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2021
Golf Cart Market

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, 2021–2028

A01769
Pages: 201
Jun 2021 | 25430 Views
   
Author(s) : Prateek Yadav , Sonia Mutreja
Tables: 93
Charts: 58
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Golf Cart Market Statistics 2028 -

The golf cart market was valued at $1.34 billion in 2020, and is projected to reach $1.79 billion by 2028, registering a CAGR of 3.9% from 2021 to 2028 

The COVID-19 outbreak severely impacted the golf cart industry on a global level. The rapid spread of COVID-19 in the North America, Europe, and Asian economies resulted in nationwide lockdowns and a temporary halt of production facilities to prevent further spread. Furthermore, the golf courses were being forced to remain closed due to lockdown and social distancing measures, resulting in a sharp drop in the number of rounds played at the beginning of 2020 which resulted in the declining sales of golf carts on a global level. However, the ease of customizability and use of golf carts as slow speed vehicle is foreseen to reinforce the demand of golf carts during the forecast duration.

Golf cart is a type of low-speed vehicle driven by electric motors, which is gas-powered and is specifically envisioned for utilization in golf courses for transportation of golfers and 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. 

Global-Golf-Cart-Market

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Amid COVID-19 pandemic, golf courses were being forced to remain closed due to lockdown and social distancing measures, resulting in sharp drop in number of rounds played at the beginning of 2020, which resulted in decline in sales of golf carts. Furthermore, there is considerable ambiguity surrounding the near future of the game, as there are still some chances of reemergence of COVID-19 across several nations. However, with isolation restrictions and closures easing gradually, golf courses appear as ideal socially distant space for recreation. This, in turn, is expected to lead to a notable surge in interest for the game. In addition, the COVID-19 outbreak severely impacted the automotive sector on a global level, which led to considerable decline in vehicle sales and inconsistency of raw material. 
 

Increase in urbanization & industrialization; shift toward mall culture; hi-tech & smart residential and commercial housing projects; and rise in utilization of golf cart vehicles in hotels, hospitality, tourism industries, and amusement parks are anticipated to boost growth of the golf cart market globally. Use of golf cart for short trips in educational institutions, such as colleges & universities and in airports are expected to further propel demand for golf carts between 2021 and 2028.

The global golf cart market is segmented on the basis of product type and application. By product type, the market has been categorized into electric golf cart, gasoline golf cart, and solar golf cart. On the basis of application, it is categorized into golf course, personal services, and commercial services. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

The key players analyzed in the golf cart market include Garia Inc., Platinum Equity Aadvisors, LLC (Club Car), Textron Inc. (E‑Z‑GO), Yamaha Motor Co., Ltd., Showa Denko (Hitachi Chemicals), Maini Group, Nordic Group of Companies, Ltd., Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd, and Xiamen Dalle New Energy automobile Co., Ltd.

Golf Cart Market
By Product Type

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Solar Golf Carts is projected as the most lucrative segment

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Increase in number of golf courses and country clubs

In America, U.S has the maximum number of golf courses, which counts around 15,332 followed by other countries such as Canada with 2,363 golf courses, Mexico with around 200, Brazil with 75, and Argentina with 319. The golf industry across the U.S. includes nearly 2 million jobs and golf game also contributes more to charity than any other major sports industry. More than one-third that is 36% of the U.S. population, which is over 107 million, have either played, watched, or read about golf in 2018. In 2020, the U.S.NGF (National Golf Foundation) witnessed ~24.8 million golfers in the U.S., representing a rise of nearly 2% or 500,000 compared to 2019, the largest net increase recorded in 17 years. Increase in number of golf courses is supported by rise in number of people, who have inclined interest toward golf. This directly boosts growth in demand for golf carts. In addition, there is an increase, though at a slower rate of around 15, in the number of country clubs and golf courses in the U.S. Further, increase in disposable income leads to rise in expenditure of recreational time and discretionary income of the population. All these factors collectively boost growth of the golf cart market.

Golf Cart Market
By Application

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Personal Services is projected as the most lucrative segment

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

There has been an increase in the global population and presently, global population in 2020 crossed 7.8 billion. Every year, the global population grows approximately by 43 million. This boom in population creates many opportunities for many businesses and this is also true for the global golf cart market. This is attributed to rise in 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 outlook of different regions. Globalization has helped people to vouch for a different and better lifestyle, it has encouraged people to spend more and get best service possible. This drives growth of the global golf cart market.

