Press "Enter" to skip to content

Micro Electric Vehicle Market Size to Hit USD 22.11 Billion by 2029 | Exhibit a CAGR of 12.7% – GlobeNewswire

| Source: Fortune Business Insights Fortune Business Insights
Pune, India, April 28, 2022 (GLOBE NEWSWIRE) — Micro Electric Vehicles market size is projected to reach USD 22.11 Billion in 2029, at a CAGR of 12.7%. The global Micro Electric Vehicles market size was USD 8.32 billion in 2021. Asia Pacific to Dominate the Global Market Share during 2022-2029. Fortune Business Insights has presented this information in its report titled, Micro Electric Vehicle Market, 2022-2029.
Increasing Environmental Pollution likely to Promote Market Growth
The government’s strict emission regulations are pushing automakers to create new and advanced electric vehicles. The rapid growth of electric vehicles emphasizes the importance of new rules and regulations to ensure a smooth transition. During the forecast period, this is expected to favor the global micro electric vehicle market growth. The costs of implementing electric vehicles are high due to the high costs of technology and infrastructure.

Request a Sample Copy of the Research Report:

COVID-19 Impact-
Multiple supply chains have been disrupted including the Micro Electric Vehicle industry as a result of the spread of the new COVID-19 pandemic. Because of the economic uncertainty, car companies must proceed with caution when reopening. Interference may have a significant impact on second tiers, particularly the tertiary network, of automobile manufacturers with global distribution networks.

Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit:

Report Coverage-
The report on the micro electric vehicle market provides a detailed analysis of the market, focusing on key aspects such as leading companies, product types, and leading product applications. Apart from that, the report provides insights into market trends and highlights key industry developments. In addition to the factors mentioned above, the report includes a number of other factors that have contributed to the market’s growth in recent years.

Quick Buy –  Micro Electric Vehicles Market Research Report:

Regional Insights-
During the forecast period, Asia Pacific is expected to dominate the global micro electric vehicle market share, which is expected to be worth USD 4.5 billion in 2021. This is due to the fact that micro EVs are less expensive in countries such as China.

Europe is expected to grow significantly due to the region’s growing popularity and adoption of micro EVs. North America is expected to grow significantly as a result of increased sports, leisure, and fun activities in the region.
The Rest of the World will most likely be an emerging market for micro EVs. However, a lack of appropriate infrastructure and government policies significantly impedes the market growth.
Competitive Landscape:
Shandong Baoya to Lead the Chinese Market
Shandong Baoya New Energy Automobile Co., Ltd. is a leading Chinese electric vehicle manufacturer in the competitive landscape. The company’s primary focus is on producing, researching, developing, and selling new energy vehicles, including micro electric cars, electric minivans, electric bicycles, and electric motorcycles.
Industry Developments:
June 2021 – Club Car has announced the launch of the Club Car Current, an electric vehicle in partnership with AYRO, Inc. Current is a compact, all-electric light-duty truck with automotive features.

Have Any Query? Ask Our Experts:

List of Key Market Players:
Table of Content:

Get your Customized Research Report:

About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]