North America 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 North America was valued at US$ 3,209.2 million in 2019 and is projected to reach US$ 4,199.6 million by 2027; it is expected to grow at a CAGR of 3.5% from 2020 to 2027.
North America constitutes developed economies, including the US and Canada, along with several developing countries such as Mexico. North America region is characterized as a fast adopter of several technological developments, which complements the growth of technologically advanced products and services in this region. The companies in this region are continuously enhancing the overall business processes to meet the customer demand for high-quality products and services in the best possible way. North America has a strong presence of a well-developed automotive market and therefore is considered to be one of the most prominent commercial vehicles producing nations in the world.
A low speed vehicle is a 4-wheel motor vehicle that can move at speed from 20 to 25 mph. Golf carts, neighborhood electric vehicles, utility vehicles, pickup vans, and personal carriers are among the low speed vehicles deployed in the region. The rising elderly population is projected to create more demand for mobility solutions that are beyond automobiles. In this respect, the low speed vehicles and street-legal golf carts are ideal as these are cost-effective, convenient, and a clean local transportation substitute for this population. The mentioned vehicles are also appropriate for commuters, students, and government fleet operators. The US projects to lower vehicle miles traveled and greenhouse gas emissions. The abovementioned factors have been playing a significant role in creating an immediate market for zero-emission vehicles, particularly in the US. The use of low speed vehicles for short trips would play a vital role in decreasing greenhouse gas emission levels in the Americas. All these factors are anticipated to boost the demand of low speed vehicle market in the North America region in the coming years.
North America: Low Speed Vehicle Market, Revenue and Forecast to 2027 (US$ Million)
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North America Low Speed Vehicle Market–Segmentation
North America Low Speed Vehicle Market – By Type
- Commercial Turf Utility Vehicles
- Golf Carts
- Industrial Utility Vehicles
- Personnel Carriers
North America Low Speed Vehicle Market – By Propulsion
- Diesel
- Electric
- Less than 5 HP
- 5 to 10 HP
- More than 8 HP
- Gasoline
North America Low Speed Vehicle Market – By Country
- The US
- Canada
- Mexico
North America Low Speed Vehicle Market-Companies Mentioned
- Bintelli Electric Vehicle
- Club Car, LLC
- Cruise Car, Inc.,
- Deere & Company
- HDK Co., 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 North America Low Speed Vehicle Market – By Type
1.3.2 North America Low Speed Vehicle Market – By Propulsion
1.3.3 North America Low Speed Vehicle Market – By Country
2. Research Methodology
2.1 Coverage
2.2 Secondary Research
2.3 Primary Research
3. Key Takeaways
4. North America Low Speed Vehicle Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
5. North America 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- North America Market Analysis
6.1 North America Low Speed Vehicle Market Overview
6.1.1 North America: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
6.2 Market Positioning – Five Key Players
7. North America Low Speed Vehicle Market – By Type
7.1 Overview
7.1.1 North America: 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. North America Low Speed Vehicle Market – By Propulsion
8.1 Overview
8.1.1 North America: Low Speed Vehicle Market, by Propulsion
8.1.1.1 North America: 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. North America Low Speed Vehicle Market – Country Analysis
9.1 North America: Low Speed Vehicle Market, by Key Country
9.1.1 US: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1 US: Low Speed Vehicle Market, by Type
9.1.1.2 US: Low Speed Vehicle Market, by Propulsion
9.1.1.3 US: Electric Low Speed Vehicle Market, by Power
9.1.2 Canada: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.1.2.1 Canada: Low Speed Vehicle Market, by Type
9.1.2.2 Canada: Low Speed Vehicle Market, by Propulsion
9.1.2.3 Canada: Electric Low Speed Vehicle Market, by Power
9.1.3 Mexico: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
9.1.3.1 Mexico: Low Speed Vehicle Market, by Type
9.1.3.2 Mexico: Low Speed Vehicle Market, by Propulsion
9.1.3.3 Mexico: Electric Low Speed Vehicle Market, by Power
10. North America 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 Bintelli Electric Vehicles
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 Club Car, LLC
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 Cruise Car, Inc.
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 Deere & Company
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 HDK Co., 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. North America: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. North America: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. North America: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 4. North America: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 5. North America: Low Speed Vehicle Market, by Country – Revenue and Forecast to 2027 (US$ Million)
Table 6. US: Low Speed Vehicle Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 7. US: Low Speed Vehicle Market, by Propulsion –Revenue and Forecast to 2027 (US$ Million)
Table 8. US: Electric Low Speed Vehicle Market, by Power –Revenue and Forecast to 2027 (US$ Million)
Table 9. Canada: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 10. Canada: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 11. Canada: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 12. Mexico: Low Speed Vehicle Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. Mexico: Low Speed Vehicle Market, by Propulsion – Revenue and Forecast to 2027 (US$ Million)
Table 14. Mexico: Electric Low Speed Vehicle Market, by Power – Revenue and Forecast to 2027 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Low Speed Vehicle Market Segmentation
Figure 2. North America Low Speed Vehicle Market Overview
Figure 3. Electric Propulsion to Show Remarkable Traction During Forecast Period
Figure 4. Personnal Carriers Segment to Show Remarkable Growth During Forecast Period
Figure 5. North America Low Speed Vehicle Market, Industry Landscape
Figure 6. North America: PEST Analysis
Figure 7. Ecosystem Analysis
Figure 8. Low Speed Vehicle Market Impact Analysis of Drivers and Restraints
Figure 9. North America: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. North America: 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. North America: 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. North America: Low Speed Vehicle Market Revenue Share, by Key Country (2019 and 2027)
Figure 23. US: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Canada: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Mexico: Low Speed Vehicle Market – Revenue and Forecast to 2027 (US$ Million)
The List of Companies - North America Low Speed Vehicle Market
- Bintelli Electric Vehicle
- Club Car, LLC
- Cruise Car, Inc.,
- Deere & Company
- HDK Co., 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 North America 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 North America 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 North America 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