Low-Speed Vehicle Market by Type (Commercial Turf & Industrial Utility Vehicle, Golf Cart, and Personal Mobility Vehicle), Power Output (<8 kW, 8-15 kW, and >15 kW), Propulsion (Diesel, Electric, and Gasoline), Application and Region - Forecast to 2027

Abstract
The low-speed vehicle market is projected to grow from USD 8.9 billion in 2021 to USD 14.4 billion by 2027, at a CAGR of 8.2%. As per the World Bank, the global population is growing at a rate of ~1% annually. Further, according to the same World Bank statistics, nearly 35% of the global population came under the 40-79 age group in 2020. Nearly 25% of the population in the US were 60 years and above, European nations had an average of 21.5% of the population above 60 years and above, and Japan is the oldest country with nearly 28% of the population in that age group. As per the UN Census Bureau, the global population crossed 7.9 billion in February 2022. As per medical studies, the reflex actions of the human body tend to reduce with growing age. This supports that people are now moving toward safer driving options.

The trend of an aging population in the US has grown nearly 3% from 1996 to 2020 and predicted to grow during the forecast period. Thus, these figures show that the geriatric population is increasing, and low-speed vehicles which run at 25 mph are the best and safe solutions available for this population. The current trend for safe, comfortable, and easy mobility solutions is growing. People in the geriatric age group look for door-to-door movement mobility solutions, and low-speed compact vehicles fulfill this requirement.

Companies have developed products keeping the elderly group population in consideration with models like E-Z-Go Express S4 introduced in 2021, Club Car’s Onward Series introduced in 2017, and Garia Via provides a full customization option to its customers and Cushion Shuttle 6 for movement of more passengers. In 2016, Wajima, a city in Japan, introduced free automated golf car services for the elderly population. Therefore, considering these factors, the rise in the geriatric population could drive the market for low-speed vehicles.

Golf is considered a form of recreational sport. The average age of the golfer is nearly 54 years. As per the National Golf Foundation (NGF) records in 2020, there was remarkable surge in both participation and rounds played despite the shutdowns and uncertainties of the COVID-19 pandemic. The NGF count showed 24.8 million golfers in the US in 2020, an increase of 500,000 and 2% over 2019. New players numbered 6.2 million in 2020. As per the NGF’s study, 2020 marked the third straight year more golfers came to the game in the US. Despite being the age group most at risk during the pandemic, older players showed an enthusiastic response for playing the sport. Further, in the US, two-thirds of private golf clubs were reported in a good financial situation in late 2020.

Also, at DLF Golf and Country Club, a prestigious golf club in Asia Pacific, there has been an increase in demand for membership and regular usage by existing members in 2020. Another factor that led to the growing popularity of the sport is the increase in rewards and prize money. As per Professional Golf Tour of India (PGTI) in Asia Pacific, events that had prize money of USD 8-10 thousand in the early 2000s are now scaled up to a range starting from USD 30 thousand and going up to USD 0.2 million in professional golf tournaments.

There has been a remarkable increase in golf courses throughout the globe. Again, as per NGF, there was a 44% increase in the number from 2006 to 2019. According to ASIAN Golf, nearly 5,000 golf courses were developed in Asia till March 2020, of which 196 were officially registered in India. Therefore, growing popularity among people for golf and rising enthusiasm toward this sport would drive the market for low-speed vehicles like golf carts.

“The Commercial Turf Utility Vehicle segment is expected to lead the Vehicle type segment.”

The hotels and resorts industry is completely dependent on tourism activities. According to the latest World Tourism Barometer, global travel activity rebounded sharply in the third quarter of 2021, while remaining far below pre-pandemic levels. International tourist arrivals increased by 58% in the three months ended September 2021 compared to the same period of 2020. These travel activities globally are creating demand from the hotel and resorts industry to provide the best facilities and convenient activities to their providers. For instance, in 2019, Atlanta, the Palm Dubai ordered a fleet for LSVs from Club Car.

Apart from this, hotels and resorts are now promoting battery-operated vehicles and even focusing on structures to support electric mobility solutions. In 2021, Fern Hotels and Resorts partnered with Magenta to install EV charging stations at over 84 hotels across India. A few examples of commercial turf utility vehicles are Carryall 500 (Club Car), Carryall 1500 (Club Car), 2020A ProGator (Deere & Company), and Gator TX Turf Utility Vehicle (Deere & Company). Thus, the market for commercial turf utility vehicles is largely dependent on the travel and tourism industry, and with the growth of the tourism industry, the market for commercial turf utility vehicles is predicted to grow during forecasted period.

North America is projected to be the largest regional market

North America accounts for 80% of the world’s golf cart demand, with the US accounting for 96% of the regional golf cart demand. Thus, the US is the largest country-level market in the region and accounts for more than two-thirds of the overall market, followed by Canada and Mexico. Mexico and Canada are also gaining traction due to lower manufacturing costs, low manpower costs, and favorable government policies.

