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Global Light Electric Vehicle Market- By Type (Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV)), and End User (E-forklifts, Light utility vehicles (LUVs), Low speed electric vehicles (LSEVs / micro EVs), E-motorbikes, E-golf carts), and By Region (North America, Europe, Asia Pacific, South America, and Middle East, & Africa)- Global forecast from 2020-2027.
Global Light Electric Vehicle Market Overview:
The light electric vehicle refers to two or three-wheeled vehicle maximum total mass not exceeding up to 100 kilograms. The light electric vehicle is easy to drive and operate. In the next few years, light electric vehicles will introduce sensors and be improved to achieve some of the automation and intelligent functions that many high-end electric vehicles have today.
Global Light Electric Vehicle Market Insights
The global light electric vehicle market expected to reach to 4.2 million units by 2027 and rise with an exponential CAGR in the forecast period from 2020-2027. With emerging environmental concerns, pollution level and depletion of oil reserves have fueled the market demand for the global light electric vehicle market.
The light electric vehicles are very cost-effective when compared its productivity with the vehicle run on gasoline or battery. As electric vehicles are cost-efficient, zero greenhouse emission property, thus making them more attractive in the emerging electric vehicle market. Also, rising automation in every industry will fuel the market share of the electric automobile market as sensors integrated with them. Therefore, it will emerge the market value of the LEV in the future.
Moreover, the multiple functions in LEV, such as power management, consumption as well as voltage regulation, are controlled by power products which exceptionally manufactured to manage all the significant tasks of LEV. LEV provides more extended reliability to the user as it avoids the chance of downtime and also reduces the chances of control failure in the vehicle.
Furthermore, LEV has various benefits associated with it as reduced physical efforts compare with regular bicycles. Also, LEV can be charged at home overnight. In addition to the benefits of a light electric vehicle, it provides flexibility in transportation, cost-effective compared to gasoline with electricity cost. Also, it reduces pollution from li-ion batteries and weighs less than lead-acid batteries. LEV provides a new mobility concept and thus, attracting the market of two and three-wheelers. Therefore, LEV will propel the market growth of the automobile industry in the forecast period.
Growth Driver
Flexibility of transportation
The light electric vehicle provides flexibility in transportation in two-wheeler and three-wheeler users. The light electric vehicle has a supercharger network that can quickly charge the vehicle at home. Thus, reduce the cost associated with a vehicle that runs on gasoline and oil than on electricity.
Zero carbon emission
The light electric vehicles run on electricity and are easy to operate and have smart functions as well. There are exclusive power products installed in it to manage the power voltage, management, and safety features of the vehicle. Moreover, high power electric motors installed in the vehicle, thus, reduce the cost and produce zero carbon emission greenhouse gas.
By Type Segmental Analysis
Based on type, the global light electric vehicle market classified into Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV). The Hybrid electric vehicle segment accounted for the largest share of the market is expected to grow at a higher rate during the forecast period from 2020-2027. The hybrid electric vehicle has a twin power engine that runs on a gasoline engine and electric motor. It provides clean mobility and cut fuel cost and conserve energy. The hybrid vehicle has better efficiency than a battery vehicle as a hybrid vehicle has an electric motor, which reduces the chances of failure and downtime. Also, it has various power regulated products installed that enhance the functioning and management of the light electric vehicle. Therefore, the hybrid engine market demand is fueling the light electric vehicle market.
By End-user Segmental Analysis
Based on the End-user, the global light electric vehicle segmented into E-forklifts, Light utility vehicles (LUVs), Low-speed electric vehicles (LSEVs / micro EVs), E-motorbikes, E-golf carts. The low-speed electric vehicles (LSEVs / micro EVs) has emerged the market share of the global light electric vehicle market. As people mainly opt for low-speed electric vehicles for short-distance traveling and are cost-effective. These vehicles run on the speed of 20 miles per hour, which is efficient for shorter distance traveling. Moreover, the light electric vehicle has electric motor provide flexibility in charging as well have zero carbon mission property. Therefore, the light electric vehicle market share is propelling owing to the shorter distance travel vehicle segment owned by the low-speed electric vehicle market.
Region Segmental Analysis
Based on geography, the global light electric vehicle market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific expected to hold the largest share of the global light electric vehicle market. The government of various countries like India, China, and Japan is promoting the adoption of a light electric vehicle by installing multiple charging stations and increasing the manufacturing of the electric vehicle. It is mainly owing to reduce the pollution level, conserving oil reserves, improvement of environmental hazards, and promote green and clean mobility in the future. Therefore, the light electric vehicle will expand the market share in the Asia Pacific region.
