Global Golf Cart Market 2018-2022
About Golf Carts
A golf cart is a small mechanized vehicle powered either by gasoline engine or an electrically powered motor. Typically, golf carts carry players and their equipment on the golf course.
Technavio’s analysts forecast the Global Golf Cart Market to grow at a CAGR of 5.73% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the golf cart market. To calculate the market size, the report considers the revenue generated from the sale of golf carts across the globe.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report - Global Golf Cart Market 2018-2022
Technavio recognizes the following companies as the key players in the global golf cart market: INGERSOLL-RAN, Textron, Xiamen Dalle Electric Car, citEcar Electric Vehicles, and Yamaha Corporation.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is the introduction of solar-powered golf carts. Solar powered golf carts are expected to receive overwhelming acceptance in the global golf cart market during the forecast period.”
According to the report, one driver influencing this market is the upcoming new golf courses. The global golf cart market is likely to witness rapid growth owing to substantial increase in the number of golf courses. Golf carts are convenient modes for short-distance commutation, and with more than 200 golf courses being constructed around the world, the global golf cart market will witness a robust growth in the coming few years.
Further, the report states that one challenge affecting this market is the high maintenance cost. Golf carts involve high costs of maintenance as they require timely services and annual inspections which is a major challenge for the growth of the global golf carts market.
Xiamen Dalle Electric Car
citEcar Electric Vehicles
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