Golf Cart Market
By Region

2028
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 5.8% during 2021-2028.

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Key Benefits For Stakeholders

  • This study presents analytical depiction of the golf cart market analysis along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities of the market with a detailed impact analysis.
  • The current golf cart market size is quantitatively analyzed from 2020 to 2028 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the golf cart industry.

Key Market Segment

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 PLAYERS

  • Garia Inc.
  • Platinum Equity Aadvisors, LLC (Club Car)
  • Textron Inc. (E‑Z‑GO)
  • Yamaha Motor Co., Ltd.
  • Showa Denko (Hitachi Chemicals)
  • Maini Group
  • Nordic Group of Companies, Ltd.
  • Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd 
  • Xiamen Dalle New Energy automobile Co., Ltd. 
  • Atul Auto Limited

Key Market Segments

  • By Application
    • Golf Course
    • Personal Services
    • Commercial Services
  • By Product Type
    • Electric Golf Cart
    • Gasoline Golf Cart
    • Solar Golf Cart
  • 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
  • JH GLOBAL SERVICES, INC
  • MAINI GROUP
  • NORDIC GROUP OF COMPANIES, LTD
  • PLATINUM EQUITY AADVISORS, LLC
  • SHOWA DENKO K.K.
  • SUZHOU EAGLE ELECTRIC VEHICLE MANUFACTURING CO., LTD
  • TEXTRON INC
  • XIAMEN DALLE AUTOMOTIVE CO., LTD.
  • YAMAHA MOTOR CO., LTD
 

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.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and 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 (2020)
3.5.Vendor share analysis by application, 2020 (%)
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
3.6.1.1.Stringent government rules and regulations towards vehicle emission
3.6.1.2.Increase in the number of golf courses and country clubs
3.6.1.3.Growing inclination towards solar powered golf carts

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

3.7.Impact of COVID-19 on the market

3.7.1.Evolution of outbreaks

3.7.1.1.SARS
3.7.1.2.COVID-19

 

3.7.2.Micro-economic impact analysis

3.7.2.1.Consumer trend
3.7.2.2.Technology trends
3.7.2.3.Regulatory trend

3.7.3.Impact on the Golf Cart industry analysis

CHAPTER 4:GLOBAL GOLF CART MARKET, PRODUCT TYPE

4.1.Overview
4.2.Electric Golf Cart

4.2.1.Key market trends, growth factors, 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, growth factors, 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, growth factors, and opportunities
4.4.2.Market size and forecast, by region
4.4.3.Market analysis, by country

CHAPTER 5:GLOBAL GOLF CART MARKET, BY APPLICATION

5.1.Overview
5.2.Golf Course

5.2.1.Key market trends, growth factors, and opportunities
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, growth factors, and opportunities
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, growth factors, and opportunities
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, growth factors, and opportunities
6.2.2.Market size and forecast, by Product Type
6.2.3.Market size and forecast, by Application
6.2.4.Market size and forecast, by country

6.2.4.1.U.S.

6.2.4.1.2.Market size and forecast, by Product Type
6.2.4.1.3.Market size and forecast, by Application

6.2.4.2.Canada

6.2.4.2.2.Market size and forecast, by Product Type
6.2.4.2.3.Market size and forecast, by Application

6.2.4.3.Mexico

6.2.4.3.2.Market size and forecast, by Product Type
6.2.4.3.3.Market size and forecast, by Application

6.3.Europe

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by Product Type
6.3.3.Market size and forecast, by Application
6.3.4.Market size and forecast, by country

6.3.4.1.UK

6.3.4.1.2.Market size and forecast, by Product Type
6.3.4.1.3.Market size and forecast, by Application

6.3.4.2.Germany

6.3.4.2.2.Market size and forecast, by Product Type
6.3.4.2.3.Market size and forecast, by Application

6.3.4.3.France

6.3.4.3.2.Market size and forecast, by Product Type
6.3.4.3.3.Market size and forecast, by Application

6.3.4.4.Russia

6.3.4.4.2.Market size and forecast, by Product Type
6.3.4.4.3.Market size and forecast, by Application

6.3.4.5.Rest of Europe

6.3.4.5.2.Market size and forecast, by Product Type
6.3.4.5.3.Market size and forecast, by Application

6.4.Asia-Pacific

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by Product Type
6.4.3.Market size and forecast, by Application
6.4.4.Market size and forecast, by country

