The Light Electric Vehicles Global Market Report 2023, provides comprehensive information on the light electric vehicles market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Light Electric Vehicles Global Market Report 2023, the global light electric vehicles market size is expected to grow from $71.17 billion in 2022 to $78.21 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global light electric vehicles market size is expected to grow to $111.58 billion in 2027 at a CAGR of 9.3%.
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Product innovation is a key trend gaining popularity in the light electric vehicles market. Major companies operating in the light electric vehicles market are focused on developing innovative products to strengthen their position in the market. For instance, in June 2021, E-Z-GO, a US-based company that manufactures personal, golf, and utility vehicles launched E-Z-GO Liberty. The first vehicle in its field to provide four forward-facing seats in a small, golf-cart-sized footprint. It offers a roomy second row for passengers and plenty of storage space while having a shorter wheelbase than other industry models with four forward-facing seats. Comparing it to other cars, its shorter wheelbase gives improved maneuverability and a smaller turning radius. Customers can select from a range of golf cart attachments, such as a cargo storage holder or golf bag holder, that attach to Liberty’s 2-inch rear universal hitch receiver.
The light electric vehicles market is segmented:
1) By Product: Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV)
2) By Component Type: Battery Pack, Electric motor, Motor controller, Inverters, Power controller, E-brakes controller, Power electronics
3) By Power Output: Less than 6kW, 6-9 Kw, 9-15 Kw
4) By Vehicle Type: e-ATV, e-bike, e-scooter, e-motorcycle, neighborhood electric vehicle, e-lawn mower, Electric industrial vehicle, Autonomous forklifts, Automated guided vehicles
5) By Application: Personal Mobility, Shared Mobility, Recreation and Sport, Commercial
Asia-Pacific was the largest region in the light electric vehicles market in 2022.
The table of contents in TBRC’s light electric vehicles market report includes:
1. Executive Summary
2. Light Electric Vehicles Market Characteristics
3. Light Electric Vehicles Market Trends And Strategies
4. Light Electric Vehicles Market – Macro Economic Scenario
5. Light Electric Vehicles Market Size And Growth
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26. Africa Light Electric Vehicles Market
27. Light Electric Vehicles Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Light Electric Vehicles Market
29. Light Electric Vehicles Market Future Outlook and Potential Analysis
30. Appendix
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