REPORT OUTLOOK
Market Size | CAGR | Dominating Region |
---|---|---|
USD 25.81 Billion by 2029 | 12.70 % CAGR | Asia Pacific |
by battery type | by application | by region |
---|---|---|
|
|
|
SCOPE OF THE REPORT
Micro EVs Market Overview
The global micro EVs market is expected to grow at 12.70 % CAGR from 2020 to 2029. It is expected to reach above USD 25.81 Billion by 2029 from USD 8.80 Billion in 2020.
Micro EVs, or micro electric vehicles, refer to small, low-speed electric vehicles designed for short-range transportation in urban and suburban areas. These vehicles typically have a maximum speed of around 45 km/h and a range of 30-50 km per charge. Micro EVs are often used for short commutes, deliveries, and other local transport needs. They are typically smaller and more affordable than full-sized electric vehicles, making them an attractive option for consumers in many regions. Micro EVs can take many different forms, including small cars, three-wheelers, electric bicycles, and other types of vehicles.
Environmental concerns are a major driver of the micro-EV market. The need to reduce greenhouse gas emissions and air pollution is a growing global issue, and the transportation sector is a major contributor to these problems. Micro EVs produce little to no emissions, making them an environmentally friendly alternative to traditional gas-powered vehicles. Unlike gasoline-powered vehicles that emit pollutants and greenhouse gases into the atmosphere, micro EVs use electric motors and rechargeable batteries to power their engines, resulting in zero tailpipe emissions. The use of micro EVs can help to reduce the amount of pollution in urban areas, where air quality can be particularly poor due to traffic congestion and other factors. This can have a significant impact on public health, as air pollution has been linked to respiratory problems, heart disease, and other health issues.
Limited infrastructure is one of the restraints that could potentially slow down the growth of the micro-EV market. While the infrastructure for electric vehicle charging is expanding rapidly, there are still many areas where charging stations are limited or nonexistent. This can be a significant barrier to the adoption of micro EVs, as consumers may be reluctant to purchase a vehicle that they cannot easily charge. The lack of charging infrastructure is particularly problematic for those who live in apartments or other types of shared housing, as they may not have access to a dedicated charging station. In addition, there may be limited options for public charging in certain areas, which can make it difficult for micro-EV owners to find a charging station when they need one.
Urban mobility is one of the key opportunities presented by the micro-EV market. Micro EVs are well-suited for short-range transportation in urban areas, where traffic congestion and air pollution are major issues. In many cities, traditional modes of transportation, such as cars and buses, are becoming increasingly impractical due to congestion and limited parking availability. In addition, there is a growing demand for sustainable and efficient modes of transportation, particularly among younger generations. Micro EVs can help to address these challenges by providing a compact, efficient, and environmentally-friendly mode of transportation for urban dwellers. They are small enough to navigate through crowded city streets and can easily fit into tight parking spaces. They are also typically powered by electric motors,which means they produce little to no emissions, making them an ideal choice for environmentally-conscious consumers.
The COVID-19 pandemic had a significant negative impact on the micro-EV market. Sales of micro EVs to individual consumers had declined due to reduced demand, while supply chain disruptions gad made it difficult for manufacturers to source components and materials. The economic impact of the pandemic had also led to a reduction in investment, making it more difficult for manufacturers to raise capital and continue developing new products. Manufacturing and labor challenges, such as reduced workforce capacity and increased health and safety regulations, had resulted in production delays and increased costs. Additionally, uncertainty and market volatility had made it difficult for manufacturers to plan and make strategic decisions. While the market had shown resilience, it is likely to take some time for the micro-EV market to fully recover from the negative impacts of the pandemic.
