Golf Cart Industrial News:
These golf courses constitute over 42% of the golf courses across
the world. The United States witnessed many businesses in the golf driving
ranges. Mexico is becoming a fruitful market for the golf cart market
manufacturers for the other applications. Several vacation companies in the
region offer various services, including the tour on the electric golf carts.
The European region is pushing hard to have significant growth in the upcoming
years. Hence it has witnessed ups and downs.
Golf Cart Market Overview:
The global golf cart market size is projected to increase at a CAGR of 6.9%, with a significant
value in the forecasting year of 2022-2030.
As the investments in the infrastructure development of the golf
courses across the elderly rural and resorts worldwide are increasing, so is
the need for golf cars. This cart is a low-speed vehicle utilized in golf
courses to transport the golfers and the golf equipment. The increasing
popularity of golf and the rapid urbanization coupled with the growth of
disposable income are some of the key factors that fuel the demand for
vehicles. However, the increasing golf penetration in the several industries,
including hotels, tourism, amusement park and several others, along with the
growing scope of the golf cart rental services, is expected to boost the demand
for the vehicles across the industries in the future.
The surge in demand for low-speed vehicles for several
applications like short-range travel in parks, industrial areas, colleges and
others is driving the growth of the global market sectors. However, the
increasing presence of the various golf clubs and societies across the
developed and developing economies is expected to drive the growth of the
market sectors across the world.
Furthermore, the technological advancements in modern golf cars
like electrification, increasing income level, autonomy, solar-powered drive
train and the others are anticipated to attract a wide customer base in the
upcoming years. The COVID-19 pandemic continues to impact the demand for such
types of vehicles.
Golf Cart Market Segmentation:
The global golf cart market
has been segmented into four types such as application, type, end-users and
regional analysis. The market is further divided into six parts railways, golf
courses, airports, hotels and resorts, multi-residential complexes, and others
in terms of the application section. With the type section, the market is
classified into three types electric golf carts, gasoline golf carts &
solar golf carts. According to the end-user section, the global market is
divided into electric golf carts and gasoline carts. As per the regional basis,
it is classified into five sections such as Asia-Pacific, Europe, North
America, South America and Middle East & Africa.
Golf Cart Market Key Players
·
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)
Golf Cart Market Regional Analysis:
North America is projected to hold the golf cart market over the forecasting period. The region has the
presence of key industry leaders like Yamaha Golf-Car Company, Club Car LLC,
Columbia ParCar Corp, Cruise Car Inc., Garia Inc, and Textron Inc. The United
States has a special place for this sport as it possesses more than 17,000
courses, hosts three of the four men’s major championships and has several of
the finest players in this sport.
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