Golf Cart Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2028

Published on : Feb-2020 | List of Tables : 80 | List of Figures : 162 | No. of Pages : 170 | Report Code : FACT4537MR | Format :

Golf Cart Market to Witness High Demand Growth, as Infrastructure Spending on Golf Courses Ramps Up

Popularity of Golf is soaring in developed countries. US witnessed an upsurge in the number of golfers by 10% in last five years and this number is anticipated to increase in the foreseeable future. This is due to improved accessibility to golf courses and increased spending by local municipal corporations to build infrastructure required for golf in their cities. In the US, more than 70% golf courses are open for public in which more than 2,500 golf courses are administrated by the municipal corporation while more than 8,300 golf courses are operating commercially. In developing countries such as India and China, golf is getting widespread attention as awareness about the game is increasing with local players catching headlines in international golf tournaments. There are more than 4,500 golf facilities in Asia Pacific region and several facilities under construction. Worldwide growth in golf course projects in private clubs, golf-centric real estate developments and golf resorts are the factors which lead to a rise in the global demand for golf carts. Therefore, the global golf cart market is projected to create an absolute $ opportunity of more than US$ 1.6 billion to be valued at more than US$ 4.4 billion by the end of forecast period (2019 – 2028), predicts the report published by Fact.MR.

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Electric Golf Cart to Acquire Majority Share in Global Golf Cart Market

Rapid urbanization, industrialization and increased use of Neighbourhood Electric Vehicles (NEVs) has enabled the adoption of electric golf carts as an alternative to gasoline based vehicles used for personal and industrial transportation. Competitive advantages of electric golf carts over gasoline based golf carts include absence of emission, less noise and cost efficient energy consumption. This encourages consumers to opt for electrical golf cart. Easily possible customization in electric golf cart attracts customers who prefer modification in aesthetics, seating capacity and increased space utilization. Fact.MR opines that electric golf cart is projected to capture more than 89% market share in term of value in the global golf cart market by the end of the forecast period (2019 – 2028).

Heightened Preference for Golf Cart Ownership to Propel Demand

Apart from use on the golf courses, golf carts are also used for transportation in the manufacturing & logistic industries as well as for personal use as low speed vehicles. People prefer to purchase a golf cart rather than rent it due to incentives from government such as tax credit on electric golf cart and relaxation from registration of the vehicle which falls under category of electric vehicles operating under 250 Watt & maximum speed of 25 Km/h. Furthermore, golf carts offer multiple benefits such as ease of driving, convenience and energy efficiency which attracts customers. In the report recently published by the Fact. MR, it is projected that renting will hold significant value share but fully owned golf cart segment is set to grab 3/4th market in terms of value and, is expected to grow at a value CAGR of 5.5% by the end of 2028.

Asia Pacific to Exhibit Strong Growth

Economies of China, Japan, India and Republic of Korea etc. are swelling up. There has been significant upsurge in per capita spending of these countries. These regions are experiencing faster rate of the urbanization which is resulting in improved lifestyles of citizens thus creating demand for luxury goods such as golf carts. There has been substantial growth in the number of golf courses in the last five years, and Asia Pacific now holds around 20% golf facilities of the world with more than 100 golf facilities which are currently under construction in the region. Fact.MR anticipates that this demand will remain positive in eastern regions such as Asia Pacific which is projected to hold around 60% value share of the global golf cart market during the forecast period.

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Manufactures Aiming Revenue Growth through Product Launches and Partnerships

Market leaders are maintaining strong position in the market with new product launches and partnerships in order to expand their business. For instance, in January 2019, market leader Club Car introduced a Lithium ion golf cart with the ability to save up to 50% electricity. In the same year, Club Car partnered with AEV Technologies for innovation in the electric golf cart market. In December 2018 at PGA Merchandise Show, another market leader Yamaha Golf Car Company launched a light utility vehicle in its UMAX lineup with enhanced features in the existing UMAX series.

Golf Cart Market - Scope of the Report

Fact.MR recently published a market study on the global market for golf cart. The study provides a detailed assessment on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the golf cart market structure. The market study presents exclusive information about how the golf cart market will grow during the forecast period of 2019-2028.

Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact. MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the golf cart market in the forecast period.

The study is relevant for stakeholders in the golf cart market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the golf cart market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.

The study also includes statistics as well as facts related to macro as well as microeconomic factors that are impacting developments in the golf cart market. It also offers actionable insights based on future trends in the golf cart market. Furthermore, small businesses and new entrants in the golf cart market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.

