4 Currency Considered
1.5 Summary Of Changes
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
Figure 2 Low-Speed Vehicle Market: Research Design
2.1.1 Secondary Data
2.1.1.1 List Of Key Secondary Sources To Estimate Base Numbers
2.1.1.2 List Of Key Secondary Sources For Market Sizing
2.1.1.3 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakdown Of Primary Interviews
2.1.3 Sampling Techniques & Data Collection Methods
2.2 Market Size Estimation
Figure 3 Research Methodology: Hypothesis Building
2.2.1 Bottom-Up Approach
Figure 4 Bottom-Up Approach: Low-Speed Vehicle Market, By Vehicle Type & Country
2.2.2 Top-Down Approach
Figure 5 Top-Down Approach: Low-Speed Vehicle Market, By Propulsion And Application
Figure 6 Low-Speed Vehicle Market: Research Design & Methodology
2.2.3 Factor Analysis For Market Sizing: Demand And Supply-Side
2.3 Factor Analysis
2.4 Market Breakdown And Data Triangulation
Figure 7 Data Triangulation
2.5 Research Assumptions
Table 1 Assumptions
2.6 Research Limitations

3 Executive Summary
3.1 Pre- Vs Post-Covid-19 Scenario
Figure 8 Pre- & Post-Covid-19 Scenario: Low-Speed Vehicle Market Size, 2019–2027 (Usd Million)
Table 2 Low-Speed Vehicle Size: Pre- Vs. Post-Covid-19 Scenario, 2019–2027 (Usd Million)
3.2 Report Summary
Figure 9 Low-Speed Vehicle Size, By Vehicle Type, 2021 Vs. 2027

