Low-speed Vehicle Industry Global 2019 Size, Share, Trends, And Market Analysis

Posted by Abhijeet Bendre on January 29th, 2019

Market Research Future published report on “Global Low-speed Vehicle Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023. Low-speed Vehicle Market Can Attain an Outstanding Valuation of USD 11,509.6 Mn by 2023. Low-speed Vehicle Market Segmentation by Power Output (<8kW, 8-15kW, >15kW), by Propulsion (Diesel, Electric, Gasoline), by Application (Industrial Utility, Golf Cart, Personnel Carrier, Public Transport Vehicle), and Region - Global Report Forecast till 2023

Browse Complete Report Information At: https://www.marketresearchfuture.com/reports/low-speed-vehicle-market-5488

The global low-speed vehicle market is garnering much attention from various sectors due to which it can expect a smooth run with 5% CAGR during the forecast period (2018-2023). During that time, its valuation can grow from USD 8,613.3 million in 2017 to USD 11,509.6 million by 2023. Market Research Future’s (MRFR) detailed report on the market has its focus on segments, drivers, and competitive analysis of the entire market. This can give a peek into the future market demography and enable market players in having strategies planned accordingly.

North America is leading the market with its market valuation pinned at USD 3,473.8 million in 2018. The regional market value can go up to USD 4,456.5 million by 2023 with an impressive 5.1% CAGR during the forecast period. Golf is a favorite sport in the region, and infrastructural superiority of the region are helping the market in staying ahead of its competitors. In addition, several market titans are based out of the region which provides sufficient traction to the market.

Europe has the second largest market share, and it exhibits similar features like that of North America. The regional market has a valuation of USD 2,509.7 million in 2018 which is expected to scale and exceed to USD 3,128.3 million by 2023 at a 4.5% CAGR during the forecast period.

The APAC can turn the table on the global players. The region has several countries investing heavily in refurbishing their industrial sectors which, as a consequence, is generating huge demand for low-speed vehicles. The regional low-speed vehicle market is eyeing for a valuation of USD 2,784.2 million by 2023 at a meteoric CAGR of 5.8% during the forecast period.

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