Yahoo Finance Golf Cart Market is Projected to Reach US$ 2.05 Billion in 2028
The Golf Cart Market is expected to reach US$ 2.05 Billion in 2028, growing at a CAGR of 5.12% during 2022-2028, reports Stratview Research.
Raipur, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Golf Cart Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Golf Cart Market is driven by a host of factors, some of which are noted below:
Increasing number of golf courses all over the world is likely create enormous demand for golf.
According to the National Golf Foundation, there is a continuous increase in golf participation with a growth of 6.4% in the past two years
The report also includes growth rate estimates based on the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Golf Cart Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Fuel Type (Gasoline, Electric & Solar Powered),
By Application Type (Golf Course, Commercial Service, and Others),
By Region (North America, Europe, Asia-Pacific, and Rest of the World).
Golf Cart Market Insights
Market Trends by Fuel Type
The market is segmented as gasoline and electric & solar powered. Electric & Solar powered golf cart dominated the market in 2021 and is estimated to maintain its lead during the forecast period, owing to its various benefits, such as noise reduction, zero emission, and low maintenance & operation cost.
Market Trends by Application Type
The market is segmented as golf course, commercial service, and others. Golf course is likely to remain the largest application of the market during the forecast period, propelled by presence of large number of golf courses coupled with rising number of golf courses and number active participation in golf across the world.
Which region offers the best opportunity and growth?
North America to maintain its supremacy in the market during the forecast period, with the USA being the key growth engines of the region’s market. The USA constitutes the largest number of golf courses in the world with around 45% of the total courses in the world. Rising number of on-course and off-course play in the country is driving high growth in the country’s golf cart market and ultimately to the region’s and global markets during the forecast period.
COVID-19 Impact on the Golf Cart Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/161/golf-cart-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players -
Ingersoll Rand, Inc.
Yamaha Motor Company Limited
Hitachi Chemical Co. Ltd.
Textron Inc.
Xiamen Dalle Electric Car Co., Ltd.
Polaris Inc.
Lvtong New Energy Electric Vehicle Technology Co., Ltd.
Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
Columbia Vehicle Group Inc.
Garia A/S
What deliverables will you get in this report?
In-depth analysis of the Golf Cart Market.
Detailed market segmentation.
Competitive landscape analysis.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
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About us –
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customization of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
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