4 Premium Insights
4.1 Attractive Opportunities In Low-Speed Vehicle Market
Figure 10 Rising Demand From End Use Sectors Like Industrial Facilities And Airports To Drive The Market
4.2 Low-Speed Vehicle Market, By Vehicle Type
Figure 11 Commercial Turf Utility Vehicles Held Largest Market In 2021 (Usd Million)
4.3 Low-Speed Vehicle Market, By Propulsion
Figure 12 Electric Propulsion To Dominate The Market
4.4 Low-Speed Vehicle Market, By Battery Type
Figure 13 Li-Ion To Hold Largest Market During Forecast Period
4.5 Low-Speed Vehicle Market, By Application Type
Figure 14 Golf Courses Held Largest Market In 2021
4.6 Low-Speed Vehicle Market, By Power Output
Figure 15 4.7 Low-Speed Vehicle Market, By Region
Figure 16 North America Estimated To Account For The Largest Share Of The Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 17 Low-Speed Vehicle Market: Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Geriatric Population
Figure 18 Percentage Of Population Age 65 & Above, Us, 1996-2020
5.2.1.2 Growing Popularity For Golf
5.2.1.3 Growing Electric Vehicle Charging Infrastructure
Figure 19 Number Of Ev Charging Station Locations And Evse Ports In Us, 2021
Figure 20 Number Of Charging Stations In Top 10 Countries In Europe, 2020
5.2.2 Restraints
5.2.2.1 High Costs Restraining Adoption In Developing And Underdeveloped Regions
5.2.2.2 Lack Of Safety Standards/Equipment
5.2.3 Opportunities
5.2.3.1 Increasing Real Estate And Commercial Sector
5.2.3.2 Increasing Developments Of Autonomous And Connected Technologies
5.2.4 Challenges
5.2.4.1 Cost Reduction And Improved Energy Density Of Ev Batteries
5.3 Porter’s Five Forces Analysis
Table 3 Porter’s Five Forces Analysis
Figure 21 Porter’s Five Forces
5.3.1 Intensity Of Competitive Rivalry
5.3.2 Threat Of Substitutes
5.3.3 Bargaining Power Of Suppliers
5.3.4 Bargaining Power Of Buyers
5.3.5 Threat Of New Entrants
5.4 Case Studies
5.4.1 Golf Car Powertrain Nvh Sources And Mitigation Methods
5.4.2 Golf Carts Making Rounds In Some Communities
5.4.3 Investigation Into Conversion Of Fleet Of Plug-In-Electric Golf Carts Into Solar-Powered Vehicles Using Fuzzy Logic Control
5.4.4 Design And Construction Of An Autonomous Golf Cart; Analyzing Case Studies Of Transitioning From Human-Driving To Self-Driving Vehicles
5.4.5 Impacts Of Low-Speed Vehicles On Transportation Infrastructure And Safety
5.5 Patent Analysis
5.6 Low-Speed Vehicle: In Market Scenario
Figure 22 Low-Speed Vehicle Market Scenario, 2019–2027 (Usd Million)
5.6.1 Realistic Scenario
Table 4 Low-Speed Vehicle (Realistic Scenario), By Region, 2019–2027 (Usd Million)
5.6.2 Low Impact Scenario
Table 5 Low-Speed Vehicle Market (Low Impact Scenario), By Region, 2019–2027 (Usd Million)
5.6.3 High Impact Scenario
Table 6 Low-Speed Vehicle Market (High Impact Scenario), By Region, 2019–2027 (Usd Million)
5.7 Supply Chain Analysis
Figure 23 Supply Chain Analysis: Low-Speed Vehicle Market
5.8 Market Ecosystem
Figure 24 Low-Speed Vehicle Market Ecosystem
Table 7 Role Of Companies In Low-Speed Vehicle Market Ecosystem
5.9 Average Selling Price (Asp) Analysis
Table 8 Average Selling Price (Asp), By Region
Table 9 Average Selling Price (Asp), By Vehicle Type
5.10 Regulatory Analysis
5.10.1 Regulatory Bodies, Government Agencies, And Other Organizations
Table 10 North America: List Of Regulatory Bodies, Government Agencies, And Other Organizations
Table 11 Europe: List Of Regulatory Bodies, Government Agencies And Other Organizations
Table 12 Asia Pacific: List Of Regulatory Bodies, Government Agencies, And Other Organizations
Table 13 Rest Of World: List Of Regulatory Bodies, Government Agencies, And Other Organizations
5.10.2 Regulatory Analysis For Low-Speed Vehicles, By Country
Table 14 Us: List Of Regulations For Low-Speed Vehicles
Table 15 Canada: List Of Regulations For Low-Speed Vehicles
Table 16 Europe/Asia: List Of Regulations For Low-Speed Vehicles
5.11 Trade Analysis
Table 17 Import Trade Data: 870310 Hs Code, By Key Countries, 2020 (Thousand Usd)
Table 18 Export Trade Data: 870310 Hs Code, By Key Countries, 2020 (Thousand Usd)
Table 19 Import Trade Data: 870899 Hs Code, By Key Countries, 2020 (Thousand Usd)
Table 20 Export Trade Data: 870899 Hs Code, By Key Countries, 2020 (Thousand Usd)
Table 21 Import Trade Data: 843280 Hs Code, By Key Countries, 2020 (Thousand Usd)
Table 22 Export Trade Data: 843280 Hs Code, By Key Countries, 2020 (Thousand Usd)
5.12 Technology Trend
5.12.1 Future Is Of Electric Technology
5.12.2 Advanced Features For Luxury And Safety
5.13 Key Conferences & Events In 2022-2023
Table 23 Low-Speed Vehicle Market: Detailed List Of Conferences & Events

6 Recommendations By Marketsandmarkets
6.1 North America Is Expected To Lead The Market
6.2 Key Focus Areas: Safety Features And Electric Vehicles
6.3 Conclusion

