Global Micro EV Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Battery Type, By Application, By Geographic Coverage and By Company)
Published Date: Jul 2023 |
Format:
| No. of Pages: 155
Industry: Automotive & Transport | Author Name: Harshad
Toward the end of 2030, the market valuation of micro EVs is expected to reach US$20.8 Bn.
In terms of revenue, the global micro EV market will rise at a significant CAGR of 12.9% CAGR during the period of assessment 2023 - 2030.
The market growth has been attributed to the increased demand for electric vehicles around the world, and growing awareness of greener transportation options. Several governments are enacting legislation and providing incentives to encourage the use of EVs, especially tiny EVs. Benefits in form of tax breaks, refunds, and subsidies will drive the sales further.
The Li-ion battery category held the largest share of the market in 2022. By application, the building-integrated photovoltaics (BIPV) category in application-for electronics led the market in 2022. Led by China, Asia Pacific will most likely be the leading regional market segment through the end of 2030.
Polaris Inc., Club Car, Italcar Industrial S.r.l., Micro Mobility Systems Ltd., Zhejiang Geely Holding Group Co., Ltd., Toyota Motor Corporation, and Eli Electric Vehicles are some of the leading players highlighted by the report.
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