6.4.4.1.China

6.4.4.1.2.Market size and forecast, by Product Type
6.4.4.1.3.Market size and forecast, by Application

6.4.4.2.India

6.4.4.2.2.Market size and forecast, by Product Type
6.4.4.2.3.Market size and forecast, by Application

6.4.4.3.Japan

6.4.4.3.2.Market size and forecast, by Product Type
6.4.4.3.3.Market size and forecast, by Application

6.4.4.4.Australia

6.4.4.4.2.Market size and forecast, by Product Type
6.4.4.4.3.Market size and forecast, by Application

6.4.4.5.Rest of Asia-Pacific

6.4.4.5.2.Market size and forecast, by Product Type
6.4.4.5.3.Market size and forecast, by Application

6.5.LAMEA

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by Product Type
6.5.3.Market size and forecast, by Application
6.5.4.Market size and forecast, by country

6.5.4.1.Latin America

6.5.4.1.2.Market size and forecast, by Product Type
6.5.4.1.3.Market size and forecast, by Application

6.5.4.2.Middle East

6.5.4.2.2.Market size and forecast, by Product Type
6.5.4.2.3.Market size and forecast, by Application

6.5.4.3.Africa

6.5.4.3.2.Market size and forecast, by Product Type
6.5.4.3.3.Market size and forecast, by Application

CHAPTER 7:COMPANY PROFILES

7.1.GARIA

7.1.1.Company overview
7.1.2.Key executives
7.1.3.Company snapshot
7.1.4.Product portfolio
7.1.5.Key strategic moves and developments

7.2.JH GLOBAL SERVICES, INC.

7.2.1.Company overview
7.2.2.Key executives
7.2.3.Company snapshot
7.2.4.Product portfolio

7.3.MAINI GROUP

7.3.1.Company overview
7.3.2.Key executives
7.3.3.Company snapshot
7.3.4.Product portfolio
7.3.5.Key strategic moves and developments

7.4.NORDIC GROUP OF COMPANIES, LTD.

7.4.1.Company overview
7.4.2.Key executives
7.4.3.Company snapshot
7.4.4.Product portfolio
7.4.5.Key strategic moves and developments

7.5.PLATINUM EQUITY AADVISORS, LLC

7.5.1.Company overview
7.5.2.Key executives
7.5.3.Company snapshot
7.5.4.Product portfolio
7.5.5.Key strategic moves and developments

7.6.SHOWA DENKO K.K.

7.6.1.Company overview
7.6.2.Key executives
7.6.3.Company snapshot
7.6.4.Operating business segments
7.6.5.Product portfolio
7.6.6.R&D expenditure
7.6.7.Business performance
7.6.8.Key strategic moves and developments

7.7.SUZHOU EAGLE ELECTRIC VEHICLE MANUFACTURING CO., LTD

7.7.1.Company overview
7.7.2.Key executives
7.7.3.Company snapshot
7.7.5.Product portfolio

7.8.TEXTRON INC.

7.8.1.Company overview
7.8.2.Key executives
7.8.3.Company snapshot
7.8.4.Operating business segments
7.8.5.Product portfolio
7.8.6.R&D expenditure
7.8.7.Business performance
7.8.8.Key strategic moves and developments

7.9.XIAMEN DALLE AUTOMOTIVE CO., LTD.

7.9.1.Company overview
7.9.2.Key executives
7.9.3.Company snapshot
7.9.4.Product portfolio

7.10.YAMAHA MOTOR CO., LTD.

7.10.1.Company overview
7.10.2.Key executives
7.10.3.Company snapshot
7.10.4.Operating business segments
7.10.5.Product portfolio
7.10.6.R&D expenditure
7.10.7.Business performance
7.10.8.Key strategic moves and developments

