Low-Speed Vehicle (LSV) is a four-wheeled motor vehicle that is not an all-terrain vehicle and has a top speed of approximately 40 km/h (25 mph). Some countries have similar regulations for low-speed vehicles but still, have a different speed limit of less than 40 km/h.
Low-speed vehicles are exempt from most safety standards applicable to other motorized vehicles. The low-speed vehicle weighs less than 3,000 pounds. And uses alternative fuels such as electricity or CNG gas for its operations. To know more information about a low-speed vehicle, you can visit https://westwardindustries.com/max-ev-4-lsv-wheel/.
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The increasing demand for clean vehicles, especially on urban roads for short daily trips, is the main factor that is expected to boost the Slow Vehicle (LSV) market during the forecast period.
In addition, low-speed vehicles can carry a reasonable number of passengers combined with a positive road infrastructure impact as these light vehicles are likely to increase the low-speed vehicle (LSV) market during the forecast period.
LSV is expected to remove pollutants from conventional vehicles and therefore adoption of these vehicles for use in short-distance cities and campus trips to hospitals, factories, universities, colleges, golf courses, apartment buildings, and the like is expected to increase significantly.
The global Low-Speed Vehicle (LSV) market can be segmented by type, powertrain, end-use, and region. Depending on the type, the market for low-speed vehicles (LSV) can be divided into golf carts, environmental electric vehicles, electric personal assist vehicles, and others.