According to the research report, the global light electric vehicles market size is expected to touch USD 205.76 Billion by 2032, from USD 81.23 Billion in 2022, growing with a significant CAGR of 9.74% from 2023 to 2032.
Key Takeaways:
- North America region dominates the global market.
- By Vehicle Category, the 2-wheeler segment captured the largest revenue share in 2022.
- By Application, the commercial segment is predicted to generate the maximum market share in 2022.
- By Power Output, the 6–9 kW segment is expected to capture the largest market share in 2022.
- By Component, the battery pack segment is projected to record the highest market share in 2022.
- By Vehicle Type, the e-bike segment is expected to account for the biggest market share in 2022.
The light electric vehicles report offers a comprehensive study of the current state expected at the major drivers, market strategies, and key vendors’ growth. The report presents energetic visions to conclude and study the market size, market hopes, and competitive surroundings. The research also focuses on the important achievements of the market, research & development, and regional growth of the leading competitors operating in the market. The current trends of the global light electric vehicles in conjunction with the geographical landscape of this vertical have also been included in this report.
The report offers intricate dynamics about different aspects of the global light electric vehicles market, which aids companies operating in the market in making strategic development decisions. The study also elaborates on significant changes that are highly anticipated to configure growth of the global light electric vehicles during the forecast period. It also includes a key indicator assessment that highlights growth prospects of this market and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (tons).
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Scope of the Light Electric Vehicles Market
| Coverage | Details |
| Market Size in 2023 | USD 89.14 Billion |
| Market Size by 2032 | USD 205.76 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 9.74% |
| Largest Market | North America |
| Segments Covered | By Vehicle Category, By Application, By Power Output, By Component and By Vehicle Type |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
This study covers a detailed segmentation of the global light electric vehicles market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global light electric vehicles market, wherein various developments, expansions, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Players
- Accelerated Systems Inc.
- Addax Motors
- Aisin Corporation
- Alke, American Landmaster
- Ari Motors
- Auro Robotics
- Auto Rennen India
- Balkancar Record
- BMW AG
- Borgwarner Inc.
- Byd Auto Co. Ltd.
- Cfmoto, Club Car Inc.
- Columbia Vehicle Group Inc.
- Continental AG
- Crossfire Motorcycles
- Crystalyte Motors
Market Segmentation
By Vehicle Category
- 2-wheelers
- 3-wheelers
- 4-wheelers
By Application
- Personal Mobility
- Shared Mobility
- Recreation & Sports
- Commercial
By Power Output
- Less than 6 kW
- 6–9 kW
- 9–15 kW
By Component
- Battery pack
- Electric motor (Propulsion Motor)
- Motor controller
- Inverters
- Power Controller
- E-brake booster
- Power Electronics
By Vehicle Type
- e-ATV/UTV
- e-bike
- e-scooter
- e-motorcycle
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Research Methodology
The research methodology adopted by analysts for compiling the global light electric vehicles report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global light electric vehicles market.
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