LIST OF TABLES

TABLE 01.VENDORS SHARE ANALYSIS BY APPLICATION, 2020 (%)
TABLE 02.GOLF CART MARKET, BY PRODUCT TYPE, 2020-2028 ($MILLION)
TABLE 03.GOLF CART MARKET FOR ELECTRIC GOLF CART, BY REGION 2020-2028 ($MILLION)
TABLE 04.GOLF CART MARKET FOR GASOLINE GOLF CART, BY REGION 2020-2028 ($MILLION)
TABLE 05.GOLF CART MARKET FOR ELECTRIC GOLF CART, BY REGION 2020-2028 ($MILLION)
TABLE 06.GOLF CART MARKET, BY APPLICATION, 2020-2028 ($MILLION)
TABLE 07.GOLF CART MARKET FOR GOLF COURSE, BY REGION 2020-2028 ($MILLION)
TABLE 08.GOLF CART MARKET FOR PERSONAL SERVICES, BY REGION 2020-2028 ($MILLION)
TABLE 09.GOLF CART MARKET FOR COMMERCIAL SERVICES, BY REGION 2020-2028 ($MILLION)
TABLE 10.GOLF CART MARKET, BY REGION 2020–2028 ($MILLION)
TABLE 11.NORTH AMERICA GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 12.NORTH AMERICA GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 13.U.S. GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 14.U.S. GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 15.CANADA GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 16.CANADA GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 17.MEXICO GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 18.MEXICO GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 19.EUROPE GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 20.EUROPE GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 21.UK GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 22.UK GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 23.GERMANY GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 24.GERMANY GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 25.FRANCE GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 26.FRANCE GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 27.RUSSIA GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 28.RUSSIA GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 29.REST OF EUROPE GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 30.REST OF EUROPE GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 31.ASIA-PACIFIC GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 32.ASIA-PACIFIC GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 33.CHINA GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 34.CHINA GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 35.INDIA GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 36.INDIA GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 37.JAPAN GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 38.JAPAN GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 39.AUSTRALIA GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 40.AUSTRALIA GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 41.REST OF ASIA-PACIFIC GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 42.REST OF ASIA-PACIFIC GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 43.LAMEA GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 44.LAMEA GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 45.LATIN AMERICA GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 46.LATIN AMERICA GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 47.MIDDLE EAST GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 48.MIDDLE EAST GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 49.AFRICA GOLF CART MARKET, BY PRODUCT TYPE, 2020–2028 ($MILLION)
TABLE 50.AFRICA GOLF CART MARKET, BY APPLICATION, 2020–2028 ($MILLION)
TABLE 51.GARIA: KEY EXECUTIVES
TABLE 52.GARIA: COMPANY SNAPSHOT
TABLE 53.GARIA: PRODUCT PORTFOLIO
TABLE 54.JH GLOBAL SERVICES, INC.: KEY EXECUTIVES
TABLE 55.JH GLOBAL SERVICES, INC.: COMPANY SNAPSHOT
TABLE 56.JH GLOBAL SERVICES, INC.: PRODUCT PORTFOLIO
TABLE 57.MAINI GROUP: KEY EXECUTIVES
TABLE 58.MAINI GROUP: COMPANY SNAPSHOT
TABLE 59.MAINI GROUP: PRODUCT PORTFOLIO
TABLE 60.NORDIC GROUP OF COMPANIES, LTD.: KEY EXECUTIVES
TABLE 61.NORDIC GROUP OF COMPANIES, LTD.: COMPANY SNAPSHOT
TABLE 62.NORDIC GROUP OF COMPANIES, LTD.: PRODUCT PORTFOLIO
TABLE 63.NORDIC GROUP OF COMPANIES, LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 64.PLATINUM EQUITY AADVISORS, LLC: KEY EXECUTIVES
TABLE 65.PLATINUM EQUITY AADVISORS, LLC: COMPANY SNAPSHOT
TABLE 66.PLATINUM EQUITY AADVISORS, LLC: PRODUCT PORTFOLIO
TABLE 67.PLATINUM EQUITY AADVISORS, LLC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 68.SHOWA DENKO K.K.: KEY EXECUTIVES
TABLE 69.SHOWA DENKO K.K.: COMPANY SNAPSHOT
TABLE 70.SHOWA DENKO K.K.: OPERATING SEGMENTS
TABLE 71.SHOWA DENKO K.K.: PRODUCT PORTFOLIO
TABLE 72.SHOWA DENKO K.K.: R&D EXPENDITURE, 2018–2020 ($MILLION)
TABLE 73.SHOWA DENKO K.K.: NET SALES, 2018–2020 ($MILLION)
TABLE 74.SUZUHOU EAGLE ELECTRIC VEHICLE MANUFACTURING CO., LTD: KEY EXECUTIVES
TABLE 75.SUZUHOU EAGLE ELECTRIC VEHICLE MANUFACTURING CO., LTD: COMPANY SNAPSHOT
