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North America Low Speed Vehicle Market Size, Share, Trends: By Type: Commercial Turf Utility Vehicles, Golf Carts, Industrial Utility Vehicles, Personnel Carriers, Others; By Propulsion: Diesel, Electric, Gasoline; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 North America
7 Opportunities and Challenges in the Market
8 North America Low-Speed Vehicle Market Analysis
8.1 Key Industry Highlights
8.2 North America Low-Speed Vehicle Historical Market (2018-2023)
8.3 North America Low-Speed Vehicle Market Forecast (2024-2032)
8.4 North America Low-Speed Vehicle Market by Type
8.4.1 Commercial Turf Utility Vehicles
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Golf Carts
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Industrial Utility Vehicles
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Personnel Carriers
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 North America Low-Speed Vehicle Market by Propulsion
8.5.1 Diesel
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Electric
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Gasoline
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 North America Low-Speed Vehicle Market by Country
8.6.1 United States of America
8.6.2 Canada
9 Regional Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Club Car, LLC
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Cruise Car, Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 HDK Co., Ltd.
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Polaris Inc.
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Textron Specialized Vehicles, Inc.
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Others
12 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Low-Speed Vehicle Market: Key Industry Highlights, 2018 and 2032
2. North America Low-Speed Vehicle Historical Market: Breakup by Type (USD Million), 2018-2023
3. North America Low-Speed Vehicle Market Forecast: Breakup by Type (USD Million), 2024-2032
4. North America Low-Speed Vehicle Historical Market: Breakup by Propulsion (USD Million), 2018-2023
5. North America Low-Speed Vehicle Market Forecast: Breakup by Propulsion (USD Million), 2024-2032
6. North America Low-Speed Vehicle Historical Market: Breakup by Country (USD Million), 2018-2023
7. North America Low-Speed Vehicle Market Forecast: Breakup by Country (USD Million), 2024-2032
8. North America Low-Speed Vehicle Market Structure
Key Questions Answered in the Report
In 2023, the North America low-speed vehicle market reached an approximate value of USD 2.39 billion.
The market is expected to grow at a CAGR of 8.30% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 4.90 billion by 2032.
The major drivers of the market include the increasingly stringent emission norms and safety standards, growth of luxury tourism, government initiatives, and rising trend of using low speed vehicles in gated communities.
Key trends aiding market expansion include rising demand for eco-friendly vehicles and rising adoption of lower speed cars by geriatric population.
The major countries in the market are Canada and United States of America.
Based on type, the market is categorised into commercial turf utility vehicles, golf carts, industrial utility vehicles, and personnel carriers, among others.
Based on propulsion the market is classified into diesel, electric, and gasoline.
Key players in the market are Club Car, LLC, Cruise Car, Inc., HDK Co., Ltd., Polaris Inc., and Textron Specialized Vehicles, Inc., among others.
Analyst Review
The North America low speed vehicle market attained a value of USD 2.39 billion in 2023, driven by rising demand for eco-friendly vehicles. Aided by stringent emission norms and rising trend of using low speed vehicles in gated communities, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 8.30%. The market is projected to reach USD 4.90 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is categorised into commercial turf utility vehicles, golf carts, industrial utility vehicles, and personnel carriers, among others. Based on propulsion the market is classified into diesel, electric, and gasoline. The major countries of the North America low speed vehicle industry are Canada and United States of America. The key players in the above market are Club Car, LLC, Cruise Car, Inc., HDK Co., Ltd., Polaris Inc., and Textron Specialized Vehicles, Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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