Key Segments of the Golf Cart Market

Fact.MR’s study on the golf cart market offers information divided into four key segments-product, operation, application, ownership and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Product

Operation

Application

Ownership

Region

  • Push-Pull Golf Cart 
  • Gasoline Golf Cart
  • Electric Golf Cart
  • Solar Powered Golf Cart
  • Manual
  • Powered
  • Golf Courses
  • Personal Use
  • Industry Use
  • Others
  • Rented
  • Fully Owned
  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • MEA
  • Japan

Key Questions Answered in Fact.MR’s Golf Cart Market Report

  • Which regions will continue to remain the most profitable regional markets for golf cart market players?
  • Which factors will induce a change in the demand for golf cart during the assessment period?
  • How will changing trends impact the golf cart market?
  • How can market players capture the low-hanging opportunities in the golf cart market in developed regions?
  • Which companies are leading the golf cart market?
  • What are the winning strategies of stakeholders in the golf cart market to upscale their position in this landscape?

Golf Cart Market: Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the golf cart market, and reach conclusions on future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of conclusions.

Secondary resources referred to analysts during the preparation of the golf cart market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who have contributed to the development of this report as a primary resource.

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Summary of Key Findings

    1.3. Demand Side Trends

    1.4. Supply Side Trends

    1.5. Operation Roadmap

    1.6. Fact.MR Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Key Market Trends

    3.1. Key Trends Impacting the Market

    3.2. Product Innovation / Development Trends

4. Key Success Factors

    4.1. Product Adoption / Usage Analysis

    4.2. Product USPs / Features

    4.3. Strategic Promotional Strategies

5. Global Golf Cart Market Demand Analysis 2013-2018 and Forecast, 2019-2028

    5.1. Historical Market Volume (Units) Analysis, 2013-2018

    5.2. Current and Future Market Volume (Units) Projections, 2019-2028

    5.3. Y-o-Y Growth Trend Analysis

6. Global Golf Cart Market - Pricing Analysis

    6.1. Regional Pricing Analysis By Product

    6.2. Pricing Break-up

        6.2.1. Manufacturer Level Pricing

        6.2.2. Distributor Level Pricing

    6.3. Global Average Pricing Analysis Benchmark

7. Global Golf Cart Market Demand (US$ Mn) Analysis 2013-2018 and Forecast, 2019-2028

    7.1. Historical Market Value (US$ Mn) Analysis, 2013-2018

    7.2. Current and Future Market Value (US$ Mn) Projections, 2019-2028

        7.2.1. Y-o-Y Growth Trend Analysis

        7.2.2. Absolute $ Opportunity Analysis

8. Market Background

    8.1. Global Golf Market – Overview

        8.1.1. Golf Market Value (US$ Mn) and Forecast, 2018 - 2028

        8.1.2. Top Countries Share in Golf Market

    8.2. Number of Golf Field, By Region

    8.3. Government Policies & their Impact, By Region

    8.4. Macro-Economic Factors

    8.5. Forecast Factors - Relevance & Impact

    8.6. Value Chain

        8.6.1. List of Key Manufacturers

        8.6.2. List of Channel Partners

        8.6.3. Operating Margins 

        8.6.4. Notes on Value Added at Each Node in the Value Chain

    8.7. Market Dynamics

        8.7.1. Market Driving Factors and Impact Assessment

        8.7.2. Prominent Market Challenges and Impact Assessment

        8.7.3. Golf Cart Market Opportunities

        8.7.4. Prominent Trends in the Global Market & Their Impact Assessment

9. Global Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028, by Product 

    9.1. Introduction / Key Findings

    9.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Product, 2014 - 2018

    9.3. Current Market Size (US$ Mn) & Volume (Units) Analysis and Forecast By Product, 2019 - 2029

        9.3.1. Push-Pull Golf Cart

        9.3.2. Gasoline Golf Cart

        9.3.3. Electric Golf Cart

        9.3.4. Solar Powered Golf Cart

    9.4. Market Attractiveness Analysis By Product

10. Global Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028, by Operation

    10.1. Introduction / Key Findings

    10.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Operation, 2014 - 2018

    10.3. Current Market Size (US$ Mn) & Volume (Units) Analysis and Forecast By Operation, 2019 - 2029

        10.3.1. Manual

        10.3.2. Powered

    10.4. Market Attractiveness Analysis By Operation

11. Global Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028, by Application

    11.1. Introduction / Key Findings

    11.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Application, 2014 - 2018

    11.3. Current Market Size (US$ Mn) & Volume (Units) Analysis and Forecast By Application, 2019 - 2029

        11.3.1. Golf Courses 

