Technavio recognizes the following companies as the key players in the global micro electric vehicle market: Ingersoll Rand, Polaris Industries, Smart Automobile Company, Textron, and Yamaha Motors
Other Prominent Vendors in the market are: Italcar, ParCar, and Rhoades Car
Commenting on the report, an analyst from Technavio’s team said: “The sales graph of electric vehicles is experiencing upward trend worldwide as the electric vehicle technology is improving every day. The evolution of electric vehicles by automotive developers has led to innovations in battery technology that forms the fundamental part of most vehicles today. From the use of nickel-cadmium battery to current Li-ion lightweight battery, the electric vehicle technology has come a long way.”
According to the report, the global automotive industry is on the path of growth and development with sales figure reaching new heights YoY. The EU recorded 9.3% growth in 2014, followed by 5.7% in North America, while China's automotive sales declined to a 7.3% compared with 10% in 2014. The electric cars industry is also experiencing rapid growth in the automotive market, owing to its inherent advantages. Though the electric vehicle market is still in its growth stage, it is rapidly shifting gears and offering stiff competition to oil and gas-powered vehicles.
Further, the report states
that electric vehicles are considered clean and environment-friendly worldwide
as they do not cause air pollution and use electricity as their primary source
of fuel. This is in sharp contrast to conventional vehicles driven by gasoline
and diesel. Electric vehicles (since their development stages to on-road
performance) have been instrumental in reducing carbon footprints. The battery
electric vehicles are known for zero pollution as they hardly emit any harmful
gases into the air.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
About Micro Electric Vehicles:
Micro electric vehicles are vehicles that are
engineered with battery electric propulsion systems with a power rating of 4
kWh-15 kWh. They come in two to four-seater vehicle options. This class of
vehicles was earlier considered in the electric vehicles category. However,
with increased demand for micro electric vehicles (and rapid market growth),
they are now considered an independent category of vehicles. The global micro
electric vehicles market is primarily classified into two segments:
quadricycles and golf carts and micro cars.
Technavio’s analysts forecast the global micro electric vehicle market to grow at a CAGR of 17.26% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global micro electric vehicle market for 2016-2020. To calculate the market size, the report considers the revenue generated from the on volume sales of micro electric vehicles in the global market.
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Technavio's report, Global Micro Electric Vehicle Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Ingersoll Rand
• Polaris Industries
• Smart Automobile Company
• Textron
• Yamaha Motors
Other prominent vendors
• Italcar
• ParCar
• Rhoades Car
Market driver
• Dedicated consortium for development of micro electric vehicles: All-new designs and vehicle platforms drive demand
• For a full, detailed list, view our report
Market challenge
• Undeveloped infrastructure due to limited charging stations and reliability issues in developing economies
• For a full, detailed list, view our report
Market trend
• Improved Li-ion batteries, lighter construction, and increasing automation for improved drivability and maneuverability
• For a full, detailed list, view our report
Key questions answered in this report
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
Technavio’s analysts forecast the global micro electric vehicle market to grow at a CAGR of 17.26% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global micro electric vehicle market for 2016-2020. To calculate the market size, the report considers the revenue generated from the on volume sales of micro electric vehicles in the global market.
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Technavio's report, Global Micro Electric Vehicle Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Ingersoll Rand
• Polaris Industries
• Smart Automobile Company
• Textron
• Yamaha Motors
Other prominent vendors
• Italcar
• ParCar
• Rhoades Car
Market driver
• Dedicated consortium for development of micro electric vehicles: All-new designs and vehicle platforms drive demand
• For a full, detailed list, view our report
Market challenge
• Undeveloped infrastructure due to limited charging stations and reliability issues in developing economies
• For a full, detailed list, view our report
Market trend
• Improved Li-ion batteries, lighter construction, and increasing automation for improved drivability and maneuverability
• For a full, detailed list, view our report
Key questions answered in this report
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
Table of Content: https://marketreportscenter.com/reports/455975/global-micro-electric-vehicle-market-2016-2020#toc
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