An increase in urbanization and construction of hotels and hospitality and amusement parks are anticipated to bolster the global golf cart market in the coming years. Moreover, “the construction of hi-tech buildings and smart residential projects has also increased the demand for golf carts for residents to travel within the societies,” says the analyst of a new business intelligence report from IndustryARC. The report has evaluated the global golf cart market value at $2.38 billion as of 2018 and projected the opportunities to grow at a compound annual growth rate (CAGR) of 7.12% during the forecast period of 2019 to 2025.
The IndustryARC’s latest research report is titled “Golf Cart Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast (2019 – 2025).” The report also documents the usage of golf carts in airports, shopping malls, colleges, and universities established will fuel up the market in the foreseen future.
View Full Table of Contents of Golf Cart Market:
Global Golf Cart Market: Demand Analysis
Golf carts are the vehicles used to carry golfers and golf kits around the golf course. However, these carts are also used for general purposes such as travel within residential complexes and sometimes referred to as neighborhood electric vehicles (NEVs). There are two types of golf carts: adaptive golf carts and extreme golf carts.
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Global Golf Cart Market: Leading Segments
North America clenched the largest demand share in the global golf cart market at 38.81% in 2018. The increasing number of golf courses and country clubs are increasing the demand for golf carts in North America. Owing to the investments made by the companies and the government authorities has led to an increase in the number of hospitalities, amusement parks, and smart buildings and constructions. Moreover, North America is a developed economy and golf is played by most of the population. The government promotes golf as a sport for people by organizing championships such as PGA Championship, World Golf Championships, Presidents Cup, and Tour Championships.
The key application segments of the golf cart market are electric golf cart and solar golf cart, as per the IndustryARC analyst. The estimated opportunities for the growth in these applications is projected to grow at a healthy CAGR of 6.57% during the forecast period.
Global Golf Cart Market: The Disruptors
- Auro Robotics
Auro robotics is planning to create an autonomous vehicle that will act as a traveling tool around the universities, resorts, and retirement communities. These vehicles are generally free to operate without any restrictions and regulations. It is well equipped with radar, camera, GPS, sensing technology, and laser scanners.
- Mobile Autonomous Robotic Golf Cart Caddy
This golf cart offers two tracking modes that are controlled by a module which is connected to the golfer’s waistband. In one option, they can stand in front or behind the 39-pound caddy and engage follow mode or marching mode respectively. Apparently, there is a remote provided with which the caddy trek can be controlled and moved around manually.
- Solar Golf Cart
Solar golf carts are known amongst the owners who use it for maintenance workers, who owns a resort or the cart of his own. It just needs to be plugged into the sun and it can be charged anywhere during the day. These innovations have influenced the golf cart market demand to grow.
Global Golf Cart Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global golf cart market are Hitachi Chemical Co, Ltd, JH Global Services, Inc, Textron Specialized Vehicles Inc., Ingersoll-Rand Plc, Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd, Xiamen Dalle Electric Car Co., Ltd, Yamaha Golf Car Company, Garia Inc, Tomberlin, and Maini Material Movement Pvt Ltd.
What can you expect from the report?
The Golf Cart Market is Prepared with the Main Agenda to Cover the following 20 points:
- Golf Cart Market Size by Product Categories & Application
- Golf Cart Market trends & Relevant Market Data
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End-user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Golf Cart Market Demand Analysis (Revenue & Volume)
- Country-level Analysis
- Competitor Analysis
- Golf Cart Market Shares Analysis
- Value Chain Analysis
- Supply Chain Analysis
- Golf Cart Market Strategic Analysis
- Golf Cart Market Current & Future Market Landscape Analysis
- Opportunity Analysis
- Golf Cart Market Revenue and Volume Analysis
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