Light Electric Vehicles (LEVs) Global Market Report 2022: Increasing Sales of E-Bikes, E-Scooters and E-Motorcycles for the Propulsion Sector – Yahoo Finance | CarTailz

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Global Light Electric Vehicle Market

Global Light Electric Vehicle Market

Global Light Electric Vehicle Market

Dublin, Nov. 21, 2022 (GLOBE NEWSWIRE) — The “Light Electric Vehicles (LEVs) Market by Vehicle Category, Application (Personal Mobility, Shared Mobility, Recreation & Sports, Commercial), Power Output (Less than 6 kW, 6 -9 kW, 9-15 kW), Component Type, Vehicle Type Region – Global Forecast to 2027” was added to the report ResearchAndMarkets.com Offer.

The light electric vehicle market is expected to grow from US$78.5 billion in 2022 to US$122.7 billion in 2027, registering a CAGR of 9.4%. e-ATV/UTVs, e-bike, e-scooter, e-motorcycle, neighborhood electric vehicle, e-lawn mower (robot e-lawn mower and manual e-lawn mower), industrial electric vehicle, autonomous forklift, delivery robot, and automated guided vehicles mapped as part of this research.

The growth in battery and motor technology and government efforts to reduce emissions in urban areas have increased demand for LEV vehicles over the years. With the rapid deployment of charging stations worldwide, the demand for LEVs such as electric vehicles, e-bikes, e-scooters, e-motorcycles and neighborhood EVs (golf carts/others) has also increased. Technological breakthroughs in EV batteries and other EV technologies have made it possible to have high-performance motors in electric ATVs and off-road UTVs (comparable to their ICE counterparts). This will cause a shift in demand for electric ATVs and UTVs in the years to come.

Residential and commercial LEVs will be the largest market segment during the forecast period

The rising price of petroleum products is the main factor driving the market for light electric vehicles for personal and commercial use. Electrical systems are more durable and efficient in regular use than mechanical models because they break down less often due to fewer moving parts and therefore less friction and wear. The lifetime cost of ownership or total cost of ownership (TCO) is expected to decrease compared to an internal combustion engine vehicle, leading to a further increase in demand for LEVs for personal and commercial use such as e-ATVs/UTVs, neighborhood electric vehicles, z bicycles, e-scooters and e-motorcycles, as well as some special vehicles such as e-lawn mowers.

Increasing sales of e-bikes, e-scooters and e-motorcycles to drive the LEV market

Two-wheeled vehicles use electric motors to achieve motion. The electricity is stored in a battery that powers the electric motors. These vehicles are zero-emission vehicles powered by electric motors. The operating speed and top speed of electric two-wheelers are based on battery technology.

Scooters and bikes are easy-to-use two-wheelers with a step-through frame and a platform for the user’s feet. These bikes are affordable, lightweight and easy to commute. On the other hand, motorcycles are heavier, faster and larger than scooters/mopeds. Depending on the requirements, these two-wheelers have different structures and frames. The electric versions of scooters and motorcycles run on electricity stored in their batteries. Electronic systems are more resilient than mechanical models because they break down less often due to less friction and wear. As a result, electric two-wheelers last longer compared to fuel-powered vehicles and reduce the environmental impact.

market dynamics

driver

  • Low operating and maintenance costs

  • Government incentives and subsidies

  • Advances in battery technology

  • Increasing demand from recreational and commercial applications

  • Advances in renewable energy

limitations

  • Lack of charging infrastructure and limited vehicle range

  • High acquisition costs

  • Increasing concerns about recycling of LEV components

occasions

  • Falling prices of components

  • New revenue streams in Asia Pacific, Africa and Europe

  • Increase R&D for progress

challenges

  • Lack of compatibility, interchangeability and standardization

  • Fluctuating raw material prices lead to rising costs for battery-powered industrial vehicles

Main topics covered:

1 Introduction

2 research methodology

3 Summary

4 premium insights

5 Market Overview

6 Light Electric Vehicle Market by Vehicle Type

7 Light Electric Vehicles Market, by Vehicle Category

8 Light Electric Vehicle Market by Application

9 Light Electric Vehicles Market by Performance

10 Light Electric Vehicles Market by Components

11 Light Electric Vehicle Market by Regions

12 competitive landscape

13 company profiles

14 recommendation

15 Appendix

companies mentioned

  • Accelerated Systems Inc.

  • Addax engines

  • Aisin Corporation

  • auks

  • American Country Champion

  • Ari Motors

  • Auro robotics

  • Auto Racing India

  • Balkancar record

  • BMW Ag

  • Borgwarner Inc.

  • Byd Auto Co.Ltd.

  • cfmoto

  • Club Car Inc.

  • Columbia Vehicle Group Inc.

  • Continental Ag

  • Crossfire motorcycles

  • Crystalyte engines

  • Curtis Instruments Inc.

  • dr United States

  • Eco charger

  • Elaphe Propulsion Technologies Ltd.

  • Evum engines

  • Excar

  • Godrej material transport

  • Govecs group

  • John Deere

  • Key Players (Lev Components Manufacturers)

  • Kion Group

  • linhai

  • Lit Motors Inc.

  • Magna International

  • Mahle Group

  • Marshall

  • Motor Appliance Corporation (Mac)

  • Fog Automotive Pvt. Limited

  • Nidec Corporation

  • Ningbo Yinzhou Hentach Electromechanical Co.Ltd.

  • Nsk Ltd.

  • Ntn group

  • Pilot car electric vehicles

  • Polaris Inc.

  • Powerland farm tractors

  • Protean Electrics

  • Q’s Motor Ltd.

  • Robert Bosch GMBH

  • Smart shopping cart

  • Electric vehicle Suzhou Eagle

  • Tesla Inc.

  • Textron Inc.

  • Toyota Industries Corporation

  • volcano

  • Waev Inc.

  • Wettsen Corporation

  • Yamaha Motor Co.Ltd.

  • ZF Friedrichshafen AG

For more information about this report, visit https://www.researchandmarkets.com/r/3efdde

Appendix

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