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Micro EVs-Global Market Insights and Sales Trends 2025
Synopsis
A micro electric vehicle (EV) is a four-wheeled electric powered micro vehicle with an attainable speed of more than 20 miles per hour but not more than 25 miles per hour (in China, not more than 70 kilometers per hour) on a paved surface, and it usually has a gross vehicle weight rating (GVWR) of less than 3,000 pounds.
Neighborhood electric vehicles (NEVs), golf carts and utility terrain vehicles all fall into this category.
The global Micro EVs market size is expected to reach US$ 12360 million by 2029, growing at a CAGR of 6.0% from 2023 to 2029. The market is mainly driven by the significant applications of Micro EVs in various end use industries. The expanding demands from the Personal Use, Commercial Use (Sightseeing, Golf etc.) and Public Utilities,, are propelling Micro EVs market. Lead-acid Battery EVs, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Lithium-ion Battery EVs segment is estimated at % CAGR for the next seven-year period.
China is the largest region of Micro EVs, with a market share about 70%. Textron, Yamaha and Polaris are the major manufacturers of industry.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Micro EVs, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Micro EVs market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Micro EVs market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Micro EVs sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Micro EVs covered in this report include Yogomo, Shifeng, Textron, Dojo, Byvin, Polaris, Lichi, Baoya and Tangjun, etc.
The global Micro EVs market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Yogomo
Shifeng
Textron
Dojo
Byvin
Polaris
Lichi
Baoya
Tangjun
Yamaha
Fulu
Xinyuzhou
GreenWheel EV
Incalu
Kandi
Renault
APACHE
Garia
Zheren
Ingersoll Rand
CitEcar Electric Vehicles
Eagle
Taiqi
Global Micro EVs market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Micro EVs market, Segment by Type:
Lead-acid Battery EVs
Lithium-ion Battery EVs
Global Micro EVs market, by Application
Personal Use
Commercial Use (Sightseeing, Golf etc.)
Public Utilities
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Micro EVs manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Micro EVs in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
A micro electric vehicle (EV) is a four-wheeled electric powered micro vehicle with an attainable speed of more than 20 miles per hour but not more than 25 miles per hour (in China, not more than 70 kilometers per hour) on a paved surface, and it usually has a gross vehicle weight rating (GVWR) of less than 3,000 pounds.
Neighborhood electric vehicles (NEVs), golf carts and utility terrain vehicles all fall into this category.
The global Micro EVs market size is expected to reach US$ 12360 million by 2029, growing at a CAGR of 6.0% from 2023 to 2029. The market is mainly driven by the significant applications of Micro EVs in various end use industries. The expanding demands from the Personal Use, Commercial Use (Sightseeing, Golf etc.) and Public Utilities,, are propelling Micro EVs market. Lead-acid Battery EVs, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Lithium-ion Battery EVs segment is estimated at % CAGR for the next seven-year period.
China is the largest region of Micro EVs, with a market share about 70%. Textron, Yamaha and Polaris are the major manufacturers of industry.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Micro EVs, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Micro EVs market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Micro EVs market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Micro EVs sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Micro EVs covered in this report include Yogomo, Shifeng, Textron, Dojo, Byvin, Polaris, Lichi, Baoya and Tangjun, etc.
The global Micro EVs market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Yogomo
Shifeng
Textron
Dojo
Byvin
Polaris
Lichi
Baoya
Tangjun
Yamaha
Fulu
Xinyuzhou
GreenWheel EV
Incalu
Kandi
Renault
APACHE
Garia
Zheren
Ingersoll Rand
CitEcar Electric Vehicles
Eagle
Taiqi
Global Micro EVs market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Micro EVs market, Segment by Type:
Lead-acid Battery EVs
Lithium-ion Battery EVs
Global Micro EVs market, by Application
Personal Use
Commercial Use (Sightseeing, Golf etc.)
Public Utilities
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Micro EVs manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Micro EVs in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Micro EVs Market Overview
1.1 Micro EVs Product Overview
1.2 Micro EVs Market Segment by Type
1.2.1 Lead-acid Battery EVs
1.2.2 Lithium-ion Battery EVs
1.3 Global Micro EVs Market Size by Type
1.3.1 Global Micro EVs Market Size Overview by Type (2018-2029)
1.3.2 Global Micro EVs Historic Market Size Review by Type (2018-2023)
1.3.3 Global Micro EVs Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Micro EVs Sales Breakdown by Type (2018-2023)
1.4.2 Europe Micro EVs Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Micro EVs Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Micro EVs Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Micro EVs Sales Breakdown by Type (2018-2023)
2 Global Micro EVs Market Competition by Company
2.1 Global Top Players by Micro EVs Sales (2018-2023)
2.2 Global Top Players by Micro EVs Revenue (2018-2023)
2.3 Global Top Players by Micro EVs Price (2018-2023)
2.4 Global Top Manufacturers Micro EVs Manufacturing Base Distribution, Sales Area, Product Type
2.5 Micro EVs Market Competitive Situation and Trends
2.5.1 Micro EVs Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Micro EVs Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Micro EVs as of 2022)
2.7 Date of Key Manufacturers Enter into Micro EVs Market
2.8 Key Manufacturers Micro EVs Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Micro EVs Status and Outlook by Region
