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Golf Cart Market by Product Type (Electric Golf Cart, Gasoline Golf Cart, and Solar Golf Cart), and Application (Golf Course, Personal Services, and Commercial Services): Global Opportunity Analysis and Industry Forecast, 2019-2026

AU_182099
Pages: 236
Oct 2019 | 10562 Views
 
Author(s) : Akshay Jadhav and Pranav Padalkar , Supradip Baul
Tables: 83
Charts: 52
 

Golf Cart Market Outlook: 2026

The global golf cart market size was valued at $1.62 billion in 2018, and is projected to each $2.25 billion by 2026, registering a CAGR of 4.2% from 2019 to 2026.

Golf cart is a type of low speed vehicle driven by electric motors, which is gas-powered or is specifically envisioned for the utilization in golf courses for transportation of golfers and the equipment within the course premises. It is also known as non-highway or off-road vehicle with the average speed between 25 and 50 kmph. 

The golf cart market report is segmented into product, application, and region. On the basis of product, it is divided into electric, gasoline, solar, and others. Based on application, it is classified into golf course, airport, hotel, and others. Growth in number of vehicle sales, urbanization in countries, such as India and China, and rise in usage of golf cart especially in golf courses are anticipated to expand the growth of golf carts market between 2019 and 2026. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Golf Cart Market

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The major companies profiled in the golf cart market share include Garia Inc., Hitachi Chemical Co. Ltd, Ingersoll Rand plc, JH Global Services, Inc., Maini Materials Movement Pvt. Ltd., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Textron Specialized Vehicles Inc., Tomberlin, Xiamen Dalle Electric Car Co. Ltd., and Yamaha Golf Car Company.

Top Impacting Factors

The key growth factors of the golf cart market include growth in population along with increase in globalization and rise in purchasing power, stringent government rules and regulations toward vehicle emission, high initial maintenance and purchasing cost, low power and speed, low overall drive range, technological advancement for golf carts, and reduction in cost of fuel cells and batteries are the significant factors that solar golf cart the growth of the global golf cart industry. These factors are anticipated to either drive or hamper the market. 

Golf Cart Market
By Product Type

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Solar golf cart is projected as the most lucrative segments

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Growth in population along with increase in globalization and rise in purchasing power

Every year, the world population grows approximately by 43 million. This boom in population has created many opportunities for many businesses and this is also true for the global golf cart market. This is owing to the demand for compact and maneuverable vehicles that occupy small parking space. Globalization on the other hand helps organizations develop international influence and this influence has helped change the outlook of different countries and region. It has helped people to vouch for a different and better lifestyle, it has encouraged the people to spend more and get the best service possible.

Golf Cart Market
By Application

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Personal services is projected as the most lucrative segments

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Stringent government rules and regulations toward vehicle emission

The government all around the world has become very strict regarding the problem of vehicle emission due to its impact on the environment. The U.S., Germany, France, and China have implemented government laws and regulations for vehicular emission and has made it mandatory for the automobile manufacturers to use advanced technologies to combat high emission levels in vehicles. The Program launched by California Air Resources Board (“CARB”), also includes guidelines for manufacturers to produce and deliver zero-emission vehicles (ZEVs). The ZEV mandate substantially boosts the adoption of electric vehicles. The golf carts come in two variants, one being gasoline powered and other that runs on electricity.

The electric variant is the most ecofriendly out of the two but the gasoline powered variety itself doesn’t produce a lot of unwanted pollution because of its downsized engines and low overall power and weight than other vehicles. It can be taken that these vehicles are quite compliant toward vehicular emission and has a bright future ahead because of this quality. This holds especially true for the electric golf carts.
High initial maintenance and purchasing cost 

The golf carts are used as mode of transportation or utility vehicles for the campuses by the user. The initial cost varies with the different type of features required such as radios, built in refrigerator, air conditioning, GPS, and others. The golf cart requires a lot of regular maintenance such as service brakes, rear axle, batteries, and others, incur cost. Hence, high initial cost restricts the growth of the golf cart market.

Golf Cart Market
By Region

2026
North America 
Europe
Asia-Pacific
LAMEA

Asia Pacific region would exhibit the highest CAGR of 5.8% during 2019-2026.

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Key Benefits for Golf Cart Market :

  • This study comprises analytical depiction of the golf cart market trends with current trends and future estimations to depict the imminent investment pockets.
  • The overall potential is determined to understand the profitable trends to gain a stronger foothold.
  • There is high potential of golf cart market returns.
  • The golf cart market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current growth and golf cart market forecast is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market share.
  • The study also comprises the golf cart market opportunity which help key players in decision making.
  • The leading players in the industry are expecting high revenue margin from golf cart market returns. 

Golf Cart Market Segments:

By Product Type

  • Electric Golf Cart
  • Gasoline Golf Cart
  • Solar Golf Cart

By Application

  • Golf Course
  • Personal Services
  • Commercial Services

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players 

  • Garia Inc.
  • Hitachi Chemical Co. Ltd
  • Ingersoll Rand plc
  • JH Global Services, Inc.
  • Maini Materials Movement Pvt. Ltd.
  • Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
  • Textron Specialized Vehicles Inc.
  • Tomberlin
  • Xiamen Dalle Electric Car Co. Ltd.
  • Yamaha Golf Car Company
 

CHAPTER 1:    INTRODUCTION

1.1.    REPORT DESCRIPTION
1.2.    KEY BENEFITS FOR STAKEHOLDERS
1.3.    KEY MARKET SEGMENTS
1.4.    RESEARCH METHODOLOGY

1.4.1.    Secondary research
1.4.2.    Primary research
1.4.3.    Analyst tools & models

CHAPTER 2:    EXECUTIVE SUMMARY

2.1.    CXO PERSPECTIVE

CHAPTER 3:    MARKET OVERVIEW

3.1.    MARKET DEFINITION AND SCOPE
3.2.    KEY FINDINGS

3.2.1.    Top impacting factors
3.2.2.    Top investment pockets
3.2.3.    Top winning strategies

3.3.    PORTER'S FIVE FORCES ANALYSIS
3.4.    MARKET SHARE ANALYSIS, 2018 (%)
3.5.    VENDOR SHARE ANALYSIS BY APPLICATION, 2018 (%)
3.6.    MARKET DYNAMICS

3.6.1.    Drivers

3.6.1.1.    Growth in population along with increase in globalization and rise in purchasing power
3.6.1.2.    Stringent government rules and regulations towards vehicle emission
3.6.1.3.    Increase in the number of golf courses and country clubs

3.6.2.    Restraints

3.6.2.1.    High initial maintenance and purchasing cost
3.6.2.2.    Low power and speed
3.6.2.3.    Low overall drive range

3.6.3.    Opportunities

3.6.3.1.    Technological advancement for golf carts
3.6.3.2.    Reduction in cost of fuel cells and batteries

CHAPTER 4:    GOLF CART MARKET BY PRODUCT TYPE

4.1.    OVERVIEW
4.2.    ELECTRIC GOLF CART

4.2.1.    Key market trends and opportunities
4.2.2.    Market size and forecast by region
4.2.3.    Market analysis by country

4.3.    GASOLINE GOLF CART

4.3.1.    Key market trends and opportunities
4.3.2.    Market size and forecast by region
4.3.3.    Market analysis by country

4.4.    SOLAR GOLF CART

4.4.1.    Key market trends and opportunities
4.4.2.    Market size and forecast by region
4.4.3.    Market analysis by country

