Global Light Electrical Vehicle Market Overview:
A light electric vehicle is a land vehicle propelled by an electric motor and powered by an energy storage device such as a battery or fuel cell. Their allure stems in part from their low initial investment as well as their low operational and maintenance costs. Because of these factors, they are accessible to a large portion of the global population, including those in emerging markets. LEVs also have the advantage of being easy to charge on the standard power grid. Most importantly, they meet an increasing number of zero-emissions mandates. Stringent emission regulations and government financial assistance are driving global demand for light electric vehicles.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Emergence of Hybrid Battery Vehicles
Market Growth Drivers:
Upsurge in Fuel Prices and Rising Popularity of E-MTB
Challenges:
Stringent Government Laws and Terminologies regarding Light Electric Vehicles and Lack of Infrastructure in Rural Areas
Restraints:
High Infrastructural Cost
Opportunities:
Increasing Environmental Concerns across the Globe and Rising Opportunities in Developing Nations
Competitive Landscape:
The demand for Light Electrical Vehicle is increasing. The industry is segmented, but it is predicted to grow as rise in production of electric vehicles and increasing pollution rate, among other factors, drive the market forward. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position.
Some of the key players profiled in the report are Robert Bosch (Germany), Yamaha Motor Company (Japan), Honda Motor Company (Japan), Harley-Davidson (United States), Tata Motors (India), KTM (Austria), TVS Motor Company (India), Damon Motors Inc. (Canada), Merida Industry Co. Ltd (Taiwan) and Energica Motor Company (Italy). Additionally, following companies can also be profiled that are part of our coverage like Ather Energy (India), Unagi (United States) and Bolt (Estonia). Analyst at AMA Research see India Vendors to retain maximum share of Global Light Electrical Vehicle market by 2030. Considering Market by Technology, the sub-segment i.e. Plug-in will boost the Light Electrical Vehicle market. Considering Market by Voltage, the sub-segment i.e. 36V will boost the Light Electrical Vehicle market. Considering Market by Battery Type, the sub-segment i.e. Sealed Lead Acid will boost the Light Electrical Vehicle market.
In March 2022 Yamaha Motor Company had announced the launch of EMF Electric Scooter in Taiwan as its second electric scooter with a swappable battery system through its ongoing collaboration with Gogoro Inc. The EMF will be able to use the many GoStation battery-swapping stations installed throughout Taiwan by Gogoro Energy Network.
What Can be Explored with the Light Electrical Vehicle Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Light Electrical Vehicle Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Light Electrical Vehicle
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Light Electrical Vehicle market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Light Electrical Vehicle market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Automotive and End-use industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.