Asia Pacific Low Speed Vehicle Market to 2027 - Regional Analysis and Forecasts by Type (Commercial Turf Utility Vehicles, Golf Carts, Industrial Utility Vehicles, and Personnel Carriers); Propulsion (Diesel, Electric, and Gasoline);
The low speed vehicle market in Asia Pacific was valued at US$ 4,306.7 million in 2019 and is projected to reach US$ 6,422.3 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027.
APAC comprises several major economies such as China, India, Japan, South Korea, and Australia. APAC is the largest continent in the world and is well-known for its technological innovations. Rapid developments pertaining to technologies, initiatives from governments, digitalization of economies, and rising disposable income of the middle-income class group are among the factors propelling the growth of the overall economy of the region from a developing to developed phase. Owing to the rising smart mobility service adoption, rapid urbanization, and increasing fuel prices as well as government incentives to encourage sales of electric vehicles and high awareness regarding nonconventional fuel-driven vehicles in Asia are among the factors impacting the low speed vehicle market growth in this region. Also, rapid urbanization and industrialization are fueling the growth of infrastructures in this region. Moreover, the automotive sector is a major contributor to the growth of Asian economies, along with providing a wide range of opportunities to autonomous, electric, and low speed vehicle producers. The rising inclination toward safe, green, economical, and sustainable transportation is one of the major factors boosting the usage of low speed vehicles in the region.
The market for Asia Pacific low speed vehicle is segmented into type, propulsion, and country. Based on type, the market is segmented into commercial turf utility vehicles, golf carts, industrial utility vehicles, and personnel carriers. Based on propulsion, the low speed vehicle market is segmented into electric, diesel, and gasoline. The electric-powered vehicles are anticipated to grow at the highest CAGR from 2020 to 2027. By country, the market is segmented into the Australia, China, India, Japan, South Korea, and Rest of APAC.
Rest of APAC Low Speed Vehicle Market, Revenue and Forecast to 2027 (US$ Million)
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Asia-Pacific Low Speed Vehicle Market–Segmentation
Asia Pacific Low Speed Vehicle Market – By Type
- Commercial Turf Utility Vehicles
- Golf Carts
- Industrial Utility Vehicles
- Personnel Carriers
Asia Pacific Low Speed Vehicle Market – By Propulsion
- Diesel
- Electric
- Less than 5 HP
- 5 to 8 HP
- More than 8 HP
- Gasoline
Asia Pacific Low Speed Vehicle Market – By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
Asia-Pacific Low Speed Vehicle Market-Companies Mentioned
- Club Car, LLC
- Cruise Car, Inc.,
- Deere & Company
- Garia Utility
- Melex Ltd.
- Moto Electric Vehicles
- Polaris Inc.
- Textron Specialized Vehicles Inc.
- The Toro Company
- Yamaha Golf-Car Company
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Low Speed Vehicle Market – By Type
1.3.2 Asia Pacific Low Speed Vehicle Market – By Propulsion
1.3.3 Asia Pacific Low Speed Vehicle Market – By Country
2. Research Methodology
2.1 Coverage
2.2 Secondary Research
2.3 Primary Research
3. Key Takeaways
4. Asia Pacific Low Speed Vehicle Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Asia Pacific
4.3 Ecosystem Analysis
5. Asia Pacific Low Speed Vehicle –Market Dynamics
5.1 Market Drivers
5.1.1 Increasing number of government initiatives to promote sustainable transportation
5.1.2 Rising construction and infrastructure industry
5.2 Market Restraints
5.2.1 High ownership and maintenance costs
5.3 Market Opportunities
5.3.1 Growing demand for electric vehicles
5.4 Future Trends
5.4.1 Rising technological integration to incorporate advanced features in vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Low Speed Vehicle- Asia Pacific Market Analysis
6.1 Asia Pacific Low Speed Vehicle Market Overview
6.1.1 APAC: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7. Asia Pacific Low Speed Vehicle Market – By Type
7.1 Overview
7.1.1 APAC: Low Speed Vehicle Market, by Type
7.2 Commercial Turf Utility Vehicles
7.2.1 Overview
7.2.2 Commercial Turf Utility Vehicles: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.3 Golf Carts
7.3.1 Overview
7.3.2 Golf Carts: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Industrial Utility Vehicles
7.4.1 Overview
7.4.2 Industrial Utility Vehicles: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Personnel Carriers
7.5.1 Overview
7.5.2 Personnel Carriers: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8. Asia Pacific Low Speed Vehicle Market – By Propulsion
8.1 Overview
8.1.1 APAC: Low Speed Vehicle Market, by Propulsion
8.1.2 APAC: Electric Low Speed Vehicle Market, by Power
8.2 Diesel
8.2.1 Overview
8.2.2 Diesel: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8.3 Electric
8.3.1 Overview
8.3.2 Electric: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
8.3.3 Less than 5 HP Market Forecast and Analysis
8.3.3.1 Less than 5 HP: Revenue and Forecast to 2027 (US$ Million)
8.3.4 5 – 8 HP Market Forecast and Analysis
8.3.4.1 5–8 HP: Revenue and Forecast to 2027 (US$ Million)
8.3.5 More than 8 HP Market Forecast and Analysis
8.3.5.1 More than 8 HP: Revenue and Forecast to 2027 (US$ Million)
8.4 Gasoline
8.4.1 Overview
8.4.2 Gasoline: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9. Asia Pacific Low Speed Vehicle Market – Country Analysis
9.1 Asia Pacific: Low Speed Vehicle Market, by Key Country
9.1.1 Australia: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1 Australia: Low Speed Vehicle Market, by Type
9.1.1.2 Australia: Low Speed Vehicle Market, by Propulsion
9.1.1.3 Australia: Electric Low Speed Vehicle Market, by Power