CHAPTER 5:    GOLF CART MARKET BY APPLICATION

5.1.    OVERVIEW
5.2.    GOLF COURSE

5.2.1.    Key market trends
5.2.2.    Market size and forecast by region
5.2.3.    Market analysis by country

5.3.    PERSONAL SERVICES

5.3.1.    Key market trends
5.3.2.    Market size and forecast by region
5.3.3.    Market analysis by country

5.4.    COMMERCIAL SERVICES

5.4.1.    Key market trends
5.4.2.    Market size and forecast by region
5.4.3.    Market analysis by country

CHAPTER 6:    GOLF CART MARKET BY REGION

6.1.    OVERVIEW
6.2.    NORTH AMERICA

6.2.1.    Key market trends
6.2.2.    Market size and forecast by Product type
6.2.3.    Market size and forecast by Application
6.2.4.    Market analysis by country

6.2.4.1.    U.S.

6.2.4.1.1.    Market size and forecast, by Product type
6.2.4.1.2.    Market size and forecast, by Application

6.2.4.2.    Canada

6.2.4.2.1.    Market size and forecast, by Product type
6.2.4.2.2.    Market size and forecast, by Application

6.2.4.3.    Mexico

6.2.4.3.1.    Market size and forecast, by Product type
6.2.4.3.2.    Market size and forecast, by Application

6.3.    EUROPE

6.3.1.    Key market trends
6.3.2.    Market size and forecast by Product type
6.3.3.    Market size and forecast by Application
6.3.4.    Market analysis by country

6.3.4.1.    UK

6.3.4.1.1.    Market size and forecast, by Product type
6.3.4.1.2.    Market size and forecast, by Application

6.3.4.2.    Germany

6.3.4.2.1.    Market size and forecast, by Product type
6.3.4.2.2.    Market size and forecast, by Application

6.3.4.3.    France

6.3.4.3.1.    Market size and forecast, by Product type
6.3.4.3.2.    Market size and forecast, by Application

6.3.4.4.    Russia

6.3.4.4.1.    Market size and forecast, by Product type
6.3.4.4.2.    Market size and forecast, by Application

6.3.4.5.    Rest of Europe

6.3.4.5.1.    Market size and forecast, by Product type
6.3.4.5.2.    Market size and forecast, by Application

6.4.    ASIA-PACIFIC

6.4.1.    Key market trends
6.4.2.    Market size and forecast by Product type
6.4.3.    Market size and forecast by Application
6.4.4.    Market analysis by country

6.4.4.1.    China

6.4.4.1.1.    Market size and forecast, by Product type
6.4.4.1.2.    Market size and forecast, by Application

6.4.4.2.    India

6.4.4.2.1.    Market size and forecast, by Product type
6.4.4.2.2.    Market size and forecast, by Application

6.4.4.3.    Japan

6.4.4.3.1.    Market size and forecast, by Product type
6.4.4.3.2.    Market size and forecast, by Application

6.4.4.4.    Australia

6.4.4.4.1.    Market size and forecast, by Product type
6.4.4.4.2.    Market size and forecast, by Application

6.4.4.5.    Rest of Asia-Pacific

6.4.4.5.1.    Market size and forecast, by Product type
6.4.4.5.2.    Market size and forecast, by Application

6.5.    LAMEA

6.5.1.    Key market trends
6.5.2.    Market size and forecast by Product type
6.5.3.    Market size and forecast by Application
6.5.4.    Market analysis by country

6.5.4.1.    Latin America

6.5.4.1.1.    Market size and forecast, by Product type
6.5.4.1.2.    Market size and forecast, by Application

6.5.4.2.    Middle East

6.5.4.2.1.    Market size and forecast, by Product type
6.5.4.2.2.    Market size and forecast, by Application

6.5.4.3.    Africa

6.5.4.3.1.    Market size and forecast, by Product type
6.5.4.3.2.    Market size and forecast, by Application

CHAPTER 7:    COMPANY PROFILES

7.1.    GARIA

7.1.1.    Company overview
7.1.2.    Company snapshot
7.1.3.    Operating business segments
7.1.4.    Key strategic moves and developments

7.2.    HITACHI CHEMICAL CO., LTD

7.2.1.    Company overview
7.2.2.    Company snapshot
7.2.3.    Operating business segments
7.2.4.    Business performance