The market is held strongly by established American and Asian OEMs such as Textron Inc. (US), Deere & Company (US), Club Car (US), and Yamaha Motor Co Ltd (Japan). Low-speed vehicles in the US have advanced comfort and safety technologies.

The North American low-speed vehicle market features vehicles such as golf carts, commercial turf utility vehicles, and industrial utility vehicles. Electric low-speed vehicles are widely preferred across the region because of their zero-carbon emission and noise reduction. The US government is also focusing on the electric vehicle market and even giving subsidy benefits on taxes for promoting them.
Golf courses are expected to hold the largest market share during the forecast period. The increased use of low-speed vehicles in commercial applications such as hotels and resorts and the high number of golf courses are expected to drive the North American low-speed vehicle market.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
•By Company Type: Low-speed vehicle manufacturers – 45%, Component Suppliers-40% and Others– 15%
•By Designation: C Level - 35%, Directors- 35%, and Others – 30%
•By Region: Asia Pacific - 40%, Europe - 30%, and North America –30%
The low-speed vehicle market is led by established players such as Textron Inc. (US), Yamaha Motor Co Ltd (Japan), The Toro Company (US), Deere & Company (US), Waev Inc (US), and Club Car (US).

Research Coverage:
The study segments the Low-speed vehicle market and forecasts the market size based on Vehicle Type { golf cart, commercial turf utility vehicle, industrial utility vehicle, and personal mobility vehicle application type (golf courses, hotels & resorts, airports, industrial facilities, and others), propulsion (electric, diesel, and gasoline), battery type (Li-Ion and Lead Acid), power output (15 KW), and region (Asia Pacific, North America, Europe, and the Rest of the World [RoW]).
The study also includes an in-depth competitive analysis of the major Low-speed vehicle manufacturers in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall Low-speed vehicle market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides them information on key market drivers, restraints, challenges, and opportunities.

Content
Table of Contents

1INTRODUCTION33
1.1OBJECTIVES33
1.2MARKET PRODUCT DEFINITION33
1.2.1INCLUSIONS & EXCLUSIONS34
1.3MARKET SCOPE35
FIGURE 1MARKET SEGMENTATION: LOW-SPEED VEHICLE MARKET35
1.3.1YEARS CONSIDERED IN THE STUDY36
1.4CURRENCY CONSIDERED36
1.5SUMMARY OF CHANGES36
1.6STAKEHOLDERS37
2RESEARCH METHODOLOGY38
2.1RESEARCH DATA38
FIGURE 2LOW-SPEED VEHICLE MARKET: RESEARCH DESIGN38
2.1.1SECONDARY DATA39
2.1.1.1List of key secondary sources to estimate base numbers40
2.1.1.2List of key secondary sources for market sizing41
2.1.1.3Key data from secondary sources41
2.1.2PRIMARY DATA42
2.1.2.1Breakdown of primary interviews42
2.1.3SAMPLING TECHNIQUES & DATA COLLECTION METHODS43
2.2MARKET SIZE ESTIMATION43
FIGURE 3RESEARCH METHODOLOGY: HYPOTHESIS BUILDING44
2.2.1BOTTOM-UP APPROACH44
FIGURE 4BOTTOM-UP APPROACH: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE & COUNTRY44
2.2.2TOP-DOWN APPROACH45
FIGURE 5TOP-DOWN APPROACH: LOW-SPEED VEHICLE MARKET, BY PROPULSION AND APPLICATION45
FIGURE 6LOW-SPEED VEHICLE MARKET: RESEARCH DESIGN & METHODOLOGY46
2.2.3FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY-SIDE47
2.3FACTOR ANALYSIS48
2.4MARKET BREAKDOWN AND DATA TRIANGULATION49
FIGURE 7DATA TRIANGULATION49
2.5RESEARCH ASSUMPTIONS50
TABLE 1ASSUMPTIONS50
2.6RESEARCH LIMITATIONS51
 
