EV Market Wired for $33 Billion Value by 2026
According to the latest research, the market for small manned electric vehicles (EVs), including a wide range of vehicles from e-bikes to car-like micro electric vehicles, is wired to grow rapidly and on pace to reach a valuation of US$33 billion by 2026.
The report states that e-scooters will be the dominant sector across the small electric vehicle market, followed by three-wheeler micro electric vehicles. The market for four-wheeler car-like vehicles and e-bikes is also expected to observe robust sales over the forecast period.
The report, issued by ResearchMoz, further notes that the market for micro electrical vehicles has better growth prospects and chances of gaining easy penetration because of their ease of passing regulatory confinements, as they do not need to go through crash tests and other requirements typical of cars. Micro electrical vehicles can also be as cheap as one tenth of the price of a typical car.
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