7 Low-Speed Vehicle Market, By Vehicle Type
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
Figure 25 Low-Speed Vehicle Market, By Vehicle Type, 2021 Vs. 2027 (Usd Million)
Table 24 Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 25 Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 26 Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 27 Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
7.2 Golf Cart
7.2.1 Increase In Number Of Registrations And Investments To Drive Demand
Table 28 Golf Carts Market, By Region, 2017–2020 (Units)
Table 29 Golf Carts Market, By Region, 2021–2027 (Units)
Table 30 Golf Carts Market, By Region, 2017–2020 (Usd Million)
Table 31 Golf Carts Market, By Region, 2021–2027 (Usd Million)
7.3 Commercial Turf Utility Vehicle
7.3.1 Growth Of Hotels & Resorts To Drive Demand
Table 32 Commercial Turf Utility Vehicles Market, By Region, 2017–2020 (Units)
Table 33 Commercial Turf Utility Vehicles Market, By Region, 2021–2027 (Units)
Table 34 Commercial Turf Utility Vehicles Market, By Region, 2017–2020 (Usd Million)
Table 35 Commercial Turf Utility Vehicles Market, By Region, 2021–2027 (Usd Million)
7.4 Industrial Utility Vehicle
7.4.1 Growing Construction Sector To Drive Demand
Table 36 Industrial Utility Vehicle Market, By Region, 2017–2020 (Units)
Table 37 Industrial Utility Vehicle Market, By Region, 2021–2027 (Units)
Table 38 Industrial Utility Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 39 Industrial Utility Vehicle Market, By Region, 2021–2027 (Usd Million)
7.5 Personal Mobility Vehicle
7.5.1 Rise In Domestic Travel To Drive Demand
Table 40 Personal Mobility Vehicle Market, By Region, 2017–2020 (Units)
Table 41 Personal Mobility Vehicle Market, By Region, 2021–2027 (Units)
Table 42 Personal Mobility Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 43 Personal Mobility Vehicle Market, By Region, 2021–2027 (Usd Million)

8 Low-Speed Vehicle Market, By Power Output
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
Figure 26 Low-Speed Vehicle Market, By Power Output, 2021 Vs. 2027 (Usd Million)
Table 44 Low-Speed Vehicle Market, By Power Output, 2017–2020 (Units)
Table 45 Low-Speed Vehicle Market, By Power Output, 2021–2027 (Units)
Table 46 Low-Speed Vehicle Market, By Power Output, 2017–2020 (Usd Million)
Table 47 Low-Speed Vehicle Market, By Power Output, 2021–2027 (Usd Million)
8.2 8.2.1 Rising Demand In Golf Courses To Drive The Segment
Table 48 Table 49 Table 50 Table 51 8.3 8 –15 Kw
8.3.1 Growth Of Hospitality Sector To Drive The Segment
Table 52 8 –15 Kw: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 53 8 –15 Kw: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 54 8 –15 Kw: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 55 8 –15 Kw: Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)
8.4 >15 Kw
8.4.1 Rising Demand From Major Industries To Drive The Segment
Table 56 >15 Kw: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 57 >15 Kw: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 58 >15 Kw: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 59 >15 Kw: Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)

9 Low-Speed Vehicle Market, By Battery Type
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
Figure 27 Low-Speed Vehicle Market, By Battery Type, 2021 Vs. 2027 (Usd Million)
Table 60 Low-Speed Vehicle Market, By Battery Type, 2017–2020 (Units)
Table 61 Low-Speed Vehicle Market, By Battery Type, 2021–2027 (Units)
Table 62 Low-Speed Vehicle Market, By Battery Type, 2017–2020 (Usd Million)
Table 63 Low-Speed Vehicle Market, By Battery Type, 2021–2027 (Usd Million)
9.2 Lithium-Ion (Li-Ion)
9.2.1 Several Working Advantages Over Lead-Acid Battery To Drive Demand
Table 64 Li-Ion: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 65 Li-Ion: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 66 Li-Ion: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 67 Li-Ion: Global Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)
9.3 Lead-Acid
9.3.1 Low Efficiency And Hazardous Nature Leading To Decrease In Demand
Table 68 Lead Acid: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 69 Lead Acid: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 70 Lead Acid: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 71 Lead Acid: Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)

