Market Overview Of The Micro Electric Vehicle Market

The Global Micro Electric Vehicle Market size is expected to grow from USD 7.27 billion in 2022 to USD 18.18 billion by 2030, at a CAGR of 12.14% during the forecast period (2023-2030).

The micro electric vehicle is a one or two-seater small, lightweight, having range of 10-50 miles and it can be recharged in 2-4 hrs. These types of vehicles are used in urban areas for short trips. Micro electric vehicles run on charging batteries instead of combustion engines. There are two types of electrical vehicles such as pure micro electric vehicles and hybrid micro electric vehicles. Pure micro electric vehicles run on only electricity and do not requires any additional power source while hybrid micro electric vehicles contain both an electric motor and a gasoline engine. The various kinds of batteries used in such vehicles like molten salt, zinc-air, lithium-ion, and different nickel-based designs. Thus they do not produce any toxic gas in the environment. In recent years it is becoming more popular due to its environmental effect and low cost of ownership. The governments and the public institution are focused on the implementation of subsidies and policies to increase the sale of electrical vehicles including micro-electrical vehicles. Apart from this growing awareness about global warming and environmental pollution, the government of various countries develops strict regulations that favor the growth of the micro electric vehicles market.

Market Dynamics And Factors Of The Micro Electric Vehicle Market

Drivers:

• Rising Demand For Green Transportation Solutions

 Restraints:

• Lack of Charging Infrastructure

Opportunities:

• Technological Advancement in Manufacturing and Design of Micro Electric Vehicle

Challenges:

• High Manufacturing Cost of Micro Electric Vehicles

COVID-19 Impact On The Micro Electric Vehicle Market

The covid-19 has had an adverse effect on the automotive industries around the world. The pandemic disrupted the supply chain and stopped the manufacturing facility. Due to the government traveling restriction and increasing cost of raw materials the supply chain had disturbed while lack of the labor, and the social distancing rule of the government, and the manufacturing of the micro electric vehicles stopped. With the increased spread and the strict government regulations, people around the globe faced financial problems that reduced the sale of micro electric vehicles. Henceforth the covid-19 negatively impacted the micro-electric vehicle market.

Key Players For The Micro Electric Vehicle Market

• Textron(Rhode Island, U.S.)
• Polaris Inc. (Minnesota, U.S.)
• Baoya (Shandong, China)
• CLUB CAR (Georgia, U.S.)
• Yamaha Golf-Car Company (Georgia, U.S.)
• Italcar Industrial S.r.l. (Turin, Italy)
• Yogomo(Shandong, China)
• Renault Group (Paris, France)

Key Industry Developments In The Micro Electric Vehicle Market

In June 2021, Club Car, a manufacturer of electric and gas-powered vehicles launched a new electric vehicle named Club Car Current in partnership with AYRO, Inc.

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Battery Type
 3.3 By Application

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Micro Electric Vehicle Market by Type
 5.1 Micro Electric Vehicle Market Overview Snapshot and Growth Engine
 5.2 Micro Electric Vehicle Market Overview
 5.3 Pure Electric Vehicles
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Pure Electric Vehicles: Geographic Segmentation
 5.4 Hybrid Electric Vehicles
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Hybrid Electric Vehicles: Geographic Segmentation

Chapter 6: Micro Electric Vehicle Market by Battery Type
 6.1 Micro Electric Vehicle Market Overview Snapshot and Growth Engine
 6.2 Micro Electric Vehicle Market Overview
 6.3 Lead Acid Battery
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Lead Acid Battery: Geographic Segmentation
 6.4 Lithium-Ion Battery
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Lithium-Ion Battery: Geographic Segmentation

Chapter 7: Micro Electric Vehicle Market by Application
 7.1 Micro Electric Vehicle Market Overview Snapshot and Growth Engine
 7.2 Micro Electric Vehicle Market Overview
 7.3 Civil
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2016-2028F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Civil: Geographic Segmentation
 7.4 Commercial
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2016-2028F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Commercial: Geographic Segmentation

