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Golf Cart Market Business Opportunity 2021: Industry Relive the Growing Startegy till 2027 | Openpr.com
The global golf cart market was valued at US$ 3,262.3 million in 2017 and is projected to exhibit a CAGR of 6.3% during the forecast period (2019–2027), reaching US$ 5,590.0 million by 2027. Growing urbanization and industrialization are driving demand for golf carts, this in turn fueling growth of the global golf cart market. However, high initial costs associated with golf carts act as a major roadblock to the growth of the market. Additionally, lack of infrastructure for charging points of golf carts in emerging economies also hinders growth of the golf cart market.Increasing urbanization and industrialization in various emerging economies such as South Korea, Brazil, South Africa, China, and India are expected to boost mall culture, theme parks, amusement parks, and smart housing projects, among others. This in turn, has increased the demand for internal transportation to carry goods and people, subsequently fueling demand for golf carts. Increasing demand for customized products by end users, related to seating capacity and vehicle aesthetics have provided immense opportunities for market players.
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What are the growth estimates for golf cart markettill 2027?
The global golf cart market is estimated to reach US$ 5,590.0 Million by 2027.
Which are the prominent golf cart market players across the globe?
Major players operating in the global golf cart market include Autopower (India), Club Car, LLC, Columbia Vehicle Group Inc., E-Z-GO, Garia A/S, Hitachi Chemical Co., Ltd., INGERSOLL-RAND PLC, Marshell Green Power, Speedways Electric, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Textron Specialized Vehicles Inc., Xiamen Dalle Electric Car Co., Ltd, and Yamaha Golf-Car Company.
Which segment based on fueltype, accounted for the highest demand in the golf cart market?
Among fuel type, electric golf carts segment held a dominant position in 2018.
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