        11.3.2. Personal Use

        11.3.3. Industrial Use

        11.3.4. Others

    11.4. Market Attractiveness Analysis By Application

12. Global Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028, by Ownership

    12.1. Introduction / Key Findings

    12.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Ownership, 2014 - 2018

    12.3. Current Market Size (US$ Mn) & Volume (Units) Analysis and Forecast By Ownership, 2019 - 2029

        12.3.1. Rented 

        12.3.2. Fully Owned

    12.4. Market Attractiveness Analysis By Ownership

13. Global Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028, by Region

    13.1. Introduction

    13.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Region, 2014 - 2018

    13.3. Current Market Size (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2019 - 2029

        13.3.1. North America

        13.3.2. Latin America

        13.3.3. Western Europe

        13.3.4. Eastern Europe

        13.3.5. Asia Pacific Ex. Japan (APEJ)

        13.3.6. Middle East and Africa (MEA)

        13.3.7. Japan

    13.4. Market Attractiveness Analysis By Region

14. North America Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028

    14.1. Introduction

    14.2. Pricing Analysis

    14.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2014 - 2018

    14.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2019 - 2029

        14.4.1.  By Country

            14.4.1.1. U.S.

            14.4.1.2. Canada

        14.4.2. By Product

        14.4.3. By Operation

        14.4.4. By Application

        14.4.5. By Ownership

    14.5. Market Attractiveness Analysis

        14.5.1. By Country

        14.5.2. By Product

        14.5.3. By Operation

        14.5.4. By Application

        14.5.5. By Ownership

    14.6. Market Trends

    14.7. Key Market Participants - Intensity Mapping

    14.8. Drivers and Restraints - Impact Analysis

15. Latin America Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028

    15.1. Introduction

    15.2. Pricing Analysis

    15.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2014 - 2018

    15.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2019 - 2029

        15.4.1.  By Country

            15.4.1.1. Brazil

            15.4.1.2. Mexico

            15.4.1.3. Rest of Latin America

        15.4.2. By Product

        15.4.3. By Operation

        15.4.4. By Application

        15.4.5. By Ownership

    15.5. Market Attractiveness Analysis

        15.5.1. By Country

        15.5.2. By Product

        15.5.3. By Operation

        15.5.4. By Application

        15.5.5. By Ownership

    15.6. Market Trends

    15.7. Key Market Participants - Intensity Mapping

    15.8. Drivers and Restraints - Impact Analysis

16. Western Europe Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028

    16.1. Introduction

    16.2. Pricing Analysis

    16.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2014 - 2018

    16.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2019 - 2029

        16.4.1.  By Country

            16.4.1.1. France 

            16.4.1.2. Italy

            16.4.1.3. Germany

            16.4.1.4. Spain

            16.4.1.5. U.K.

            16.4.1.6. Rest of Western Europe

        16.4.2. By Product

        16.4.3. By Operation

        16.4.4. By Application

        16.4.5. By Ownership

    16.5. Market Attractiveness Analysis

        16.5.1. By Country

        16.5.2. By Product

        16.5.3. By Operation

        16.5.4. By Application

        16.5.5. By Ownership

    16.6. Market Trends

    16.7. Key Market Participants - Intensity Mapping

    16.8. Drivers and Restraints - Impact Analysis

17. Eastern Europe Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028

    17.1. Introduction

    17.2. Pricing Analysis

    17.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2014 - 2018

    17.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2019 - 2029

        17.4.1.  By Country

            17.4.1.1. Poland 

            17.4.1.2. Russia

            17.4.1.3. Rest of Eastern Europe

        17.4.2. By Product

        17.4.3. By Operation

        17.4.4. By Application

        17.4.5. By Ownership

    17.5. Market Attractiveness Analysis

        17.5.1. By Country

        17.5.2. By Product

        17.5.3. By Operation

        17.5.4. By Application

        17.5.5. By Ownership

    17.6. Market Trends

    17.7. Key Market Participants - Intensity Mapping

    17.8. Drivers and Restraints - Impact Analysis

18. APEJ Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028

    18.1. Introduction

    18.2. Pricing Analysis

    18.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2014 - 2018

    18.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2019 - 2029

        18.4.1.  By Country

            18.4.1.1. China

            18.4.1.2. India

            18.4.1.3. Australia & New Zealand

            18.4.1.4. Rest of APEJ