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Positioning
  8.1.2 Micro Electric Vehicle Sales and Market Share By Players
  8.1.3 Industry BCG Matrix
  8.1.4 Heat Map Analysis
  8.1.5 Micro Electric Vehicle Industry Concentration Ratio (CR5 and HHI)
  8.1.6 Top 5 Micro Electric Vehicle Players Market Share
  8.1.7 Mergers and Acquisitions
  8.1.8 Business Strategies By Top Players
 8.2 TEXTRON
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Operating Business Segments
  8.2.5 Product Portfolio
  8.2.6 Business Performance
  8.2.7 Key Strategic Moves and Recent Developments
  8.2.8 SWOT Analysis
 8.3 POLARIS INC.
 8.4 BAOYA
 8.5 CLUB CAR
 8.6 YAMAHA GOLF-CAR COMPANY
 8.7 ITALCAR INDUSTRIAL S.R.L.
 8.8 YOGOMO
 8.9 RENAULT GROUP
 8.10 OTHER MAJOR PLAYERS

Chapter 9: Global Micro Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
 9.1 Market Overview
 9.2 Historic and Forecasted Market Size By Type
  9.2.1 Pure Electric Vehicles
  9.2.2 Hybrid Electric Vehicles
 9.3 Historic and Forecasted Market Size By Battery Type
  9.3.1 Lead Acid Battery
  9.3.2 Lithium-Ion Battery
 9.4 Historic and Forecasted Market Size By Application
  9.4.1 Civil
  9.4.2 Commercial

Chapter 10: North America Micro Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
 10.1 Key Market Trends, Growth Factors and Opportunities
 10.2 Impact of Covid-19
 10.3 Key Players
 10.4 Key Market Trends, Growth Factors and Opportunities
 10.4 Historic and Forecasted Market Size By Type
  10.4.1 Pure Electric Vehicles
  10.4.2 Hybrid Electric Vehicles
 10.5 Historic and Forecasted Market Size By Battery Type
  10.5.1 Lead Acid Battery
  10.5.2 Lithium-Ion Battery
 10.6 Historic and Forecasted Market Size By Application
  10.6.1 Civil
  10.6.2 Commercial
 10.7 Historic and Forecast Market Size by Country
  10.7.1 U.S.
  10.7.2 Canada
  10.7.3 Mexico

Chapter 11: Europe Micro Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
 11.1 Key Market Trends, Growth Factors and Opportunities
 11.2 Impact of Covid-19
 11.3 Key Players
 11.4 Key Market Trends, Growth Factors and Opportunities
 11.4 Historic and Forecasted Market Size By Type
  11.4.1 Pure Electric Vehicles
  11.4.2 Hybrid Electric Vehicles
 11.5 Historic and Forecasted Market Size By Battery Type
  11.5.1 Lead Acid Battery
  11.5.2 Lithium-Ion Battery
 11.6 Historic and Forecasted Market Size By Application
  11.6.1 Civil
  11.6.2 Commercial
 11.7 Historic and Forecast Market Size by Country
  11.7.1 Germany
  11.7.2 U.K.
  11.7.3 France
  11.7.4 Italy
  11.7.5 Russia
  11.7.6 Spain
  11.7.7 Rest of Europe

Chapter 12: Asia-Pacific Micro Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
 12.1 Key Market Trends, Growth Factors and Opportunities
 12.2 Impact of Covid-19
 12.3 Key Players
 12.4 Key Market Trends, Growth Factors and Opportunities
 12.4 Historic and Forecasted Market Size By Type
  12.4.1 Pure Electric Vehicles
  12.4.2 Hybrid Electric Vehicles
 12.5 Historic and Forecasted Market Size By Battery Type
  12.5.1 Lead Acid Battery
  12.5.2 Lithium-Ion Battery
 12.6 Historic and Forecasted Market Size By Application
  12.6.1 Civil
  12.6.2 Commercial
 12.7 Historic and Forecast Market Size by Country
  12.7.1 China
  12.7.2 India
  12.7.3 Japan
  12.7.4 Singapore
  12.7.5 Australia
  12.7.6 New Zealand
  12.7.7 Rest of APAC

Chapter 13: Middle East & Africa Micro Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
 13.1 Key Market Trends, Growth Factors and Opportunities
 13.2 Impact of Covid-19
 13.3 Key Players
 13.4 Key Market Trends, Growth Factors and Opportunities
 13.4 Historic and Forecasted Market Size By Type
  13.4.1 Pure Electric Vehicles
  13.4.2 Hybrid Electric Vehicles
 13.5 Historic and Forecasted Market Size By Battery Type
  13.5.1 Lead Acid Battery
  13.5.2 Lithium-Ion Battery
 13.6 Historic and Forecasted Market Size By Application
  13.6.1 Civil
  13.6.2 Commercial
 13.7 Historic and Forecast Market Size by Country
  13.7.1 Turkey
  13.7.2 Saudi Arabia
  13.7.3 Iran
  13.7.4 UAE
  13.7.5 Africa
  13.7.6 Rest of MEA

