Global Low Speed Electric Vehicle (LSEV) Market – Size, Share, Development, Growth and Demand Forecast to 2025 – iCrowdNewswire
 

Jul 13, 2018 4:57 PM ET

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Global Low Speed Electric Vehicle (LSEV) Market – Size, Share, Development, Growth and Demand Forecast to 2025

iCrowdNewswire - Jul 13, 2018

The growth of the market is majorly driven by rising environmental awareness and increasing government support.

Insights into market segments

On the basis of voltage, the global LSEV market has been categorised into 24V, 36V, 48V, 60V, and 72V. Of these, 48V is the most preferred voltage category due to its preference in electric scooters as it provides an optimal power to price ratio. However, the fastest growth during the forecast period is expected from the 72V category, due to the rising demand for high-speed LSEVs which use this voltage level.

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Low Speed Electric Vehicle

Based on product, the LSEV market is categorized into two-wheelers, three-wheelers, and four-wheelers. Two-wheeler is the most preferred category due to the popularity of electric bicycles and electric scooters, and their comparatively high use in personal transport than other electric vehicles. In addition, the fastest growth during the forecast period is expected from the two-wheeler category.

Electric scooters can reach top-speeds of 25-50km/hr, and are comfortable for long distance commuting. These characteristics of electric scooters, coupled with their lower price when compared to electric motorcycles, would continue to drive their market growth during the forecast period.

Asia-Pacific is the largest LSEV market

Globally, Asia-Pacific is the largest market for low speed electric vehicles, followed by North America and Europe. The Asia-Pacific market is led by China, which accounted for the largest share in terms of revenue in 2017, valued at more than 90%.

E-bikes is the largest product category in Europe

Europe is the second largest LSEV market in the world. E-bikes account for a majority of electric vehicles sold in the region. The e-bike market in Europe has seen a significant growth during the last few years; Germany, France, and Italy are the largest e-bike markets in the region.

Electric Motorcycles is expected to witness the fastest growth in North America

E-bikes account for the majority of electric vehicle sales in the North American LSEV market. The markets for kick scooters and mono wheels are at a nascent stage in the region. However, these categories are increasingly being seen as convenient modes of transportation for short trips.

Explore full research report at: https://www.psmarketresearch.com/market-analysis/low-speed-electric-vehicle-market

LSEV Market Competitive Landscape

Some of the major players operating in the LSEV industry are Terra Motors Corporation, Zero Motorcycles Inc., Changzhou Yufeng Vehicle Co. Ltd., Jiangsu Kingbon Vehicle Co. Ltd., Hero Electric Vehicles Pvt. Ltd., Jiangsu East Yonsland Vehicle Manufacturing Co. Ltd., ZHIDOU Electric.

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Keywords: Low speed Electric Vehicle, Low Speed Electric Vehicle Market Analysis, Low Speed Electric Vehicle Market Forecast, Low Speed Electric Vehicle Market Growth, Low-speed Electric Vehicle Market, LSEV, LSEV Market
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