From GlobeNewswire: 2024-05-21 15:00:00

The Global Light Electric Vehicles (LEVs) Market is expected to grow from USD 80.15 billion in 2023 to USD 196.03 billion by 2033, at a CAGR of 9.36%. LEVs offer emission-free solutions for urban areas, reducing traffic congestion and pollution. With low maintenance costs and flexibility in parking, LEVs are a sustainable and convenient alternative for transportation.

In the global light electric vehicles (LEVs) market, the less than 6 kW segment is expected to dominate during the forecast period. This is driven by the demand for small-seat LEVs for personal and shared mobility applications. The battery pack segment, with lithium-ion batteries, is expected to grow rapidly, offering better energy density and longer life.

North America is projected to lead the global light electric vehicles (LEVs) market, driven by the United States and Canada, with government support and growing demand for electric scooters and bikes in urban areas. Europe is expected to see the fastest CAGR growth, with countries like Germany, UK, and France leading the market with a focus on sustainable transportation solutions.

Major vendors in the global light electric vehicles (LEVs)market include Textron Inc., Yamaha Motor Co. Ltd., BMW AG, Honda, and others. Recent developments include BYD partnering with Castrol to boost global EV adoption. The market is segmented by power, component, application, and region, providing insights into segment performance and forecasting revenue from 2020 to 2033.



Read more at GlobeNewswire: Global Light Electric Vehicles (LEVs) Market Size To Exceed