Chapter 14: South America Micro Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
 14.1 Key Market Trends, Growth Factors and Opportunities
 14.2 Impact of Covid-19
 14.3 Key Players
 14.4 Key Market Trends, Growth Factors and Opportunities
 14.4 Historic and Forecasted Market Size By Type
  14.4.1 Pure Electric Vehicles
  14.4.2 Hybrid Electric Vehicles
 14.5 Historic and Forecasted Market Size By Battery Type
  14.5.1 Lead Acid Battery
  14.5.2 Lithium-Ion Battery
 14.6 Historic and Forecasted Market Size By Application
  14.6.1 Civil
  14.6.2 Commercial
 14.7 Historic and Forecast Market Size by Country
  14.7.1 Brazil
  14.7.2 Argentina
  14.7.3 Rest of SA

Chapter 15 Investment Analysis

Chapter 16 Analyst Viewpoint and Conclusion

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. MICRO ELECTRIC VEHICLE MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. MICRO ELECTRIC VEHICLE MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. MICRO ELECTRIC VEHICLE MARKET COMPETITIVE RIVALRY
TABLE 005. MICRO ELECTRIC VEHICLE MARKET THREAT OF NEW ENTRANTS
TABLE 006. MICRO ELECTRIC VEHICLE MARKET THREAT OF SUBSTITUTES
TABLE 007. MICRO ELECTRIC VEHICLE MARKET BY TYPE
TABLE 008. PURE ELECTRIC VEHICLES MARKET OVERVIEW (2016-2028)
TABLE 009. HYBRID ELECTRIC VEHICLES MARKET OVERVIEW (2016-2028)
TABLE 010. MICRO ELECTRIC VEHICLE MARKET BY BATTERY TYPE
TABLE 011. LEAD ACID BATTERY MARKET OVERVIEW (2016-2028)
TABLE 012. LITHIUM-ION BATTERY MARKET OVERVIEW (2016-2028)
TABLE 013. MICRO ELECTRIC VEHICLE MARKET BY APPLICATION
TABLE 014. CIVIL MARKET OVERVIEW (2016-2028)
TABLE 015. COMMERCIAL MARKET OVERVIEW (2016-2028)
TABLE 016. NORTH AMERICA MICRO ELECTRIC VEHICLE MARKET, BY TYPE (2016-2028)
TABLE 017. NORTH AMERICA MICRO ELECTRIC VEHICLE MARKET, BY BATTERY TYPE (2016-2028)
TABLE 018. NORTH AMERICA MICRO ELECTRIC VEHICLE MARKET, BY APPLICATION (2016-2028)
TABLE 019. N MICRO ELECTRIC VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 020. EUROPE MICRO ELECTRIC VEHICLE MARKET, BY TYPE (2016-2028)
TABLE 021. EUROPE MICRO ELECTRIC VEHICLE MARKET, BY BATTERY TYPE (2016-2028)
TABLE 022. EUROPE MICRO ELECTRIC VEHICLE MARKET, BY APPLICATION (2016-2028)
TABLE 023. MICRO ELECTRIC VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 024. ASIA PACIFIC MICRO ELECTRIC VEHICLE MARKET, BY TYPE (2016-2028)
TABLE 025. ASIA PACIFIC MICRO ELECTRIC VEHICLE MARKET, BY BATTERY TYPE (2016-2028)
TABLE 026. ASIA PACIFIC MICRO ELECTRIC VEHICLE MARKET, BY APPLICATION (2016-2028)
TABLE 027. MICRO ELECTRIC VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 028. MIDDLE EAST & AFRICA MICRO ELECTRIC VEHICLE MARKET, BY TYPE (2016-2028)
TABLE 029. MIDDLE EAST & AFRICA MICRO ELECTRIC VEHICLE MARKET, BY BATTERY TYPE (2016-2028)
TABLE 030. MIDDLE EAST & AFRICA MICRO ELECTRIC VEHICLE MARKET, BY APPLICATION (2016-2028)
TABLE 031. MICRO ELECTRIC VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 032. SOUTH AMERICA MICRO ELECTRIC VEHICLE MARKET, BY TYPE (2016-2028)
TABLE 033. SOUTH AMERICA MICRO ELECTRIC VEHICLE MARKET, BY BATTERY TYPE (2016-2028)
