Golf Cart Market, by Component, End Users, Product Type, Seating Capacity, and by Geography - Global Forecast to 2025

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Golf Cart Market - Global Industry Insight,
Trends, Outlook, and Opportunity Analysis
2017-2025

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REPORT DESCRIPTION
Golf Cart Market Overview
The global golf cart market was valued at US
3,262.3 million in 2016 and is projected to
exhibit a CAGR of 5.95 during the forecast
period (20172025), reaching US 5,590.0 million
by 2025. Growing urbanization and
industrialization are driving demand for golf
carts, in turn fueling growth of the global golf
cart market. High initial costs associated with
golf carts pose as a major challenge, hindering
growth of the market. Additionally, lack of
infrastructure for charging points of golf carts
in emerging economies also hinders growth of the
golf cart market. The increasing urbanization
and industrialization in emerging economies have
fueled the market for golf cart Increasing
urbanization and industrialization in various
emerging economies such as South Korea, Brazil,
South Africa, China, and India are expected to
boost mall culture, theme parks, amusement parks,
and smart housing projects, among others. This in
turn, has increased the demand for internal
transportation to carry goods and people,
subsequently fueling demand for golf carts.
Increasing demand for customized products by end
users, related to seating capacity and vehicle
aesthetics have provided immense opportunities
for market players.
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REPORT DESCRIPTION
Increasing demand for electric golf carts fuels
growth of the global golf cart market On the
basis of product type, the global golf cart
market is segmented into electric golf carts and
gasoline golf carts. The electric golf carts
segment held a dominant position in 2016 and is
projected to retain its dominance throughout the
forecast period. Increasing demand for
pollution-free vehicles, surging prices of fuels,
coupled with low costs associated with
maintenance of electric carts are creating a
conducive environment for growth of the
segment. Electric golf carts are powered by
lead-acid batteries that enables the increase in
its weight-to-performance ratio. Lithium golf
cart batteries are half the size of a traditional
lead-acid battery, and two-thirds of the battery
weight, which enables the golf cart to reach
higher speeds with less energy and can transport
more weight. Request sample Copy of this
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ght/request-sample/1297

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REPORT DESCRIPTION
North America holds a dominant position in the
global golf cart market On the basis of
geography, the global golf cart market is
segmented into North America, Europe, Asia
Pacific, Latin America, Africa, and the Middle
East. According to Coherent Market Insights,
North America held a dominant position in the
global golf cart market in 2016 and is projected
to retain its dominance throughout the forecast
period. High popularity of golf sport in this
region has resulted in the establishment of a
large number of golf clubs, in turn increasing
the demand for golf carts in the region. The U.S.
and Canada are the major countries driving growth
of the golf cart market in North America. Asia
Pacific holds the second largest position in the
golf cart market. Increasing adoption of electric
golf carts in various end-use industries such as
malls, airports, and residential apartments are
fueling growth of the market in the region.
China, Japan, Australia, and India are the major
countries driving growth of the market for golf
cart in Asia Pacific. Request For Customization
_at_ https//www.coherentmarketinsights.com/insight/r
equest-customization/1038
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