What Factors are Driving the MENA Golf Cart Market from $69.07 Million to a Projected $125.1 Million?

According to a recent report published by Allied Market Research, titled, "MENA Golf Cart Market by Passenger Capacity, Vehicle Speed, Fuel Type, and Application: Opportunity Analysis and Industry Forecast, 2017-2031," The market size of MENA golf cart industry was valued at $69.07 million in 2017, and is projected to reach $125.1 million by 2031, registering a CAGR of 5.6% from 2022 to 2031.

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The rise in demand for golf carts in hotels and resorts across the region is expected to drive the growth of the market during the forecast period. new infrastructure developments under construction in the region include ambitious hotels, golf resorts, golf academies, a six-star resort hotel and spa, golf communities, golf villages, and retail souks, which creates demand for new golf carts. Golf carts in restaurants and hotels are used to navigate passengers to their rooms. in addition, the distance between different rooms or places in the hotels can be covered using carts.

Moreover, the popularity of golf as well as the number of golf courses per population, and the availability of golf facilities are some of the major indicators that fuel the market growth during the forecast period. In addition, growth in awareness toward golf along with a significant number of upcoming and planned golf courses are anticipated to drive the demand for the growth of golf carts in the coming years. Moreover, the inclusion of golf in the Olympics till 2024 is projected to provide profitable opportunities for the golf cart market players. Additionally, an increase in investor investments, an increase in the use of golf carts for daily commuting, and a decrease in the price of fuel cells and batteries all contribute to the market growth of electric golf carts.

Growth in the popularity of golf carts, owing to their compact size, and alternatives for efficient transport vehicles in residential complexes, utilities, recreational grounds, and commercial spaces drive the growth of the MENA golf cart market. In addition, the availability of customized and different variants of golf carts suited for different personal applications such as transportation in private villas, farmhouses, residential complexes, and short-distance commutes is gathering significant adoption of golf carts. In addition, the integration of smart technologies is also anticipated to drive the growth of MENA golf carts for personal use. This provides attractive growth opportunities for market players.

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Furthermore, factors such as stringent automotive emission guidelines and emphasis on the adoption of energy-efficient electric vehicles have gained traction among developed and developing market. Subsequently, the electric golf cart, owing to its low emission, easy maintenance, and energy efficiency has witnessed notable market penetration in the Middle East and North Africa. However, the growth in popularity of golf and a substantial number of upcoming golf facilities in the Middle East and Africa is expected to provide better growth opportunities for the market players. In addition, the rise in demand for swift and efficient transport vehicles at commercial spaces such as resorts, hotels, universities, and airports also fuel demand for golf cart variant transportation vehicles in developing countries across the region. An increase in road traffic and an increase in the number of charging infrastructure drive the growth of the Middle East and North Africa golf cart market.

COVID-19 Impact Analysis :

The COVID-19 crisis is creating uncertainty in the market, massive slowing of the supply chain, falling business confidence, and increasing panic in the automotive sector. Governments of different regions have already announced a total lockdown and the temporary shutdown of industries, and the overall production process is adversely affected. The spread of the COVID-19 pandemic has negatively impacted the MENA golf cart market owing to the lockdown imposed in the majority of countries across the globe.

Key Findings Of The Study :

By passenger capacity, the two passenger segment is anticipated to exhibit significant growth in the near future.

By vehicle speed, the high speed vehicle segment is anticipated to exhibit significant growth in the near future.

By fuel type, the electric segment is anticipated to exhibit significant growth in the near future.

By application, the golf course segment is anticipated to exhibit significant growth in the near future.

By country, Saudi Arabia is anticipated to register the highest CAGR during the forecast period.

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Key players operating in the MENA golf cart market include Club Car, Ellwee, EVOLUTION ELECTRIC VEHICLE (HDK ELECTRIC VEHICLES), Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd, Electric Car UAE (Happy Jump for Electric Cars), HITACHI, STAR EV (JH GLOBAL SERVICES, INC.), Textron Specialized Vehicles Inc, Waev Inc, and Yamaha Golf Cart.

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