The global Micro EVs market size was US$ 9182 million in 2024 and is forecast to a readjusted size of US$ 13730 million by 2031 with a CAGR of 6.0% during the forecast period 2025-2031.
A micro electric vehicle (EV) is a four-wheeled electric powered micro vehicle with an attainable speed of more than 20 miles per hour but not more than 25 miles per hour (in China, not more than 70 kilometers per hour) on a paved surface, and it usually has a gross vehicle weight rating (GVWR) of less than 3,000 pounds.
Neighborhood electric vehicles (NEVs), golf carts and utility terrain vehicles all fall into this category.
China is the largest region of Micro EVs, with a market share about 70%. Textron, Yamaha and Polaris are the major manufacturers of industry.
The global Micro EVs market is strategically segmented by company, region (country), by Type, and by Application. This report empowers stakeholders to capitalize on emerging opportunities, optimize product strategies, and outperform competitors through data-driven insights on sales, revenue, and forecasts across regions, by Type, and by Application for 2020-2031.
Market Segmentation
By Company:
Yogomo
Shifeng
Textron
Dojo
Byvin
Polaris
Lichi
Baoya
Tangjun
Yamaha
Fulu
Xinyuzhou
GreenWheel EV
Incalu
Kandi
Renault
APACHE
Garia
Zheren
Ingersoll Rand
CitEcar Electric Vehicles
Eagle
Taiqi
By Type: (Dominant Segment vs High-Margin Innovation)
Lead-acid Battery EVs
Lithium-ion Battery EVs
By Application: (Core Demand Driver vs Emerging Opportunity)
Personal Use
Commercial Use (Sightseeing, Golf etc.)
Public Utilities
By Region
Macro-Regional Analysis: Market Size & Growth Forecasts
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Micro-Local Market Deep Dive: Strategic Insights
- Competitive Landscape: Player dominance vs. disruptors (e.g., Yogomo in Europe)
- Emerging Product Trends: Lead-acid Battery EVs adoption vs. Lithium-ion Battery EVs premiumization
- Demand-Side Dynamics: Personal Use growth in China vs. Commercial Use (Sightseeing, Golf etc.) potential in North America
- Localized Consumer Needs: Regulatory hurdles in EU vs. price sensitivity in India
Focus Markets:
North America
Europe
China
Japan
Chapter Outline
Chapter 1: Report scope, executive summary, and market evolution scenarios (short/mid/long term).
Chapter 2: Quantitative analysis of Micro EVs market size and growth potential at global, regional, and country levels.
Chapter 3: Competitive benchmarking of manufacturers (revenue, market share, M&A, R&D focus).
Chapter 4: Type-based segmentation analysis – Uncovering blue ocean markets (e.g., Lithium-ion Battery EVs in China).
Chapter 5: Application-based segmentation analysis – High-growth downstream opportunities (e.g., Commercial Use (Sightseeing, Golf etc.) in India).
Chapter 6: Regional sales and revenue breakdown by company, type, application and customer.
Chapter 7: Key manufacturer profiles – Financials, product portfolios, and strategic developments.
Chapter 8: Market dynamics – Drivers, restraints, regulatory impacts, and risk mitigation strategies.
Chapter 9: Actionable conclusions and strategic recommendations.
Why This Report?
This is not just another market study. By fusing global trend analysis with hyper-local operational intelligence, we deliver:
- Risk-Controlled Market Entry: Navigate regulatory complexities in focus markets (e.g., China’s policies).
- Product Portfolio Optimization: Align offerings with regional preferences (e.g., Lead-acid Battery EVs dominance in Europe vs. Lithium-ion Battery EVs demand in MEA).
- Competitor Counterstrategies: Decode player tactics in fragmented vs. consolidated markets.