9.1.2 China: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.1.2.1 China: Low Speed Vehicle Market, by Type
9.1.2.2 China: Low Speed Vehicle Market, by Propulsion
9.1.2.3 China: Electric Low Speed Vehicle Market, by Power
9.1.3 India: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.1.3.1 India: Low Speed Vehicle Market, by Type
9.1.3.2 India: Low Speed Vehicle Market, by Propulsion
9.1.3.3 India: Electric Low Speed Vehicle Market, by Power
9.1.4 Japan: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.1.4.1 Japan: Low Speed Vehicle Market, by Type
9.1.4.2 Japan: Low Speed Vehicle Market, by Propulsion
9.1.4.3 Japan: Electric Low Speed Vehicle Market, by Power
9.1.5 South Korea: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.1.5.1 South Korea: Low Speed Vehicle Market, by Type
9.1.5.2 South Korea: Low Speed Vehicle Market, by Propulsion
9.1.5.3 South Korea: Electric Low Speed Vehicle Market, by Power
9.1.6 Rest of APAC: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.1.6.1 Rest of APAC: Low Speed Vehicle Market, by Type
9.1.6.2 Rest of APAC: Low Speed Vehicle Market, by Propulsion
9.1.6.3 Rest of APAC: Electric Low Speed Vehicle Market, by Power
10. Asia Pacific Low Speed Vehicle Market - Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 Club Car, LLC
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Cruise Car, Inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Deere & Company
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Garia Utility
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Melex Ltd.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Moto Electric Vehicles
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Polaris Inc.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Textron Specialized Vehicles Inc.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 The Toro Company
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Yamaha Golf-Car Company
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. APAC: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. APAC: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 4. APAC: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 5. Asia Pacific: Low Speed Vehicle Market, by Country – Revenue and Forecast to 2027 (US$ Million)
Table 6. Australia: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Australia: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 8. Australia: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 9. China: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 10. China: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 11. China: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 12. India: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. India: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 14. India: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 15. Japan: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 16. Japan: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 17. Japan: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 18. South Korea: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. South Korea: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 20. South Korea: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 21. Rest of APAC: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 22. Rest of APAC: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 23. Rest of APAC: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 24. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Low Speed Vehicle Market Segmentation
Figure 2. Asia Pacific Low Speed Vehicle Market Overview
Figure 3. Electric Propulsion to Show Remarkable Traction During Forecast Period
Figure 4. Personnel Carriers Segment to Show Remarkable Growth During Forecast Period
Figure 5. Asia Pacific Low Speed Vehicle Market, Industry Landscape
Figure 6. APAC: PEST Analysis
Figure 7. Ecosystem Analysis
Figure 8. Low Speed Vehicle Market Impact Analysis of Drivers and Restraints
Figure 9. APAC: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. APAC: Low Speed Vehicle Market Revenue Share, by Type (2019 and 2027)
Figure 11. Commercial Turf Utility Vehicles: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Golf Carts: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. Industrial Utility Vehicles: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Personnel Carriers: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. APAC: Low Speed Vehicle Market Revenue Share, by Propulsion (2019 and 2027)
Figure 16. Diesel: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Electric: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Less than 5 HP: Revenue and Forecast to 2027 (US$ Million)
Figure 19. 5–8 HP: Revenue and Forecast to 2027 (US$ Million)
Figure 20. More than 8 HP: Revenue and Forecast to 2027 (US$ Million)
Figure 21. Gasoline: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. APAC: Low Speed Vehicle Market Revenue Share, by Key Country (2019 and 2027)
Figure 23. Australia: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. China: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. India: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Japan: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. South Korea: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Rest of APAC: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
The List of Companies - Asia Pacific Low Speed Vehicle Market
- Club Car, LLC
- Cruise Car, Inc.,
- Deere & Company
- Garia Utility
- Melex Ltd.
- Moto Electric Vehicles
- Polaris Inc.
- Textron Specialized Vehicles Inc.
- The Toro Company
- Yamaha Golf-Car Company
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific Low Speed Vehicle Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific Low Speed Vehicle Market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution