Asia Pacific Low Speed Vehicle Market to Register Substantial Expansion by 2027

The Asia Pacific Low Speed Vehicle market is growing along with the Automotive and Transportation industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.

The market for Asia Pacific low speed vehicle is segmented into type, propulsion, and country. Based on type, the market is segmented into commercial turf utility vehicles, golf carts, industrial utility vehicles, and personnel carriers. Based on propulsion, the low speed vehicle market is segmented into electric, diesel, and gasoline. The electric-powered vehicles are anticipated to grow at the highest CAGR from 2020 to 2027. By country, the market is segmented into the Australia, China, India, Japan, South Korea, and Rest of APAC.

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For Asia Pacific Low Speed Vehicle market, Business Market Insights researchers observed that there has been an increase in the healthcare expenditure in the European countries during the past few years. In this region, Germany has a history of manufacturing high diagnostic imaging technologies, precision medical instruments and others. As per Eurostat in 2016, healthcare expenditure in Germany was EUR 352 billion. Medical technologies are the priority of Healthcare/Life Sciences (HCT) industry. Whereas the healthcare expenditure of France was recorded as the second highest which was around EUR 257 billion, followed by the United Kingdom EUR 234 billion.

These factors are expected to offer broad growth opportunities in the Automotive and Transportation industry and this is expected to cause the demand for Asia Pacific Low Speed Vehicle in the market.

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Asia Pacific Low Speed Vehicle Market – MARKET SEGMENTATION

Asia Pacific Low Speed Vehicle Market – By Type

• Commercial Turf Utility Vehicles
• Golf Carts
• Industrial Utility Vehicles
• Personnel Carriers

Asia Pacific Low Speed Vehicle Market – By Propulsion

• Diesel
• Electric
  • Less than 5 HP
  • 5 to 8 HP
  • More than 8 HP
• Gasoline

Asia Pacific Low Speed Vehicle Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

Asia-Pacific Low Speed Vehicle Market-Companies Mentioned

• Club Car, LLC
• Cruise Car, Inc.,
• Deere & Company
• Garia Utility
• Melex Ltd.
• Moto Electric Vehicles
• Polaris Inc.
• Textron Specialized Vehicles Inc.
• The Toro Company
• Yamaha Golf-Car Company

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