Low-Speed Vehicle (LSV) Market: Comprehensive Analysis

The Low-Speed Vehicle (LSV) market is experiencing rapid expansion, driven by increased urbanization, the push for eco-friendly transportation, and demand in sectors like tourism, real estate, and last-mile delivery. LSVs, which include electric golf carts, neighborhood electric vehicles (NEVs), and utility vehicles, operate at speeds of up to 25 mph (40 km/h) and are widely adopted for short-distance travel. Governments' support for sustainable mobility and tightening emission regulations further fuel the market's growth. Key trends include the shift to electric drivetrains, integration of smart technologies (like GPS and telematics), and demand for lightweight materials to improve efficiency and range.