Micro Electric Vehicle Market to Grow by 1090.69 Th Units from 2020 to 2025 | Technavio

NEW YORK, Nov. 2, 2021 -- The micro electric vehicle market is expected to grow by 1090.69 th units from 2020 to 2025, progressing at a CAGR of 6.46%, according to Technavio. The report offers an up-to-date analysis as well as exact growth variance and Y-O-Y growth rate.

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The micro electric vehicle market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The micro electric vehicle market report covers the following areas:

• Micro Electric Vehicle Market size
• Micro Electric Vehicle Market trends
• Micro Electric Vehicle Market industry analysis

Micro Electric Vehicle Market 2021-2025: Segmentation

• Type
• Golf And Micro Cars
• Quadricycles
• Geography
• North America
• APAC
• Europe
• South America
• MEA

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Micro Electric Vehicle Market 2021-2025: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources.

Government subsidies to manufacturers of micro electric vehicles encouraging micro EV designers will offer immense growth opportunities. However, power grids serving as a source to electric vehicles indirectly polluting the environment will challenge the growth of the market participants.

Micro Electric Vehicle Market 2021-2025: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the micro electric vehicle market, including ALTA Zero Emissions Solution, BYD Co. Ltd., Ingersoll Rand Inc., Italcar Industrial Srl, PMV Electric Pvt. Ltd., Polaris Inc., Renault SA, Textron Inc., and Yamaha Motor Co. Ltd. Backed with competitive intelligence and benchmarking, our research report on the micro electric vehicle market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

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Regional Analysis

Technavio's market research report provides detailed information on the contribution of each segment of the market. The report includes competitive intelligence, marketing gaps, and regional opportunities. Such information can help companies in making efficient business plans.

The micro electric vehicle market has been segmented by geography into five regions, namely North America, APAC, Europe, South America, and MEA. According to our research, North America will account for 47% of the growth of the market. However, the growth rate of the market in this region will be slower than in other regions. The US and Canada are expected to be the key countries in the micro electric vehicle market in North America. The growth of the market in the region will be driven by the growing demand for club cars along with increasing sales of electric golf carts in these countries during the forecast period.

Micro Electric Vehicle Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist micro electric vehicle market growth during the next five years
• Estimation of the micro electric vehicle market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the micro electric vehicle market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of micro electric vehicle market vendors

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SOURCE Technavio