Product Code: A53576
Personal micro electric vehicles (EVs) are small, lightweight electric vehicles meant for personal usage, such as short journeys and commutes. The personal segment of the micro electric vehicle market is booming, with tendencies towards personalization, eco-friendliness, and practicality. In addition, electric microcars offer affordability, a long battery range, and government incentives that make them lucrative for personal usage.
Commercial micro electric vehicles (EVs) are intended for use in a variety of purposes, including last-mile delivery, goods transportation, and passenger transportation. When compared to conventional automobiles, these vehicles are more efficient, ecologically friendly, and cost less. It is an appealing solution for companies and governments trying to decrease their carbon emissions and operating costs. In addition, electric golf carts are frequently employed in commercial venues such as resorts, theme parks, airports, and university campuses. These vehicles are appropriate for cargo transportation, minor maintenance, and cleaning.
The micro electric vehicle market is a fast-expanding sector with a wide range of uses, including commercial use. Goods delivery has become an important part of the logistics sector as e-commerce and online shopping have grown in popularity. Micro electric vehicles are great for goods delivery since they are ideal for negotiating crowded metropolitan areas. Moreover, micro electric vehicles are being used for transportation on university and corporate campuses. They are efficient for traversing hectic areas, and their low noise levels make them an ideal option for use in peaceful zones.
Moreover, electric micro vehicles are used for last-mile delivery services by companies like UPS and DHL. The compact size and flexibility of these vehicles make them ideal for driving through crowded urban areas and make deliveries possible to small residences. For instance, in June 2022, UPS unveiled the "UPS Delivery Vehicle," a new micro electric vehicle (EV) designed for urban areas and delivery purposes. This micro-EV is powered by a rechargeable lithium-ion battery, and can travel up to 100 km on a full charge. It can also carry up to 300 kg of cargo and has a cargo capacity of 1.3 cubic meters. This micro-EV is part of UPS's plan to use zero-emission vehicles for over one billion deliveries per year by 2025.
The micro electric vehicle market is segmented based on battery type, application, type, and region. By battery type, it is segmented into lead acid and lithium-ion. As per application, it is classified into commercial, personal, and public utilities. Depending on type, it is categorized into microcars; and golf, utility, and neighborhood electric vehicles. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some leading companies profiled in the report comprises of: Toyota Motor Corporation, Yamaha Golf-Car Company, Italcar Industrial S.r.l., Renault Group, Textron Inc., Polaris Inc., Club Car, LLC, PMV Electric Private Ltd., Shandong Shifeng (Group) Co., Ltd., and Mahindra Electric Mobility Limited.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the micro electric vehicle market analysis from 2021 to 2031 to identify the prevailing micro electric vehicle market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the micro electric vehicle market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global micro electric vehicle market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Battery Type
- Lead acid battery
- Lithium-ion battery
By Type
- Micro cars
- Golfcarts, utility, and neighborhood electric vehicles
By Application
- Commercial
- Personal
- Public utilities
By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Club Car, LLC
- Italcar Industrial S.r.l.
- Mahindra Electric Mobility Limited
- PMV Electric Pvt. Ltd.
- Polaris Inc.
- Renault S.A.
- Shandong Shifeng (Group) Co., Ltd.
- Textron Inc.
