Golf Cart Market is expected to grow at a 6.9% CAGR Forecast by 2027.
This study provides an overview of the global Golf Cart Market, tracking four market segments across four geographic regions. The report studies key players and provide a five-year annual trend analysis, which highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, which focuses on the market opportunities for the next five years for each region. The scope of the study segments the global Golf Cart Market by solutions, system, vehicle type, propulsion, and region.
The prominent players in the global Golf Cart Market are 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), Polaris Industries, Inc. (US), Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD. (China), Speedways Electric (India), and Autopower (India).
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Golf carts are designed to quietly and efficiently move passengers and their baggage, gears, equipment, and supplies safely at low-speed. Resorts and clubs adopt such carts to connect transportation centers, and coordinate outings for guests at tournaments, special events, and expeditions.
The growing popularity of golf, across the globe, need of economical and convenient alternative to travel short distances, and new resorts and hotels, are expected to drive the global Golf Cart Market Size. Furthermore, with the rising demand to reduce carbon emissions and stringent government regulations, the global golf cart market is expected to witness substantial growth during the forecast period.
Manufacturers, around the globe are working on providing additional and advanced features to make golf carts more efficient, cost-effective and safer. Off-road tires, plastic battery tray, functional rear and front bumpers, and foldable windshield are some of the unique features of the golf carts by players in the market.
Golf recreation, people movers, street legal, off-road, and commercial used in airports, railways, golf courses, and residential purposes are the categories of golf carts offered by the manufacturers.
Market Research Analysis
In terms of region, the global market for golf cart is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold the highest share in the global Golf Cart Market Share, owing to an increase in demand for comfort and commute between distances within places, such as hotels, resorts and airports. Furthermore, the shifting interest of users for more economical and convenient alternatives is expected to add to the North America golf cart market.
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The rise in per capita disposable income and new resorts, hotels, airports, and golf course, are expected to increase the demand of golf carts in Asia-Pacific. Furthermore, the demand for motorized vehicles is expected to be an opportunity in countries, such as India, Indonesia, Malaysia, Australia, and China owing to the demand for pollution free, economical, and reliable alternatives to travel short distances.
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