10 Low-Speed Vehicle Market, By Application Type
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Industry Insights
Figure 28 Low-Speed Vehicle Market, By Application, 2021 Vs. 2027 (Usd Million)
Table 72 Low-Speed Vehicle Market, By Application, 2017–2020 (Units)
Table 73 Low-Speed Vehicle Market, By Application, 2021–2027 (Units)
Table 74 Low-Speed Vehicle Market, By Application, 2017–2020 (Usd Million)
Table 75 Low-Speed Vehicle Market, By Application, 2021–2027 (Usd Million)
10.2 Golf Courses
10.2.1 Development Of New Golf Courses To Drive Demand
Table 76 Golf Courses: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 77 Golf Courses: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 78 Golf Courses: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 79 Golf Courses: Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)
10.3 Hotels & Resorts
10.3.1 Investments In Hospitality Sector To Drive Demand
Table 80 Hotels & Resorts: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 81 Hotels & Resorts: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 82 Hotels & Resorts: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 83 Hotels & Resorts: Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)
10.4 Airports
10.4.1 Increase In Airport Operations To Drive Demand
Table 84 Airports: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 85 Airports: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 86 Airports: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 87 Airports: Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)
10.5 Industrial Facilities
10.5.1 Growth Of Construction And Manufacturing Sector To Drive Demand
Table 88 Industrial Facilities: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 89 Industrial Facilities: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 90 Industrial Facilities: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 91 Industrial Facilities: Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)
10.6 Others
Table 92 Others: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 93 Others: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 94 Others: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 95 Others: Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)

11 Low-Speed Vehicle Market, By Propulsion
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
Figure 29 Low-Speed Vehicle Market, By Propulsion, 2021 Vs. 2027 (Usd Million)
Table 96 Low-Speed Vehicle Market, By Propulsion, 2017–2020 (Units)
Table 97 Low-Speed Vehicle Market, By Propulsion, 2021–2027 (Units)
Table 98 Low-Speed Vehicle Market, By Propulsion Type, 2017–2020 (Usd Million)
Table 99 Low-Speed Vehicle Market, By Propulsion Type, 2021–2027 (Usd Million)
11.2 Electric
11.2.1 Investments In Charging Infrastructure To Drive Demand
Table 100 Electric: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 101 Electric: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 102 Electric: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 103 Electric: Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)
11.3 Gasoline
11.3.1 Range Anxiety Of Electric Vehicles To Drive Demand
Table 104 Gasoline: Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 105 Gasoline: Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 106 Gasoline: Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 107 Gasoline: Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)
11.4 Diesel
11.4.1 Lack Of Charging Infrastructure In Row To Drive Demand
Table 108 Diesel: Global Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 109 Diesel: Global Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 110 Diesel: Global Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 111 Diesel: Global Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)

