Skip to main content

Golf Cart Market Technological Advancements, Current and Future Scenario of Industry Growth

The global golf cart market was valued at US$ 3,262.3 million in 2016 and is projected to exhibit a CAGR of 5.95% during the forecast period (2017–2025), reaching US$ 5,590.0 million by 2025. Growing urbanization and industrialization are some of the factors driving growth of the global golf cart market. However, high initial costs associated with golf carts is major factor hindering growth of the market. Moreover, lack of infrastructure for charging points of golf carts in emerging economies hinders growth of the golf cart market.


The increasing urbanization and industrialization in emerging economies have fueled growth of the golf cart market
Increasing urbanization and industrialization in various emerging economies such as South Korea, Brazil, South Africa, China, and India are expected to boost mall culture, theme parks, amusement parks, and smart housing projects, among others. This is expected to increase demand for golf carts for internal transportation in malls to carry goods and people. Furthermore, increasing demand for customized products related to seating capacity and vehicle aesthetics have provided immense opportunities for market players.

Increasing demand for electric golf carts fuels growth of the global golf cart market

On the basis of product type, the global golf cart market is segmented into electric golf carts and gasoline golf carts. The electric golf carts segment held a dominant position in 2016 and is projected to retain its dominance throughout the forecast period. Increasing demand for pollution-free vehicles, surging prices of fuels, coupled with low costs associated with maintenance of electric carts are creating a conducive environment for growth of the segment.

Electric golf carts are powered by lead-acid batteries that enables the increase in its weight-to-performance ratio. Lithium golf cart batteries are half the size of a traditional lead-acid battery, and two-thirds of the battery weight, which enables the golf cart to reach higher speeds with less energy and can transport more weight.

North America holds a dominant position in the global golf cart market

On the basis of geography, the global golf cart market is segmented into North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East. According to Coherent Market Insights, North America held a dominant position in the global golf cart market in 2016 and is projected to retain its dominance throughout the forecast period. High popularity of golf sport in this region has resulted in the establishment of a large number of golf clubs, in turn increasing the demand for golf carts in the region. The U.S. and Canada are the major countries driving growth of the golf cart market in North America. 


Key companies covered as a part of this study include Club Car, LLC, Columbia ParCar Corp, Cruise Car, Inc, EverGreen Electrical Vehicles, E-Z-GO, Garia Luxury Golf Car, Hitachi Chemical Co., Ltd., Maini Material Movement Pvt. Ltd., Xiamen Dalle Electric Car Co., Ltd, and Yamaha Golf-Car Company
Labels:

Comments

Post a Comment

Popular posts from this blog

Application Delivery Network Market 2026 Focus On Research Methodology, Market Dynamics

Application Delivery Network is a set of technologies, which provides application availability, security, visibility, and acceleration. The application development network is primarily implemented to work with dynamic content. The major advantage of application delivery network is that it helps in improving the performance of Internet traffic. Increasing data traffic is major factor driving growth of the market. According to Coherent Market Insights, in 2016, 96,054 PB IP data traffic was generated per month and is projected to reach 278,108 PB IP data traffic by 2021, worldwide. Hence, increasing data traffic have accelerated the demand for application delivery network. Download PDF Copy @ https://www.coherentmarketinsights.com/insight/request-pdf/1390 Increasing adoption of mobile traffic is major factor driving growth of the market Increasing adoption of smart phones by user is one of the major reason for mobile data traffic. According to the Coherent Market Insights...
Post a Comment
Read more

Data Center Virtualization Market by 2026 Capacity, Production, Revenue & Regional Analysis

Data center virtualization is a process of designing, developing or deploying a data center on cloud computing or virtualization technology. Cost saving is one of the major factors for growth of the data center virtualization market. This is owing to the fact that data center virtualization helps to reduce hardware installation, and reduces electricity cost by providing hosted platform. Therefore, it aids small and medium sizes companies to reduce their expenses on IT department. Download PDF To explore detail study @ https://www.coherentmarketinsights.com/insight/request-pdf/1245 Advantages of disaster recovery provided by data center virtualization plays a key role for growth of market in various vertical such as banking, healthcare, education, and retail. Disaster recovery-as-a-service protects company information and data from disasters by generating multiple backups. Increasing demand for data either structured or unstructured, for analyses of the market trend, customer de...
Post a Comment
Read more

APAC Electric Charging Station Market : Release Latest Trends & Industry Vision 2026

The APAC electric charging station market was valued at US$ 1,238.4 million in 2017 and is expected to increase to US$ 3,785.8 million by 2026, registering a CAGR of 30.3% over the forecast period from 2018 to 2026, according to APAC Electric Charging Station Market Report, by Charging Station Type (AC Charging, DC Charging, and Wireless Charging), by Technology  Type (Level 1, Level 2, and Level 3 ), by End User (Private and Public), and by Country (China, Japan, ASEAN, Australia, South Korea, and Rest of Asia Pacific), published by Coherent Market Insights. Request Sample Copy @ https://www.coherentmarketinsights.com/insight/request-sample/2473 Increasing awareness about pollution hazards and efforts taken to reduce the same is expected to drive growth of the APAC electric charging station market. Dependence on fuels that are imported is one of the major issues faced by Asian countries. Usage of electric vehicles helps in reducing the use of fuel. Moreove...
Post a Comment
Read more