Global Micro Electric Automotive Market Overview:
Micro electric automotive or micro electric vehicles are small electric vehicles that are widely used for public transportation and commercial or industrial applications. Increasing traffic on the roads and shortage of parking spaces due to growing urbanization across the globe. Over the time, rapidly growing adoption of car-sharing or hailing services for fast and convenient mobility or transportation will accelerate the adoption of micro electric automotive. High growth of micro automotive in the developed countries of Europe and North America region and China will create new opportunities for the market.
- Surging Demand for Micro Electric Automotive to Overcome Traffic Issues and Improve Mobility
- Increasing Initiative by the Government Towards the Adoption of Micro EVs for Public Transportation in the Urban and Metropolitan Areas
- Less Acceptance of EVs in the Rural Areas Across the Globe
- Growing Popularity of Lithium-Ion Battery Due to Ease of Charging
- Inconsistent Charging Infrastructures and Short Ranges May Hamper the Growth
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new mobility solutions, which is likely to encourage the growth of the global market throughout the forecast period.
Some of the key players profiled in the report are Polaris Inc. (United States), Groupe Renault (France), Microlino (Switzerland), Yamaha Motor Company (Japan), Triggo (Poland), General Motors (United States), Shandong Shifeng Group Co., Ltd. (China) and Honda Motor Company (Japan). Considering Market by Speed, the sub-segment i.e. 15.5 mph will boost the Micro Electric Automotive market. Considering Market by Battery Type, the sub-segment i.e. Lead-Acid will boost the Micro Electric Automotive market.
In 2020, Triggo announced the launch of its first electric urban mobility vehicle combining advanced safety features and maneuverability and parking benefits of a scooter to support zero-emission vehicles and growing shared transport services. The new two-seater vehicle has unique variable chassis geometry that enables drivers to choose between two modes, cruising mode or maneuver mode. IT uses Drive-by-Wire digital control replaceable battery alleviating charging stops, and features Bluetooth connectivity and air conditioning.
What Can be Explored with the Micro Electric Automotive Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Micro Electric Automotive Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Micro Electric Automotive
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Micro Electric Automotive market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Micro Electric Automotive market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Micro Electric Automotive Manufacturers, Raw Material Manufacturers and Suppliers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Micro Electric Automotive Market?
The Micro Electric Automotive market is expected to see a CAGR of % during projected year 2021 to 2027.
2. Who are the top performing companies in Micro Electric Automotive Market?
Top performing companies in the Global Micro Electric Automotive market are Polaris Inc. (United States), Groupe Renault (France), Microlino (Switzerland), Yamaha Motor Company (Japan), Triggo (Poland), General Motors (United States), Shandong Shifeng Group Co., Ltd. (China) and Honda Motor Company (Japan), to name a few.
3. What trending factors would impact Micro Electric Automotive Market growth most?
"Development and Launch of Innovative Micro Electric Automotive by the Manufacturers" is seen as one of major influencing trends for Micro Electric Automotive Market during projected period 2021-2027.