The Golf Cart Global Market Report 2023 by The Business Research Company, provides golf cart market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Golf Cart Global Market Report 2023, the market size is expected to grow from $1.54 billion in 2022 to $1.64 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global golf carts market size is expected to reach $2.04 billion in 2027 at a CAGR of 5.6%.
A rise in the utilization of golf carts in tourism is expected to propel the growth of the golf cart market going forward. Tourism refers to travel that includes a commercial activity. Golf carts are frequently employed by tourists as a means of transportation for visiting a variety of tourist attractions, including hotels, theme parks, zoos, and museums, due to their comfort, affordability, and environmental friendliness. Hence, the rise in the utilization of golf carts in tourism will increase the demand for golf cart market. golf carts are a well-liked form of transportation for tourists.
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The golf cart market is segmented:
1) By Product Type: Push-Pull Golf Cart, Gasoline Golf Cart, Electric Golf Cart, Solar Powered Golf Cart
2) By Operation: Manual, Powered
3) By Ownership: Rented, Fully Owned
4) By Application: Golf Courses, Personal Use, Industry Use, Other Applications
Technological advancements are a key trend gaining popularity in the golf cart market. Major companies operating in the golf cart market are developing innovative technologies to sustain their position in the market. For instance, in November 2022, Neuron Energy Pvt Ltd, an India-based provider of Electric Vehicle solutions, debuted the Adler line of electric golf carts., The newest endeavour will use its new product to meet the demand for personal travel, freight, leisure, and medical help. The lithium-ion batteries from Neuron, which have a GPRS tracker and remote help, will power the golf carts where GPRS vehicle tracking system function independently conjunction with a GPS system which records the location data and transmits that data to the internet.
The golf cart market report table of contents includes:
1. Executive Summary
2. Golf Cart Market Characteristics
3. Golf Cart Market Trends And Strategies
4. Golf Cart Market – Macro Economic Scenario
5. Golf Cart Market Size And Growth
…………….
26. Africa Golf Cart Market
27. Golf Cart Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Golf Cart Market
29. Golf Cart Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
Yamaha Golf-Car Company
Textron Inc.
Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
Club Car
Cruise Car Inc.
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