Global Electric Low Speed Vehicle Market Anticipated to Expand at a CAGR of 15.7% during the Forecast Period 2016-2024
According to Goldstein Research, global electric low speed vehicle (LSV) market size is expected to reach USD 7.4 billion from estimated USD 2.3 billion in 2015, growing at a CAGR of 15.7% during the forecast period. The increasing demand for low speed electric vehicle & non-polluting vehicles for in-compound movement such as in hotels, golf courses, airports and others are driving the growth of the market. Further the rise in number of golf courses and construction of new large sites will propel the demand of electric low speed vehicles. Global electric low speed vehicle market segmentation has been carried out on the basis of vehicle type, end users and geography. Geographically, North America accounted for highest market share of +28% which is driven by increasing environmental awareness among the people and high number of golf courses in the region. Further the government of developing countries such as China, India & Brazil is looking for increase in investments to dep...