3EXECUTIVE SUMMARY52
3.1PRE- VS POST-COVID-19 SCENARIO52
FIGURE 8PRE- & POST-COVID-19 SCENARIO: LOW-SPEED VEHICLE MARKET SIZE, 2019–2027 (USD MILLION)52
TABLE 2LOW-SPEED VEHICLE SIZE: PRE- VS. POST-COVID-19 SCENARIO,
2019–2027 (USD MILLION)52
3.2REPORT SUMMARY53
FIGURE 9LOW-SPEED VEHICLE SIZE, BY VEHICLE TYPE, 2021 VS. 202754
4PREMIUM INSIGHTS56
4.1ATTRACTIVE OPPORTUNITIES IN LOW-SPEED VEHICLE MARKET56
FIGURE 10RISING DEMAND FROM END USE SECTORS LIKE INDUSTRIAL FACILITIES AND AIRPORTS TO DRIVE THE MARKET56
4.2LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE57
FIGURE 11COMMERCIAL TURF UTILITY VEHICLES HELD LARGEST MARKET IN
2021 (USD MILLION)57
4.3LOW-SPEED VEHICLE MARKET, BY PROPULSION57
FIGURE 12ELECTRIC PROPULSION TO DOMINATE THE MARKET57
4.4LOW-SPEED VEHICLE MARKET, BY BATTERY TYPE58
FIGURE 13LI-ION TO HOLD LARGEST MARKET DURING FORECAST PERIOD58
4.5LOW-SPEED VEHICLE MARKET, BY APPLICATION TYPE58
FIGURE 14GOLF COURSES HELD LARGEST MARKET IN 202158
4.6LOW-SPEED VEHICLE MARKET, BY POWER OUTPUT59
FIGURE 15<8 KW HELD LARGEST MARKET IN 202159
4.7LOW SPEED VEHICLE (L6 AND L7) MARKET, BY CATEGORY59
FIGURE 16L7 VEHICLE ACCOUNTS MAXIMUM SHARE BY CATEGORY SEGMENT59
4.8LOW-SPEED VEHICLE MARKET, BY REGION60
FIGURE 17NORTH AMERICA ESTIMATED TO ACCOUNT FOR THE LARGEST SHARE OF
THE MARKET60
5MARKET OVERVIEW61
5.1INTRODUCTION61
5.2MARKET DYNAMICS62
FIGURE 18LOW-SPEED VEHICLE MARKET: MARKET DYNAMICS62
5.2.1DRIVERS62
5.2.1.1Rising geriatric population62
FIGURE 19PERCENTAGE OF POPULATION AGE 65 & ABOVE, US, 1996-202063
5.2.1.2Growing popularity for golf63
5.2.1.3Growing electric vehicle charging infrastructure64
FIGURE 20NUMBER OF EV CHARGING STATION LOCATIONS AND EVSE PORTS IN US, 202164
FIGURE 21NUMBER OF CHARGING STATIONS IN TOP 10 COUNTRIES IN EUROPE, 202065
5.2.2RESTRAINTS65
5.2.2.1High costs restraining adoption in developing and underdeveloped regions65
5.2.2.2Lack of safety standards/equipment66
5.2.3OPPORTUNITIES66
5.2.3.1Increasing real estate and commercial sector66
5.2.3.2Increasing developments of autonomous and connected technologies67
5.2.4CHALLENGES67
5.2.4.1Cost reduction and improved energy density of EV batteries67
5.3PORTER’S FIVE FORCES ANALYSIS68
TABLE 3PORTER’S FIVE FORCES ANALYSIS68
FIGURE 22PORTER’S FIVE FORCES69
5.3.1INTENSITY OF COMPETITIVE RIVALRY69
5.3.2THREAT OF SUBSTITUTES70
5.3.3BARGAINING POWER OF SUPPLIERS70
5.3.4BARGAINING POWER OF BUYERS70
5.3.5THREAT OF NEW ENTRANTS71
5.4CASE STUDIES71
5.4.1GOLF CAR POWERTRAIN NVH SOURCES AND MITIGATION METHODS71
5.4.2GOLF CARTS MAKING ROUNDS IN SOME COMMUNITIES71
5.4.3INVESTIGATION INTO CONVERSION OF FLEET OF PLUG-IN-ELECTRIC GOLF CARTS INTO SOLAR-POWERED VEHICLES USING FUZZY LOGIC CONTROL73
5.4.4DESIGN AND CONSTRUCTION OF AN AUTONOMOUS GOLF CART; ANALYZING CASE STUDIES OF TRANSITIONING FROM HUMAN-DRIVING TO SELF-DRIVING VEHICLES75
5.4.5IMPACTS OF LOW-SPEED VEHICLES ON TRANSPORTATION INFRASTRUCTURE AND SAFETY76
5.5PATENT ANALYSIS77
5.6LOW-SPEED VEHICLE: IN MARKET SCENARIO82
FIGURE 23LOW-SPEED VEHICLE MARKET SCENARIO, 2019–2027 (USD MILLION)82
5.6.1REALISTIC SCENARIO82
TABLE 4LOW-SPEED VEHICLE (REALISTIC SCENARIO), BY REGION,
2019–2027 (USD MILLION)82
5.6.2LOW IMPACT SCENARIO83
TABLE 5LOW-SPEED VEHICLE MARKET (LOW IMPACT SCENARIO), BY REGION,
2019–2027 (USD MILLION)83
5.6.3HIGH IMPACT SCENARIO83
TABLE 6LOW-SPEED VEHICLE MARKET (HIGH IMPACT SCENARIO), BY REGION,
2019–2027 (USD MILLION)84
5.7SUPPLY CHAIN ANALYSIS84
FIGURE 24SUPPLY CHAIN ANALYSIS: LOW-SPEED VEHICLE MARKET84
5.8MARKET ECOSYSTEM85
FIGURE 25LOW-SPEED VEHICLE MARKET ECOSYSTEM85
TABLE 7ROLE OF COMPANIES IN LOW-SPEED VEHICLE MARKET ECOSYSTEM85
5.9AVERAGE SELLING PRICE (ASP) ANALYSIS87
TABLE 8AVERAGE SELLING PRICE (ASP), BY REGION87
