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    Golf Cart Market Size, Share & Forecast (2020-2025) | Covid-19 Impact Analysis

    Golf Cart Market Size, Share & Forecast (2020-2025) | Covid-19 Impact Analysis

    Golf Cart Market Size, Share & Forecast (2020-2025) | Covid-19 Impact Analysis
    Report code - SRCG107 Delivery - 2 Weeks
    Golf Cart Market Size, Share, Trend, Forecast, & Competitive Analysis: 2020-2025
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    Impact of COVID-19 on Golf Cart Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Golf Cart Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Golf Cart Market Insights

    Golf carts are primarily used in the golf courses and country clubs by golfers to carry their clubs and other equipment. Golf cart saves labor & time, lets golfers transport their own clubs, lightens work for caddies, and encourages smoother and more enjoyable rounds. Apart from the golf courses & country clubs, golf carts are also preferred for carrying less heavy items or passengers for short distances in hotels, airports, shopping malls, and entertainment places. The golf car market has experienced significant decline over the past decade due to global economic crisis and limited number of golf courses and country clubs across the world.

    The global golf cart market has a promising future with good growth opportunity and is likely to witness >4% CAGR during the forecast period of 2020 to 2025. Recovery of the global economy and increasing the number of golf courses and country clubs are the major drivers of the golf cart market in the next five years. Additionally, increasing preference for the use of golf carts in hotels, resorts, airports, and shopping malls is likely to drive the golf cart sales during the same period. Major golf cart manufacturers, such as Club Car and E-Z Go are renovating the clubs with the purpose to attract the golfers.

    Golf Cart Market Forecast

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    Golf Cart Market Share Analysis

    Golf Cart Market Share by Vehicle Type

    Electric golf carts are the most preferred type across the globe because of their benefits, such as environment friendliness with no carbon emissions and noise reduction. Electric golf carts are expected to remain the largest cart type during the forecast period.

    Golf Cart Market Share Analysis

    Regional Insights

    North America is expected to remain the largest market for golf carts during the forecast period. High number of the golf courses and golfers are the primary reason behind North America’s dominance in the golf cart market.

    All the major golf cart manufacturers are strategically well aligned with the regional market dynamics and have their manufacturing bases in North America to tap the regional potential. They are also targeting other growth markets.

    Key Players

    The supply chain of this market comprises raw material suppliers, component manufacturers, golf cart manufacturers, and distributors. The global golf cart is a consolidated market with global as well as regional players. The key golf cart manufacturers are Ingersoll Rand, Textron, Kawasaki Motors, E-Way, HDK Electric vehicles, and Cushman. New product development, renovation of the golf courses, and presence in the key markets are the key strategies adopted by the key players to gain competitive edge in the market.

     

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2014-2025

    Forecast

    >4% CAGR during 2020-2025

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented in the following ways:

    Golf Cart Market Size, Share & Forecast by Vehicle Type:

    • Electric Vehicle
    • Gas Powered Vehicle
    • Diesel Powered Vehicle

    Golf Cart Market Size, Share & Forecast by Vehicle Operating Type:

    • Electromagnetic Guidance
    • Manual

    Golf Cart Market Size, Share & Forecast by Region:

    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World

     

    Report Features

    This report, from Stratview Research, studies the global golf cart market over the period 2014 to 2025. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the vehicle class types by technology type. 

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].com


    Frequently Asked Questions (FAQs)

    What will be the growth of the Golf Cart Market in the foreseeable years?

    Driven by a number of factors like increasing the number of golf courses, Golf Cart Market is expected to grow at a CGAR of >4% during 2020-2025.

    Which country/region is expected to be the largest Golf Cart Market?

    In terms of region, North America is expected to remain the largest market for golf carts during the forecast period of 2020-2025.

    Which type of vehicle is expected to remain largest cart type?

    Electric golf carts are expected to remain the largest vehicle type during the forecast period.

    Who are the key players in the Golf Cart Market?

    Ingersoll Rand, Textron, Kawasaki Motors, E-Way, HDK Electric vehicles, and Cushman. are among the key players in the Golf Cart Market.

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