The market research report “Golf Cart Market Size By Fuel (Gasoline, Electric & Solar Powered), By Application (Golf Course, Commercial Services), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Sweden, Spain, Netherlands, Italy, China, India, Japan, Australia, South Korea, Thailand, New Zealand, Brazil, Mexico, Argentina, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” by Global Market Insights, Inc. says Golf Cart Market to surpass USD 2 billion by 2025; Increasing golf projects across the globe will drive the golf cart market growth over the study timeframe.
Shifting preference of tourists towards recreational sports and leisure activities will escalate the golf cart market revenue. Growing number of resorts comprising more than 18-hole golf courses are providing potential opportunities for increased participation. Emerging economic destinations offering large accommodation facilities for families and individuals are augmenting the participation thereby supporting the vehicle demand.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3285
Electric and solar power-driven golf cart market value is expected to witness significant growth over the forecast time frame owing to low carbon emission and noise pollution. The electric vehicles create negligible sounds and remain economic over their lifespan. These vehicles find application in airports and medical institutes owing to the silent operation. Further, regulatory entities supporting the adoption of ecofriendly vehicles will drive the product demand.
Commercial services hold significant share in the golf cart market size owing to its use at facilities to transport goods and passengers over small distance. Facilities such as hotel and resorts employ golfing carts as these require lower maintenance and operating cost. In March 2019, X’Tan Ha partnered with golf cart rental facilities to experience pool and onsite amenities. Rising LSV fleets in the facilities will enhance the segment penetration in next six years.
North America will dominate the golf cart market share owing to presence of large number of golf courses. The region is continuously upgrading the facilities to attract the consumers. According to R&A, in 2019, there over 80 golfing courses in planning and around 50 courses under construction. Emergence of government regulations supporting adoption of low carbon emitting vehicles will further boost the industry size.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/3285
Global Golf Cart Market size from leather application is anticipated to witness significant gains over 2.0% by 2025. B311 functions as filler in leather sector. Rising living standards and presence of several premium leather brands including Gucci and Versace will stimulate product demand.
China market size from rubber application is anticipated to surpass USD 3.0 million by 2025. The product provides resistance against ageing and light in rubber products. Increasing demand of rubber from automotive industry for tires, brakes, car interiors and flooring will positively impact rubber production which may in turn increase market growth.
Golf Cart Market is fragmented with key industry participants including Kremer Pigments, American Elements, VB Technochemicals, Langfang Pairs Horses Chemical Co., Ltd., DowDuPont, Inc. and Titanos. Manufacturers are making heavy investments in R&D, and product innovation in order to cater increasing market growth.
Government regulatory such as NHTSA, AARP, and Golf Cart Rules & Regulations Florida provide norms pertaining to vehicle operation. According to Sec. 30-422.7, a golf cart must have efficient brakes, reliable steering apparatus, safe tires, rear view mirrors, safety belts, red reflectorized warning devices in the front and the rear, rear stop lamps meeting the minimum standards of F.S. §316.234(1) and turning signals meeting the minimum standards of F.S. § 316.234(2). Further, NHTSA does not require the vehicles to be equipped with airbags owing to low speed and operation in governed areas.
Europe golf cart market will witness significant growth prospects owing to the increasing participation in golf sports. Healthy economic conditions coupled with rising tourism expenditure are providing potential opportunities for engaging in recreational activities and golf trips. Rising prominence of golf campaigns and clubs offering membership packages are strengthening the market over the coming years.
Browse key industry insights spread across 350 pages with 611 market data tables & 16 charts & figures from the report, “Golf Cart Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/golf-cart-market
The golf cart market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in units and revenue in USD million from 2013 to 2025, for the following segments:
By Fuel
- Gasoline
- Electric & solar powered
By Application
- Golf course
- Commercial services
- Others
The above information is provided on a regional and country basis for the following:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Sweden
- Spain
- Netherlands
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- New Zealand
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- South Africa
The industry participants are investing heavily in R&D to enhance vehicle performance. The manufacturers are adopting innovative systems to enhance passenger comfort and riding experience. For instance, in November 2017, Augusta Golf & Utility Cars introduced RXV equipped with electric dual-braking systems with brake cable, pads or drums. The vehicle is designed on “Drive-By-Wire” system and ABS brakes to maintain uniform speed easily and braking safety. Ongoing initiatives to enhance vehicle performance will propel golf cart market size over the study timeframe.
The major industry participants in the golf cart market include Yamaha, Garia, Textron Specialized Vehicles Inc., Columbia Vehicles, Golf Carts Australia, Club Car, GDrive, and Golf Carts Australia. The companies are adopting various strategies including joint ventures, mergers and acquisitions, product modifications and geographical expansions to increase their market share. In January 2018, Club Car launched golf car with Tempo Connect to enhance golfing experience.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: http://technologymagazine.org/