About Golf Carts
Golf cart refers to the motorized vehicle used for short distance transportation. It is gas powered, a low-speed vehicle driven by electric motor widely used in golf courses for transportation of golfer and the equipment within the course premises. Increase in urbanization and industrialization, hi-tech & smart residential & commercial housing projects and usage of golf carts for short trips in educational institutes, airports and amusement parks is expected to propel the market for golf cart demand.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Golf Carts market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Golf Carts market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Golf Carts market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Yamaha Golf-Car (United States), Club Car (United States), Speedways Electric (India), Maini Material Movement (India), Prevalence Green Solution (India), Auto Power (India), Nebula Automotive (India), GDrive Golf Carts (India), Carrieall Car (India), Volmac Engg (India) and Garia (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Golf Carts market by Type (Golf Course, Personal Services and Commercial Services), Application (Golf Courses, Airports, Hotel & Resorts, Railways, Housing Projects, PSUs and Others) and Region.
On the basis of geography, the market of Golf Carts has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Seating Capacity, the sub-segment i.e. Small (2-4 Seater) will boost the Golf Carts market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development and Innovation in Golf Carts
Market Growth Drivers:
Demand for Golf Cart in Hotels, Hospitality, Tourism Industry and Amusement Parks and Increase in Golf Sports Event
Challenges:
Cost Optimization of Golf Cart
Restraints:
Stringent Government Rules and Regulation towards Vehicle Emission, Presence of Local Manufacturer and Lack of Standards and Initial Cost for A New Golf Is High and Regular Investment on Maintenance
Opportunities:
Growing Sports Leagues and Increasing Number of Event with Large Prize Pools
Market Leaders and their expansionary development strategies
In April 2019, Mid-Ohio Golf Cars, Inc. has been acquired by RMMC Holding ware capital. Mid-Ohio, a master distributor provides full value-added sales and services to the golf course, commercial and individual user market segments of the golf cart/speciality vehicle industry.
In Dec 2018 Kinetic Green and Energy Power Ltd signed a partnership agreement with Lamborghini SpA to manufacture and sell Tonino Lamborghini branded electric golf cart. Lamborghini will design premium golf cart and electric vehicles, kinetic will manufacture and market them to the global market.
Key Target Audience
Golf Carts Manufacturer, Raw Material Supplier, Association & Government Bodies, Research Companies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.