Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 8.46 Billion | USD 12.58 Billion | 4.5% | 2024 |
FrequentlyAsked Questions
Small electric vehicles are a fitting solution to future urban traffic problems
The global small electric vehicle market is expected to grow due to increasing environmental concerns, rising fuel costs, government incentives and regulations promoting electric mobility, and advancements in battery technology improving range and affordability.
According to a study, the global small electric vehicle market size was worth around USD 8.46 Billion in 2024 and is expected to reach USD 12.58 Billion by 2034.
The global small electric vehicle market is expected to grow at a CAGR of 4.5% during the forecast period.
Asia-Pacific is expected to dominate the small electric vehicle market over the forecast period.
Leading players in the global small electric vehicle market include ChargePoint Inc., Schneider Electric, Tesla Inc., BP Chargemaster, Shell International BV, Webasto Group, Siemens AG, EVBox, Eaton, Ingersoll Rand, Textron, Polaris, Baoya, Yogomo, Renault, Nissan Motor, Volkswagen AG.,, among others.
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