TABLE 9AVERAGE SELLING PRICE (ASP), BY VEHICLE TYPE87
5.10REGULATORY ANALYSIS88
5.10.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS88
TABLE 10NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS88
TABLE 11EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS89
TABLE 12ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS89
TABLE 13REST OF WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS89
5.10.2REGULATORY ANALYSIS FOR LOW-SPEED VEHICLES, BY COUNTRY90
TABLE 14US: LIST OF REGULATIONS FOR LOW-SPEED VEHICLES90
TABLE 15CANADA: LIST OF REGULATIONS FOR LOW-SPEED VEHICLES92
TABLE 16EUROPE/ASIA: LIST OF REGULATIONS FOR LOW-SPEED VEHICLES93
5.11TRADE ANALYSIS93
TABLE 17IMPORT TRADE DATA: 870310 HS CODE, BY KEY COUNTRIES,
2020 (THOUSAND USD)93
TABLE 18EXPORT TRADE DATA: 870310 HS CODE, BY KEY COUNTRIES,
2020 (THOUSAND USD)94
TABLE 19IMPORT TRADE DATA: 870899 HS CODE, BY KEY COUNTRIES,
2020 (THOUSAND USD)94
TABLE 20EXPORT TRADE DATA: 870899 HS CODE, BY KEY COUNTRIES,
2020 (THOUSAND USD)95
TABLE 21IMPORT TRADE DATA: 843280 HS CODE, BY KEY COUNTRIES,
2020 (THOUSAND USD)95
TABLE 22EXPORT TRADE DATA: 843280 HS CODE, BY KEY COUNTRIES,
2020 (THOUSAND USD)96
5.12TECHNOLOGY TREND96
5.12.1FUTURE IS OF ELECTRIC TECHNOLOGY96
5.12.2ADVANCED FEATURES FOR LUXURY AND SAFETY97
5.13KEY CONFERENCES & EVENTS IN 2022-202397
TABLE 23LOW-SPEED VEHICLE MARKET: DETAILED LIST OF CONFERENCES & EVENTS97
6RECOMMENDATIONS BY MARKETSANDMARKETS99
6.1NORTH AMERICA IS EXPECTED TO LEAD THE MARKET99
6.2KEY FOCUS AREAS: SAFETY FEATURES AND ELECTRIC VEHICLES99
6.3CONCLUSION100
7LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE101
7.1INTRODUCTION102
7.1.1RESEARCH METHODOLOGY102
7.1.2ASSUMPTIONS102
7.1.3INDUSTRY INSIGHTS103
FIGURE 26LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021 VS. 2027 (USD MILLION)103
TABLE 24LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2017–2020 (UNITS)103
TABLE 25LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2021–2027 (UNITS)104
TABLE 26LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)104
TABLE 27LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)104
7.2GOLF CART105
7.2.1INCREASE IN NUMBER OF REGISTRATIONS AND INVESTMENTS TO DRIVE DEMAND105
TABLE 28GOLF CARTS MARKET, BY REGION, 2017–2020 (UNITS)105
TABLE 29GOLF CARTS MARKET, BY REGION, 2021–2027 (UNITS)105
TABLE 30GOLF CARTS MARKET, BY REGION, 2017–2020 (USD MILLION)106
TABLE 31GOLF CARTS MARKET, BY REGION, 2021–2027 (USD MILLION)106
7.3COMMERCIAL TURF UTILITY VEHICLE106
7.3.1GROWTH OF HOTELS & RESORTS TO DRIVE DEMAND106
TABLE 32COMMERCIAL TURF UTILITY VEHICLES MARKET, BY REGION,
2017–2020 (UNITS)107
TABLE 33COMMERCIAL TURF UTILITY VEHICLES MARKET, BY REGION,
2021–2027 (UNITS)107
TABLE 34COMMERCIAL TURF UTILITY VEHICLES MARKET, BY REGION,
2017–2020 (USD MILLION)107
TABLE 35COMMERCIAL TURF UTILITY VEHICLES MARKET, BY REGION,
2021–2027 (USD MILLION)108
7.4INDUSTRIAL UTILITY VEHICLE108
7.4.1GROWING CONSTRUCTION SECTOR TO DRIVE DEMAND108
TABLE 36INDUSTRIAL UTILITY VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)109
TABLE 37INDUSTRIAL UTILITY VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)109
TABLE 38INDUSTRIAL UTILITY VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)109
TABLE 39INDUSTRIAL UTILITY VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)110
7.5PERSONAL MOBILITY VEHICLE110
7.5.1RISE IN DOMESTIC TRAVEL TO DRIVE DEMAND110
TABLE 40PERSONAL MOBILITY VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)110
TABLE 41PERSONAL MOBILITY VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)111
TABLE 42PERSONAL MOBILITY VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)111
TABLE 43PERSONAL MOBILITY VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)111
 