ATTRIBUTE | DETAILS |
Study period | 2020-2029 |
Base year | 2021 |
Estimated year | 2022 |
Forecasted year | 2022-2029 |
Historical period | 2018-2020 |
Unit | Value (USD Billion), (Thousand Units) |
Segmentation | By Battery Type, Application and Region. |
By Type |
|
By Applications |
|
By Region
 |
|
Micro EVs Market Segment Analysis
The lithium-ion battery segment is expected to dominate the micro-EV market due to its high energy density, long cycle life, fast charging capabilities, and improving technology. Lithium-ion batteries are a popular choice for micro EVs due to their compact size and lightweight, which maximizes range and performance. With new innovations in solid-state batteries and silicon anodes, it is expected that lithium-ion batteries will continue to be the preferred choice for micro-EV manufacturers in the coming years.
The commercial use segment is expected to hold the largest market share in the micro-EV market due to the growing demand for small, agile vehicles that can navigate congested city streets. Micro EVs are often more cost-effective than traditional vehicles for commercial use, as they are less expensive to purchase and operate. They also offer an eco-friendlier alternative to traditional vehicles, which is increasingly important for businesses looking to reduce their carbon footprint. Additionally, many governments offer incentives and subsidies for businesses that adopt electric vehicles, which can help to offset the higher upfront costs of purchasing micro EVs.
Micro EVs Market Players
The micro EVs market key players include Alta Zero Emissions Solutions Inc., AYRO Inc., Bayerische Motoren Werke AG, Bintelli Electric Vehicles, BYD Electronic Co. Ltd., Electrameccanica Vehicles Corp., Elio Motors Inc., G H Varley Pty Ltd., Hyundai Motor Co., Club Car
For corporate expansion, these key leaders are implementing strategic formulations such as new product development and commercialization, commercial expansion, and distribution agreements. Moreover, these participants are substantially spending on product development, which is fueling revenue generation.
June 2021 – Club Car announced the launch of an all-new electric vehicle, the Club Car Current, in partnership with AYRO, Inc. Current is a compact, fully electric light-duty truck equipped with automotive features and comforts.
August 2021 – Club Car announced the strategic partnership with ezLocator, the industry leader in daily pin placement management. The integration of Club Car Connect with ezLocator will offer golf cars and utility vehicles the ability to manage pin locations with speed and precision.
Who Should Buy? Or Key stakeholders
- Investors
- Raw Materials Manufacturer
- Automobile Companies
- Battery Manufacturer
- Supplier and Distributor
- EV Battery Recycling Companies
- Research Organizations
- Regulatory Authorities
- Institutional & retail players
- Others
Micro EVs Market Regional Analysis
The Micro EVs market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
- North America: includes the US, Canada, Mexico
- Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN, and Rest of APAC
- Europe: includes the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe
- South America: includes Brazil, Argentina, and Rest of South America
- Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and the Rest of MEA
The Asia Pacific region is expected to dominate the global micro electric vehicle market share due to several factors. Firstly, the region is experiencing rapid urbanization, which is driving demand for small, agile vehicles that can navigate congested city streets. Additionally, many governments in the region are promoting the adoption of electric vehicles through subsidies, tax incentives, and other measures. With a high population density in many parts of the region, there is a greater need for small and efficient vehicles that can transport people and goods in a cost-effective manner. Moreover, Asia Pacific is home to many of the world’s leading manufacturers of micro EVs, giving it a competitive advantage in production and cost.
Europe is also a significant market for micro electric vehicles, with a growing demand for small, agile vehicles that can navigate congested urban areas. The region has a strong focus on sustainability and reducing carbon emissions, with many governments promoting the adoption of electric vehicles through incentives and regulations. Additionally, the region has a well-established infrastructure for electric vehicles, including charging stations and other support systems.
Key market segments: micro evs market
Micro evs market by battery type, 2020-2029, (usd billion), (thousand units)
- Lead acid battery
- Lithium-ion battery
Micro evs market by application, 2020-2029, (usd billion), (thousand units)
- Commercial use
- Personal use
- Public utilities
Micro evs market by region, 2020-2029, (usd billion), (thousand units)
- North america
- Asia pacific
- Europe
- South america
- Middle east and africa
Important countries in all regions are covered.
