North America Low-Speed Electric Vehicle Market Forecast to 2030

At 4.9% CAGR, North America Low-Speed Electric Vehicle Market is Speculated to be worth US$ 3,777.38 million by 2030, says the Research Team

According to the Research Team’ research, the North America low-speed electric vehicle market was valued at US$ 2,577.70 million in 2022 and is expected to reach US$ 3,777.38 million by 2030, registering a CAGR of 4.9% from 2022 to 2030. Advent of Lithium-ion phosphate and sodium-ion batteries for electric vehicles is among the critical factors attributed to the North America low-speed electric vehicle market expansion.

Lithium-ion batteries are commonly used in the production of electric vehicles. However, the rising concern about the shortage of lithium is pushing the industry towards using lithium-ion phosphate and sodium-ion batteries. Lithium-ion phosphate is gaining momentum as an essential electric vehicle battery material in the automotive industry, with a prime focus on producing affordable electric vehicles. In 2023, Ford collaborated with CATL to set up a 35 GWh (gigawatt-hour) lithium-ion phosphate cell manufacturing factory in Michigan. In addition, sodium-ion batteries are equipped with faster charging times and can register a longer lifespan than lithium-ion batteries. Also, sodium-ion technology has been gaining popularity across the region, with few companies working towards commercializing it for electric vehicle applications. Thus, the advent of lithium-ion phosphate and sodium-ion batteries for electric vehicles is likely to fuel the low-speed electric vehicle market during the forecast period.

On the contrary, operational limitations of battery-operated electric vehicles hamper the growth of North America low-speed electric vehicle market.

Based on product, the North America low-speed electric vehicle market is bifurcated into passenger vehicle and utility vehicle. The passenger vehicle segment held 61.4% market share in 2022, amassing US$ 1,583.06 million. It is projected to garner US$ 2,268.45 million by 2030 to expand at 4.6% CAGR during 2022-2030.

In terms of end user, the North America low-speed electric vehicle market is categorized into golf courses, hotels & resorts, airports, residential & commercial, premises, and others. The golf courses segment held 40.5% share of North America low-speed electric vehicle market in 2022, amassing US$ 1,043.26 million. It is projected to garner US$ 1,494.73 million by 2030 to expand at 4.6% CAGR during 2022-2030.

By vehicle type, the North America low-speed electric vehicle market is categorized into golf carts, commercial turf utility vehicles, industrial utility vehicles, and personal mobility vehicles. The golf carts segment held 52.1% share of North America low-speed electric vehicle market in 2022, amassing US$ 1,343.53 million. It is projected to garner US$ 1,875.38 million by 2030 to expand at 4.3% CAGR during 2022-2030.

Based on country, the North America low-speed electric vehicle market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 75.9% share of North America low-speed electric vehicle market in 2022. It was assessed at US$ 1,955.94 million in 2022 and is likely to hit US$ 2,940.01 million by 2030, exhibiting a CAGR of 5.2% during 2022-2030.

Key players operating in the North America low-speed electric vehicle market are Cushman, Navya SA, Westward Industries Ltd, LVTong USA Golf Cars LLC, Aetric Electric Vehicles, American Custom Golf Cars Inc, Waev Inc, Yamaha Motor Co Ltd, Arcimoto Inc, Goggo Inc, Hawthorne Pacific Corp, Cruise Car Inc, Eli Electric Vehicles Inc, ELVY Inc, Yamaha Golf-Car Co, Xiamen Dalle Electric Car Co Ltd, Tomberlin, Club Car LLC, Renault SA, Deere & Co, The Toro Co, Crown Carts LLC, eTrikeCo Corp, Canadian Electric Vehicles Ltd, HDK Electric Vehicle Corp, Lohr SA, Daedong-USA Inc KIOTI Tractor Division, AGT Electric Cars, American Landmaster LLC, EV Titan LLC, Wink Motors Inc, Polaris Inc, Star EV Corp, EasyMile SAS, Momentum MotorWerks LLC, Martex Global Enterprise LLC, Atomic Cool Kartz USA Inc, Evolution Electric Vehicles Inc, Vitacci Motorcycles Inc, E-Z-Go, Prairie Turf Pros LLC, Moto Electric Vehicle and More LLC, Movex Innovation Inc, ICON EV LLC, King of Carts LLC, Moke America LLC, Quickie Products LLC, United Smart EV America LLC, Vantage Tag Systems Inc, and Columbia Vehicle Group Inc, among others.