TABLE 034. SOUTH AMERICA MICRO ELECTRIC VEHICLE MARKET, BY APPLICATION (2016-2028)
TABLE 035. MICRO ELECTRIC VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 036. TEXTRON: SNAPSHOT
TABLE 037. TEXTRON: BUSINESS PERFORMANCE
TABLE 038. TEXTRON: PRODUCT PORTFOLIO
TABLE 039. TEXTRON: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 039. POLARIS INC.: SNAPSHOT
TABLE 040. POLARIS INC.: BUSINESS PERFORMANCE
TABLE 041. POLARIS INC.: PRODUCT PORTFOLIO
TABLE 042. POLARIS INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 042. BAOYA: SNAPSHOT
TABLE 043. BAOYA: BUSINESS PERFORMANCE
TABLE 044. BAOYA: PRODUCT PORTFOLIO
TABLE 045. BAOYA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 045. CLUB CAR: SNAPSHOT
TABLE 046. CLUB CAR: BUSINESS PERFORMANCE
TABLE 047. CLUB CAR: PRODUCT PORTFOLIO
TABLE 048. CLUB CAR: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 048. YAMAHA GOLF-CAR COMPANY: SNAPSHOT
TABLE 049. YAMAHA GOLF-CAR COMPANY: BUSINESS PERFORMANCE
TABLE 050. YAMAHA GOLF-CAR COMPANY: PRODUCT PORTFOLIO
TABLE 051. YAMAHA GOLF-CAR COMPANY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 051. ITALCAR INDUSTRIAL S.R.L.: SNAPSHOT
TABLE 052. ITALCAR INDUSTRIAL S.R.L.: BUSINESS PERFORMANCE
TABLE 053. ITALCAR INDUSTRIAL S.R.L.: PRODUCT PORTFOLIO
TABLE 054. ITALCAR INDUSTRIAL S.R.L.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 054. YOGOMO: SNAPSHOT
TABLE 055. YOGOMO: BUSINESS PERFORMANCE
TABLE 056. YOGOMO: PRODUCT PORTFOLIO
TABLE 057. YOGOMO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 057. RENAULT GROUP: SNAPSHOT
TABLE 058. RENAULT GROUP: BUSINESS PERFORMANCE
TABLE 059. RENAULT GROUP: PRODUCT PORTFOLIO
TABLE 060. RENAULT GROUP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 060. OTHER MAJOR PLAYERS: SNAPSHOT
TABLE 061. OTHER MAJOR PLAYERS: BUSINESS PERFORMANCE
TABLE 062. OTHER MAJOR PLAYERS: PRODUCT PORTFOLIO
TABLE 063. OTHER MAJOR PLAYERS: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. MICRO ELECTRIC VEHICLE MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. MICRO ELECTRIC VEHICLE MARKET OVERVIEW BY TYPE
FIGURE 012. PURE ELECTRIC VEHICLES MARKET OVERVIEW (2016-2028)
FIGURE 013. HYBRID ELECTRIC VEHICLES MARKET OVERVIEW (2016-2028)
FIGURE 014. MICRO ELECTRIC VEHICLE MARKET OVERVIEW BY BATTERY TYPE
FIGURE 015. LEAD ACID BATTERY MARKET OVERVIEW (2016-2028)
FIGURE 016. LITHIUM-ION BATTERY MARKET OVERVIEW (2016-2028)
FIGURE 017. MICRO ELECTRIC VEHICLE MARKET OVERVIEW BY APPLICATION
FIGURE 018. CIVIL MARKET OVERVIEW (2016-2028)
FIGURE 019. COMMERCIAL MARKET OVERVIEW (2016-2028)
FIGURE 020. NORTH AMERICA MICRO ELECTRIC VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 021. EUROPE MICRO ELECTRIC VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 022. ASIA PACIFIC MICRO ELECTRIC VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 023. MIDDLE EAST & AFRICA MICRO ELECTRIC VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 024. SOUTH AMERICA MICRO ELECTRIC VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)