Exactitude Consultancy Services Key Objectives:
- Increasing sales and market share
- Developing new technology
- Improving profitability
- Entering new markets
- Enhancing brand reputation
Key Question Answered
- What is the expected growth rate of the micro EVs market over the next 7 years?
- Who are the major players in the micro EVs market and what is their market share?
- What are the end-user industries driving demand for market and what is their outlook?
- What are the opportunities for growth in emerging markets such as Asia-pacific, middle east, and Africa?
- How is the economic environment affecting the micro EVs market, including factors such as interest rates, inflation, and exchange rates?
- What is the expected impact of government policies and regulations on the micro EVs market?
- What is the current and forecasted size and growth rate of the global micro EVs market?
- What are the key drivers of growth in the micro EVs market?
- What are the distribution channels and supply chain dynamics in the micro EVs market?
- What are the technological advancements and innovations in the micro EVs market and their impact on product development and growth?
- What are the regulatory considerations and their impact on the market?
- What are the challenges faced by players in the micro EVs market and how are they addressing these challenges?
- What are the opportunities for growth and expansion in the micro EVs market?
- What are the product offerings and specifications of leading players in the market?
- What is the pricing trend in the market and what is the impact of raw material prices on the price trend?
Table of Content
- INTRODUCTION
- MARKET DEFINITION
- MARKET SEGMENTATION
- RESEARCH TIMELINES
- ASSUMPTIONS AND LIMITATIONS
- RESEARCH METHODOLOGY
- DATA MINING
- SECONDARY RESEARCH
- PRIMARY RESEARCH
- SUBJECT-MATTER EXPERTS’ ADVICE
- QUALITY CHECKS
- FINAL REVIEW
- DATA TRIANGULATION
- BOTTOM-UP APPROACH
- TOP-DOWN APPROACH
- RESEARCH FLOW
- DATA SOURCES
- DATA MINING
- EXECUTIVE SUMMARY
- MARKET OVERVIEW
- GLOBAL MICRO EVS MARKET OUTLOOK
- MARKET DRIVERS
- MARKET RESTRAINTS
- MARKET OPPORTUNITIES
- IMPACT OF COVID-19 ON MICRO EVS MARKET
- PORTER’S FIVE FORCES MODEL
- THREAT FROM NEW ENTRANTS
- THREAT FROM SUBSTITUTES
- BARGAINING POWER OF SUPPLIERS
- BARGAINING POWER OF CUSTOMERS
- DEGREE OF COMPETITION
- INDUSTRY VALUE CHAIN ANALYSIS
- GLOBAL MICRO EVS MARKET OUTLOOK
- GLOBAL MICRO EVS MARKET BY BATTERY TYPE, 2020-2029, (USD BILLION), (THOUSAND UNITS)
- LEAD ACID BATTERY
- LITHIUM-ION BATTERY
- GLOBAL MICRO EVS MARKET BY APPLICATION, 2020-2029, (USD BILLION), (THOUSAND UNITS)
- COMMERCIAL USE
- PERSONAL USE
- PUBLIC UTILITIES
- GLOBAL MICRO EVS MARKET BY REGION, 2020-2029, (USD BILLION), (THOUSAND UNITS)
- NORTH AMERICA
- US
- CANADA
- MEXICO
- SOUTH AMERICA
- BRAZIL
- ARGENTINA
- COLOMBIA
- REST OF SOUTH AMERICA
- EUROPE
- GERMANY
- UK
- FRANCE
- ITALY
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA PACIFIC
- INDIA
- CHINA
- JAPAN
- SOUTH KOREA
- AUSTRALIA
- SOUTH-EAST ASIA
- REST OF ASIA PACIFIC
- MIDDLE EAST AND AFRICA
- UAE
- SAUDI ARABIA
- SOUTH AFRICA
- REST OF MIDDLE EAST AND AFRICA
- NORTH AMERICA
- COMPANY PROFILES* (BUSINESS OVERVIEW, COMPANY SNAPSHOT, PRODUCTS OFFERED, RECENT DEVELOPMENTS)
- ALTA ZERO EMISSIONS SOLUTIONS INC.