3.1 Global Micro EVs Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Micro EVs Historic Market Size by Region
3.2.1 Global Micro EVs Sales in Volume by Region (2018-2023)
3.2.2 Global Micro EVs Sales in Value by Region (2018-2023)
3.2.3 Global Micro EVs Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Micro EVs Forecasted Market Size by Region
3.3.1 Global Micro EVs Sales in Volume by Region (2024-2029)
3.3.2 Global Micro EVs Sales in Value by Region (2024-2029)
3.3.3 Global Micro EVs Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Micro EVs by Application
4.1 Micro EVs Market Segment by Application
4.1.1 Personal Use
4.1.2 Commercial Use (Sightseeing, Golf etc.)
4.1.3 Public Utilities
4.2 Global Micro EVs Market Size by Application
4.2.1 Global Micro EVs Market Size Overview by Application (2018-2029)
4.2.2 Global Micro EVs Historic Market Size Review by Application (2018-2023)
4.2.3 Global Micro EVs Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Micro EVs Sales Breakdown by Application (2018-2023)
4.3.2 Europe Micro EVs Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Micro EVs Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Micro EVs Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Micro EVs Sales Breakdown by Application (2018-2023)
5 North America Micro EVs by Country
5.1 North America Micro EVs Historic Market Size by Country
5.1.1 North America Micro EVs Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Micro EVs Sales in Volume by Country (2018-2023)
5.1.3 North America Micro EVs Sales in Value by Country (2018-2023)
5.2 North America Micro EVs Forecasted Market Size by Country
5.2.1 North America Micro EVs Sales in Volume by Country (2024-2029)
5.2.2 North America Micro EVs Sales in Value by Country (2024-2029)
6 Europe Micro EVs by Country
6.1 Europe Micro EVs Historic Market Size by Country
6.1.1 Europe Micro EVs Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Micro EVs Sales in Volume by Country (2018-2023)
6.1.3 Europe Micro EVs Sales in Value by Country (2018-2023)
6.2 Europe Micro EVs Forecasted Market Size by Country
6.2.1 Europe Micro EVs Sales in Volume by Country (2024-2029)
6.2.2 Europe Micro EVs Sales in Value by Country (2024-2029)
7 Asia-Pacific Micro EVs by Region
7.1 Asia-Pacific Micro EVs Historic Market Size by Region
7.1.1 Asia-Pacific Micro EVs Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Micro EVs Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Micro EVs Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Micro EVs Forecasted Market Size by Region
7.2.1 Asia-Pacific Micro EVs Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Micro EVs Sales in Value by Region (2024-2029)
8 Latin America Micro EVs by Country
8.1 Latin America Micro EVs Historic Market Size by Country
8.1.1 Latin America Micro EVs Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Micro EVs Sales in Volume by Country (2018-2023)
8.1.3 Latin America Micro EVs Sales in Value by Country (2018-2023)
8.2 Latin America Micro EVs Forecasted Market Size by Country
8.2.1 Latin America Micro EVs Sales in Volume by Country (2024-2029)
8.2.2 Latin America Micro EVs Sales in Value by Country (2024-2029)
9 Middle East and Africa Micro EVs by Country
9.1 Middle East and Africa Micro EVs Historic Market Size by Country
9.1.1 Middle East and Africa Micro EVs Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Micro EVs Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Micro EVs Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Micro EVs Forecasted Market Size by Country
9.2.1 Middle East and Africa Micro EVs Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Micro EVs Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Yogomo
10.1.1 Yogomo Company Information
10.1.2 Yogomo Introduction and Business Overview
10.1.3 Yogomo Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Yogomo Micro EVs Products Offered
10.1.5 Yogomo Recent Development
10.2 Shifeng
10.2.1 Shifeng Company Information
10.2.2 Shifeng Introduction and Business Overview
10.2.3 Shifeng Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Shifeng Micro EVs Products Offered
10.2.5 Shifeng Recent Development
10.3 Textron
10.3.1 Textron Company Information
10.3.2 Textron Introduction and Business Overview
10.3.3 Textron Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Textron Micro EVs Products Offered
10.3.5 Textron Recent Development
10.4 Dojo
10.4.1 Dojo Company Information
10.4.2 Dojo Introduction and Business Overview
10.4.3 Dojo Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Dojo Micro EVs Products Offered
10.4.5 Dojo Recent Development
10.5 Byvin
10.5.1 Byvin Company Information
10.5.2 Byvin Introduction and Business Overview
10.5.3 Byvin Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Byvin Micro EVs Products Offered
10.5.5 Byvin Recent Development
10.6 Polaris
10.6.1 Polaris Company Information