In Aug 2023, All-New ‘Neighborhood Vehicle’ Can Run On Free Energy From The Sun – And It’s Incredibly Cheap To Drive.

In May 2023, Arcimoto Announces Availability of the All-New Electric Modular Utility Vehicle.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America low-speed electric vehicle market.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the North America low-speed electric vehicle market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America low-speed electric vehicle market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Low-Speed Electric Vehicles Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers/Component Suppliers:
4.3.2 Low-Speed Electric Vehicles Manufacturers:
4.3.3 End Users:
5. North America Low-Speed Electric Vehicles Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growing Concerns Regarding Greenhouse Gas Emission
5.1.2 Increasing Government Support for Electric Vehicles
5.1.3 Rising Affordability of Electric Vehicles
5.1.4 Phasing Out of Internal Combustion Engines
5.2 Restraints
5.2.1 Operational Limitations of Battery-operated Electric Vehicles
5.2.2 High Initial Expenditure
5.3 Opportunities
5.3.1 Usage of Low-speed Electric Vehicles in Different Sectors
5.3.2 Increasing Job Opportunities in EV Manufacturing Facilities
5.4 Future Trends
5.4.1 Advent of Lithium-ion Phosphate and Sodium-ion Batteries for Electric Vehicles
5.5 Impact of Drivers and Restraints:
6. Low-Speed Electric Vehicles Market – North America Market Analysis
6.1 North America Low-Speed Electric Vehicles Market Revenue (US$ Million), 2022 – 2030
6.2 North America Low-Speed Electric Vehicles Market Forecast and Analysis
7. North America Low-Speed Electric Vehicles Market Analysis – Product
7.1 Overview
7.1.1 Low-Speed Electric Vehicles Market, by Product (2022 and 2030)
7.2 Passenger Vehicle
7.2.1 Overview
7.2.2 Passenger Vehicle Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Utility Vehicle
7.3.1 Overview
7.3.2 Utility Vehicle Market, Revenue and Forecast to 2030 (US$ Million)
8. North America Low-Speed Electric Vehicles Market Analysis – End User
8.1 Overview
8.1.1 North America Low-Speed Electric Vehicles Market, by End User (2022 and 2030)
8.2 Golf Courses
8.2.1 Overview
8.2.2 Golf Courses Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Hotels & Resorts
8.3.1 Overview
8.3.2 Hotels & Resorts Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Airports
8.4.1 Overview
8.4.2 Airports Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Residential & Commercial Premises
8.5.1 Overview
8.5.2 Residential & Commercial Premises Market Revenue, and Forecast to 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
9. North America Low-Speed Electric Vehicles Market Analysis – Vehicle Type
9.1 Overview
9.1.1 North America Low-Speed Electric Vehicles Market, by Vehicle Type (2022 and 2030)
9.2 Golf Carts
9.2.1 Overview
9.2.2 Golf Carts Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Commercial Turf Utility Vehicles
9.3.1 Overview
9.3.2 Commercial Turf Utility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Industrial Utility Vehicles
9.4.1 Overview
9.4.2 Industrial Utility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
9.5 Personal Mobility Vehicles
9.5.1 Overview
9.5.2 Personal Mobility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
10. North America Low-Speed Electric Vehicles Market – Country Analysis
10.1 North America
10.1.1 Overview
10.1.2 North America Low-Speed Electric Vehicles Market Revenue and Forecasts and Analysis – By Country
10.1.2.1 North America Low-Speed Electric Vehicles Market Revenue and Forecasts and Analysis – By Country
10.1.2.2 US Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.2.1 United States Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.2.2 United States Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.2.3 United States Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
