Golf Cart Market Report Overview
The report provides an analysis of both the current and future conditions in the Golf Cart market, delivering valuable insights and the latest information across essential segments. Within the context of the Golf Cart market, the study covers crucial research areas like revenue generation, sales, and overall income. In order to offer a thorough evaluation, the report presents two distinct scenarios that encompass the entire range of the Golf Cart market, including the projected Golf Cart sales during the forecast period.
Golf Cart market was valued at US$ 1.58 Bn. in 2022. Golf Cart Market size is estimated to grow at a CAGR of 4.37 % over the forecast period.
Golf Cart Market Report Scope and Research Methodology
The primary goal of the Golf Cart market report is to offer a comprehensive analysis using clear and straightforward language. The study encompasses all the prominent companies and key aspects within the Golf Cart market, evaluating various measures like volume, share, growth, and strategies. This research not only assists established businesses in refining their operational plans but also provides future entrants with strategic recommendations. MMR's research undertakes a thorough exploration of the Golf Cart market, highlighting the foremost global companies based on metrics such as volume, share, strategies, and growth. The report further supplies strategies applicable to both existing industry participants and prospective Golf Cart market entrants. Moreover, the global report for the Golf Cart market presents a meticulous breakdown of regional share distribution, accompanied by an examination of growth drivers in those specific regions.
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Golf Cart Market Regional Insights
The North America region dominated the market with highest share in 2022. The North America region is expected to witness significant growth at a CAGR of 5.11% through the forecast period.
The rising popularity of golf as a sport in nations like the United States is one of the key variables expected to propel the market's expansion in the area. In the United States, around 100 million individuals will play golf, watch the game, or read about it in 2020, according to statistics provided by the National Golf Foundation. In addition, the results showed that golfers played an average of 20 rounds over the same year. the number of country clubs golf course in the United States is rising. A rise in the population's discretionary income and leisure time spending is a result of increased disposable income. The market for golf carts is growing as a result of all these variables together. The market in the area is further divided into the United States and Canada by country.
Golf Cart Market Segmentation
by Product Type
Electric Golf Cart
Gasoline Golf Cart
Solar Golf Cart
Electric Golf Cart segment is dominating the market with highest CAGR during the forecast period. Because of its higher efficiency and viability compared to gasoline golf carts, the electric sector currently holds a monopoly on the global market. Electric golf carts are environmentally sustainable since they produce less noise and no carbon emission, low operating cost. Electric golf carts have rapid acceleration and it’s fashionable, tech-savvy variants that draw golfers.
by Application
Golf Course
Personal Services
Commercial Services
Golf Course segment is dominating the market with highest CAGR during the forecast period. Due to the vast number of golf courses present in the world, the golf course segment is anticipated to grow during the duration of the forecast. Golf has gained popularity over the past few years, which has resulted in more coaching and financial investments in the sport. Furthermore, despite the high prices, professional golfers still like playing on traditional golf courses.
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Golf Cart Market Key Players
1. Garia Inc.
2. Platinum Equity Aadvisors, LLC
3. Textron Inc.
4. Yamaha Motor Co., Ltd.
5. Showa Denko
6. Maini Group
7. Nordic Group of Companies, Ltd.
8. Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd
9. Xiamen Dalle New Energy automobile Co., Ltd.
10. Atul Auto Limited
11. Club Car, Inc.
12. Polaris Industries, /inc.
13. Mission Golf cars
14. Cruise Car, Inc.
15. Karrior Electric Vehicles, Inc.
16. Diversified Golf Cars, Inc.
17. Giliberti, Inc.
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Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2021)
- Past Pricing and price curve by region (2017 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and their sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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