- AYRO INC.
- BAYERISCHE MOTOREN WERKE AG
- BINTELLI ELECTRIC VEHICLES
- BYD ELECTRONIC CO. LTD.
- ELECTRAMECCANICA VEHICLES CORP.
- ELIO MOTORS INC.
- G H VARLEY PTY LTD.
- HYUNDAI MOTOR CO.
- CLUB CAR *THE COMPANY LIST IS INDICATIVE
LIST OF TABLES
TABLE 1Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 2Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 3Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 4Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 5Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY REGION (USD BILLION), 2020-2029
TABLE 6Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY REGION (THOUSAND UNITS), 2020-2029
TABLE 7Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 8Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 9Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 10Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 11Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA MICRO EVS MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 12Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA MICRO EVS MARKET BY COUNTRY (THOUSAND UNITS), 2020-2029
TABLE 13Â Â Â Â Â Â Â Â Â Â Â Â Â US MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 14Â Â Â Â Â Â Â Â Â Â Â Â Â US MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 15Â Â Â Â Â Â Â Â Â Â Â Â Â US MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 16Â Â Â Â Â Â Â Â Â Â Â Â Â US MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 17Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 18Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 19Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 20Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 21Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 22Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 23Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 24Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 25Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 26Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 27Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA MICRO EVS MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 28Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA MICRO EVS MARKET BY COUNTRY (THOUSAND UNITS), 2020-2029
TABLE 29Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 30Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 31Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 32Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 33Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 34Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 35Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 36Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 37Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 38Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 39Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 40Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 41Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 42Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 43Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 44Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 45Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 46Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 47Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 48Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 49Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 50Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 51Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC MICRO EVS MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 52Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC MICRO EVS MARKET BY COUNTRY (THOUSAND UNITS), 2020-2029
TABLE 53Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 54Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 55Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 56Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 57Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 58Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 59Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 60Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 61Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 62Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 63Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 64Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 65Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 66Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 67Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 68Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 69Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 70Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 71Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 72Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 73Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH EAST ASIA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 74Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH EAST ASIA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 75Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH EAST ASIA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 76Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH EAST ASIA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 77Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 78Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 79Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 80Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 81Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 82Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 83Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 84Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 85Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE MICRO EVS MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 86Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE MICRO EVS MARKET BY COUNTRY (THOUSAND UNITS), 2020-2029
