Low-speed Electric Vehicle Market, Global Outlook and Forecast 2023-2032

Low-speed Electric Vehicle Market, Global Outlook and Forecast 2023-2032

Published On : november 2023

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Report Studies The global Low-speed Electric Vehicle market was valued at US$ 7343.6 million in 2022 and is projected to reach US$ 9129.2 million by 2029, at a CAGR of 3.2% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

A low speed electric vehicle (LSV) is a four-wheeled 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 has a gross vehicle weight rating (GVWR) of less than 3,001 pounds. It cannot be powered by gas or diesel fuel.

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By Types

Lead-acid Battery EVs

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Lithium-ion Battery EVs

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By Applications • Personal Use • Commercial Use • Public Utilities

$50,000 $40,000

$35,000 $30,000 $25,000

$30,000 $20,000

$20,000 $15,000 $10,000

$10,000 $0

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$5,000 $0

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