Golf Cart Market to witness a healthy CAGR of 4.2% in 2021

Stratview Research has published a new research report on Golf Cart Market. This extensive report by Stratview Research analyses the growth of Golf Cart Market over the trend period of 2010 to 2015 and forecast period of 2016 to 2021 under the following segments -
• By Vehicle Type (Electric Vehicle, Gas Powered Vehicle, Diesel Powered Vehicle)
• By Vehicle Operating System (Electromagnetic Guidance, Manual)
• By Region (North America, Europe, Asia-Pacific, Rest of the World)
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Increasing demand for golf carts
Golf carts are primarily used in the golf courses and country clubs by golfers to carry their clubs and other equipment. Golf cart saves labor & time, lets golfers transport their own clubs, lightens work for caddies, and encourages smoother and more enjoyable rounds. Apart from the golf courses & country clubs, golf carts are also preferred for carrying less heavy items or passengers for short distances in hotels, airports, shopping malls, and entertainment places. The golf car market has experienced significant decline over the past decade due to global economic crisis and limited number of golf courses and country clubs across the world.
The global golf cart market has a promising future with good growth opportunity and is likely to witness 4.2% CAGR during the forecast period of 2016 to 2021. Recovery of the global economy and increasing the number of golf courses and country clubs are the major drivers of the golf cart market in the next five years. Additionally, increasing preference for the use of golf carts in hotels, resorts, airports, and shopping malls is likely to drive the golf cart sales during the same period. Major golf cart manufacturers, such as Club Car and E-Z Go are renovating the clubs with the purpose to attract the golfers.

Electric golf carts to remain the dominant type
Electric golf carts are the most preferred type across the globe because of their benefits, such as environment friendliness with no carbon emissions and noise reduction. Electric golf carts are expected to remain the largest cart type during the forecast period.

North America to remain the largest market
North America is expected to remain the largest market for golf carts during the forecast period. High number of the golf courses and golfers are the primary reason behind North America’s dominance in the golf cart market.
All the major golf cart manufacturers are strategically well aligned with the regional market dynamics and have their manufacturing bases in North America to tap the regional potential. They are also targeting other growth markets.

Top market players
The supply chain of this market comprises raw material suppliers, component manufacturers, golf cart manufacturers, and distributors. The global golf cart is a consolidated market with global as well as regional players. The key golf cart manufacturers are Ingersoll Rand, Textron, Kawasaki Motors, E-Way, HDK Electric vehicles, and Cushman. New product development, renovation of the golf courses, and presence in the key markets are the key strategies adopted by the key players to gain competitive edge in the market.

Why Stratview Research
Our report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Golf Cart Market overview, industry life cycle analysis, supply chain analysis
• Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend (2010 – 2015) and forecast analysis (2016-2021) of each segment.
• Competitors’ market share, product portfolio and new launches.
• Growth opportunities in each segment.
• Emerging trends which will decide the future course of development.
• Strategic growth opportunities for the existing and new players
• Key success factors.

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This release was published on openPR.