10.1.2.3 Canada Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.3.1 Canada Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.3.2 Canada Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.3.3 Canada Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
10.1.2.4 Mexico Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.4.1 Mexico Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.4.2 Mexico Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.4.3 Mexico Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Cushman
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Navya SA
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Westward Industries Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 LVTong USA Golf Cars LLC
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Aetric Electric Vehicles
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 American Custom Golf Cars Inc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Waev Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Yamaha Motor Co Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Arcimoto Inc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Goggo Inc
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Hawthorne Pacific Corp
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 Cruise Car Inc
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
12.13 Eli Electric Vehicles Inc
12.13.1 Key Facts
12.13.2 Business Description
12.13.3 Products and Services
12.13.4 Financial Overview
12.13.5 SWOT Analysis
12.13.6 Key Developments
12.14 ELVY Inc
12.14.1 Key Facts
12.14.2 Business Description
12.14.3 Products and Services
12.14.4 Financial Overview
12.14.5 SWOT Analysis
12.14.6 Key Developments
12.15 Yamaha Golf-Car Co
12.15.1 Key Facts
12.15.2 Business Description
12.15.3 Products and Services
12.15.4 Financial Overview
12.15.5 SWOT Analysis
12.15.6 Key Developments
12.16 Xiamen Dalle Electric Car Co Ltd
12.16.1 Key Facts
12.16.2 Business Description
12.16.3 Products and Services
12.16.4 Financial Overview
12.16.5 SWOT Analysis
12.16.6 Key Developments
12.17 Tomberlin
12.17.1 Key Facts
12.17.2 Business Description
12.17.3 Products and Services
12.17.4 Financial Overview
12.17.5 SWOT Analysis
12.17.6 Key Developments
12.18 Club Car LLC
12.18.1 Key Facts
12.18.2 Business Description
12.18.3 Products and Services
12.18.4 Financial Overview
12.18.5 SWOT Analysis
12.18.6 Key Developments
12.19 Renault SA
12.19.1 Key Facts
12.19.2 Business Description
12.19.3 Products and Services
12.19.4 Financial Overview
12.19.5 SWOT Analysis
12.19.6 Key Developments
12.20 Deere & Co
12.20.1 Key Facts
12.20.2 Business Description
12.20.3 Products and Services
12.20.4 Financial Overview
12.20.5 SWOT Analysis
12.20.6 Key Developments
12.21 The Toro Co
12.21.1 Key Facts
12.21.2 Business Description
12.21.3 Products and Services
12.21.4 Financial Overview
12.21.5 SWOT Analysis
12.21.6 Key Developments
12.22 Crown Carts LLC
12.22.1 Key Facts
12.22.2 Business Description
12.22.3 Products and Services
12.22.4 Financial Overview
12.22.5 SWOT Analysis
12.22.6 Key Developments
12.23 eTrikeCo Corp
12.23.1 Key Facts
12.23.2 Business Description
12.23.3 Products and Services
12.23.4 Financial Overview
12.23.5 SWOT Analysis
12.23.6 Key Developments
12.24 Canadian Electric Vehicles Ltd
12.24.1 Key Facts
12.24.2 Business Description
12.24.3 Products and Services
12.24.4 Financial Overview
12.24.5 SWOT Analysis
12.24.6 Key Developments
12.25 HDK Electric Vehicle Corp
12.25.1 Key Facts
12.25.2 Business Description
12.25.3 Products and Services
12.25.4 Financial Overview
12.25.5 SWOT Analysis
12.25.6 Key Developments
12.26 Lohr SA
12.26.1 Key Facts
12.26.2 Business Description
12.26.3 Products and Services
12.26.4 Financial Overview
12.26.5 SWOT Analysis
12.26.6 Key Developments
12.27 Daedong-USA Inc KIOTI Tractor Division
12.27.1 Key Facts
12.27.2 Business Description
12.27.3 Products and Services
12.27.4 Financial Overview
12.27.5 SWOT Analysis
12.27.6 Key Developments
12.28 AGT Electric Cars
12.28.1 Key Facts
12.28.2 Business Description
12.28.3 Products and Services
12.28.4 Financial Overview
