Golf carts have been an important fixture of golf courses around the world as they permit ease of transportation over large distances. The insights into the industry of energy and power are advanced by Market Research Future, which concentrates on reports on industry verticals that review the market options for growth. The market is expected to see an impressive CAGR in the coming period. Golf Cart Market Size To Expand at a Notable CAGR Of 6.9% During 2018 – 2023
The augmented popularity of golf carts due to them being easy modes of transportation and also environmentally friendly is anticipated to motivate the golf cart market. moreover, many areas that have a golf course in gated communities are using the golf carts, promoting the demand for electric golf cart market.
The segmentation of the golf cart market is conducted on the basis of seating capacity, propulsion type, application, and region. Based on the propulsion type, the golf cart market has been bifurcated into gasoline golf cart and electric golf cart. On the basis of the seating capacity, the golf cart market has been segmented into medium (6-10 seater), small (2-4 seater), and large (More than 10). Based on the application, the golf cart market has been segmented into airports, hotels & resorts, railways, multi-residential complexes, golf courses, and others. On the basis of regions, the golf cart market is segmented into North America, Europe, APAC, and other global regions.
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Detailed Regional Analysis
The regional review of the golf cart market has been segmented into regions such as North America, Europe, APAC, and other global regions. The North American region is anticipated to possess an outstanding market share throughout the forecast period, due to the intensifying demand for mobility solutions over shorter expanses. In addition, the government initiatives to implement eco-friendly substitutes or electric golf carts in the golf courses and hotels & resorts are estimated to increase the demand over the forecast period.
The restrictions in the market are constantly being studied so that breakthroughs to remove them can be undertaken. The need to keep the market practices in sync with the environmental concerns that are looming is expected to promote the overall sustainability of the market. The upturn in the performance of domestic markets is expected to have a favorable impression on the growth of the market. The ability to successfully satisfy the demand forces will require the industry to excel in several areas. the variation of the workforce can enable the successful implementation of growth strategies in the market. it is also noted that the cooperation by the governments around the world in terms of relaxation of several barriers and the institution of constructive strategies is expected to put the market on a track for unparalleled development.
The well-known contenders in the golf cart industry are STAR EV (US), Garia A/S (Denmark), Bradshaw Electric Vehicles (UK), Yamaha Golf-Car Company (US), Marshell Green Power (China), Spoleman OÜ (Estonia), Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD. (China), Polaris Industries, Inc. (US), Speedways Electric (India), E-Z-GO (US), and Autopower (India) to name a few.
Jan 2019 The Ocala City Council, Florida has recently voted to permit golf carts in and about downtown. The change will, however not be effective until June. It also gives residents time to get their permits and register their golf carts.
Sep 2019 Dubai Airport has introduced new service on its terminals taxiDXB, which is a novel service that delivers service through the terminal by golf cart. There will at first include 15 “taxis” existing in the B Concourse of Terminal 3 and there are plans for this service to be expanded eventually. The services will be available on a first-come, first-served basis, through which the elderly and families will receive priority.
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TABLE OF CONTENTS
1. EXECUTIVE SUMMARY
2. SCOPE OF THE REPORT
2.1. MARKET DEFINITION
2.2. SCOPE OF THE STUDY
2.2.2. RESEARCH OBJECTIVE
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
4.2. MARKET DRIVERS
4.3. MARKET RESTRAINTS
4.4. MARKET OPPORTUNITIES
4.5. MARKET TRENDS
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