Golf Cart Market estimated to grow at impressive CAGR in the forecast period (2016-2021)

Summary:
The report on the Golf Cart Market by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2016-2021. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Golf Cart Market is expected to inflate at impressive CAGR by the forecast period (2016– 2021).

As per the report, the market is segmented by:
• 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

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/toc/161/golf-cart-market.html

Highlights of the Report:

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 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 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 Players of the Market

The market is consolidated in nature with five major players Cushman, Hitachi Golf Cart, HDK Electric Vehicles, Ingersoll Rand Inc., Sanyo holding together the major share in the market, with Cushman being the key player.
Other important firms are Tesla Motors, Inc., Textron Company, Yahama Motors Co., Ltd., Zhuhai E-Way Electrical Industry Co., Ltd

Features of the Report

The Report discusses about the working of the golf carts, the various types, and the growth of the golf carts in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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Stratview Research
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This release was published on openPR.