- TOYOTA MOTOR CORPORATION
- Yamaha Golf-Car Company
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Bargaining power of suppliers
- 3.3.2. Bargaining power of buyers
- 3.3.3. Threat of substitutes
- 3.3.4. Threat of new entrants
- 3.3.5. Intensity of rivalry
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Supportive Government Policies and Incentives
- 3.4.1.2. Growing Environmental Awareness
- 3.4.1.3. Urbanization and Traffic Congestion
- 3.4.1.4. Shifting Consumer Preferences
- 3.4.2. Restraints
- 3.4.2.1. Limited Range and High Battery Replacement Cost
- 3.4.2.2. Limited Charging Infrastructure in Developing Countries
- 3.4.3. Opportunities
- 3.4.3.1. Rise in demand for micro electric vehicles from developing countries
- 3.4.3.2. Expansion of Micromobility Services
- 3.4.3.3. Increase in adoption of Smart Cities
- 3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: MICRO ELECTRIC VEHICLE MARKET, BY BATTERY TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Lead acid battery
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Lithium-ion battery
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
CHAPTER 5: MICRO ELECTRIC VEHICLE MARKET, BY TYPE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Micro cars
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Golfcarts, utility, and neighborhood electric vehicles
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: MICRO ELECTRIC VEHICLE MARKET, BY APPLICATION
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Commercial
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Personal
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Public utilities
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
CHAPTER 7: MICRO ELECTRIC VEHICLE MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key trends and opportunities
- 7.2.2. Market size and forecast, by Battery Type
- 7.2.3. Market size and forecast, by Type
- 7.2.4. Market size and forecast, by Application
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Key market trends, growth factors and opportunities
- 7.2.5.1.2. Market size and forecast, by Battery Type
- 7.2.5.1.3. Market size and forecast, by Type
- 7.2.5.1.4. Market size and forecast, by Application
- 7.2.5.2. Canada
- 7.2.5.2.1. Key market trends, growth factors and opportunities
- 7.2.5.2.2. Market size and forecast, by Battery Type
- 7.2.5.2.3. Market size and forecast, by Type
- 7.2.5.2.4. Market size and forecast, by Application
- 7.2.5.3. Mexico
- 7.2.5.3.1. Key market trends, growth factors and opportunities
- 7.2.5.3.2. Market size and forecast, by Battery Type
- 7.2.5.3.3. Market size and forecast, by Type
- 7.2.5.3.4. Market size and forecast, by Application
- 7.3. Europe
- 7.3.1. Key trends and opportunities
- 7.3.2. Market size and forecast, by Battery Type
- 7.3.3. Market size and forecast, by Type
- 7.3.4. Market size and forecast, by Application
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. UK
- 7.3.5.1.1. Key market trends, growth factors and opportunities
- 7.3.5.1.2. Market size and forecast, by Battery Type
- 7.3.5.1.3. Market size and forecast, by Type
- 7.3.5.1.4. Market size and forecast, by Application
- 7.3.5.2. Germany
- 7.3.5.2.1. Key market trends, growth factors and opportunities
- 7.3.5.2.2. Market size and forecast, by Battery Type
- 7.3.5.2.3. Market size and forecast, by Type
- 7.3.5.2.4. Market size and forecast, by Application
- 7.3.5.3. France
- 7.3.5.3.1. Key market trends, growth factors and opportunities
- 7.3.5.3.2. Market size and forecast, by Battery Type
- 7.3.5.3.3. Market size and forecast, by Type
- 7.3.5.3.4. Market size and forecast, by Application
- 7.3.5.4. Italy
- 7.3.5.4.1. Key market trends, growth factors and opportunities
- 7.3.5.4.2. Market size and forecast, by Battery Type
- 7.3.5.4.3. Market size and forecast, by Type
- 7.3.5.4.4. Market size and forecast, by Application
- 7.3.5.5. Rest of Europe
- 7.3.5.5.1. Key market trends, growth factors and opportunities
- 7.3.5.5.2. Market size and forecast, by Battery Type
- 7.3.5.5.3. Market size and forecast, by Type
