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Global Micro Electric Vehicle Market 2016-2020

Global Micro Electric Vehicle Market 2016-2020

About Micro Electric Vehicles

Micro electric vehicles are vehicles that are engineered with battery electric propulsion systems with a power rating of 4 kWh-15 kWh. They come in two to four-seater vehicle options. This class of vehicles was earlier considered in the electric vehicles category. However, with increased demand for micro electric vehicles (and rapid market growth), they are now considered an independent category of vehicles. The global micro electric vehicles market is primarily classified into two segments: quadricycles and golf carts and micro cars.

Technavio’s analysts forecast the global micro electric vehicle market to grow at a CAGR of 17.26% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global micro electric vehicle market for 2016-2020. To calculate the market size, the report considers the revenue generated from the on volume sales of micro electric vehicles in the global market.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Micro Electric Vehicle Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Ingersoll Rand
  • Polaris Industries
  • Smart Automobile Company
  • Textron
  • Yamaha Motors
Other prominent vendors
  • Italcar
  • ParCar
  • Rhoades Car
Market driver
  • Dedicated consortium for development of micro electric vehicles: All-new designs and vehicle platforms drive demand
  • For a full, detailed list, view our report
Market challenge
  • Undeveloped infrastructure due to limited charging stations and reliability issues in developing economies
  • For a full, detailed list, view our report
Market trend
  • Improved Li-ion batteries, lighter construction, and increasing automation for improved drivability and maneuverability
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Micro Electric Vehicle Market 2016-2020

Technavio recognizes the following companies as the key players in the global micro electric vehicle market: Ingersoll Rand, Polaris Industries, Smart Automobile Company, Textron, and Yamaha Motors

Other Prominent Vendors in the market are: Italcar, ParCar, and Rhoades Car

Commenting on the report, an analyst from Technavio’s team said: “The sales graph of electric vehicles is experiencing upward trend worldwide as the electric vehicle technology is improving every day. The evolution of electric vehicles by automotive developers has led to innovations in battery technology that forms the fundamental part of most vehicles today. From the use of nickel-cadmium battery to current Li-ion lightweight battery, the electric vehicle technology has come a long way.”

According to the report, the global automotive industry is on the path of growth and development with sales figure reaching new heights YoY. The EU recorded 9.3% growth in 2014, followed by 5.7% in North America, while China's automotive sales declined to a 7.3% compared with 10% in 2014. The electric cars industry is also experiencing rapid growth in the automotive market, owing to its inherent advantages. Though the electric vehicle market is still in its growth stage, it is rapidly shifting gears and offering stiff competition to oil and gas-powered vehicles.

Further, the report states that electric vehicles are considered clean and environment-friendly worldwide as they do not cause air pollution and use electricity as their primary source of fuel. This is in sharp contrast to conventional vehicles driven by gasoline and diesel. Electric vehicles (since their development stages to on-road performance) have been instrumental in reducing carbon footprints. The battery electric vehicles are known for zero pollution as they hardly emit any harmful gases into the air.



Companies Mentioned

Ingersoll Rand, Polaris Industries, Smart Automobile Company, Textron, Yamaha Motors, Italcar, ParCar, Rhoades Car.

  • Executive summary
    • Highlights
  • Scope of the report
    • Report coverage
      • Table Scope of the report
      • Table Definitions of products and markets
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Market highlights of global micro electric vehicle market
      • Table Electric vehicle charging technologies
      • Table Sectional view of working of micro electric vehicle
      • Table Different buying parameters of micro electric vehicle
  • Market landscape
    • Market overview
      • Table Market segmentation of global micro electric vehicle market
      • Table Global micro electric vehicle market 2015-2020 (units in millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by geography
    • Table Global micro electric vehicle market 2015 and 2020: Geography
    • Automotive micro electric vehicle market in the APAC
      • Table Global micro electric vehicle market in APAC 2015-2020 (units in millions)
    • Automotive micro electric vehicle market in Americas
      • Table Global micro electric vehicle market in Americas 2015-2020 (units in millions)
    • Automotive micro electric vehicle market in EMEA
      • Table Global micro electric vehicle market in EMEA 2015-2020 (units in millions)
  • Market segmentation by vehicle type
    • Table Global micro electric vehicle market by vehicle type
    • Global micro electric vehicles 2015-2020: Golf carts and micro cars
      • Table Global micro electric vehicles 2015-2020: Golf carts and micro cars (units in millions)
    • Global micro electric vehicles 2015-2020: Quadricycles
      • Table Global micro electric vehicles 2015-2020: Quadricycles
  • Market drivers
    • Table Drivers in global micro electric vehicle market
    • Table Electric vehicle market in China 2015-2020 (units in millions)
  • Market challenges
    • Table Challenges in global micro electric vehicle market
  • Market trends
    • Table Trends in global micro electric vehicle market
    • Table Different battery technology with respective energy density (2000-2015)
    • Table Different types of charging levels
  • Vendor landscape
    • Competitive benchmarking
      • Table Benchmarking of vendors in global micro electric vehicle market
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Table Product portfolio of Ingersoll Rand
    • Table Product portfolio of Polaris industries
    • Table Product portfolio of Smart Automobile Company
    • Table Product portfolio of Textron
    • Table Product portfolio of Yamaha Motors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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