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.
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.
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.
Talk to one of our sales representative
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What can you expect from the
report?
The golf
cart market is prepared with the main agenda to cover the following 20
points:
1. Market Size by Product Categories
& Application 11. Demand
Analysis (Revenue & Volume)
2. Market trends & Relevant Market
Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market
Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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