12 Low-Speed Vehicle Market, By Region
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions
Figure 30 Industry Insights
Figure 31 Low-Speed Vehicle Market, By Region, 2021 Vs. 2027 (Usd Million)
Table 112 Low-Speed Vehicle Market, By Region, 2017–2020 (Units)
Table 113 Low-Speed Vehicle Market, By Region, 2021–2027 (Units)
Table 114 Low-Speed Vehicle Market, By Region, 2017–2020 (Usd Million)
Table 115 Low-Speed Vehicle Market, By Region, 2021–2027 (Usd Million)
12.2 Asia Pacific
Figure 32 Asia Pacific: Low-Speed Vehicle Market, 2021 Vs. 2027 (Usd Million)
Table 116 Asia Pacific: Low-Speed Vehicle Market, By Country, 2017–2020 (Units)
Table 117 Asia Pacific: Low-Speed Vehicle Market, By Country, 2021–2027 (Units)
Table 118 Asia Pacific: Low-Speed Vehicle Market, By Country, 2017–2020 (Usd Million)
Table 119 Asia Pacific: Low-Speed Vehicle Market, By Country, 2021–2027 (Usd Million)
12.2.1 China
12.2.1.1 Growth Of Industrial Sector To Drive The Market
Table 120 China: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 121 China: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 122 China: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 123 China: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.2.2 India
12.2.2.1 Growth In Tourism And Hospitality Sectors To Drive The Market
Table 124 India: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 125 India: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 126 India: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 127 India: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.2.3 Japan
12.2.3.1 High Demand For Industrial Utility Vehicles To Drive The Market
Table 128 Japan: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 129 Japan: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 130 Japan: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 131 Japan: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.2.4 South Korea
12.2.4.1 High Growth Opportunities In Tourism Sector To Drive The Market
Table 132 South Korea: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 133 South Korea: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 134 South Korea: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 135 South Korea: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.2.5 Thailand
12.2.5.1 Affordable Golfing Demand To Drive The Market
Table 136 Thailand: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 137 Thailand: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 138 Thailand: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 139 Thailand: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.2.6 Rest Of Asia Pacific
12.3 North America
Figure 33 North America: Low-Speed Vehicle Market Snapshot
Table 140 North America: Low-Speed Vehicle Market, By Country, 2017–2020 (Units)
Table 141 North America: Low-Speed Vehicle Market, By Country, 2021–2027 (Units)
Table 142 North America: Low-Speed Vehicle Market, By Country, 2017–2020 (Usd Million)
Table 143 North America: Low-Speed Vehicle Market, By Country, 2021–2027 (Usd Million)
12.3.1 Us
12.3.1.1 Rising Demand For Zero-Emission Vehicles To Drive The Market
Table 144 Us: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 145 Us: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 146 Us: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 147 Us: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.3.2 Mexico
12.3.2.1 Growing Hospitality Sector To Drive The Market
Table 148 Mexico: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 149 Mexico: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 150 Mexico: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 151 Mexico: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.3.3 Canada
12.3.3.1 Developments In Golf Industry To Drive The Market
Table 152 Canada: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 153 Canada: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 154 Canada: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 155 Canada: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.4 Europe
Figure 34 Europe: Low-Speed Vehicle Market Snapshot In Europe
Table 156 Europe: Low-Speed Vehicle Market, By Country, 2017–2020 (Units)
Table 157 Europe: Low-Speed Vehicle Market, By Country, 2021–2027 (Units)
Table 158 Europe: Low-Speed Vehicle Market, By Country, 2017–2020 (Usd Million)
Table 159 Europe: Low-Speed Vehicle Market, By Country, 2021–2027 (Usd Million)
12.4.1 Uk
12.4.1.1 Growing Tourism Industry To Drive The Market
Table 160 Uk: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 161 Uk: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 162 Uk: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 163 Uk: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.4.2 France
12.4.2.1 Growing Popularity Of Golf To Drive The Market
Table 164 France: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 165 France: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 166 France: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 167 France: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.4.3 Germany
12.4.3.1 Increase In Popularity Of Golf To Drive The Market
Table 168 Germany: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 169 Germany: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 170 Germany: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 171 Germany: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.4.4 Nordic Countries
12.4.4.1 Tourism Development To Drive The Market
Table 172 Nordic: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 173 Nordic: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 174 Nordic: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 175 Nordic: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.4.5 Italy
12.4.5.1 Growth Of Tourism Sector To Drive The Market
Table 176 Italy: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 177 Italy: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 178 Italy: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 179 Italy: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.4.6 Spain
12.4.6.1 Increasing Golf Popularity To Drive The Market
Table 180 Spain: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 181 Spain: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 182 Spain: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 183 Spain: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.5 Rest Of The World (Row)
Figure 35 Row: Low-Speed Vehicle Market, 2021 Vs. 2027 (Usd Million)
Table 184 Row: Low-Speed Vehicle Market, By Country, 2017–2020 (Units)
Table 185 Row: Low-Speed Vehicle Market, By Country, 2021–2027 (Units)
Table 186 Row: Low-Speed Vehicle Market, By Country, 2017–2020 (Usd Million)
Table 187 Row: Low-Speed Vehicle Market, By Country, 2021–2027 (Usd Million)
12.5.1 South Africa
12.5.1.1 Increase In Number Of Golf Courses To Drive The Market
Table 188 South Africa: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 189 South Africa: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 190 South Africa: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 191 South Africa: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.5.2 Brazil
12.5.2.1 Golf Hotels And World-Class Golf Courses To Drive The Market
Table 192 Brazil: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 193 Brazil: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 194 Brazil: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 195 Brazil: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)
12.5.3 Iran
12.5.3.1 Growth Of Travel And Tourism Industry To Drive The Market
Table 196 Iran: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Units)
Table 197 Iran: Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Units)
Table 198 Iran: Low-Speed Vehicle Market, By Vehicle Type, 2017–2020 (Usd Million)
Table 199 Iran: Global Low-Speed Vehicle Market, By Vehicle Type, 2021–2027 (Usd Million)