TABLE 76.SUZUHOU EAGLE ELECTRIC VEHICLE MANUFACTURING CO., LTD: PRODUCT PORTFOLIO
TABLE 77.TEXTRON INC.: KEY EXECUTIVES
TABLE 78.TEXTRON INC.: COMPANY SNAPSHOT
TABLE 79.TEXTRON INC.: OPERATING SEGMENTS
TABLE 80.TEXTRON INC.: PRODUCT PORTFOLIO
TABLE 81.TEXTRON INC.: R&D EXPENDITURE, 2018–2020 ($MILLION)
TABLE 82.TEXTRON INC.: NET SALES, 2018–2020 ($MILLION)
TABLE 83.TEXTRON INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 84.XIAMEN DALLE NEW ENERGY AUTOMOBILE CO., LTD.: KEY EXECUTIVE
TABLE 85.XIAMEN DALLE NEW ENERGY AUTOMOBILE CO., LTD.: COMPANY SNAPSHOT
TABLE 86.XIAMEN DALLE NEW ENERGY AUTOMOBILE CO., LTD.: PRODUCT PORTFOLIO
TABLE 87.YAMAHA MOTOR CO., LTD.: KEY EXECUTIVES
TABLE 88.YAMAHA MOTOR CO., LTD.: COMPANY SNAPSHOT
TABLE 89.YAMAHA MOTOR CO., LTD.: OPERATING SEGMENTS
TABLE 90.YAMAHA MOTOR CO., LTD.: PRODUCT PORTFOLIO
TABLE 91.YAMAHA MOTOR CO., LTD.: R&D EXPENDITURE, 2018–2020 ($MILLION)
TABLE 92.YAMAHA MOTOR CO., LTD.: NET SALES, 2018–2020 ($MILLION)
TABLE 93.YAMAHA MOTOR CO., LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EXECUTIVE SUMMARY, BY SEGMENT
FIGURE 03.EXECUTIVE SUMMARY, BY COUNTRY
FIGURE 04.TOP IMPACTING FACTORS
FIGURE 05.TOP INVESTMENT POCKETS
FIGURE 06.TOP WINNING STRATEGIES, BY YEAR, 2018–2021*
FIGURE 07.TOP WINNING STRATEGIES, BY YEAR, 2018–2021*
FIGURE 08.TOP WINNING STRATEGIES, BY COMPANY, 2018–2021*
FIGURE 09.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 10.MODERATE BARGAINING POWER OF BUYERS
FIGURE 11.MODERATE-TO-HIGH OF NEW ENTRANTS
FIGURE 12.MODERATE OF SUBSTITUTES
FIGURE 13.MODERATE COMPETITIVE RIVALARY
FIGURE 14.MARKET SHARE ANALYSIS (2020)
FIGURE 15.VENDOR SHARE ANALYSIS BY APPLICATION, 2020 (%)
FIGURE 16.MACRO-ECONOMIC INDICATORS PROJECTIONS (1/2):
FIGURE 17.MACRO-ECONOMIC INDICATORS PROJECTIONS (2/2):
FIGURE 18.GOLF CART MARKET SHARE, BY PRODUCT TYPE, 2020–2028 (%)
FIGURE 19.COMPARATIVE SHARE ANALYSIS OF GOLF CART MARKET FOR ELECTRIC GOLF CART, BY COUNTRY, 2020 & 2028(%)
FIGURE 20.COMPARATIVE SHARE ANALYSIS OF GOLF CART MARKET FOR GASOLINE GOLF CART, BY COUNTRY, 2020 & 2028(%)
FIGURE 21.COMPARATIVE SHARE ANALYSIS OF GOLF CART MARKET FOR ELECTRIC, BY COUNTRY, 2020 & 2028(%)
FIGURE 22.GOLF CART MARKET SHARE, BY APPLICATION, 2020–2028 (%)
FIGURE 23.COMPARATIVE SHARE ANALYSIS OF GOLF CART MARKET FOR GOLF COURSE, BY COUNTRY, 2020 & 2028(%)
FIGURE 24.COMPARATIVE SHARE ANALYSIS OF GOLF CART MARKET FOR PERSONAL SERVICES, BY COUNTRY, 2020 & 2028(%)
FIGURE 25.COMPARATIVE SHARE ANALYSIS OF GOLF CART MARKET FOR PERSONAL SERVICES, BY COUNTRY, 2020 & 2028(%)
FIGURE 26.GOLF CART MARKET, BY REGION, 2021-2028 (%)
FIGURE 27.COMPARATIVE SHARE ANALYSIS OF GOLF CART MARKET, BY COUNTRY, 2020–2028 (%)
FIGURE 28.U.S. GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 29.CANADA GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 30.MEXICO GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 31.COMPARATIVE SHARE ANALYSIS OF GOLF CART MARKET, BY COUNTRY, 2020–2028 (%)
FIGURE 32.UK GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 33.GERMANY GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 34.FRANCE GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 35.RUSSIA GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 36.REST OF EUROPE GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 37.COMPARATIVE SHARE ANALYSIS OF GOLF CART MARKET, BY COUNTRY, 2020–2028 (%)
FIGURE 38.CHINA GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 39.INDIA GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 40.JAPAN GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 41.AUSTRALIA GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 42.REST OF ASIA-PACIFIC GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 43.COMPARATIVE SHARE ANALYSIS OF GOLF CART MARKET, BY COUNTRY, 2020–2028 (%)
FIGURE 44.LATIN AMERICA GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 45.MIDDLE EAST GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 46.AFRICA GOLF CART MARKET, 2020–2028 ($MILLION)
FIGURE 47.SHOWA DENKO K.K.: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 48.SHOWA DENKO K.K.: NET SALES, 2018–2020 ($MILLION)
FIGURE 49.SHOWA DENKO K.K.: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 50.SHOWA DENKO K.K.: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 51.TEXTRON INC.: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 52.TEXTRON INC.: NET SALES, 2018–2020 ($MILLION)
FIGURE 53.TEXTRON INC.: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 54.TEXTRON INC.: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 55.YAMAHA MOTOR CO., LTD.: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 56.YAMAHA MOTOR CO., LTD.: NET SALES, 2018–2020 ($MILLION)
FIGURE 57.YAMAHA MOTOR CO., LTD.: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 58.YAMAHA MOTOR CO., LTD.: REVENUE SHARE BY REGION, 2020 (%)

