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Micro electric vehicle market to grow at a CAGR of 17.26% during the period 2016-2020

Tuesday, November 22, 2016 7:28
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Micro electric vehicles are vehicles that are engineered with battery electric propulsion systems with a power rating of 4 kWh-15 kWh. They come in two to four-seater vehicle options. This class of vehicles was earlier considered in the electric vehicles category. However, with increased demand for micro electric vehicles (and rapid market growth), they are now considered an independent category of vehicles. The global micro electric vehicles market is primarily classified into two segments: quadricycles and golf carts and micro cars.

Technavio’s analysts forecast the global micro electric vehicle market to grow at a CAGR of 17.26% during the period 2016-2020.

Covered in this report 
The report covers the present scenario and the growth prospects of the global micro electric vehicle market for 2016-2020. To calculate the market size, the report considers the revenue generated from the on volume sales of micro electric vehicles in the global market.

The market is divided into the following segments based on geography: 
• Americas
• APAC
• EMEA

Technavio’s report, Global Micro Electric Vehicle Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. 

Key vendors 
• Ingersoll Rand
• Polaris Industries
• Smart Automobile Company
• Textron
• Yamaha Motors 

Other prominent vendors 
• Italcar
• ParCar
• Rhoades Car

Market driver 
• Dedicated consortium for development of micro electric vehicles: All-new designs and vehicle platforms drive demand
• For a full, detailed list, view our report 

Market challenge 
• Undeveloped infrastructure due to limited charging stations and reliability issues in developing economies
• For a full, detailed list, view our report 

Market trend 
• Improved Li-ion batteries, lighter construction, and increasing automation for improved drivability and maneuverability
• For a full, detailed list, view our report 

Key questions answered in this report 
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors? 

You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.

 

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