Golf Cart Market is likely to witness 4.2% CAGR in 2021

Stratview Research has launched a new research report on Golf Cart Market. This report segments the market in Three ways to provide a 360-degree holistic view.

The forecast of the market size has been segmented by –
 Vehicle Type (Electric Vehicle, Gas Powered Vehicle, Diesel Powered Vehicle),
 Vehicle Operating System (Electromagnetic Guidance, Manual),
 Region
 North America
 Europe
 Asia-Pacific
 Rest of the World

The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Golf Cart Market.

Years considered for this report –
 base year 2016
 trend period 2010 – 2015
 forecast period 2016 - 2021

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Golf cart market to witness 4.2% CAGR

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 largest cart 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.

Key Strategies

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.
The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Major Golf cart companies - Ingersoll Rand, Textron, Kawasaki Motors, E-Way, HDK Electric vehicles, and Cushman.

Report Features
This 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:
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Research Methodology
This report studies the Golf cart market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
 Extensive secondary research,
 Rigorous primary interviews with more than 10 industry stakeholders across the value chain.
 Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
 More than 1000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

Stratview Research has several high value market reports in the Consumer Goods industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Consumer-Goods.html

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This release was published on openPR.