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Market Overview
1.1 Micro EVs Product Scope
1.2 Micro EVs by Type
1.2.1 Global Micro EVs Sales by Type (2020 & 2024 & 2031)
1.2.2 Lead-acid Battery EVs
1.2.3 Lithium-ion Battery EVs
1.3 Micro EVs by Application
1.3.1 Global Micro EVs Sales Comparison by Application (2020 & 2024 & 2031)
1.3.2 Personal Use
1.3.3 Commercial Use (Sightseeing, Golf etc.)
1.3.4 Public Utilities
1.4 Global Micro EVs Market Estimates and Forecasts (2020-2031)
1.4.1 Global Micro EVs Market Size in Value Growth Rate (2020-2031)
1.4.2 Global Micro EVs Market Size in Volume Growth Rate (2020-2031)
1.4.3 Global Micro EVs Price Trends (2020-2031)
1.5 Assumptions and Limitations
2 Market Size and Prospective by Region
2.1 Global Micro EVs Market Size by Region: 2020 VS 2024 VS 2031
2.2 Global Micro EVs Retrospective Market Scenario by Region (2020-2025)
2.2.1 Global Micro EVs Sales Market Share by Region (2020-2025)
2.2.2 Global Micro EVs Revenue Market Share by Region (2020-2025)
2.3 Global Micro EVs Market Estimates and Forecasts by Region (2026-2031)
2.3.1 Global Micro EVs Sales Estimates and Forecasts by Region (2026-2031)
2.3.2 Global Micro EVs Revenue Forecast by Region (2026-2031)
2.4 Major Region and Emerging Market Analysis
2.4.1 North America Micro EVs Market Size and Prospective (2020-2031)
2.4.2 Europe Micro EVs Market Size and Prospective (2020-2031)
2.4.3 China Micro EVs Market Size and Prospective (2020-2031)
2.4.4 Japan Micro EVs Market Size and Prospective (2020-2031)
3 Global Market Size by Type
3.1 Global Micro EVs Historic Market Review by Type (2020-2025)
3.1.1 Global Micro EVs Sales by Type (2020-2025)
3.1.2 Global Micro EVs Revenue by Type (2020-2025)
3.1.3 Global Micro EVs Price by Type (2020-2025)
3.2 Global Micro EVs Market Estimates and Forecasts by Type (2026-2031)
3.2.1 Global Micro EVs Sales Forecast by Type (2026-2031)
3.2.2 Global Micro EVs Revenue Forecast by Type (2026-2031)
3.2.3 Global Micro EVs Price Forecast by Type (2026-2031)
3.3 Different Types Micro EVs Representative Players
4 Global Market Size by Application
4.1 Global Micro EVs Historic Market Review by Application (2020-2025)
4.1.1 Global Micro EVs Sales by Application (2020-2025)
4.1.2 Global Micro EVs Revenue by Application (2020-2025)
4.1.3 Global Micro EVs Price by Application (2020-2025)
4.2 Global Micro EVs Market Estimates and Forecasts by Application (2026-2031)
4.2.1 Global Micro EVs Sales Forecast by Application (2026-2031)
4.2.2 Global Micro EVs Revenue Forecast by Application (2026-2031)
4.2.3 Global Micro EVs Price Forecast by Application (2026-2031)
4.3 New Sources of Growth in Micro EVs Application
5 Competition Landscape by Players
5.1 Global Micro EVs Sales by Players (2020-2025)
5.2 Global Top Micro EVs Players by Revenue (2020-2025)
5.3 Global Micro EVs Market Share by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Micro EVs as of 2024)
5.4 Global Micro EVs Average Price by Company (2020-2025)
5.5 Global Key Manufacturers of Micro EVs, Manufacturing Sites & Headquarters
5.6 Global Key Manufacturers of Micro EVs, Product Type & Application
5.7 Global Key Manufacturers of Micro EVs, Date of Enter into This Industry
5.8 Manufacturers Mergers & Acquisitions, Expansion Plans
6 Region Analysis
6.1 North America Market: Players, Segments, Downstream and Major Customers
6.1.1 North America Micro EVs Sales by Company
6.1.1.1 North America Micro EVs Sales by Company (2020-2025)
6.1.1.2 North America Micro EVs Revenue by Company (2020-2025)
6.1.2 North America Micro EVs Sales Breakdown by Type (2020-2025)
6.1.3 North America Micro EVs Sales Breakdown by Application (2020-2025)
6.1.4 North America Micro EVs Major Customer
6.1.5 North America Market Trend and Opportunities