8LOW-SPEED VEHICLE MARKET, BY POWER OUTPUT112
8.1INTRODUCTION113
8.1.1RESEARCH METHODOLOGY113
8.1.2ASSUMPTIONS113
8.1.3INDUSTRY INSIGHTS113
FIGURE 27LOW-SPEED VEHICLE MARKET, BY POWER OUTPUT,
2021 VS. 2027 (USD MILLION)114
TABLE 44LOW-SPEED VEHICLE MARKET, BY POWER OUTPUT, 2017–2020 (UNITS)114
TABLE 45LOW-SPEED VEHICLE MARKET, BY POWER OUTPUT, 2021–2027 (UNITS)114
TABLE 46LOW-SPEED VEHICLE MARKET, BY POWER OUTPUT,
2017–2020 (USD MILLION)115
TABLE 47LOW-SPEED VEHICLE MARKET, BY POWER OUTPUT,
2021–2027 (USD MILLION)115
8.2<8 KW115
8.2.1RISING DEMAND IN GOLF COURSES TO DRIVE THE SEGMENT115
TABLE 48<8 KW: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)116
TABLE 49<8 KW: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)116
TABLE 50<8 KW: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)116
TABLE 51<8 KW: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)117
8.38 –15 KW117
8.3.1GROWTH OF HOSPITALITY SECTOR TO DRIVE THE SEGMENT117
TABLE 528 –15 KW: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)117
TABLE 538 –15 KW: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)118
TABLE 548 –15 KW: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)118
TABLE 558 –15 KW: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)118
8.4>15 KW119
8.4.1RISING DEMAND FROM MAJOR INDUSTRIES TO DRIVE THE SEGMENT119
TABLE 56>15 KW: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)119
TABLE 57>15 KW: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)120
TABLE 58>15 KW: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)120
TABLE 59>15 KW: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)120
9LOW-SPEED VEHICLE MARKET, BY BATTERY TYPE121
9.1INTRODUCTION122
9.1.1RESEARCH METHODOLOGY122
9.1.2ASSUMPTIONS122
9.1.3INDUSTRY INSIGHTS123
FIGURE 28LOW-SPEED VEHICLE MARKET, BY BATTERY TYPE,
2021 VS. 2027 (USD MILLION)123
TABLE 60LOW-SPEED VEHICLE MARKET, BY BATTERY TYPE, 2017–2020 (UNITS)123
TABLE 61LOW-SPEED VEHICLE MARKET, BY BATTERY TYPE, 2021–2027 (UNITS)124
TABLE 62LOW-SPEED VEHICLE MARKET, BY BATTERY TYPE,
2017–2020 (USD MILLION)124
TABLE 63LOW-SPEED VEHICLE MARKET, BY BATTERY TYPE,
2021–2027 (USD MILLION)124
9.2LITHIUM-ION (LI-ION)124
9.2.1SEVERAL WORKING ADVANTAGES OVER LEAD-ACID BATTERY TO DRIVE DEMAND124
TABLE 64LI-ION: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)125
TABLE 65LI-ION: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)125
TABLE 66LI-ION: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)126
TABLE 67LI-ION: GLOBAL LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)126
9.3LEAD-ACID126
9.3.1LOW EFFICIENCY AND HAZARDOUS NATURE LEADING TO DECREASE IN DEMAND126
TABLE 68LEAD ACID: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)127
TABLE 69LEAD ACID: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)127
TABLE 70LEAD ACID: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)127
TABLE 71LEAD ACID: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)128
10LOW-SPEED VEHICLE MARKET, BY APPLICATION TYPE129
10.1INTRODUCTION130
10.1.1RESEARCH METHODOLOGY130
10.1.2ASSUMPTIONS130
10.1.3INDUSTRY INSIGHTS131
FIGURE 29LOW-SPEED VEHICLE MARKET, BY APPLICATION,
2021 VS. 2027 (USD MILLION)131
TABLE 72LOW-SPEED VEHICLE MARKET, BY APPLICATION, 2017–2020 (UNITS)131
TABLE 73LOW-SPEED VEHICLE MARKET, BY APPLICATION, 2021–2027 (UNITS)132
TABLE 74LOW-SPEED VEHICLE MARKET, BY APPLICATION, 2017–2020 (USD MILLION)132
TABLE 75LOW-SPEED VEHICLE MARKET, BY APPLICATION, 2021–2027 (USD MILLION)132
10.2GOLF COURSES133
10.2.1DEVELOPMENT OF NEW GOLF COURSES TO DRIVE DEMAND133
TABLE 76GOLF COURSES: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (UNITS)133
TABLE 77GOLF COURSES: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (UNITS)133
TABLE 78GOLF COURSES: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)134
TABLE 79GOLF COURSES: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)134
