Skip to main content

Golf Cart Market Evolving Industry Trends and Key Insights by 2026

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

Hashgraph Market Consumption, Market Share, Growth Opportunities & Regions By 2026

Hashgraph is an advanced type of distributed ledger technology developed by Swirlds, a US-based company. The key features of hashgraph algorithm includes fast, secure and fairness of access. Hashgraph is a data structure and distributed algorithm that reduces the requirement of major computation power and massive energy consumption. Moreover, hashgraph is expected to eliminate Ripple in banking and finance application. It can carry out functions faster than blockchain, and takes only a second for hundreds of thousands of transactions. These factors are expected to provide major growth opportunity to decentralized applications including games, stock market, and auctions. Download PDF Brochure @ https://www.coherentmarketinsights.com/insight/request-pdf/1130 Most applications that require thousands of transactions per second require community agreement on the order of transactions in near real time. For example, Google Apps for Work includes docs, sheets, and slides that can be...
Post a Comment
Read more

Desktop virtualization Market Will Boost Developments in Global Industry by 2018-2026

Desktop virtualization is a virtualization technology, which is used to separate a computer desktop environment from physical computers by storing desktop in remote location server. Server virtualization has gained significant popularity among organizations to consolidate servers, however, desktop virtualization aid in reducing the complexity associated with deployment and maintenance of devices, which helps IT departments to reduce desktop maintenance cost. Elaborate more @ https://www.coherentmarketinsights.com/ongoing-insight/desktop-virtualization-market-1514 Due to various advantages such as cost saving, simplified management, security, flexibility, and increased productivity have led to increasing adoption of desktop application market globally. Trend of bring-your-own devices (BYOD) is a major factor for growth of the market. Employee satisfaction and retention, increased productivity, and cost saving are some of the advantages leading to demand for BYOD in various o...
Post a Comment
Read more