6.2 Europe Market: Players, Segments, Downstream and Major Customers
6.2.1 Europe Micro EVs Sales by Company
6.2.1.1 Europe Micro EVs Sales by Company (2020-2025)
6.2.1.2 Europe Micro EVs Revenue by Company (2020-2025)
6.2.2 Europe Micro EVs Sales Breakdown by Type (2020-2025)
6.2.3 Europe Micro EVs Sales Breakdown by Application (2020-2025)
6.2.4 Europe Micro EVs Major Customer
6.2.5 Europe Market Trend and Opportunities
6.3 China Market: Players, Segments, Downstream and Major Customers
6.3.1 China Micro EVs Sales by Company
6.3.1.1 China Micro EVs Sales by Company (2020-2025)
6.3.1.2 China Micro EVs Revenue by Company (2020-2025)
6.3.2 China Micro EVs Sales Breakdown by Type (2020-2025)
6.3.3 China Micro EVs Sales Breakdown by Application (2020-2025)
6.3.4 China Micro EVs Major Customer
6.3.5 China Market Trend and Opportunities
6.4 Japan Market: Players, Segments, Downstream and Major Customers
6.4.1 Japan Micro EVs Sales by Company
6.4.1.1 Japan Micro EVs Sales by Company (2020-2025)
6.4.1.2 Japan Micro EVs Revenue by Company (2020-2025)
6.4.2 Japan Micro EVs Sales Breakdown by Type (2020-2025)
6.4.3 Japan Micro EVs Sales Breakdown by Application (2020-2025)
6.4.4 Japan Micro EVs Major Customer
6.4.5 Japan Market Trend and Opportunities
7 Company Profiles and Key Figures
7.1 Yogomo
7.1.1 Yogomo Company Information
7.1.2 Yogomo Business Overview
7.1.3 Yogomo Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.1.4 Yogomo Micro EVs Products Offered
7.1.5 Yogomo Recent Development
7.2 Shifeng
7.2.1 Shifeng Company Information
7.2.2 Shifeng Business Overview
7.2.3 Shifeng Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.2.4 Shifeng Micro EVs Products Offered
7.2.5 Shifeng Recent Development
7.3 Textron
7.3.1 Textron Company Information
7.3.2 Textron Business Overview
7.3.3 Textron Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.3.4 Textron Micro EVs Products Offered
7.3.5 Textron Recent Development
7.4 Dojo
7.4.1 Dojo Company Information
7.4.2 Dojo Business Overview
7.4.3 Dojo Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.4.4 Dojo Micro EVs Products Offered
7.4.5 Dojo Recent Development
7.5 Byvin
7.5.1 Byvin Company Information
7.5.2 Byvin Business Overview
7.5.3 Byvin Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.5.4 Byvin Micro EVs Products Offered
7.5.5 Byvin Recent Development
7.6 Polaris
7.6.1 Polaris Company Information
7.6.2 Polaris Business Overview
7.6.3 Polaris Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.6.4 Polaris Micro EVs Products Offered
7.6.5 Polaris Recent Development
7.7 Lichi
7.7.1 Lichi Company Information
7.7.2 Lichi Business Overview
7.7.3 Lichi Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.7.4 Lichi Micro EVs Products Offered
7.7.5 Lichi Recent Development
7.8 Baoya
7.8.1 Baoya Company Information
7.8.2 Baoya Business Overview
7.8.3 Baoya Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.8.4 Baoya Micro EVs Products Offered
7.8.5 Baoya Recent Development
7.9 Tangjun
7.9.1 Tangjun Company Information
7.9.2 Tangjun Business Overview
7.9.3 Tangjun Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.9.4 Tangjun Micro EVs Products Offered
7.9.5 Tangjun Recent Development
7.10 Yamaha
7.10.1 Yamaha Company Information
7.10.2 Yamaha Business Overview
7.10.3 Yamaha Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.10.4 Yamaha Micro EVs Products Offered
7.10.5 Yamaha Recent Development
7.11 Fulu
7.11.1 Fulu Company Information
7.11.2 Fulu Business Overview
7.11.3 Fulu Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.11.4 Fulu Micro EVs Products Offered
7.11.5 Fulu Recent Development
7.12 Xinyuzhou
7.12.1 Xinyuzhou Company Information
7.12.2 Xinyuzhou Business Overview
