Driven by increasing the number of golf courses and country clubs, Golf Cart Market zooms at CAGR of 4.2%

Market & Growth Prognosis: Analyzing the market over a period of 2010-15 Stratview Research goes to the crux of the issues shaping the market and estimates the most probable future growth rate for the Golf Cart Market during the period 2016-21.

Stratview Research triangulates the market to grow at a healthy CAGR of 4.2% over the next five years.

The Diverse Stand Points

The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of Golf Cart has been viewing from various perspectives such as:

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

Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.

The answers to the prominent questions which are evinced out of above slicing of the market are:
● Which are the best performing segments of the market?
● Which is the most dominant region?
● Which material is the most promising?
● Who are the movers and shakers of the market?
● What are the regional growth hotspots?
● What are the segmental growth forecasts?

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The Factors Driving the market

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 rise of Electric golf carts

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.

Driven by demand, North America has the hegemony over the 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.

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The Report Highlights:

The Research Report offers a detailed look into market, its robust growth perspective, the factors influencing the industry, the competition intensity and a peek into the future.
The following are the key features of the report:
● Strategic segmentation
● Market analysis: Growth drivers and constraints, Porter’s five forces
● analysis, SWOT analysis
● Detailed Competitive Rivalry landscaping
● Market trend and forecast analysis
● Future Growth Boulevards

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This release was published on openPR.