10.6.2 Polaris Introduction and Business Overview
10.6.3 Polaris Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Polaris Micro EVs Products Offered
10.6.5 Polaris Recent Development
10.7 Lichi
10.7.1 Lichi Company Information
10.7.2 Lichi Introduction and Business Overview
10.7.3 Lichi Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.7.4 Lichi Micro EVs Products Offered
10.7.5 Lichi Recent Development
10.8 Baoya
10.8.1 Baoya Company Information
10.8.2 Baoya Introduction and Business Overview
10.8.3 Baoya Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Baoya Micro EVs Products Offered
10.8.5 Baoya Recent Development
10.9 Tangjun
10.9.1 Tangjun Company Information
10.9.2 Tangjun Introduction and Business Overview
10.9.3 Tangjun Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.9.4 Tangjun Micro EVs Products Offered
10.9.5 Tangjun Recent Development
10.10 Yamaha
10.10.1 Yamaha Company Information
10.10.2 Yamaha Introduction and Business Overview
10.10.3 Yamaha Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.10.4 Yamaha Micro EVs Products Offered
10.10.5 Yamaha Recent Development
10.11 Fulu
10.11.1 Fulu Company Information
10.11.2 Fulu Introduction and Business Overview
10.11.3 Fulu Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.11.4 Fulu Micro EVs Products Offered
10.11.5 Fulu Recent Development
10.12 Xinyuzhou
10.12.1 Xinyuzhou Company Information
10.12.2 Xinyuzhou Introduction and Business Overview
10.12.3 Xinyuzhou Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.12.4 Xinyuzhou Micro EVs Products Offered
10.12.5 Xinyuzhou Recent Development
10.13 GreenWheel EV
10.13.1 GreenWheel EV Company Information
10.13.2 GreenWheel EV Introduction and Business Overview
10.13.3 GreenWheel EV Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.13.4 GreenWheel EV Micro EVs Products Offered
10.13.5 GreenWheel EV Recent Development
10.14 Incalu
10.14.1 Incalu Company Information
10.14.2 Incalu Introduction and Business Overview
10.14.3 Incalu Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.14.4 Incalu Micro EVs Products Offered
10.14.5 Incalu Recent Development
10.15 Kandi
10.15.1 Kandi Company Information
10.15.2 Kandi Introduction and Business Overview
10.15.3 Kandi Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.15.4 Kandi Micro EVs Products Offered
10.15.5 Kandi Recent Development
10.16 Renault
10.16.1 Renault Company Information
10.16.2 Renault Introduction and Business Overview
10.16.3 Renault Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.16.4 Renault Micro EVs Products Offered
10.16.5 Renault Recent Development
10.17 APACHE
10.17.1 APACHE Company Information
10.17.2 APACHE Introduction and Business Overview
10.17.3 APACHE Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.17.4 APACHE Micro EVs Products Offered
10.17.5 APACHE Recent Development
10.18 Garia
10.18.1 Garia Company Information
10.18.2 Garia Introduction and Business Overview
10.18.3 Garia Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.18.4 Garia Micro EVs Products Offered
10.18.5 Garia Recent Development
10.19 Zheren
10.19.1 Zheren Company Information
10.19.2 Zheren Introduction and Business Overview
10.19.3 Zheren Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.19.4 Zheren Micro EVs Products Offered
10.19.5 Zheren Recent Development
10.20 Ingersoll Rand
10.20.1 Ingersoll Rand Company Information
10.20.2 Ingersoll Rand Introduction and Business Overview
10.20.3 Ingersoll Rand Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.20.4 Ingersoll Rand Micro EVs Products Offered
10.20.5 Ingersoll Rand Recent Development
10.21 CitEcar Electric Vehicles
10.21.1 CitEcar Electric Vehicles Company Information
10.21.2 CitEcar Electric Vehicles Introduction and Business Overview
10.21.3 CitEcar Electric Vehicles Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.21.4 CitEcar Electric Vehicles Micro EVs Products Offered
10.21.5 CitEcar Electric Vehicles Recent Development
10.22 Eagle
10.22.1 Eagle Company Information
10.22.2 Eagle Introduction and Business Overview
10.22.3 Eagle Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.22.4 Eagle Micro EVs Products Offered
10.22.5 Eagle Recent Development
10.23 Taiqi
10.23.1 Taiqi Company Information
10.23.2 Taiqi Introduction and Business Overview
10.23.3 Taiqi Micro EVs Sales, Revenue and Gross Margin (2018-2023)
10.23.4 Taiqi Micro EVs Products Offered
10.23.5 Taiqi Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Micro EVs Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Micro EVs Industrial Chain Analysis
11.4 Micro EVs Market Dynamics
11.4.1 Micro EVs Industry Trends
11.4.2 Micro EVs Market Drivers
11.4.3 Micro EVs Market Challenges
11.4.4 Micro EVs Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Micro EVs Distributors
12.3 Micro EVs Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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