10.3HOTELS & RESORTS134
10.3.1INVESTMENTS IN HOSPITALITY SECTOR TO DRIVE DEMAND134
TABLE 80HOTELS & RESORTS: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (UNITS)135
TABLE 81HOTELS & RESORTS: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (UNITS)135
TABLE 82HOTELS & RESORTS: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)135
TABLE 83HOTELS & RESORTS: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)136
10.4AIRPORTS136
10.4.1INCREASE IN AIRPORT OPERATIONS TO DRIVE DEMAND136
TABLE 84AIRPORTS: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)137
TABLE 85AIRPORTS: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)137
TABLE 86AIRPORTS: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)137
TABLE 87AIRPORTS: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)138
10.5INDUSTRIAL FACILITIES138
10.5.1GROWTH OF CONSTRUCTION AND MANUFACTURING SECTOR TO DRIVE DEMAND138
TABLE 88INDUSTRIAL FACILITIES: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (UNITS)138
TABLE 89INDUSTRIAL FACILITIES: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (UNITS)139
TABLE 90INDUSTRIAL FACILITIES: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)139
TABLE 91INDUSTRIAL FACILITIES: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)139
10.6OTHERS140
TABLE 92OTHERS: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)140
TABLE 93OTHERS: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)140
TABLE 94OTHERS: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)141
TABLE 95OTHERS: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)141
11LOW-SPEED VEHICLE MARKET, BY PROPULSION142
11.1INTRODUCTION143
11.1.1RESEARCH METHODOLOGY143
11.1.2ASSUMPTIONS143
11.1.3INDUSTRY INSIGHTS143
FIGURE 30LOW-SPEED VEHICLE MARKET, BY PROPULSION,
2021 VS. 2027 (USD MILLION)144
TABLE 96LOW-SPEED VEHICLE MARKET, BY PROPULSION, 2017–2020 (UNITS)144
TABLE 97LOW-SPEED VEHICLE MARKET, BY PROPULSION, 2021–2027 (UNITS)144
TABLE 98LOW-SPEED VEHICLE MARKET, BY PROPULSION TYPE,
2017–2020 (USD MILLION)145
TABLE 99LOW-SPEED VEHICLE MARKET, BY PROPULSION TYPE,
2021–2027 (USD MILLION)145
11.2ELECTRIC145
11.2.1INVESTMENTS IN CHARGING INFRASTRUCTURE TO DRIVE DEMAND145
TABLE 100ELECTRIC: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)146
TABLE 101ELECTRIC: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)146
TABLE 102ELECTRIC: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)146
TABLE 103ELECTRIC: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)147
11.3GASOLINE147
11.3.1RANGE ANXIETY OF ELECTRIC VEHICLES TO DRIVE DEMAND147
TABLE 104GASOLINE: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)147
TABLE 105GASOLINE: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)148
TABLE 106GASOLINE: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)148
TABLE 107GASOLINE: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)148
11.4DIESEL149
11.4.1LACK OF CHARGING INFRASTRUCTURE IN ROW TO DRIVE DEMAND149
TABLE 108DIESEL: GLOBAL LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (UNITS)149
TABLE 109DIESEL: GLOBAL LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (UNITS)149
TABLE 110DIESEL: GLOBAL LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)150
TABLE 111DIESEL: GLOBAL LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)150
12LOW-SPEED VEHICLE (L6 AND L7) MARKET, BY CATEGORY151
12.1INTRODUCTION152
12.1.1RESEARCH METHODOLOGY152
12.1.2ASSUMPTIONS152
FIGURE 31LOW-SPEED VEHICLE (L6 AND L7) MARKET, BY CATEGORY,
2021 VS. 2027 (USD MILLION)153
TABLE 112LOW-SPEED VEHICLE (L6 AND L7) MARKET, BY CATEGORY,
2017–2020 (UNITS)153
TABLE 113LOW-SPEED VEHICLE (L6 AND L7) MARKET, BY CATEGORY,
2021–2027 (UNITS)153
TABLE 114LOW-SPEED VEHICLE (L6 AND L7) MARKET, BY CATEGORY,
2017–2020 (USD MILLION)154
TABLE 115LOW-SPEED VEHICLE (L6 AND L7) MARKET, BY CATEGORY,
2021–2027 (USD MILLION)154
 
