Micro electric vehicles are driven by electric battery propulsion with a power rating of 4-10 KWh and are generally two to four-seater vehicles. This class of vehicles was earlier considered to belong to the category of electric vehicles, but as a result of the increased demand for this product and rapid growth of the market, they now form a separate market category. Analysts forecast the Global Micro Electric Vehicles market will grow at a CAGR of 14.91 percent over the period 2013-2018.
The Report recognizes the following companies as the key players in the Global Micro Electric Vehicles Market : Ingersoll Rand plc Polaris Industries Inc., Textron Inc., Yamaha Motor Corp. , Canadian Electric Vehicles Ltd., Chongqing Huansong Industries (Group) Co. Ltd., Columbia ParCar , E-Ride Industries , Italcar, Pride Mobility Products Corp. , Shenzhen Marshell Green Power Co. Ltd., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Tomberlin Automotive Group, Zhejiang Ruifeng (R & P) Industry Group coca cola management structure .
The focus of vendors has shifted to finding ways to extend the life of Li-ion batteries. These batteries are now used in a variety of applications such as cell phones, laptops, PCs, power tools, electric bikes, electric scooters, tablets, medical devices, UPS systems, and transit buses. These batteries have completely replaced lead-acid batteries in several applications. The Global Li-Ion Battery market for Hybrid and Electric Vehicles is expected to grow yearly at 20 percent till 2025.
Covered in this Report
The Global Micro Electric Vehicles market can be divided into three segments: Quadricycles, Golf Carts, and Mobility Vehicles for the Disabled. To calculate the market size, the report considers the revenue generated from the combined sales of all three segments. . In addition, the report discusses the major drivers that influence the growth of the Global Micro Electric Vehicles market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.
