Overview and Scope
A go-kart is a small, open-wheel, motorized vehicle designed for recreational or competitive racing. It typically features a lightweight frame, a low center of gravity, and a simple steering and braking system and is known for its compact size and maneuverability, making them popular for both children and adults.
Sizing and Forecast
The go kart market size has grown strongly in recent years. It will grow from $112.37 billion in 2023 to $118.78 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to leisure and entertainment demand, amusement park integration, motor sports influence, diy enthusiasts.
The go kart market size is expected to see steady growth in the next few years. It will grow to $143.62 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to accessibility and expansion, rising interest in motorsports, environmental concerns, youth engagement and education. Major trends in the forecast period include technological advancements, electric go-karts, augmented reality (ar) integration, customization and personalization, safety and accessibility, professional training centers.
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Segmentation & Regional Insights
The go kart market covered in this report is segmented –
1) By Type: Electric, Gasoline, Other Types
2) By Seating Capacity: Single, Double Seater
3) By Age Group: Kids, Teens, Adults
4) By Application: Rental, Racing
North America was the largest region in the go-kart market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the go kart market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in recreational activity is expected to propel the growth of the go-kart market going forward. A recreational activity refers to an enjoyable and leisurely pursuit or pastime that individuals engage in for relaxation, entertainment, and personal satisfaction. Go-karts are commonly used in recreational activities as entertainment and leisure, providing an exciting and adrenaline-pumping experience for people of various ages and skill levels. For instance, in March 2023, according to the Sports & Fitness Industry Association (SFIA), a US-based sports association, more than 76% of all Americans, or 236.9 million people, participated in at least one activity during the 2022 calendar year in the United States, a 1.9% increase from 2021. Additionally, more Americans participated in at least one sport, fitness exercise, or outdoor recreation activity in 2022 compared to five previous years. Therefore, an increase in recreational activity drives the go-kart market.
Key Industry Players
Major companies operating in the go kart market report are Yamaha Motor Co. Ltd., Briggs & Stratton LLC, Comer Industries, Lotus Cars Ltd., Sodikart S.A.S., Praga Co., Birel ART S.r.l., CRG S.p.A., The IAME, Tony Kart S.r.l., Mach1 Kart, OTL Italia s.r.l., BMS Motorsports Inc., DuroMax Power Equipment, Kosmic Kart, Wildkart Factory, Energy Corse S.r.l., Top Kart USA Inc., Comet Kart Sales, CKR Go Kart, Margay Racing LLC, Dr Racing Kart S.r.l., Vemme Kart, Parolin Racing Kart S.r.l., Righetti Ridolfi S.r.l., AMV Kart Components, Vega Karts S.r.l., TAOTAO Go Karts
The go kart market report table of contents includes:
1. Executive Summary
2. Go Kart Market Characteristics
3. Go Kart Market Trends And Strategies
4. Go Kart Market – Macro Economic Scenario
5. Global Go Kart Market Size and Growth
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31. Go Kart Market Other Major And Innovative Companies
32. Global Go Kart Market Competitive Benchmarking
33. Global Go Kart Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Go Kart Market
35. Go Kart Market Future Outlook and Potential Analysis
36.Appendix
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