12.2L7 VEHICLE154
12.2.1HIGHER DEMAND FROM JAPAN, CHINA, US, AND EUROPEAN COUNTRIES TO DRIVE THE SEGMENT154
TABLE 116L7 VEHICLE: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)155
TABLE 117L7 VEHICLE: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)155
TABLE 118L7 VEHICLE: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)155
TABLE 119L7 VEHICLE: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)156
12.3L6 VEHICLE156
12.3.1INVESTMENTS IN GOLF AND HOSPITALITY TO DRIVE THE SEGMENT156
TABLE 120L6 VEHICLE: LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)157
TABLE 121L6 VEHICLE: LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)157
TABLE 122L6 VEHICLE: LOW-SPEED VEHICLE MARKET, BY REGION,
2017–2020 (USD MILLION)157
TABLE 123L6 VEHICLE: LOW-SPEED VEHICLE MARKET, BY REGION,
2021–2027 (USD MILLION)158
13LOW-SPEED VEHICLE MARKET, BY REGION159
13.1INTRODUCTION160
13.1.1RESEARCH METHODOLOGY160
13.1.2ASSUMPTIONS160
FIGURE 32INDUSTRY INSIGHTS161
FIGURE 33LOW-SPEED VEHICLE MARKET, BY REGION, 2021 VS. 2027 (USD MILLION)161
TABLE 124LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (UNITS)161
TABLE 125LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (UNITS)162
TABLE 126LOW-SPEED VEHICLE MARKET, BY REGION, 2017–2020 (USD MILLION)162
TABLE 127LOW-SPEED VEHICLE MARKET, BY REGION, 2021–2027 (USD MILLION)162
13.2ASIA PACIFIC163
FIGURE 34ASIA PACIFIC: LOW-SPEED VEHICLE MARKET, 2021 VS. 2027 (USD MILLION)163
TABLE 128ASIA PACIFIC: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2017–2020 (UNITS)164
TABLE 129ASIA PACIFIC: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2021–2027 (UNITS)164
TABLE 130ASIA PACIFIC: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2017–2020 (USD MILLION)164
TABLE 131ASIA PACIFIC: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2021–2027 (USD MILLION)165
13.2.1CHINA165
13.2.1.1Growth of industrial sector to drive the market165
TABLE 132CHINA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)165
TABLE 133CHINA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)166
TABLE 134CHINA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)166
TABLE 135CHINA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)166
13.2.2INDIA167
13.2.2.1Growth in tourism and hospitality sectors to drive the market167
TABLE 136INDIA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2017–2020 (UNITS)167
TABLE 137INDIA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2021–2027 (UNITS)167
TABLE 138INDIA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)168
TABLE 139INDIA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)168
13.2.3JAPAN168
13.2.3.1High demand for industrial utility vehicles to drive the market168
TABLE 140JAPAN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)169
TABLE 141JAPAN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)169
TABLE 142JAPAN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)169
TABLE 143JAPAN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)170
13.2.4SOUTH KOREA170
13.2.4.1High growth opportunities in tourism sector to drive the market170
TABLE 144SOUTH KOREA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)170
TABLE 145SOUTH KOREA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)171
TABLE 146SOUTH KOREA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)171
TABLE 147SOUTH KOREA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)171
13.2.5THAILAND172
13.2.5.1Affordable golfing demand to drive the market172
TABLE 148THAILAND: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)172
TABLE 149THAILAND: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)172
TABLE 150THAILAND: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)173
TABLE 151THAILAND: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)173
13.2.6REST OF ASIA PACIFIC173
13.3NORTH AMERICA174
FIGURE 35NORTH AMERICA: LOW-SPEED VEHICLE MARKET SNAPSHOT175
TABLE 152NORTH AMERICA: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2017–2020 (UNITS)175
TABLE 153NORTH AMERICA: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2021–2027 (UNITS)176
TABLE 154NORTH AMERICA: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2017–2020 (USD MILLION)176
TABLE 155NORTH AMERICA: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2021–2027 (USD MILLION)176
13.3.1US177
13.3.1.1Rising demand for zero-emission vehicles to drive the market177
TABLE 156US: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2017–2020 (UNITS)177
TABLE 157US: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2021–2027 (UNITS)177
TABLE 158US: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)178
TABLE 159US: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)178
13.3.2MEXICO178
13.3.2.1Growing hospitality sector to drive the market178
TABLE 160MEXICO: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)179
TABLE 161MEXICO: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)179
TABLE 162MEXICO: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)179
TABLE 163MEXICO: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)180
13.3.3CANADA180
13.3.3.1Developments in golf industry to drive the market180
TABLE 164CANADA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)180
TABLE 165CANADA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)181
TABLE 166CANADA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)181
TABLE 167CANADA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)181
13.4EUROPE182
FIGURE 36EUROPE: LOW-SPEED VEHICLE MARKET SNAPSHOT IN EUROPE183
