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Light Electric Vehicle Market

The worldwide light electric vehicle market is a high-performing market that has the potential to solve environmental problems with regard to the rising emissions generated by vehicles. The global light electric vehicles market revenue is predicted to increase at a CAGR of 9.4% during the forecast period. <br>The light electric vehicle industry is also driven by government initiatives and subsidies, increasing the affordability of light electric vehicles and the high demand for sustainable forms of automotive technology.<br>

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Light Electric Vehicle Market

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  1. Light Electric Vehicle Market The worldwide light electric vehicle market is a high-performing market that has the potential to solve environmental problems with regard to the rising emissions generated by vehicles. The global light electric vehicles market revenue is predicted to increase at a CAGR of 9.4% during the forecast period. The light electric vehicle industry is also driven by government initiatives and subsidies, increasing the affordability of light electric vehicles and the high demand for sustainable forms of automotive technology. By product, the market is segmented on the basis of product into two-wheelers, three- wheelers, and four-wheelers. The three-wheelers are expected to witness the fastest growth during the forecast period, owing to the rise in demand of affordable and sustainable alternative to conventional fuel vehicles. By voltage, the market based on voltage range is segmented into 24V, 36V, 48V, 60V, and 72V. The highest revenue generation in 2017 was from 48V light electric vehicles, majorly used in electric bikes and scooters. By application, the light electric vehicles market is segmented into personal mobility, shared mobility/transportation, recreation, and sports, work assist/commercial uses and others. The demand for light electric vehicles especially three-wheelers is expected to witness huge demand for shared nobility/transportation during the forecast period.

  2. The demand for light electric vehicles is primarily motivated by strict emission regulations, electric vehicle government subsidies and rapid industrialization. Initiatives are being implemented by different governments around the world to replace the petroleum-based car infrastructure with electric cars. Countries such as India and Chine provide incentive to boost electric vehicles adoption. Similarly, in European Union, governments are undertaking key initiatives to opt for green energy-driven vehicles. Recent News: In July 2018, Accell Group announced the purchase of the electric cargo bike systems company Velosophy BV. Competitive Insights: Some of the other players in the light electric vehicle market include Textron, Inc., BMW Motorrad, Auro Robotics, Ingersoll-Rand plc, Polaris Industries, Inc., Gogoro Inc., GOVECS GmbH, Lit Motors Inc., Mahindra GenZe, Piaggio & C. SpA, Terra Motors, Vmoto Limited, Yadea Technology Group, Zero Motorcycles Inc., AIMA Technology Group Co. Ltd., and Jiangsu Xinri E-Vehicle Co. Ltd. VynZ Research Call: +91-996-028-8381 Toll-Free (U.S. and Canada): +1-888-253-3960 Email: enquiry@vynzresearch.com Web: https://www.vynzresearch.com Connect with Us:LinkedIn | Facebook | Twitter

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