- 7.3.5.5.4. Market size and forecast, by Application
- 7.4. Asia-Pacific
- 7.4.1. Key trends and opportunities
- 7.4.2. Market size and forecast, by Battery Type
- 7.4.3. Market size and forecast, by Type
- 7.4.4. Market size and forecast, by Application
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Key market trends, growth factors and opportunities
- 7.4.5.1.2. Market size and forecast, by Battery Type
- 7.4.5.1.3. Market size and forecast, by Type
- 7.4.5.1.4. Market size and forecast, by Application
- 7.4.5.2. Japan
- 7.4.5.2.1. Key market trends, growth factors and opportunities
- 7.4.5.2.2. Market size and forecast, by Battery Type
- 7.4.5.2.3. Market size and forecast, by Type
- 7.4.5.2.4. Market size and forecast, by Application
- 7.4.5.3. India
- 7.4.5.3.1. Key market trends, growth factors and opportunities
- 7.4.5.3.2. Market size and forecast, by Battery Type
- 7.4.5.3.3. Market size and forecast, by Type
- 7.4.5.3.4. Market size and forecast, by Application
- 7.4.5.4. South Korea
- 7.4.5.4.1. Key market trends, growth factors and opportunities
- 7.4.5.4.2. Market size and forecast, by Battery Type
- 7.4.5.4.3. Market size and forecast, by Type
- 7.4.5.4.4. Market size and forecast, by Application
- 7.4.5.5. Rest of Asia-Pacific
- 7.4.5.5.1. Key market trends, growth factors and opportunities
- 7.4.5.5.2. Market size and forecast, by Battery Type
- 7.4.5.5.3. Market size and forecast, by Type
- 7.4.5.5.4. Market size and forecast, by Application
- 7.5. LAMEA
- 7.5.1. Key trends and opportunities
- 7.5.2. Market size and forecast, by Battery Type
- 7.5.3. Market size and forecast, by Type
- 7.5.4. Market size and forecast, by Application
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Latin America
- 7.5.5.1.1. Key market trends, growth factors and opportunities
- 7.5.5.1.2. Market size and forecast, by Battery Type
- 7.5.5.1.3. Market size and forecast, by Type
- 7.5.5.1.4. Market size and forecast, by Application
- 7.5.5.2. Middle East
- 7.5.5.2.1. Key market trends, growth factors and opportunities
- 7.5.5.2.2. Market size and forecast, by Battery Type
- 7.5.5.2.3. Market size and forecast, by Type
- 7.5.5.2.4. Market size and forecast, by Application
- 7.5.5.3. Africa
- 7.5.5.3.1. Key market trends, growth factors and opportunities
- 7.5.5.3.2. Market size and forecast, by Battery Type
- 7.5.5.3.3. Market size and forecast, by Type
- 7.5.5.3.4. Market size and forecast, by Application
CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product Mapping of Top 10 Player
- 8.4. Competitive Dashboard
- 8.5. Competitive Heatmap
- 8.6. Top player positioning, 2021
CHAPTER 9: COMPANY PROFILES
- 9.1. Club Car, LLC
- 9.1.1. Company overview
- 9.1.2. Key Executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Key strategic moves and developments
- 9.2. Italcar Industrial S.r.l.
- 9.2.1. Company overview
- 9.2.2. Key Executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.3. PMV Electric Pvt. Ltd.
- 9.3.1. Company overview
- 9.3.2. Key Executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Key strategic moves and developments
- 9.4. Polaris Inc.
- 9.4.1. Company overview
- 9.4.2. Key Executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
- 9.5. Renault S.A.
- 9.5.1. Company overview
- 9.5.2. Key Executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
- 9.6. Shandong Shifeng (Group) Co., Ltd.
- 9.6.1. Company overview
- 9.6.2. Key Executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.7. Textron Inc.
- 9.7.1. Company overview
- 9.7.2. Key Executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Business performance
- 9.8. TOYOTA MOTOR CORPORATION
- 9.8.1. Company overview
- 9.8.2. Key Executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
- 9.8.7. Key strategic moves and developments
- 9.9. Yamaha Golf-Car Company
- 9.9.1. Company overview
- 9.9.2. Key Executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.10. Mahindra Electric Mobility Limited
- 9.10.1. Company overview
- 9.10.2. Key Executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance
- 9.10.7. Key strategic moves and developments