TABLE 87Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 88Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 89Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 90Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 91Â Â Â Â Â Â Â Â Â Â Â Â Â UK MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 92Â Â Â Â Â Â Â Â Â Â Â Â Â UK MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 93Â Â Â Â Â Â Â Â Â Â Â Â Â UK MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 94Â Â Â Â Â Â Â Â Â Â Â Â Â UK MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 95Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 96Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 97Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 98Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 99Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 100Â Â Â Â Â Â Â Â Â Â Â ITALY MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 101Â Â Â Â Â Â Â Â Â Â Â ITALY MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 102Â Â Â Â Â Â Â Â Â Â Â ITALY MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 103Â Â Â Â Â Â Â Â Â Â Â SPAIN MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 104Â Â Â Â Â Â Â Â Â Â Â SPAIN MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 105Â Â Â Â Â Â Â Â Â Â Â SPAIN MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 106Â Â Â Â Â Â Â Â Â Â Â SPAIN MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 107Â Â Â Â Â Â Â Â Â Â Â RUSSIA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 108Â Â Â Â Â Â Â Â Â Â Â RUSSIA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 109Â Â Â Â Â Â Â Â Â Â Â RUSSIA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 110Â Â Â Â Â Â Â Â Â Â Â RUSSIA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 111Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 112Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 113Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 114Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 115Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 116Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 117Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 118Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 119Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA MICRO EVS MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 120Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA MICRO EVS MARKET BY COUNTRY (THOUSAND UNITS), 2020-2029
TABLE 121Â Â Â Â Â Â Â Â Â Â Â UAE MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 122Â Â Â Â Â Â Â Â Â Â Â UAE MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 123Â Â Â Â Â Â Â Â Â Â Â UAE MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 124Â Â Â Â Â Â Â Â Â Â Â UAE MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 125Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 126Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 127Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 128Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 129Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 130Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 131Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 132Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
TABLE 133Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA MICRO EVS MARKET BY BATTERY TYPE (USD BILLION), 2020-2029
TABLE 134Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA MICRO EVS MARKET BY BATTERY TYPE (THOUSAND UNITS), 2020-2029
TABLE 135Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA MICRO EVS MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 136Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA MICRO EVS MARKET BY APPLICATION (THOUSAND UNITS), 2020-2029
LIST OF FIGURES
FIGURE 1Â Â Â Â Â Â Â Â Â Â Â Â MARKET DYNAMICS
FIGURE 2Â Â Â Â Â Â Â Â Â Â Â Â MARKET SEGMENTATION
FIGURE 3Â Â Â Â Â Â Â Â Â Â Â Â REPORT TIMELINES: YEARS CONSIDERED
FIGURE 4Â Â Â Â Â Â Â Â Â Â Â Â DATA TRIANGULATION
FIGURE 5Â Â Â Â Â Â Â Â Â Â Â Â BOTTOM-UP APPROACH
FIGURE 6Â Â Â Â Â Â Â Â Â Â Â Â TOP-DOWN APPROACH
FIGURE 7Â Â Â Â Â Â Â Â Â Â Â Â RESEARCH FLOW
FIGURE 8Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY BATTERY TYPE, USD BILLION, 2020-2029
FIGURE 9Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY APPLICATION, USD BILLION, 2020-2029
FIGURE 10Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY REGION, USD BILLION, 2020-2029
FIGURE 11          PORTER’S FIVE FORCES MODEL
FIGURE 12Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY BATTERY TYPE, USD BILLION, 2021
FIGURE 13Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY APPLICATION, USD BILLION, 2021
FIGURE 14Â Â Â Â Â Â Â Â Â Â GLOBAL MICRO EVS MARKET BY REGION, USD BILLION, 2021
FIGURE 15Â Â Â Â Â Â Â Â Â Â MARKET SHARE ANALYSIS
FIGURE 16Â Â Â Â Â Â Â Â Â Â ALTA ZERO EMISSIONS SOLUTIONS INC.: COMPANY SNAPSHOT
FIGURE 17Â Â Â Â Â Â Â Â Â Â AYRO INC.: COMPANY SNAPSHOT
FIGURE 18Â Â Â Â Â Â Â Â Â Â BAYERISCHE MOTOREN WERKE AG: COMPANY SNAPSHOT
FIGURE 19Â Â Â Â Â Â Â Â Â Â BINTELLI ELECTRIC VEHICLES: COMPANY SNAPSHOT
FIGURE 20Â Â Â Â Â Â Â Â Â Â BYD ELECTRONIC CO. LTD.: COMPANY SNAPSHOT
FIGURE 21Â Â Â Â Â Â Â Â Â Â ELECTRAMECCANICA VEHICLES CORP.: COMPANY SNAPSHOT
FIGURE 22Â Â Â Â Â Â Â Â Â Â ELIO MOTORS INC.: COMPANY SNAPSHOT
FIGURE 23Â Â Â Â Â Â Â Â Â Â G H VARLEY PTY LTD.: COMPANY SNAPSHOT
FIGURE 24Â Â Â Â Â Â Â Â Â Â HYUNDAI MOTOR CO.: COMPANY SNAPSHOT
FIGURE 25Â Â Â Â Â Â Â Â Â Â CLUB CAR: COMPANY SNAPSHOT
FAQ
The global micro EVs market is expected to grow at 12.70 % CAGR from 2020 to 2029. It is expected to reach above USD 25.81 Billion by 2029 from USD 8.80 Billion in 2020.
Asia Pacific held more than 47% of the micro EVs market revenue share in 2020 and will witness tremendous expansion during the forecast period.
With the price of fossil fuels on the rise, consumers are increasingly turning to electric vehicles as a way to save money on fuel costs. Micro EVs are particularly attractive in this regard, as they offer a low-cost and efficient mode of transportation.
The automobile and transportation sector are where the application of market has seen more.
The markets largest share is in the Asia Pacific region.
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