7.12.3 Xinyuzhou Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.12.4 Xinyuzhou Micro EVs Products Offered
7.12.5 Xinyuzhou Recent Development
7.13 GreenWheel EV
7.13.1 GreenWheel EV Company Information
7.13.2 GreenWheel EV Business Overview
7.13.3 GreenWheel EV Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.13.4 GreenWheel EV Micro EVs Products Offered
7.13.5 GreenWheel EV Recent Development
7.14 Incalu
7.14.1 Incalu Company Information
7.14.2 Incalu Business Overview
7.14.3 Incalu Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.14.4 Incalu Micro EVs Products Offered
7.14.5 Incalu Recent Development
7.15 Kandi
7.15.1 Kandi Company Information
7.15.2 Kandi Business Overview
7.15.3 Kandi Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.15.4 Kandi Micro EVs Products Offered
7.15.5 Kandi Recent Development
7.16 Renault
7.16.1 Renault Company Information
7.16.2 Renault Business Overview
7.16.3 Renault Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.16.4 Renault Micro EVs Products Offered
7.16.5 Renault Recent Development
7.17 APACHE
7.17.1 APACHE Company Information
7.17.2 APACHE Business Overview
7.17.3 APACHE Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.17.4 APACHE Micro EVs Products Offered
7.17.5 APACHE Recent Development
7.18 Garia
7.18.1 Garia Company Information
7.18.2 Garia Business Overview
7.18.3 Garia Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.18.4 Garia Micro EVs Products Offered
7.18.5 Garia Recent Development
7.19 Zheren
7.19.1 Zheren Company Information
7.19.2 Zheren Business Overview
7.19.3 Zheren Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.19.4 Zheren Micro EVs Products Offered
7.19.5 Zheren Recent Development
7.20 Ingersoll Rand
7.20.1 Ingersoll Rand Company Information
7.20.2 Ingersoll Rand Business Overview
7.20.3 Ingersoll Rand Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.20.4 Ingersoll Rand Micro EVs Products Offered
7.20.5 Ingersoll Rand Recent Development
7.21 CitEcar Electric Vehicles
7.21.1 CitEcar Electric Vehicles Company Information
7.21.2 CitEcar Electric Vehicles Business Overview
7.21.3 CitEcar Electric Vehicles Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.21.4 CitEcar Electric Vehicles Micro EVs Products Offered
7.21.5 CitEcar Electric Vehicles Recent Development
7.22 Eagle
7.22.1 Eagle Company Information
7.22.2 Eagle Business Overview
7.22.3 Eagle Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.22.4 Eagle Micro EVs Products Offered
7.22.5 Eagle Recent Development
7.23 Taiqi
7.23.1 Taiqi Company Information
7.23.2 Taiqi Business Overview
7.23.3 Taiqi Micro EVs Sales, Revenue and Gross Margin (2020-2025)
7.23.4 Taiqi Micro EVs Products Offered
7.23.5 Taiqi Recent Development
8 Micro EVs Manufacturing Cost Analysis
8.1 Micro EVs Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Key Suppliers of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.3 Manufacturing Process Analysis of Micro EVs
8.4 Micro EVs Industrial Chain Analysis
9 Marketing Channel, Distributors and Customers
9.1 Marketing Channel
9.2 Micro EVs Distributors List
9.3 Micro EVs Customers
10 Micro EVs Market Dynamics
10.1 Micro EVs Industry Trends
10.2 Micro EVs Market Drivers
10.3 Micro EVs Market Challenges
10.4 Micro EVs Market Restraints
11 Research Findings and Conclusion
12 Appendix
12.1 Research Methodology
12.1.1 Methodology/Research Approach
12.1.1.1 Research Programs/Design
12.1.1.2 Market Size Estimation
12.1.1.3 Market Breakdown and Data Triangulation
12.1.2 Data Source
12.1.2.1 Secondary Sources
12.1.2.2 Primary Sources
12.2 Author Details
12.3 Disclaimer
Yogomo
Shifeng
Textron
Dojo
Byvin
Polaris
Lichi
Baoya
Tangjun
Yamaha
Fulu
Xinyuzhou
GreenWheel EV
Incalu
Kandi
Renault
APACHE
Garia
Zheren
Ingersoll Rand
CitEcar Electric Vehicles
Eagle
Taiqi
Ìý
Ìý
*If Applicable.