7.3.    CLUB CAR (INGERSOLL-RAND PLC)

7.3.1.    Company overview
7.3.2.    Company snapshot
7.3.3.    Operating business segments
7.3.4.    Product portfolio
7.3.5.    Business performance
7.3.6.    Key strategic moves and developments

7.4.    STAR EV (JH GLOBAL SERVICES, INC.)

7.4.1.    Company overview
7.4.2.    Product portfolio
7.4.3.    Key strategic moves and developments

7.5.    MAINI MATERIALS MOVEMENT PVT. LTD.

7.5.1.    Company overview
7.5.2.    Company snapshot
7.5.3.    Operating business segments
7.5.4.    Key strategic moves and developments

7.6.    SUZHOU EAGLE ELECTRIC VEHICLE MANUFACTURING CO., LTD.

7.6.1.    Company overview
7.6.2.    Company snapshot
7.6.3.    Operating business segments

7.7.    EZ- GO (TEXTRON INC.)

7.7.1.    Company overview
7.7.2.    Company snapshot
7.7.3.    Operating business segments
7.7.4.    Product portfolio
7.7.5.    Business performance
7.7.6.    Key strategic moves and developments

7.8.    TOMBERLIN

7.8.1.    Company overview
7.8.2.    Company snapshot
7.8.3.    Operating business segments
7.8.4.    Key strategic moves and developments

7.9.    XIAMEN DALLE ELECTRIC CAR CO., LTD.

7.9.1.    Company overview
7.9.2.    Company snapshot
7.9.3.    Operating business segments
7.9.4.    Product portfolio

7.10.    YAMAHA GOLF-CAR COMPANY

7.10.1.    Company overview
7.10.2.    Company snapshot
7.10.3.    Operating business segments
7.10.4.    Product portfolio
7.10.5.    Business performance
7.10.6.    Key strategic moves and developments

