The “Global Electric Utility Vehicle Market by Vehicle Type, Application, Battery Type (Lead Acid, Lithium-Ion), Drive Type (2WD, 4WD, AWD), Propulsion (Pure Electric, Hybrid Electric), Seating Capacity (1-Seater, 2-Seater, >2-Seater) Region – Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The electric utility vehicle market is projected to grow from USD 18.9 billion in 2022 to USD 23.9 billion by 2027, registering a CAGR of 4.8%. Electric all-terrain vehicles (ATVs), utility task vehicles (UTVs), utility carts, shuttle carts, and industrial utility vehicles were mapped as part of this research. The growth of e-commerce and logistics industries has increased the demand for electric industrial utility vehicles (used for in-house operations) over the years. With the rapid setup of charging stations worldwide, demand for low-speed vehicles such as electric utility and shuttle carts has also increased.