Light Electric Vehicles Market - Growth, Strategy Analysis, And Forecast 2032

Light Electric Vehicles Market Definition

A light electric vehicle or LEV refers to a land vehicle with two or three wheels, an electric motor, and an energy storage system like a battery or fuel cell. Its normal weight is less than 100kg. Most LEVs are e-bikes. These bikes have a throttle that allows for power-on-demand operation.

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Light Electric Vehicles Market Characteristics:

The global light electric vehicles market size is expected to grow from $71.17 billion in 2022 to $78.21 billion in 2023 at a compound annual growth rate (CAGR) of 9.9The global light electric vehicles market size is expected to grow to $111.58 billion in 2027 at a CAGR of 9.3%.

Key Market Drivers And Trends

Drivers Trends

The rising demand for e-motorcycles is expected to boost the growth of the light electric vehicle market

Product innovation is a key trend gaining popularity in the light electric vehicles market.

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Light Electric Vehicles Global Market Segments:

The report covers the light electric vehicles market’s segments-

By Product

Hybrid Electric Vehicle (HEV), Plugin Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV)

By Component Type

Battery Pack, Electric motor, Motor controller, Inverters, Power controller, E-brakes controller, Power electronics

By Power Output

By Vehicle Type

By Application

Less than 6kW, 6-9 Kw, 9-15 Kw

e-ATV, e-bike, escooter, emotorcycle, neighborhood electric vehicle, elawn mower

Personal Mobility, Shared Mobility, Recreation and Sport, Commercial

Major companies in the market include

Key Market Players

Polaris Inc

Jiangsu Xinri E-Vehicle Co. Ltd.

Deere & Company

Club CarLLC

BMW Group

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