About this market
Development of foldable LSEVs to drive growth in the market. Factors such as growing traffic congestion in major cities across the globe is inspiring various developments in automotive ecosystem. The analysts have predicted that the low speed electric vehicle (LSEV) market will register a CAGR of almost 33% by 2023.
Market Overview
Adoption of 3D printing technology for vehicle customization and faster LSEV roll-out
The growing demand for low-cost modes of personal transportation is driving the sales of LSEVs across the world.
Growing availability of substitutes for LSEVs
The growing popularity of microcars, golf carts, and other traditional forms of personal transport poses a major challenge to the growth of the LSEV market.
For the detailed list of factors that will drive and challenge the growth of the low speed electric vehicle market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Byvin and Groupe Renault the competitive environment is quite intense. Factors such as the adoption of 3D printing technology for vehicle customization and faster LSEV roll-out and the development of foldable LSEVs, will provide considerable growth opportunities to low speed electric vehicle manufactures. Byvin, Groupe Renault, LIGIER GROUP, Polaris Industries, Shandong Shifeng (Group), and Yujie Group are some of the major companies covered in this report.