LIST OF TABLES

TABLE 01.    VENDORS SHARE ANALYSIS BY APPLICATION, 2018 (%)
TABLE 02.    GLOBAL GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 03.    GLOBAL ELECTRIC GOLF CART MARKET REVENUE, BY REGION, 2018–2026 ($MILLION)
TABLE 04.    GLOBAL GASOLINE GOLF CART MARKET REVENUE, BY REGION, 2018–2026 ($MILLION)
TABLE 05.    GLOBAL SOLAR GOLF CART MARKET REVENUE, BY REGION, 2018–2026 ($MILLION)
TABLE 06.    GLOBAL GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 07.    GLOBAL GOLF CART MARKET REVENUE FOR GOLF COURSE, BY REGION, 2018–2026 ($MILLION)
TABLE 08.    GLOBAL GOLF CART MARKET REVENUE FOR PERSONAL SERVICES, BY REGION, 2018–2026 ($MILLION)
TABLE 09.    GLOBAL GOLF CART MARKET REVENUE FOR COMMERCIAL SERVICES, BY REGION, 2018–2026 ($MILLION)
TABLE 10.    GLOBAL GOLF CART MARKET REVENUE, BY REGION, 2018–2026 ($MILLION)
TABLE 11.    NORTH AMERICA GOLF CART MARKET REVENUE FOR PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 12.    NORTH AMERICA GOLF CART MARKET REVENUE FOR APPLICATION, 2018–2026 ($MILLION)
TABLE 13.    NORTH AMERICA GOLF CART MARKET REVENUE, BY COUNTRY 2018–2026 ($MILLION)
TABLE 14.    U.S. GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 15.    U.S. GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 16.    CANADA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 17.    CANADA GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 18.    MEXICO GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 19.    MEXICO GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 20.    EUROPE GOLF CART MARKET REVENUE FOR PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 21.    EUROPE GOLF CART MARKET REVENUE FOR APPLICATION, 2018–2026 ($MILLION)
TABLE 22.    EUROPE GOLF CART MARKET REVENUE, BY COUNTRY 2018–2026 ($MILLION)
TABLE 23.    UK GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 24.    UK GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 25.    GERMANY GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 26.    GERMANY GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 27.    FRANCE GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 28.    FRANCE GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 29.    RUSSIA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 30.    RUSSIA GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 31.    REST OF EUROPE GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 32.    REST OF EUROPE GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 33.    ASIA-PACIFIC GOLF CART MARKET REVENUE FOR PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 34.    ASIA-PACIFIC GOLF CART MARKET REVENUE FOR APPLICATION, 2018–2026 ($MILLION)
TABLE 35.    ASIA-PACIFIC GOLF CART MARKET REVENUE, BY COUNTRY 2018–2026 ($MILLION)
TABLE 36.    CHINA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 37.    CHINA GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 38.    INDIA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 39.    INDIA GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 40.    JAPAN GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 41.    JAPAN GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 42.    AUSTRALIA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 43.    AUSTRALIA GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 44.    REST OF ASIA-PACIFIC GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
TABLE 45.    REST OF ASIA-PACIFIC GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 46.    REST OF ASIA-PACIFIC GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 47.    LAMEA GOLF CART MARKET REVENUE FOR PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 48.    LAMEA GOLF CART MARKET REVENUE FOR APPLICATION, 2018–2026 ($MILLION)
TABLE 49.    LAMEA GOLF CART MARKET REVENUE, BY COUNTRY 2018–2026 ($MILLION)
TABLE 50.    LATIN AMERICA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 51.    LATIN AMERICA GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 52.    MIDDLE EAST GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 53.    MIDDLE EAST GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 54.    AFRICA GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
TABLE 55.    AFRICA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 56.    AFRICA GOLF CART MARKET REVENUE, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 57.    GARIA : COMPANY SNAPSHOT
TABLE 58.    GARIA : OPERATING SEGMENTS
TABLE 59.    HITACHI CHEMICAL CO., LTD : COMPANY SNAPSHOT
TABLE 60.    HITACHI CHEMICAL CO., LTD: OPERATING SEGMENTS
TABLE 61.    CLUB CAR: COMPANY SNAPSHOT
TABLE 62.    CLUB CAR: OPERATING SEGMENTS
TABLE 63.    CLUB CAR (INGERSOLL-RAND PLC,): PRODUCT PORTFOLIO
TABLE 64.    CLUB CAR(INGERSOLL-RAND PLC,): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 65.    JH GLOBAL SERVICES, INC.: PRODUCT PORTFOLIO