13 Competitive Landscape
13.1 Overview
13.2 Low-Speed Vehicle Market Share Analysis, 2020
Table 200 Low-Speed Vehicle Market Share Analysis, 2020
Figure 36 Share Of Leading Companies In Low-Speed Vehicle Market, 2020
13.3 Company Evaluation Quadrant: Low-Speed Vehicle Market Suppliers
Figure 37 Competitive Evaluation Matrix: Low-Speed Vehicle Market Suppliers, 2021
13.3.1 Star
13.3.2 Emerging Leaders
13.3.3 Pervasive
13.3.4 Participants
13.3.5 Competitive Benchmarking
Table 201 Low-Speed Vehicle Market: Company Product Footprint, 2021
Table 202 Low-Speed Vehicle Market: Company Application Footprint, 2021
Table 203 Low-Speed Vehicle: Company Region Footprint, 2021
Figure 38 Details On Key Developments By Leading Players
13.4 Competitive Scenario
13.4.1 New Product Launches
Table 204 Product Launches, 2018–2022
13.4.2 Deals
Table 205 Deals, 2019–2022
13.4.3 Other Developments, 2019–2022
Table 206 Other Developments, 2019–2022
13.5 Key Player Strategies/Right To Win, 2019–2021
Figure 39 Companies Adopted New Product Developments And Partnerships As Key Growth Strategies, 2019–2021
13.6 Revenue Analysis Of Top Listed/Public Players
Figure 40 Revenue Analysis Of Top Listed/Public Players, 2018-2020

