Dublin, Dec. 23, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global Micro Electric Vehicle Market 2016-2020" report to their offering.

The global micro electric vehicle market to grow at a CAGR of 17.26% during the period 2016-2020.

The report covers the present scenario and the growth prospects of the global micro electric vehicle market for 2016-2020. To calculate the market size, the report considers the revenue generated from the on volume sales of micro electric vehicles in the global market. The report also includes a discussion of the key vendors operating in this market.

The sales graph of electric vehicles is experiencing upward trend worldwide as the electric vehicle technology is improving every day. The evolution of electric vehicles by automotive developers has led to innovations in battery technology that forms the fundamental part of most vehicles today. From the use of nickel-cadmium battery to current Li-ion lightweight battery, the electric vehicle technology has come a long way.

According to the report, the global automotive industry is on the path of growth and development with sales figure reaching new heights YoY. The EU recorded 9.3% growth in 2014, followed by 5.7% in North America, while China's automotive sales declined to a 7.3% compared with 10% in 2014. The electric cars industry is also experiencing rapid growth in the automotive market, owing to its inherent advantages. Though the electric vehicle market is still in its growth stage, it is rapidly shifting gears and offering stiff competition to oil and gas-powered vehicles.

Further, the report states that electric vehicles are considered clean and environment-friendly worldwide as they do not cause air pollution and use electricity as their primary source of fuel. This is in sharp contrast to conventional vehicles driven by gasoline and diesel. Electric vehicles (since their development stages to on-road performance) have been instrumental in reducing carbon footprints. The battery electric vehicles are known for zero pollution as they hardly emit any harmful gases into the air.

Key vendors

• Ingersoll Rand
• Polaris Industries
• Smart Automobile Company
• Textron
• Yamaha Motors

Other prominent vendors

• Italcar
• ParCar
• Rhoades Car
  

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: Market landscape

Part 06: Market segmentation by geography

Part 07: Market segmentation by vehicle type

Part 08: Market drivers

Part 09: Market challenges

Part 10: Market trends

Part 11: Vendor landscape

Part 12: Key vendor analysis

Part 13: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/vq3jpv/global_micro

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         Related Topics: Electric and Hybrid Vehicles

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