Download Free Sample Copy of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=4537
Key Segments of the Golf Cart Market
Fact.MR’s study on the golf cart market offers information divided into four key segments-product, operation, application, ownership and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Product
- Push-Pull Golf Cart
- Gasoline Golf Cart
- Golf Cart
- Solar Powered Golf Cart
Operation
Application
- Golf Courses
- Personal Use
- Industry Use
- Others
Ownership
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- MEA
- Japan
Key Takeaways of Golf Cart Market
- Global golf carts market is expected to grow at a value CAGR of 5.4% and it is anticipated to expand 1.6X from 2019 through 2028.
- Golf carts which are electrically powered will hold the maximum share in terms of value and are projected to gain 34 BPS in value share by the end of forecast period.
- Powered golf carts will grow at a value CAGR of 5.6% and are projected to be valued at more than US$ 4 billion. These will create 19X more value opportunity than manual golf carts by the end of forecast period.
- Use of golf cart on the golf course is expected to remain higher than personal and industrial use and it is anticipated to create an absolute $ opportunity of more than US$ 750 million during the forecast period.
- Fully owned golf carts are set to acquire majority share in the global golf cart market and are expected to grow at a volume CAGR of 5.1%. Fully owned golf carts will gain 73 BPS in market share in terms of value by the end of forecast period.
- Asia Pacific Excluding Japan (APEJ) is projected to lead the global golf cart market with around 55% value share during the forecast period. Further, APEJ is expected to create an absolute $ opportunity of more than US$ 1 billion between 2019 and 2028.
Key Companies Profiled
- Golf-Car Company
- Cario
- Garia
- Club Car
- Guangdong Marshell Electric Vehicle Co., Ltd.
- E-Z-GO
- Polaris Industries Inc.
- Hawk Carts
- STAR EV CORPORATION
- G H Varley Pty Limited
- KT Pan Company Limited
- Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
- HDK Electric Vehicle.
Leading Manufacturers Exploring New Markets with Continuous Expansion of their Product Portfolio
Global golf cart market is highly competitive in nature. Leading manufacturers are introducing new products with enhanced properties and entering new geographies in order to expand their reach at new customer bases. For instance, in August 2019, Yamaha Golf Car Company started its distribution of its subsidiaries New England Golf Cars (NEGC) and MA and W&B Golf Carts, Inc. in Maine, New Hampshire and Vermont states of the US. Also, in January 2018, Club Car introduced a new golf cart Tempo Connect designed with automotive styling and Visage Fleet Management & Shark Experience.
