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The global golf cart market was valued at $1,607.75 million in 2016, and is estimated to reach $2,591.69 million by 2023, growing at a CAGR of 7.20% from 2017 to 2023. Golf cart is lightweight utility vehicle, which is used for short-distance transportation across golf course, hotels, hospitals, and others. The global golf cart market is expected to witness significant growth in the future, owing to rising in purchasing power and strengthening economy across the globe.
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The Asia-Pacific golf cart market is expected to register the highest CAGR during the forecast period, due to the implementation of stringent government rules & regulations towards vehicle emission and increase in environmental concern across various nations.
The golf cart market is segmented based on product type, application, and geography. On the basis of product type, the market is classified into electric golf cart, gasoline golf cart, and solar golf cart. By application, it is divided as golf course, personal services, and commercial services. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the report are Garia Inc., Hitachi Chemical Co. Ltd, Ingersoll Rand Plc, JH Global Services, Inc., Maini Materials Movement Pvt. Ltd., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Textron Specialized Vehicles Inc., Tomberlin, Xiamen Dalle Electric Car Co. Ltd., and Yamaha Golf Car Company. The report presents analysis on the key strategies adopted by these players and the detailed analysis of the current trends, upcoming opportunities, and restraints of the golf cart market.
In-depth analysis and dynamics of the golf cart market is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on the prevailing market opportunities.
Porter’s Five Forces analysis examines the competitive structure and provides a clear understanding of the factors that influence market entry and expansion.
A detailed analysis of the geographical segments enables the identification of profitable segments for market players.
KEY MARKET SEGMENTS
By Product type
Electric Golf Cart
Gasoline Golf Cart
Solar Golf Cart
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This post was originally published on Food and Beverage Herald