Two-Wheelers To Grow Fastest in Low Speed Electric Vehicle Market

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China Dominating Low Speed Electric Vehicle Market
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The low-speed electric vehicle market will grow
at a good rate in the future. The growth of the
industry is majorly driven by the increasing
government support toward the acceptance of these
vehicles, together with environmental concerns
all over the world. Shift from SLA batteries to
Li-ion batteries is a major industrial trend.
Major industrial names are leaning toward the
usage of Li-ion batteries in low-speed electric
vehicles, dominating SLA batteries, which were
until recently used in these vehicles. Comparing
with to Lithium-ion batteries, the SLA batteries
have significantly low primary cost and still
pretty strong as the first choice of
consumers. But talking about the long run, the
Li-ion batteries are much improved than SLA
batteries. Li-ion batteries are much lighter and
smaller in comparison to SLA batteries, making
these the favored choice for installation in the
electric vehicles. Two-wheelers dominated the
LSEV market in the past and they had the fastest
growth. This has a lot to do with due to high use
of these vehicles in personal transportation
along with shared mobility services.
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48 V battery vehicles held the largest share both
in terms of volume and revenue in the past. This
has a lot to do with its popularity in
e-scooters. While, the fastest growth will be
experienced by the 72V category, because of
snowballing requirement for high-speed microcars
and e-scooters, as this is favored for these
vehicles. In the APAC region, the industry was
led by China in the past. The population, size,
tech- advancements, and support from the
government as subsidies and regulations have
helped China to boom in the region. The country
is also the biggest LSEV exporter in
APAC. While, the fastest growth in the future is
likely from the Indian market, because of LSEV
penetration in the nation. The key drivers for
the industry are subsidies and grants, and the
increasing environmental concerns. To receive
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Governments in the APAC region, aim to totally
electrify passenger vehicles in the public
transport system. In making an effort to do this,
they are providing support like giving incentives
for encouraging the acceptance of electric
vehicles. In recent times, stalwarts of the
industry have taken many strategic measures, like
product introduction, mergers, and facility
expansions to have their nose in front in the
industry. It is because of the increasing
urbanization, and various measures taken by
governments to increase the adoption of LSEV,
have played a major role in giving a boost to the
demand for the same. Inquire before purchase
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