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    Golf Cart Market | Covid-19 Impact Analysis

    Golf Cart Market | Covid-19 Impact Analysis

    Golf Cart Market | Covid-19 Impact Analysis
    Report code - SRCG107 Delivery - 2 Weeks
    Golf Cart Market Size, Share, Trend, Forecast, & Industry Analysis – 2021-2026
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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 have gone down in 2020 and may resume an uptrend gradually from 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 Cart market is likely to growth with a healthy CAGR of 5.9% over the next five years. 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 growing number of golf participation along with the increasing number of golf courses all over the world is likely create enormous demand for golf over the next five years.  

    Golf Cart Market - Snapshot

    Growth

    5.9% for the next five year

    Major Fuel Type

    Electric & Solar Powered

    Dominant Application Type

    Golf Course

    Region with the highest demand

    North America

    Key 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., and Garia A/S.

     

    Market Share Analysis

    Golf-Cart-Market-Dominant-Segments

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    Golf Cart Market Share: By Fuel Type

    Based on the fuel type, the market is segmented as gasoline and electric & solar powered. Electric & Solar powered golf cart dominated the market in 2019, 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.

    Golf Cart Market Share: By Application Type

    Based on the application type, the golf cart 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.

    Golf Cart Market Share: By Region

    In terms of regions, 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.  

    Golf-Cart-Market-By-Region

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    Some of the major golf cart manufacturers are-

    • 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

     

    Market Scope & Segmentation

    Golf cart is a type of car used to carry two golfers in general and their golf clubs to move one place to another on a grassy land of golf course. The speed of a typical golf cart is less than 24km/h.

    Golf carts are now coming with three variants, electric or solar powered and gasoline powered. Their wide range of modification options are available in the market which offer variations such as addition of ball cleaners, and cooler trays as per the customer’s demand.  

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Golf Cart Market Research Report - Features

    Market Segmentation

    3

    Regions Covered

    4

    Countries/Sub-Regions Covered

    12

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The golf cart market is segmented into the following categories. 

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

    • Gasoline Powered (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electric & Solar Powered (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

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

    • Golf Course (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Commercial Services (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Golf Cart Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Golf-Cart-Market-Segmentation

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    Research Methodology

    This report offers high-quality insights and is 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter 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 application types by fuel 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]


    Frequently Asked Questions (FAQs)

    Which country/region is expected to maintain its supremacy in the Golf Cart Market?

    North America is expected to maintain its supremacy in the golf cart market in the coming years.

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

    The golf cart market is expected to witness an impressive growth of 5.9% CAGR in the foreseeable future.

    Who are the key players in the Golf Cart Market?

    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., and Garia A/S are among the key players in the golf cart market.

    Which application is likely to remain the largest segment in the Golf Cart Market?

    Golf course is expected to remain the largest application in the golf cart market during the forecast period.

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