12.28.5 SWOT Analysis
12.28.6 Key Developments
12.29 American Landmaster LLC
12.29.1 Key Facts
12.29.2 Business Description
12.29.3 Products and Services
12.29.4 Financial Overview
12.29.5 SWOT Analysis
12.29.6 Key Developments
12.30 EV Titan LLC
12.30.1 Key Facts
12.30.2 Business Description
12.30.3 Products and Services
12.30.4 Financial Overview
12.30.5 SWOT Analysis
12.30.6 Key Developments
12.31 Wink Motors Inc
12.31.1 Key Facts
12.31.2 Business Description
12.31.3 Products and Services
12.31.4 Financial Overview
12.31.5 SWOT Analysis
12.31.6 Key Developments
12.32 Polaris Inc
12.32.1 Key Facts
12.32.2 Business Description
12.32.3 Products and Services
12.32.4 Financial Overview
12.32.5 SWOT Analysis
12.32.6 Key Developments
12.33 Star EV Corp
12.33.1 Key Facts
12.33.2 Business Description
12.33.3 Products and Services
12.33.4 Financial Overview
12.33.5 SWOT Analysis
12.33.6 Key Developments
12.34 EasyMile SAS
12.34.1 Key Facts
12.34.2 Business Description
12.34.3 Products and Services
12.34.4 Financial Overview
12.34.5 SWOT Analysis
12.34.6 Key Developments
12.35 Momentum MotorWerks LLC
12.35.1 Key Facts
12.35.2 Business Description
12.35.3 Products and Services
12.35.4 Financial Overview
12.35.5 SWOT Analysis
12.35.6 Key Developments
12.36 Martex Global Enterprise LLC
12.36.1 Key Facts
12.36.2 Business Description
12.36.3 Products and Services
12.36.4 Financial Overview
12.36.5 SWOT Analysis
12.36.6 Key Developments
12.37 Atomic Cool Kartz USA Inc
12.37.1 Key Facts
12.37.2 Business Description
12.37.3 Products and Services
12.37.4 Financial Overview
12.37.5 SWOT Analysis
12.37.6 Key Developments
12.38 Evolution Electric Vehicles Inc
12.38.1 Key Facts
12.38.2 Business Description
12.38.3 Products and Services
12.38.4 Financial Overview
12.38.5 SWOT Analysis
12.38.6 Key Developments
12.39 Vitacci Motorcycles Inc
12.39.1 Key Facts
12.39.2 Business Description
12.39.3 Products and Services
12.39.4 Financial Overview
12.39.5 SWOT Analysis
12.39.6 Key Developments
12.40 E-Z-Go
12.40.1 Key Facts
12.40.2 Business Description
12.40.3 Products and Services
12.40.4 Financial Overview
12.40.5 SWOT Analysis
12.40.6 Key Developments
12.41 Prairie Turf Pros LLC
12.41.1 Key Facts
12.41.2 Business Description
12.41.3 Products and Services
12.41.4 Financial Overview
12.41.5 SWOT Analysis
12.41.6 Key Developments
12.42 Moto Electric Vehicle and More LLC
12.42.1 Key Facts
12.42.2 Business Description
12.42.3 Products and Services
12.42.4 Financial Overview
12.42.5 SWOT Analysis
12.42.6 Key Developments
12.43 Movex Innovation Inc
12.43.1 Key Facts
12.43.2 Business Description
12.43.3 Products and Services
12.43.4 Financial Overview
12.43.5 SWOT Analysis
12.43.6 Key Developments
12.44 ICON EV LLC
12.44.1 Key Facts
12.44.2 Business Description
12.44.3 Products and Services
12.44.4 Financial Overview
12.44.5 SWOT Analysis
12.44.6 Key Developments
12.45 King of Carts LLC
12.45.1 Key Facts
12.45.2 Business Description
12.45.3 Products and Services
12.45.4 Financial Overview
12.45.5 SWOT Analysis
12.45.6 Key Developments
12.46 Moke America LLC
12.46.1 Key Facts
12.46.2 Business Description
12.46.3 Products and Services
12.46.4 Financial Overview
12.46.5 SWOT Analysis
12.46.6 Key Developments
12.47 Quickie Products LLC
12.47.1 Key Facts
12.47.2 Business Description
12.47.3 Products and Services
12.47.4 Financial Overview
12.47.5 SWOT Analysis
12.47.6 Key Developments
12.48 United Smart EV America LLC
12.48.1 Key Facts
12.48.2 Business Description
12.48.3 Products and Services
12.48.4 Financial Overview
12.48.5 SWOT Analysis
12.48.6 Key Developments
12.49 Vantage Tag Systems Inc
12.49.1 Key Facts
12.49.2 Business Description
12.49.3 Products and Services
12.49.4 Financial Overview
12.49.5 SWOT Analysis
12.49.6 Key Developments
12.50 Columbia Vehicle Group Inc
12.50.1 Key Facts
12.50.2 Business Description
12.50.3 Products and Services
12.50.4 Financial Overview
12.50.5 SWOT Analysis
12.50.6 Key Developments
13. Appendix
13.1 About the Research Team
13.2 Word Index