Demand for Pollution Free Vehicles in Golf Cart Market Generates Opportunities for Electric Vehicle Offerings. United States is a major revenue generator owing to the large number of golf courses in the country. Shortage of charging infrastructure for electric golf carts remains a concern for market players
NEWARK, Del, July 18, 2022 (GLOBE NEWSWIRE) -- In the latest report on the global golf cart market, Future Market Insights (FMI), ESOMAR-certified market research and consulting company, offers insights into key factors affecting the market’s trajectory amid COVID-19. This edition is intended to update stakeholders on the key developments in the golf cart market. It also offers recommendations on how to react to this change. For this purpose, key industry metrics have been discussed at length and their impact on golf cart sales has been analyzed.
The popularity of golf carts is increasing with each day due to changing lifestyles and increasing inclination towards sustainable energy solutions which is one of the topmost factors driving growth. While increasing patronage of golfing activities remains a chief growth driver, the golf cart market does not limit itself to the same but has penetrated other sectors such as hotels, wedding events, amusement parks, tourism spots, airports, stadiums, security & patrolling, and cargo transport.
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The global golf carts market is expected to be gaining impetus as utility vehicles find increasing applications other than their use in golf courses.
With the development of the leisure and tourism sector and owing to the emerging trends such as electrification, the demand for golf carts is expected to swell immensely.
Consumer inclination toward sustainable alternatives will create attractive opportunities for solar-powered golf cart sales framing a positive growth outlook for the market.
Golf carts are mostly used in golf courses but with rising urban spaces and customization in their design, the demand from other industries is expected to rise as well.
Golf carts are used as utility vehicles and mobility tools in small communities, apartments and university campuses, at the railway station for carriage movement, and other purposes.
With the availability of alternative modes of transportation, golf carts are considered to be a flexible tool which has helped to improve mobility across urban spaces.
The U.S. is expected to remain one of the most lucrative markets for golf cart sales. The presence of several leading players such as Club Car, LLC, Yamaha Golf-Car Company, E-Z-GO, and others will drive growth in the U.S.
Club Car, LLC, Yamaha Golf-Car Company, E-Z-GO, EverGreen Electrical Vehicles, Columbia ParCar Corp, Hitachi Chemical Co., Ltd.)., Xiamen Dalle Electric Car Co., Ltd. Company, Maini Material Movement Pvt. Ltd, Garia Luxury Golf Car., Cruise Car, Inc., Toyota Motor Corporation, Polaris Inc, Solorider, GDRIVE Golf Cart, Carrieall Car Pvt Ltd, Volmac Engineering Pvt Ltd are some of the key companies profiled in the full version of the report.
Companies operating in the golf cart market are focusing on capacity expansion via product launches. Besides this, they are introducing state-of-the-art technologies to gain a competitive advantage.
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More Insights into the Golf Cart Market
According to the FMI analysis, the US is projected to remain one of the most lucrative markets for golf cart sales. The presence of several leading players such as Club Car, LLC, Yamaha Golf-Car Company, E-Z-GO, and others will drive growth in the U.S.
Remarkable growth registered in the U.K.’s construction activities and infrastructural development is estimated to boost the market for golf carts. The growth in UK automotive industry is responsible for accelerating sales of electric golf carts.
Europe leads the global share of investments in new projects under construction owing to an extensive railway network, which will create significant opportunities for sales in the coming years
The growing population and technological advancement in China along with an increase in globalization are the major factors contributing to the market growth.
India has emerged as one of the highly lucrative markets for golf carts. The ‘Make in India’ campaign is likely to create a conducive environment for the manufacture of golf carts. The advent of lithium-ion batteries and lithium polymer batteries is expected to bode well for the market.
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Global Golf Cart Market by Category
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The automotive segment of FMI offers a distinct and pinpoint analysis of the material industry. This elaborate coverage extends from revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, trends and pricing analysis. Our research studies serve as referencing market guidelines for industrial manufacturers channel partners and government bodies
3.1. Key Trends Impacting the Market
Top Reports Related To Automotive:
Electric Golf Cart Market Size: With rapid urbanization and industrialization, the adoption of electric golf carts as Neighbourhood Electric Vehicles (NEVs) is increasing. Golf course has gained much popularity all over the world
Golf Cart Batteries Market Sales: In the global market of golf cart batteries, North America is expected to dominate the global market. This can be attributed to the strong golf industry in the U.S. and Canada
Automotive Engineering Services Market Value: The automotive engineering services market is likely to strengthen its hold in the global market at a moderate CAGR of 8.6% during the forecast period.
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Electric Motor Horn Market Outlook: The global electric motor horn market size is anticipated to be valued at US$ 35.1 Bn in 2022
Electric Vehicle Motor Market Volume: The global electric vehicle motor market size stood at around US$ 48.1 Bn in 2021. As per the report, sales are expected to increase at a CAGR of 21.2%
Marine Fuel Filter Market Forecast: The marine fuel filter market is expected to record a CAGR of 5.05 % during the forecast period 2022-2032, up from US$ 1006.4 Mn in the year
Power Liftgate Market Trends: The global power liftgate market is estimated to witness a growth rate of 8.2% over the period of 2022 and 2030.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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