Global Electric Low Speed Vehicle Market Insights, Size and Growth Forecast To 2027
Global electric low-speed vehicle market likely to the stringent rules and regulations towards vehicle transmission and decrease in fossil fuel reserves. Global Electric Low-Speed Vehicle Market valued at USD 39.7 billion in 2017, which expected to reach USD 83.37 billion by 2027, growing at a CAGR of 7.12 % during 2020–2027. The primary factors are shifting consumer preferences towards the electric low-speed vehicle as a result of socio-economic variables, psychological factors, mobility conditions, social influence, etc. With the rising cost of fuel, increasing levels of pollution, and congestion in the transport system especially, in urban areas, the huge maintenance cost of the vehicle, the electrically charged two, three, or four-wheelers will demand in the near future. Additionally, the rising preference toward electric vehicles will end in the higher deployment of different products, thus, creating revenue-generating opportunities for key stakeholders in the e...