Competitor Analysis
Companies such as Systems, Inc., AESC, Altair Nano Technologies, BAK, Blue Energy Co. Ltd., BYD Auto, CALB, CBAK Energy Technology Inc, Continental AG, Deutsche ACCUmotive, Electrovaya, Enerdel, EnerSys, Enertech, E-One Moli Energy, Exide Technologies, Gotian Inc, GS Yuasa Corp, Hitachi Vehicle Energy Ltd, and others are key players in the global light electric vehicle market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global light electric vehicle manufacturing companies
- Research organizations and consulting companies’ light electric vehicle
- Regulatory bodies
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Type
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
By End-User
- E-forklifts
- Light utility vehicles (LUVs)
- Low speed electric vehicles (LSEVs / micro EVs)
- E-motorbikes
- E-golf carts
By Region
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
Global Light Electric Vehicle Market
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2019
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Economic Factor Analysis
- Global Light Electric Vehicle Market Overview
- Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Market Share & Forecast, 2016-2027
- By Type
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- By End-User
- E-forklifts
- Light utility vehicles (LUVs)
- Low speed electric vehicles (LSEVs / micro EVs)
- E-motorbikes
- E-golf carts
- By Region
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
- By Type
- Demand
- Market Size & Forecast, 2016-2027
- Europe Light Electric Vehicle Market Overview
- Europe Light Electric Vehicle Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Europe Light Electric Vehicle Market Share & Forecast, 2016-2027
- By Type
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- By End-User
- E-forklifts
- Light utility vehicles (LUVs)
- Low speed electric vehicles (LSEVs / micro EVs)
- E-motorbikes
- E-golf carts
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Light Electric Vehicle Market
- By Type
- Demand
- Europe Light Electric Vehicle Size & Forecast, 2016-2027
- North America Light Electric Vehicle Market Overview
- North America Light Electric Vehicle Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- North America Light Electric Vehicle Market Share & Forecast, 2016-2027
- By Type
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- By End-User
- E-forklifts
- Light utility vehicles (LUVs)
- Low speed electric vehicles (LSEVs / micro EVs)
- E-motorbikes
- E-golf carts
- By Country
- US
- Canada
- Mexico
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Light Electric Vehicle Market
- By Type
- Demand
- North America Light Electric Vehicle Market Size & Forecast, 2016-2027
- Asia Pacific Light Electric Vehicle Overview
- Asia Pacific Light Electric Vehicle Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Asia Pacific Light Electric Vehicle Market Share & Forecast, 2016-2027
- By Type
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- By End-User
- E-forklifts
- Light utility vehicles (LUVs)
- Low speed electric vehicles (LSEVs / micro EVs)
- E-motorbikes
- E-golf carts
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Company Market Share (Top 3-5)
- Economic Impact Study on Asia Pacific Light Electric Vehicle Market
- By Type
- Demand
- Asia Pacific Light Electric Vehicle Market Size & Forecast, 2016-2027
- South America Light Electric Vehicle Market Overview
- South America Light Electric Vehicle Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- South America Light Electric Vehicle Market Share & Forecast, 2016-2027
- By Type
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- By End-User
- E-forklifts
- Light utility vehicles (LUVs)
- Low speed electric vehicles (LSEVs / micro EVs)
- E-motorbikes
- E-golf carts
- By Country
- Brazil
- Argentina
- Rest of South America
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Light Electric Vehicle Market
- By Type
- Demand
- South America Light Electric Vehicle Market Size & Forecast, 2016-2027
- Middle East & Africa Light Electric Vehicle Market Overview
- Middle East & Africa Light Electric Vehicle Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Middle East & Africa Light Electric Vehicle Market Share & Forecast, 2016-2027
- By Type
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- By End-User
- E-forklifts
- Light utility vehicles (LUVs)
- Low speed electric vehicles (LSEVs / micro EVs)
- E-motorbikes
- E-golf carts
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Light Electric Vehicle Market
- By Type
- Demand
- Middle East & Africa Light Electric Vehicle Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- A123 Systems, Inc.
- AESC
- Altair Nano Technologies
- BAK
- Blue Energy Co. Ltd.
- BYD Auto
- CALB
- CBAK Energy Technology Inc
- Continental AG
- Deutsche ACCUmotive
- Electrovaya
- Enerdel
- EnerSys
- Enertech
- E-One Moli Energy
- Exide Technologies
- Gotian Inc
- GS Yuasa Corp
- Hitachi Vehicle Energy Ltd
- Other players