 
 

In accordance with the insights by CXOs of leading companies, the global golf cart market is projected to witness considerable growth, especially in North America and Europe, owing to adoption of advanced technology 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 increase in demand for fuel-efficient & low-emission vehicles. The market in developed countries, such as the U.S., Canada, Mexico, and Germany, is projected to report a faster growth rate as compared to developing regions, such as Asia-Pacific and the Middle East, owing to rapid industrialization and high sales of vehicles in developed regions.

Automobile companies focus on 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. Presence of fuel guzzlers in countries such as Germany, the UK, and France, where Europe has marked presence of golf cart in the automotive industry by producing efficient vehicles, further enhances growth of the golf cart vehicle industry.

Solar golf cart is expected to witness fastest growth in the global golf cart market during the forecast period. Stringent government rules and regulations toward 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?
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A. The global golf cart market was valued at $1.35 billion in 2020, and is projected to reach $1.79 billion by 2028, registering a CAGR of 3.9% from 2021 to 2028

A. Amid COVID-19 pandemic, courses were being forced to remain closed due to lockdown and social distancing measures, resulting in a sharp drop in the number of rounds played at the beginning of 2020 which resulted in the declining sales of golf carts. However, as soon as the lockdown lifts and production resumes, golf cart market is foreseen to gain traction again

A. The sample for global golf cart market report can be obtained on demand from the AMR website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.

A. There are certain upcoming trends golf cart market such as Increasing demand for solar golf carts. Furthermore, By considering the social distancing, companies are focusing on selling single-rider golf carts as well

A. The key growth strategies adopted by the golf cart industry players includes product launch, business expansion, collaboration. These strategies opted by various industry players is leading to the growth of the golf cart market as well as the players.

A. The company profiles of the top market players of golf cart market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the golf cart market.

A. North America region is leading the market presently in terms of revenue. However, Asia-Pacific region is expected to provide more business opportunities for the key players operating in the global golf cart market.

A. By product type, solar golf cart segment is expected to gain traction over the forecast period. However, at present electric golf cart segment is the major constributor in the global golf cart market

A. U.S, Canada and UK are the key matured markets growing in the global golf cart market

A. Inclination toward use of solar golf cart, adoption of single user golf carts and use of golf carts as a low-speed vehicle for various short length transits have strong impact on the global golf cart market

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