Global Micro Electric Vehicle Market To Grow Substantially Through 2018
Because we at InsideEVs try our best to keep an eye an all segments of electric vehicles, we present this forward-looking forecast on micro electric vehicles (think Renault Twizy, or golf carts even):
Micro electric vehicles are driven by electric battery propulsion with a power rating of 4-10 KWh and are generally two to four-seater vehicles. This class of vehicles was earlier considered to belong to the category of electric vehicles, but as a result of the increased demand for this product and rapid growth of the market, they now form a separate market category.
TechNavio’s analysts forecast the Global Micro Electric Vehicles market will grow at a CAGR of 14.91 percent over the period 2013-2018.
The Global Micro Electric Vehicles market can be divided into three segments: Quadricycles, Golf Carts, and Mobility Vehicles for the Disabled. To calculate the market size, the report considers the revenue generated from the combined sales of all three segments. . In addition, the report discusses the major drivers that influence the growth of the Global Micro Electric Vehicles market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.
TechNavio’s report, the Global Micro Electric Vehicles Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas and the EMEA and APAC regions; it also covers the Global Micro Electric Vehicles market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
– Ingersoll Rand plc
– Polaris Industries Inc.
– Textron Inc.
– Yamaha Motor Corp.
Other Prominent Vendors
– Canadian Electric Vehicles Ltd.
– Chongqing Huansong Industries (Group) Co. Ltd.
– Columbia ParCar
– E-Ride Industries
– Pride Mobility Products Corp.
– Shenzhen Marshell Green Power Co. Ltd.
– Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
– Tomberlin Automotive Group
– Zhejiang Ruifeng (R & P) Industry Group
Key Market Driver
– Increase in Government Subsidies and Incentives