TABLE 66.    START EV : KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 67.    MAINI MATERIALS MOVEMENT PVT. LTD.: COMPANY SNAPSHOT
TABLE 68.    MAINI BUGGY.: PRODUCT CATEGORY
TABLE 69.    SUZHOU EAGLE ELECTRIC VEHICLE MANUFACTURING CO., LTD.: COMPANY SNAPSHOT
TABLE 70.    SUZHOU EAGLE ELECTRIC VEHICLE MANUFACTURING CO., LTD.: OPERATING SEGMENTS
TABLE 71.    EZ- GO.: COMPANY SNAPSHOT
TABLE 72.    TEXTRON INC.: OPERATING SEGMENTS
TABLE 73.    TEXTRON: PRODUCT PORTFOLIO
TABLE 74.    TEXTRON INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 75.    TOMBERLIN : COMPANY SNAPSHOT
TABLE 76.    TOMBERLIN: OPERATING PRODUCT CATEGORY
TABLE 77.    XIAMEN DALLE ELECTRIC CAR CO., LTD.: COMPANY SNAPSHOT
TABLE 78.    XIAMEN DALLE ELECTRIC CAR CO., LTD: OPERATING SEGMENTS
TABLE 79.    XIAMEN DALLE ELECTRIC CAR CO., LTD: PRODUCT PORTFOLIO
TABLE 80.    YAMAHA GOLF CAR COMPANY: COMPANY SNAPSHOT
TABLE 81.    YAMAHA GOLF CAR COMPANY: OPERATING SEGMENTS
TABLE 82.    YAMAHA GOLF CAR COMPANY: PRODUCT PORTFOLIO
TABLE 83.    YAMAHA GOLF CAR COMPANY: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 01.    GLOBAL GOLF CART MARKET, 2018–2026
FIGURE 02.    GLOBAL GOLF CART MARKET, BY REGION, 2018–2026
FIGURE 03.    TOP INVESTMENT POCKETS: GOLF CART MARKET
FIGURE 04.    TOP WINNING STRATEGIES, BY YEAR, 2015-2019
FIGURE 05.    TOP WINNING STRATEGIES, BY DEVELOPMENT, 2015-2019
FIGURE 06.    TOP WINNING STRATEGIES, BY COMPANY, 2015-2019
FIGURE 07.    MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 08.    MODERATE BARGAINING POWER OF BUYERS
FIGURE 09.    MODERATE-TO-HIGH OF NEW ENTRANTS
FIGURE 10.    MODERATE OF SUBSTITUTES
FIGURE 11.    MODERATE COMPETITIVE RIVALARY
FIGURE 12.    MARKET SHARE ANALYSIS: GOLF CART MARKET, 2018 (%)
FIGURE 13.    VENDOR SHARE ANALYSIS BY APPLICATION, 2018 (%)
FIGURE 14.    GLOBAL GOLF CART MARKET, BY PRODUCT TYPE, 2018-2026
FIGURE 15.    COMPARATIVE ANALYSIS OF ELECTRIC GOLF CART MARKET BY COUNTRY, 2018 & 2026 (%)
FIGURE 16.    COMPARATIVE ANALYSIS OF GASOLINE GOLF CART MARKET BY COUNTRY, 2018 & 2026 (%)
FIGURE 17.    COMPARATIVE ANALYSIS OF SOLAR GOLF CART MARKET BY COUNTRY, 2018 & 2026 (%)
FIGURE 18.    GLOBAL GOLF CART MARKET, BY APPLICATION, 2018-2026
FIGURE 19.    COMPARATIVE ANALYSIS OF GOLF COURSE MARKET BY COUNTRY, 2018 & 2026 (%)
FIGURE 20.    COMPARATIVE ANALYSIS OF PERSONAL SERVICES MARKET BY COUNTRY, 2018 & 2026 (%)
FIGURE 21.    COMPARATIVE ANALYSIS OF COMMERCIAL SERVICES MARKET BY COUNTRY, 2018 & 2026 (%)
FIGURE 22.    GLOBAL GOLF CART MARKET, BY REGION, 2018-2026
FIGURE 23.    COMPARATIVE SHARE ANALYSIS OF GOLF CART VEHICLE MARKET, BY COUNTRY, 2018–2026 (%)
FIGURE 24.    U.S. GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 25.    CANADA GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 26.    MEXICO GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 27.    COMPARATIVE SHARE ANALYSIS OF GOLF CART VEHICLE MARKET, BY COUNTRY, 2018–2026 (%)
FIGURE 28.    UK GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 29.    GERMANY GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 30.    FRANCE GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 31.    RUSSIA GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 32.    REST OF EUROPE GOLF CARTMARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 33.    COMPARATIVE SHARE ANALYSIS OF GOLF CART VEHICLE MARKET, BY COUNTRY, 2018–2026 (%)
FIGURE 34.    CHINA GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 35.    INDIA GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 36.    JAPAN GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 37.    AUSTRALIA GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 38.    COMPARATIVE SHARE ANALYSIS OF GOLF CART VEHICLE MARKET, BY COUNTRY, 2018–2026 (%)
FIGURE 39.    LATIN AMERICA GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 40.    MIDDLE EAST GOLF CART MARKET REVENUE, 2018–2026 ($MILLION)
FIGURE 41.    HITACHI CHEMICAL CO., LTD: REVENUE, 2016–2018 ($MILLION)
FIGURE 42.    HITACHI CHEMICAL CO., LTD: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 43.    HITACHI CHEMICAL CO., LTD.: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 44.    INGERSOLL-RAND PLC,: REVENUE, 2016–2018 ($MILLION)
FIGURE 45.    INGERSOLL-RAND PLC.: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 46.    INGERSOLL-RAND PLC.: REVENUE SHARE BY GEOGRAPHY, 2018 (%)
FIGURE 47.    TEXTRON INC.: REVENUE, 2016–2018 ($MILLION)
FIGURE 48.    TEXTRON INC.: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 49.    TEXTRON INC.: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 50.    YAMAHA MOTOR CO., LTD.: REVENUE, 2015–2017 ($MILLION)
FIGURE 51.    YAMAHA MOTOR CO., LTD.: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 52.    YAMAHA MOTOR CO., LTD.: REVENUE SHARE BY REGION, 2017 (%)

