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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.
Global Sales of Micro EVs surged in the past two years with the good sales of scooters in China market. Global Micro EVs are expected to sell 2.51 million units in 2025 and more than 80% will appear in China market, which exhibits a promising trend of the industry. For the products types, lithium ion batteries based Micro EVs are more favored in USA, Europe and Japan, while lead-acid batteries based products take a large market share in China.
Attracted by the market profits, more and more companies have entered into Micro EVs industry, the competition between manufacturers at home and abroad is fierce for the time being. For the major players of Micro EVs industry in global market, Textron, Yamaha and Polaris are the leaders. In the other side, China suppliers such as Yogomo, Dojo and Shifeng have obvious large sales market share.
For the fierce competition between suppliers, price and gross margin is expected to decrease further. Global average price of Micro EVs is predicted to decline 4.06 thousand USD/Unit in the end of 2025, for the manufacturers, gross margin is about 15%~23%.
According to this study, over the next five years the Micro EVs market will register a 8.3% CAGR in terms of revenue, the global market size will reach US$ 9220 million by 2024, from US$ 5720 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Micro EVs business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Micro EVs market by product type, application, key manufacturers and key regions and countries.
This study considers the Micro EVs value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Lead-acid Battery EVs
Lithium-ion Battery EVs
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Personal Use
Commercial Use (Sightseeing, Golf etc.)
Public Utilities
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
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
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Micro EVs consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Micro EVs market by identifying its various subsegments.
Focuses on the key global Micro EVs manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Micro EVs with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Micro EVs submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
Table of Contents
2019-2024 Global Micro EVs Consumption Market Report
1 Scope of the Report
1.1 Market Introduction
1.2 Research Objectives
1.3 Years Considered
1.4 Market Research Methodology
1.5 Economic Indicators
1.6 Currency Considered
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Micro EVs Consumption 2014-2024
2.1.2 Micro EVs Consumption CAGR by Region
2.2 Micro EVs Segment by Type
2.2.1 Lead-acid Battery EVs
2.2.2 Lithium-ion Battery EVs
2.3 Micro EVs Consumption by Type
2.3.1 Global Micro EVs Consumption Market Share by Type (2014-2019)
2.3.2 Global Micro EVs Revenue and Market Share by Type (2014-2019)
2.3.3 Global Micro EVs Sale Price by Type (2014-2019)
2.4 Micro EVs Segment by Application
2.4.1 Personal Use
2.4.2 Commercial Use (Sightseeing, Golf etc.)
2.4.3 Public Utilities
2.5 Micro EVs Consumption by Application
2.5.1 Global Micro EVs Consumption Market Share by Application (2014-2019)
2.5.2 Global Micro EVs Value and Market Share by Application (2014-2019)
2.5.3 Global Micro EVs Sale Price by Application (2014-2019)
3 Global Micro EVs by Players
3.1 Global Micro EVs Sales Market Share by Players
3.1.1 Global Micro EVs Sales by Players (2017-2019)
3.1.2 Global Micro EVs Sales Market Share by Players (2017-2019)
3.2 Global Micro EVs Revenue Market Share by Players
3.2.1 Global Micro EVs Revenue by Players (2017-2019)
3.2.2 Global Micro EVs Revenue Market Share by Players (2017-2019)
3.3 Global Micro EVs Sale Price by Players
3.4 Global Micro EVs Manufacturing Base Distribution, Sales Area, Product Types by Players
3.4.1 Global Micro EVs Manufacturing Base Distribution and Sales Area by Players
3.4.2 Players Micro EVs Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) (2017-2019)
3.6 New Products and Potential Entrants
3.7 Mergers & Acquisitions, Expansion
4 Micro EVs by Regions
4.1 Micro EVs by Regions
4.1.1 Global Micro EVs Consumption by Regions
4.1.2 Global Micro EVs Value by Regions
4.2 Americas Micro EVs Consumption Growth
4.3 APAC Micro EVs Consumption Growth
4.4 Europe Micro EVs Consumption Growth
4.5 Middle East & Africa Micro EVs Consumption Growth
5 Americas
5.1 Americas Micro EVs Consumption by Countries
5.1.1 Americas Micro EVs Consumption by Countries (2014-2019)
5.1.2 Americas Micro EVs Value by Countries (2014-2019)
5.2 Americas Micro EVs Consumption by Type
5.3 Americas Micro EVs Consumption by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Key Economic Indicators of Few Americas Countries
6 APAC
6.1 APAC Micro EVs Consumption by Countries
6.1.1 APAC Micro EVs Consumption by Countries (2014-2019)
