The Golf Cart Market to experience an impressive growth of 4.2% CAGR during 2016-2021

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Golf Cart Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Golf Cart Market.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2016-2021.

The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.


The strategic Market dissection

The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by
1. Vehicle Type (Electric Vehicle, Gas Powered Vehicle, Diesel Powered Vehicle)
2. Operating System (Electromagnetic Guidance, Manual)
3. Region (North America, Europe, Asia-Pacific and Rest of the World)

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The Growth Prognosis & its Drivers

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.

The Key players

The top players are Ingersoll Rand, Textron, Kawasaki Motors, E-Way, HDK Electric vehicles, and Cushman.

The undisputed Dominance of the North America

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.

Emerging Trends: 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.

Click Here for Other Reports from Stratview Research in the Consumer Goods Industry: https://www.stratviewresearch.com/market-reports/Consumer-Goods.html

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This release was published on openPR.