The global Micro EVs market was valued at 584.63 Million USD in 2021 and will grow with a CAGR of 7.04% from 2021 to 2027, based on HNY Research newly published report.

The prime objective of this report is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

A micro electric vehicle (EV) is a four-wheeled electric powered micro vehicle with an attainable speed of more than 20 miles per hour but not more than 25 miles per hour (in China, not more than 70 kilometers per hour) on a paved surface, and it usually has a gross vehicle weight rating (GVWR) of less than 3,000 pounds. Neighborhood electric vehicles (NEVs), golf carts and utility terrain vehicles all fall into this category. Global Sales of Micro EVs surged in the past two years with the good sales of scooters in China market. Global Micro EVs are expected to sell 2.51 million units in 2025 and more than 80% will appear in China market, which exhibits a promising trend of the industry. For the products types, lithium ion batteries based Micro EVs are more favored in USA, Europe and Japan, while lead-acid batteries based products take a large market share in China. Attracted by the market profits, more and more companies have entered into Micro EVs industry, the competition between manufacturers at home and abroad is fierce for the time being. For the major players of Micro EVs industry in global market, Textron, Yamaha and Polaris are the leaders. In the other side, China suppliers such as Yogomo, Dojo and Shifeng have obvious large sales market share. For the fierce competition between suppliers, price and gross margin is expected to decrease further. Global average price of Micro EVs is predicted to decline 4.06 thousand USD/Unit in the end of 2025, for the manufacturers, gross margin is about 15%~23%.

By Market Verdors:

Yogomo

Shifeng

Textron

Dojo

Byvin

Polaris

Lichi

Baoya

Tangjun

Yamaha

Fulu

Xinyuzhou

GreenWheel EV

Incalu

Kandi

Renault

APACHE

Garia

Zheren

Ingersoll Rand

CitEcar Electric Vehicles

Eagle

Taiqi

By Types:

Lead-acid Battery EVs

Lithium-ion Battery EVs

By Applications:

Personal Use

Commercial Use (Sightseeing, Golf etc.)

Public Utilities

Key Indicators Analysed

Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.

Market Trends: Market key trends which include Increased Competition and Continuous Innovations.

Opportunities and Drivers: Identifying the Growing Demands and New Technology

Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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