6.1.2 APAC Micro EVs Value by Countries (2014-2019)
6.2 APAC Micro EVs Consumption by Type
6.3 APAC Micro EVs Consumption by Application
6.4 China
6.5 Japan
6.6 Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 Key Economic Indicators of Few APAC Countries
7 Europe
7.1 Europe Micro EVs by Countries
7.1.1 Europe Micro EVs Consumption by Countries (2014-2019)
7.1.2 Europe Micro EVs Value by Countries (2014-2019)
7.2 Europe Micro EVs Consumption by Type
7.3 Europe Micro EVs Consumption by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
7.9 Spain
7.10 Key Economic Indicators of Few Europe Countries
8 Middle East & Africa
8.1 Middle East & Africa Micro EVs by Countries
8.1.1 Middle East & Africa Micro EVs Consumption by Countries (2014-2019)
8.1.2 Middle East & Africa Micro EVs Value by Countries (2014-2019)
8.2 Middle East & Africa Micro EVs Consumption by Type
8.3 Middle East & Africa Micro EVs Consumption by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers and Impact
9.1.1 Growing Demand from Key Regions
9.1.2 Growing Demand from Key Applications and Potential Industries
9.2 Market Challenges and Impact
9.3 Market Trends
10 Marketing, Distributors and Customer
10.1 Sales Channel
10.1.1 Direct Channels
10.1.2 Indirect Channels
10.2 Micro EVs Distributors
10.3 Micro EVs Customer
11 Global Micro EVs Market Forecast
11.1 Global Micro EVs Consumption Forecast (2019-2024)
11.2 Global Micro EVs Forecast by Regions
11.2.1 Global Micro EVs Forecast by Regions (2019-2024)
11.2.2 Global Micro EVs Value Forecast by Regions (2019-2024)
11.2.3 Americas Consumption Forecast
11.2.4 APAC Consumption Forecast
11.2.5 Europe Consumption Forecast
11.2.6 Middle East & Africa Consumption Forecast
11.3 Americas Forecast by Countries
11.3.1 United States Market Forecast
11.3.2 Canada Market Forecast
11.3.3 Mexico Market Forecast
11.3.4 Brazil Market Forecast
11.4 APAC Forecast by Countries
11.4.1 China Market Forecast
11.4.2 Japan Market Forecast
11.4.3 Korea Market Forecast
11.4.4 Southeast Asia Market Forecast
11.4.5 India Market Forecast
11.4.6 Australia Market Forecast
11.5 Europe Forecast by Countries
11.5.1 Germany Market Forecast
11.5.2 France Market Forecast
11.5.3 UK Market Forecast
11.5.4 Italy Market Forecast
11.5.5 Russia Market Forecast
11.5.6 Spain Market Forecast
11.6 Middle East & Africa Forecast by Countries
11.6.1 Egypt Market Forecast
11.6.2 South Africa Market Forecast
11.6.3 Israel Market Forecast
11.6.4 Turkey Market Forecast
11.6.5 GCC Countries Market Forecast
11.7 Global Micro EVs Forecast by Type
11.8 Global Micro EVs Forecast by Application
12 Key Players Analysis
12.1 Yogomo
12.1.1 Company Details
12.1.2 Micro EVs Product Offered
12.1.3 Yogomo Micro EVs Sales, Revenue, Price and Gross Margin (2017-2019)
12.1.4 Main Business Overview
12.1.5 Yogomo News
12.2 Shifeng
12.2.1 Company Details
12.2.2 Micro EVs Product Offered
12.2.3 Shifeng Micro EVs Sales, Revenue, Price and Gross Margin (2017-2019)
12.2.4 Main Business Overview
12.2.5 Shifeng News
12.3 Textron
12.3.1 Company Details
12.3.2 Micro EVs Product Offered
12.3.3 Textron Micro EVs Sales, Revenue, Price and Gross Margin (2017-2019)
12.3.4 Main Business Overview
12.3.5 Textron News
12.4 Dojo
12.4.1 Company Details
12.4.2 Micro EVs Product Offered
12.4.3 Dojo Micro EVs Sales, Revenue, Price and Gross Margin (2017-2019)
12.4.4 Main Business Overview
12.4.5 Dojo News
12.5 Byvin
12.5.1 Company Details
12.5.2 Micro EVs Product Offered
12.5.3 Byvin Micro EVs Sales, Revenue, Price and Gross Margin (2017-2019)
12.5.4 Main Business Overview
12.5.5 Byvin News
12.6 Polaris
12.6.1 Company Details
12.6.2 Micro EVs Product Offered
12.6.3 Polaris Micro EVs Sales, Revenue, Price and Gross Margin (2017-2019)
12.6.4 Main Business Overview
12.6.5 Polaris News
12.7 Lichi
12.7.1 Company Details
12.7.2 Micro EVs Product Offered
12.7.3 Lichi Micro EVs Sales, Revenue, Price and Gross Margin (2017-2019)
12.7.4 Main Business Overview
12.7.5 Lichi News
12.8 Baoya
12.8.1 Company Details
12.8.2 Micro EVs Product Offered
12.8.3 Baoya Micro EVs Sales, Revenue, Price and Gross Margin (2017-2019)
12.8.4 Main Business Overview
12.8.5 Baoya News
12.9 Tangjun
12.9.1 Company Details
12.9.2 Micro EVs Product Offered
12.9.3 Tangjun Micro EVs Sales, Revenue, Price and Gross Margin (2017-2019)
12.9.4 Main Business Overview
12.9.5 Tangjun News
12.10 Yamaha
12.10.1 Company Details
12.10.2 Micro EVs Product Offered
12.10.3 Yamaha Micro EVs Sales, Revenue, Price and Gross Margin (2017-2019)
12.10.4 Main Business Overview
12.10.5 Yamaha News
12.11 Fulu
12.12 Xinyuzhou
12.13 GreenWheel EV
12.14 Incalu
12.15 Kandi
12.16 Renault
12.17 APACHE
12.18 Garia
12.19 Zheren
12.20 Ingersoll Rand
12.21 CitEcar Electric Vehicles
12.22 Eagle
12.23 Taiqi
13 Research Findings and Conclusion
List of Tables and Figures
Figure Picture of Micro EVs
Table Product Specifications of Micro EVs
Figure Micro EVs Report Years Considered
Figure Market Research Methodolo
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