 
 

In accordance with the insights by the CXOs of leading companies, the global golf cart market is projected to witness considerable growth, especially in Asia-Pacific and LAMEA, owing to growth in population along with increase in globalization and rise in purchasing power.

The market is expected to witness a steady growth due to stringent vehicle emission norms and an increase in the demand for fuel-efficient & low-emission vehicles. The market in the developed countries, such as the U.S., Canada, Mexico, and Germany, is projected to report a faster growth rate as compared to the developing regions, such as Asia-Pacific, Europe, and the Middle East, owing to the rapid industrialization and high sales of vehicles in the developed region.

Automobile companies focus on the production of advanced and low-maintenance electric vehicles, which have low particulate emission. For instance, Marshell Company started offering golf course low speed electric vehicle product named Tomberlin and DG-LSV2. In addition, China’s leading low speed golf cart vehicle manufacturing company Xinxiang Hezon Xinhui Vehicle Co., Ltd started producing a K & S series and H6 mini electric vehicle in each vehicle type variant. In addition, India aims to produce downsize engines, which cater to the Bharat Stage VI emission norms, as they discharge less pollutants as compared to larger engines. Moreover, the market players are continuously offering innovative solar golf cart solutions which have low maintenance cost to increase their sales and penetrate the overall golf cart market. However, new players are also keen to enter the golf cart industry.  For instance, Lamborghini  have partnered with the Pune-based Kinetic group company, Kinetic Green, for the production of the solar & electric golf carts. 

Solar golf cart is expected to depict the fastest growth in the global golf cart market during the forecast period (2019-2026). Stringent government rules and regulations towards vehicle emission and rise in investment on building golf cart across the globe, drive its demand in the market. From growth perspective, Asia-Pacific is expected to witness considerable increase in growth rates during the forecast period.

 

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FREQUENTLY ASKED QUESTIONS?
Golf Cart Market

 

A. The global golf cart market was valued at $1,618.50 million in 2018, and is projected to reach $2,252.50 million by 2026, registering a CAGR of 4.2% from 2019 to 2026

A. The forecast period in theGolf Cart Market would be 2026

A. The market value of Golf Cart Market in 2019 is estimated to be $ 1,693.9 Million

A. The base year calculated in the Golf Cart Market report is 2018

A. The companies are selected based on the product offerings, organic and inorganic strategies adopted and Georgraphic footprint. Additional, the company tie ups with key OEMs and revenue generated are the key pointers for selection.

A. The major companies holding the major share includes Garia Inc., Hitachi Chemical Co. Ltd, Ingersoll Rand plc, JH Global Services, Inc., Maini Materials Movement Pvt. Ltd., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Textron Specialized Vehicles Inc., Tomberlin, Xiamen Dalle Electric Car Co. Ltd., and Yamaha Golf Car Company

A. In terms of electric golf cart is estimated to be a matured market growing at a CAGR of 4.3% during the forecast period.

A. In terms of application personal services is estimated to be a most influencing segment growing at a CAGR of 5.7% during the forecast period.

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