Industry

Golf Cart Market 2019 Size, Share, Industry Trends, Emerging Technology, Global Analysis, Forecast To 2023

The global golf cart market is expected to witness ~6.9% CAGR during the period, 2018–2023.

Market Highlights

Golf carts are designed to quietly and efficiently move passengers and their baggage, gears, equipment, and supplies safely at low-speed. Resorts and clubs adopt such carts to connect transportation centers, and coordinate outings for guests at tournaments, special events, and expeditions.

The growing popularity of golf, across the globe, need of economical and convenient alternative to travel short distances, and new resorts and hotels, are expected to drive the global golf cart market. Furthermore, with the rising demand to reduce carbon emissions and stringent government regulations, the global golf cart market is expected to witness substantial growth during the forecast period.

Manufacturers, around the globe are working on providing additional and advanced features to make golf carts more efficient, cost-effective and safer. Off-road tires, plastic battery tray, functional rear and front bumpers, and foldable windshield are some of the unique features of the golf carts by players in the market.

Golf & recreation, people movers, street legal, off-road, and commercial used in airports, railways, golf courses, and residential purposes are the categories of golf carts offered by the manufacturers.

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Key Players

The prominent players in the global golf cart market are Yamaha Golf-Car Company (US), STAR EV (US), Garia A/S (Denmark), Bradshaw Electric Vehicles (UK), E-Z-GO (US), Marshell Green Power (China), Spoleman OÜ (Estonia), Polaris Industries, Inc. (US), Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD. (China), Speedways Electric (India), and Autopower (India)

Market Research Analysis

In terms of region, the global market for golf cart is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold the highest share in the global  golf cart market, owing to an increase in demand for comfort and commute between distances within places, such as hotels, resorts and airports. Furthermore, the shifting interest of users for more economical and convenient alternatives is expected to add to the North America golf cart market.

The rise in per capita disposable income and new resorts, hotels, airports, and golf course, are expected to increase the demand of golf carts in Asia-Pacific. Furthermore, the demand for motorized vehicles is expected to be an opportunity in countries, such as India, Indonesia, Malaysia, Australia, and China owing to the demand for pollution free, economical, and reliable alternatives to travel short distances.

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Scope of the Report

This study provides an overview of the global golf cart market, tracking four market segments across four geographic regions. The report studies key players and provide a five-year annual trend analysis, which highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, which focuses on the market opportunities for the next five years for each region. The scope of the study segments the global golf cart market by solutions, system, vehicle type, propulsion, and region.

By Propulsion Type 

  • Electric
  • Gasoline

By Seating Capacity 

  • Small (2-4 Seater)
  • Medium (6-10 Seater)
  • Large (More than 10 Seater)

By Application  

  • Hotels & Resorts
  • Airports
  • Golf Courses
  • Railways
  • Multi-residential Complexes
  • Others

By Regions

  • North America
  • Asia-Pacific
  • Europe
  • Rest of the World

TABLE OF CONTENTS

1. EXECUTIVE SUMMARY

2. SCOPE OF THE REPORT

2.1. MARKET DEFINITION

2.2. SCOPE OF THE STUDY

2.2.1. DEFINITION

2.2.2. RESEARCH OBJECTIVE

2.2.3. ASSUMPTIONS

2.2.4. LIMITATIONS

2.3. RESEARCH PROCESS

2.3.1. PRIMARY RESEARCH

2.3.2. SECONDARY RESEARCH

2.4. MARKET SIZE ESTIMATION

2.5. FORECAST MODEL

3. MARKET LANDSCAPE

3.1. PORTER’S FIVE FORCES ANALYSIS

3.1.1. THREAT OF NEW ENTRANTS

3.1.2. BARGAINING POWER OF BUYERS

3.1.3. THREAT OF SUBSTITUTES

3.1.4. SEGMENT RIVALRY

3.1.5. BARGAINING POWER OF BUYERS

3.2. VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4. MARKET DYNAMICS

4.1. INTRODUCTION

4.2. MARKET DRIVERS

4.3. MARKET RESTRAINTS

4.4. MARKET OPPORTUNITIES

4.5. MARKET TRENDS

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