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.
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.
Price and performance will be the attractive point for consumers. For the fierce competition, consolidation of Micro EVs industry is expected to appear.
According to this study, over the next five years the Micro Electric Automotive (Micro EVs) market will register a 5.1% CAGR in terms of revenue, the global market size will reach US$ 9110 million by 2024, from US$ 7100 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Micro Electric Automotive (Micro EVs) business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Micro Electric Automotive (Micro EVs) market by product type, application, key manufacturers and key regions and countries.
This study considers the Micro Electric Automotive (Micro EVs) value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Lead-acid Battery EVs
Lithium-ion Battery EVs
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
CitEcar Electric Vehicles
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Micro Electric Automotive (Micro EVs) consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Micro Electric Automotive (Micro EVs) market by identifying its various subsegments.
Focuses on the key global Micro Electric Automotive (Micro EVs) manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Micro Electric Automotive (Micro EVs) with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Micro Electric Automotive (Micro EVs) submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.