TABLE 168EUROPE: LOW-SPEED VEHICLE MARKET, BY COUNTRY, 2017–2020 (UNITS)183
TABLE 169EUROPE: LOW-SPEED VEHICLE MARKET, BY COUNTRY, 2021–2027 (UNITS)184
TABLE 170EUROPE: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2017–2020 (USD MILLION)184
TABLE 171EUROPE: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2021–2027 (USD MILLION)184
13.4.1UK185
13.4.1.1Growing tourism industry to drive the market185
TABLE 172UK: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2017–2020 (UNITS)185
TABLE 173UK: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2021–2027 (UNITS)185
TABLE 174UK: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)186
TABLE 175UK: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)186
13.4.2FRANCE186
13.4.2.1Growing popularity of golf to drive the market186
TABLE 176FRANCE: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)187
TABLE 177FRANCE: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)187
TABLE 178FRANCE: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)187
TABLE 179FRANCE: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)188
13.4.3GERMANY188
13.4.3.1Increase in popularity of golf to drive the market188
TABLE 180GERMANY: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)188
TABLE 181GERMANY: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)189
TABLE 182GERMANY: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)189
TABLE 183GERMANY: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)189
13.4.4NORDIC COUNTRIES190
13.4.4.1Tourism development to drive the market190
TABLE 184NORDIC: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)190
TABLE 185NORDIC: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)190
TABLE 186NORDIC: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)191
TABLE 187NORDIC: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)191
13.4.5ITALY191
13.4.5.1Growth of tourism sector to drive the market191
TABLE 188ITALY: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2017–2020 (UNITS)192
TABLE 189ITALY: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2021–2027 (UNITS)192
TABLE 190ITALY: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)192
TABLE 191ITALY: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)193
13.4.6SPAIN193
13.4.6.1Increasing golf popularity to drive the market193
TABLE 192SPAIN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)193
TABLE 193SPAIN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)194
TABLE 194SPAIN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)194
TABLE 195SPAIN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)194
13.5REST OF THE WORLD (ROW)195
FIGURE 37ROW: LOW-SPEED VEHICLE MARKET, 2021 VS. 2027 (USD MILLION)195
TABLE 196ROW: LOW-SPEED VEHICLE MARKET, BY COUNTRY, 2017–2020 (UNITS)195
TABLE 197ROW: LOW-SPEED VEHICLE MARKET, BY COUNTRY, 2021–2027 (UNITS)196
TABLE 198ROW: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2017–2020 (USD MILLION)196
TABLE 199ROW: LOW-SPEED VEHICLE MARKET, BY COUNTRY,
2021–2027 (USD MILLION)196
13.5.1SOUTH AFRICA196
13.5.1.1Increase in number of golf courses to drive the market196
TABLE 200SOUTH AFRICA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)197
TABLE 201SOUTH AFRICA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)197
TABLE 202SOUTH AFRICA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)197
TABLE 203SOUTH AFRICA: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)198
13.5.2BRAZIL198
13.5.2.1Golf hotels and world-class golf courses to drive the market198
TABLE 204BRAZIL: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (UNITS)198
TABLE 205BRAZIL: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (UNITS)199
TABLE 206BRAZIL: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)199
TABLE 207BRAZIL: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)199
13.5.3IRAN200
13.5.3.1Growth of travel and tourism industry to drive the market200
TABLE 208IRAN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2017–2020 (UNITS)200
TABLE 209IRAN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE, 2021–2027 (UNITS)200
TABLE 210IRAN: LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2017–2020 (USD MILLION)201
TABLE 211IRAN: GLOBAL LOW-SPEED VEHICLE MARKET, BY VEHICLE TYPE,
2021–2027 (USD MILLION)201
14COMPETITIVE LANDSCAPE202
14.1OVERVIEW202
14.2LOW-SPEED VEHICLE MARKET SHARE ANALYSIS, 2020202
TABLE 212LOW-SPEED VEHICLE MARKET SHARE ANALYSIS, 2020202
FIGURE 38SHARE OF LEADING COMPANIES IN LOW-SPEED VEHICLE MARKET, 2020203
14.3COMPANY EVALUATION QUADRANT: LOW-SPEED VEHICLE MARKET SUPPLIERS205
FIGURE 39COMPETITIVE EVALUATION MATRIX: LOW-SPEED VEHICLE MARKET SUPPLIERS, 2021205
14.3.1STAR206
14.3.2EMERGING LEADERS206
14.3.3PERVASIVE206
14.3.4PARTICIPANTS206
14.3.5COMPETITIVE BENCHMARKING207
TABLE 213LOW-SPEED VEHICLE MARKET: COMPANY PRODUCT FOOTPRINT, 2021207
TABLE 214LOW-SPEED VEHICLE MARKET: COMPANY APPLICATION FOOTPRINT, 2021208
TABLE 215LOW-SPEED VEHICLE: COMPANY REGION FOOTPRINT, 2021208
FIGURE 40DETAILS ON KEY DEVELOPMENTS BY LEADING PLAYERS209
14.4COMPETITIVE SCENARIO210
14.4.1NEW PRODUCT LAUNCHES210
TABLE 216PRODUCT LAUNCHES, 2018–2022210
14.4.2DEALS213
TABLE 217DEALS, 2019–2022213
14.4.3OTHER DEVELOPMENTS, 2019–2022218
TABLE 218OTHER DEVELOPMENTS, 2019–2022218
14.5KEY PLAYER STRATEGIES/RIGHT TO WIN, 2019–2021219
FIGURE 41COMPANIES ADOPTED NEW PRODUCT DEVELOPMENTS AND PARTNERSHIPS AS KEY GROWTH STRATEGIES, 2019–2021219
14.6REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS220
FIGURE 42REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS, 2018-2020220