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Low Speed Electric Vehicle (LSEV) Market to Witness Steady Expansion during 2025 Low Speed Electric Vehicle (LSEV) Market to Witness Steady Expansion during 2025 BriefingWire.com, 4/20/2021 - Low-Speed Electric Vehicle (LSEV) is powered by an electric motor which gains its power through a collector system. The power is normally obtained from the electricity from off-vehicle sources or self-started with solar panels, battery or a power generator. Demand Scenario The global low-speed electric vehicle market was USD 2.87 billion in 2018 and is estimated to reach USD 6.46 billion in 2025 at a CAGR of 12.27% during the forecast period Growth by Region Asia-Pacific region leads the market with more than 60% of the market share owing to the early introduction of LSEVs in countries such as China and Japan paired with support from the government in the region. North America and Europe, on the other hand, are als ....
Share this article Share this article ResearchAndMarkets.com s offering. The output of electric bicycle in China in 2019 hit 27.08 million units, up 6.1% yr-on-yr. The figure amounted to 25.48 million units from Jan 2020 to Oct. 2020, up 33.36% yr-on-yr. The figure is expected to be 30.58 million units by 2020. The market will further expand with the popularization of shared electric bikes. Electric bicycle As for industry competition, the electric bicycle industry faces a new round of reshuffling since the release of the new national standard of electric bicycles in 2019. On the one hand, it is difficult to adapt to a new national standard for over-standard manufacturers core indices such as technology, quality, and safety performance. Suppressed by policy, these enterprises will be squeezed by market share and even be obsoleted. On the other hand, benefiting from the new policy, industry leading brands represented by Yadea obtain new market growth space due ....