14 Company Profiles
14.1 Key Players
(Business Overview, Products/Services/Solutions Offered, Mnm View, Key Strengths And Right To Win, Strategic Choices Made, Weaknesses And Competitive Threats, Recent Developments)*
14.1.1 Textron Inc
Table 207 Textron Inc: Business Overview
Figure 41 Textron Inc: Company Snapshot
Table 208 Textron Inc: Products Offered
Table 209 Textron Inc: New Product Developments
Table 210 Textron Inc: Deals
14.1.2 Deere & Company
Table 211 Deere & Company: Business Overview
Figure 42 Deere & Company: Company Snapshot
Table 212 Deere & Company: Products Offered
Table 213 Deere Company: New Product Developments
Table 214 Deere & Company: Deals
Table 215 Deere & Company: Other Development
14.1.3 Yamaha Motor Co. Ltd
Table 216 Yamaha Motor Co Ltd: Business Overview
Figure 43 Yamaha Motor Co Ltd: Company Snapshot
Table 217 Yamaha Co. Ltd: Products Offered
Table 218 Yamaha Motor Co Ltd: New Product Developments
Table 219 Yamaha Motor Co Ltd: Deals
Table 220 Yamaha Motor Co Ltd: Other Development
14.1.4 The Toro Company
Table 221 The Toro Company: Business Overview
Figure 44 The Toro Company: Company Snapshot
Table 222 The Toro Company: Products Offered
Table 223 The Toro Company: New Product Developments
Table 224 The Toro Company: Deals
14.1.5 Kubota Corporation
Table 225 Kubota Corporation: Business Overview
Figure 45 Kubota Corporation: Company Snapshot
Table 226 Kubota Corporation: Products Offered
Table 227 Kubota Corporation: New Product Developments
Table 228 Kubota Corporation: Deals
Table 229 Kubota Corporation: Other Development
14.1.6 Club Car
Table 230 Club Car: Business Overview
Table 231 Club Car: Products Offered
Table 232 Club Car: New Product Developments
Table 233 Club Car: Deals
Table 234 Club Car: Other Development
14.1.7 American Landmaster
Table 235 American Landmaster: Business Overview
Table 236 American Landmaster: Products Offered
Table 237 American Landmaster: New Product Developments
14.1.8 Columbia Vehicle Group Inc
Table 238 Columbia Vehicle Group Inc: Business Overview
Table 239 Columbia Vehicle Group Inc: Products Offered
Table 240 Columbia Vehicle Group Inc: New Product Developments
Table 241 Columbia Vehicle Group Inc: Deals
14.1.9 Waev Inc
Table 242 Waev Inc: Business Overview
Table 243 Waev Inc: Products Offered
Table 244 Waev Inc: New Product Developments
Table 245 Waev Inc: Deals
14.1.10 Bradshaw Electric Vehicles
Table 246 Bradshaw Electric Vehicles: Business Overview
Table 247 Bradshaw Electric Vehicles: Products Offered
Table 248 Bradshaw Electric Vehicles: Deals
*Business Overview, Products/Services/Solutions Offered, Mnm View, Key Strengths And Right To Win, Strategic Choices Made, Weaknesses And Competitive Threats, Recent Developments Might Not Be Captured In Case Of Unlisted Companies.
14.2 Additional Players
14.2.1 Agt Electric Cars
Table 249 Agt Electric Cars: Company Overview
14.2.2 Bintelli Electric Vehicles
Table 250 Bintelli Electric Vehicles: Company Overview
14.2.3 Suzhou Eagle Electric Vehicle Manufacturing
Table 251 Suzhou Eagle Electric Vehicle Manufacturing: Company Overview
14.2.4 Speedways Electric
Table 252 Speedways Electric: Company Overview
14.2.5 Marshell
Table 253 Marshell: Company Overview
14.2.6 Garia
Table 254 Garia: Company Overview
14.2.7 Star Ev
Table 255 Star Ev: Company Overview
14.2.8 Hdk Electric Vehicle
Table 256 Hdk Electric Vehicle: Company Overview
14.2.9 Tropos Motors
Table 257 Tropos Motors: Company Overview
14.2.10 Pilot Cars
Table 258 Pilot Cars: Company Overview
14.2.11 Moto Electric Vehicles
Table 259 Moto Electric Vehicles: Company Overview
14.2.12 Acg Inc
Table 260 Acg Inc: Company Overview
14.2.13 Citecar Electric Vehicles
Table 261 Citecar Electric Vehicles: Company Overview
14.2.14 Cruise Car Inc
Table 262 Cruise Car Inc: Company Overview
14.2.15 Ligier Group
Table 263 Ligier Group: Company Overview
14.2.16 Kawasaki Motor Corporation Usa
Table 264 Kawasaki Motor Corporation Usa: Company Overview

15 Appendix
15.1 Insights Of Industry Experts
15.2 Discussion Guide
15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
15.4 Available Customizations
15.4.1 Global Low-Speed Vehicle Market, By Propulsion Type, By Country
15.4.1.1 North America (Us, Canada, Mexico)
15.4.1.2 Europe (Uk, France, Germany, Nordic, Italy, And Spain)
15.4.1.3 Apac (China, India, Japan, South Korea, And Thailand)
15.4.2 Global Low-Speed Vehicle Market, By Power Output, By Country
15.4.2.1 North America (Us, Canada, Mexico)
15.4.2.2 Europe (Uk, France, Germany, Nordic, Italy, And Spain)
15.4.2.3 Apac (China, India, Japan, South Korea, And Thailand)
15.5 Related Reports
15.6 Author Details

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