        18.4.2. By Product

        18.4.3. By Operation

        18.4.4. By Application

        18.4.5. By Ownership

    18.5. Market Attractiveness Analysis

        18.5.1. By Country

        18.5.2. By Product

        18.5.3. By Operation

        18.5.4. By Application

        18.5.5. By Ownership

    18.6. Market Trends

    18.7. Key Market Participants - Intensity Mapping

    18.8. Drivers and Restraints - Impact Analysis

19. Middle East and Africa Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028

    19.1. Introduction

    19.2. Pricing Analysis

    19.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2014 - 2018

    19.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2019 - 2029

        19.4.1.  By Country

        19.4.2. UAE

        19.4.3. Turkey

        19.4.4. South Africa

        19.4.5. Rest of MEA

        19.4.6. By Product

        19.4.7. By Operation

        19.4.8. By Application

        19.4.9. By Ownership

    19.5. Market Attractiveness Analysis

        19.5.1. By Country

        19.5.2. By Product

        19.5.3. By Operation

        19.5.4. By Application

        19.5.5. By Ownership

    19.6. Market Trends

    19.7. Key Market Participants - Intensity Mapping

    19.8. Drivers and Restraints - Impact Analysis

20. Japan Golf Cart Market Analysis 2013-2018 and Forecast 2019-2028

    20.1. Introduction

    20.2. Pricing Analysis

    20.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2014 - 2018

    20.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2019 - 2029

        20.4.1. By Product

        20.4.2. By Operation

        20.4.3. By Application

        20.4.4. By Ownership

    20.5. Market Attractiveness Analysis

        20.5.1. By Product

        20.5.2. By Operation

        20.5.3. By Application

        20.5.4. By Ownership

    20.6. Market Trends

    20.7. Key Market Participants - Intensity Mapping

    20.8. Drivers and Restraints - Impact Analysis

21. Market Structure Analysis

    21.1. Market Analysis by Tier of Companies (Golf Cart)

    21.2. Market Concentration

    21.3. Market Share Analysis of Top Players

    21.4. Market Presence Analysis

        21.4.1. Regional Footprint of Players

        21.4.2. Product Footprint by Players

        21.4.3. Channel Footprint by Players

22. Competition Analysis

    22.1. Competition Dashboard

    22.2. Pricing Analysis by Competition

    22.3. Competition Benchmarking

    22.4. Competition Deep Dive 

        22.4.1. Club Car, LLC

            22.4.1.1. Overview

            22.4.1.2. Product Portfolio

            22.4.1.3. Sales Footprint

            22.4.1.4. Strategy Overview

        22.4.2. EverGreen Electrical Vehicles

            22.4.2.1. Overview

            22.4.2.2. Product Portfolio

            22.4.2.3. Sales Footprint

            22.4.2.4. Strategy Overview

        22.4.3. E-Z-GO

            22.4.3.1. Overview

            22.4.3.2. Product Portfolio

            22.4.3.3. Sales Footprint

            22.4.3.4. Strategy Overview

        22.4.4. Columbia ParCar Corp

            22.4.4.1. Overview

            22.4.4.2. Product Portfolio

            22.4.4.3. Sales Footprint

            22.4.4.4. Strategy Overview

        22.4.5. Checkers Safety Group

            22.4.5.1. Overview

            22.4.5.2. Product Portfolio

            22.4.5.3. Sales Footprint

            22.4.5.4. Strategy Overview

        22.4.6. Yamaha Golf-Car Company

            22.4.6.1. Overview

            22.4.6.2. Product Portfolio

            22.4.6.3. Sales Footprint

            22.4.6.4. Strategy Overview

        22.4.7. Xiamen Dalle Electric Car Co., Ltd

            22.4.7.1. Overview

            22.4.7.2. Product Portfolio

            22.4.7.3. Sales Footprint

            22.4.7.4. Strategy Overview

        22.4.8. Hitachi Chemical Co., Ltd.

            22.4.8.1. Overview

            22.4.8.2. Product Portfolio

            22.4.8.3. Sales Footprint

            22.4.8.4. Strategy Overview

        22.4.9. Maini Material Movement Pvt. Ltd.

            22.4.9.1. Overview

            22.4.9.2. Product Portfolio

            22.4.9.3. Sales Footprint

            22.4.9.4. Strategy Overview

        22.4.10. Garia Luxury Golf Car

            22.4.10.1. Overview

            22.4.10.2. Product Portfolio

            22.4.10.3. Sales Footprint

            22.4.10.4. Strategy Overview

        22.4.11. Cruise Car, Inc.

            22.4.11.1. Overview

            22.4.11.2. Product Portfolio

            22.4.11.3. Sales Footprint

            22.4.11.4. Strategy Overview

        22.4.12. Other Prominent Players

            22.4.12.1. Overview

            22.4.12.2. Product Portfolio

            22.4.12.3. Sales Footprint

            22.4.12.4. Strategy Overview

23. Assumptions and Acronyms Used

24. Research Methodology

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Golf Cart Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2028