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 3,000 pounds. It cannot be powered by gas or diesel fuel.
The global market for Low Speed Electric Vehicles is estimated to increase from US$ 6981.8 million in 2021 to reach US$ 14880 million by 2028, exhibiting a CAGR of 11.4% during 2022-2028. Keeping in mind the uncertainties of COVID-19 and Russia-Ukraine War, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
In China, main manufacturers of low speed electric vehicles include Letin, Jinpeng and Honri, etc. The top three players hold a share nearly 55%. The largest China market is East China, holds a share about 55%, followed by Central China and North China, both holding a share about 13 percent.
Report Coverage
This latest report provides a deep insight into the global Low Speed Electric Vehicles market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, value chain analysis, etc.
This report aims to provide a comprehensive picture of the global Low Speed Electric Vehicles market, with both quantitative and qualitative data, to help readers understand how the Low Speed Electric Vehicles market scenario changed across the globe during the pandemic and Russia-Ukraine War.
The base year considered for analyses is 2021, while the market estimates and forecasts are given from 2022 to 2028. The market estimates are provided in terms of revenue in USD millions and volume in K Units.
Market Segmentation:
The study segments the Low Speed Electric Vehicles market and forecasts the market size by Body Length (2.8m and Below and Above 2.8m,), by Speed (Below 50km/h and 50-70km/h.), and region (APAC, Americas, Europe, and Middle East & Africa).
Segmentation by body length
2.8m and Below
Above 2.8m
Segmentation by speed
Below 50km/h
50-70km/h
Segmentation 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
Major companies covered
Letin
Jinpeng
Honri
ECAR
Entu
GreenWheel
Hantour
Jiayuan
Lichi
Shifeng
Chapter Introduction
Chapter 1: Scope of Low Speed Electric Vehicles, Research Methodology, etc.
Chapter 2: Executive Summary, global Low Speed Electric Vehicles market size (sales and revenue) and CAGR, Low Speed Electric Vehicles market size by region, by body length, by speed, historical data from 2017 to 2022, and forecast to 2028.
Chapter 3: Low Speed Electric Vehicles sales, revenue, average price, global market share, and industry ranking by company, 2017-2022
Chapter 4: Global Low Speed Electric Vehicles sales and revenue by region and by country. Country specific data and market value analysis for the U.S., Canada, Europe, China, Japan, South Korea, Southeast Asia, India, Latin America and Middle East & Africa.
Chapter 5, 6, 7, 8: Americas, APAC, Europe, Middle East & Africa, sales segment by country, by body length, and body length.
Chapter 9: Analysis of the current market trends, market forecast, opportunities and economic trends that are affecting the future marketplace
Chapter 10: Manufacturing cost structure analysis
Chapter 11: Sales channel, distributors, and customers
Chapter 12: Global Low Speed Electric Vehicles market size forecast by region, by country, by body length, and speed.
Chapter 13: Comprehensive company profiles of the leading players, including Letin, Jinpeng, Honri, ECAR, Entu, GreenWheel, Hantour, Jiayuan and Lichi, etc.
Chapter 14: Research Findings and Conclusion