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Golf Cart Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR40478
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The golf cart market has the potential to grow by USD 856.86 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 5.15%.

This golf cart market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (electric-powered and gasoline-powered), application (commercial use and personal use), and geography (North America, APAC, Europe, South America, and MEA). The golf cart market report also offers information on several market vendors, including Garia AS, HDK ELECTRIC VEHICLE, JH Global Services Inc., Maini Materials Movement Pvt. Ltd., Nordic Group Ltd., Platinum Equity Advisors LLC, SHOWA DENKO K.K., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Textron Inc., and Yamaha Motor Co. Ltd. among others.

What will the Golf Cart Market Size be in 2021?

Golf-Cart-Market-Market-Size-2020-2025

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Golf Cart Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The upcoming new golf courses is notably driving the golf cart market growth, although factors such as high maintenance cost may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the golf cart market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

This golf cart market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Golf Cart Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Garia AS
  • HDK ELECTRIC VEHICLE
  • JH Global Services Inc.
  • Maini Materials Movement Pvt. Ltd.
  • Nordic Group Ltd.
  • Platinum Equity Advisors LLC
  • SHOWA DENKO K.K.
  • Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
  • Textron Inc.
  • Yamaha Motor Co. Ltd.

 

This statistical study of the golf cart market encompasses successful business strategies deployed by the key vendors. The golf cart market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The golf cart market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Golf Cart Market?

Golf-Cart-Market-Market-Share-by-Region-2020-2025

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46% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for golf cart market in North America. Market growth in this region will be faster than the growth of the market in MEA.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Golf Cart Market?

Golf-Cart-Market-Market-Share-by-Product-2020-2025

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The golf cart market share growth by the electric-powered segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the golf cart market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Golf Cart Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive golf cart market growth during the next five years
  • Precise estimation of the golf cart market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the golf cart market industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of golf cart market vendors

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Golf Cart Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5%

Market growth 2021-2025

$ 856.86 million

Market structure

Fragmented

YoY growth (%)

5.03

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

North America at 46%

Key consumer countries

US, Japan, Canada, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Garia AS, HDK ELECTRIC VEHICLE, JH Global Services Inc., Maini Materials Movement Pvt. Ltd., Nordic Group Ltd., Platinum Equity Advisors LLC, SHOWA DENKO K.K., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Textron Inc., and Yamaha Motor Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Electric-powered - Market size and forecast 2020-2025
    • Gasoline-powered - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Commercial use - Market size and forecast 2020-2025
    • Personal use - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Garia AS
    • HDK ELECTRIC VEHICLE
    • JH Global Services Inc.
    • Maini Materials Movement Pvt. Ltd.
    • Nordic Group Ltd.
    • Platinum Equity Advisors LLC
    • SHOWA DENKO K.K.
    • Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.
    • Textron Inc.
    • Yamaha Motor Co. Ltd.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
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    Golf Cart market growth will increase by $937.32 million during 2019-2024.
    The golf cart market is expected to grow at a CAGR of 5.84% during 2019-2024.
    Technavio has segmented the golf cart market by product (Electric-powered and Gasoline-powered) ,application (Commercial use and Personal use) , and geographic (North America, APAC, Europe, South America, and MEA).
    Garia AS, Hitachi Chemical Co. Ltd., Ingersoll Rand Inc., JH Global Services Inc., Maini Materials Movement Pvt. Ltd., Nordic Group of Companies Ltd., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Textron Inc., Xiamen Dalle Electric Car Co. Ltd., Yamaha Motor Co. Ltd. are a few of the key vendors in the golf cart market.
    North America will register the highest growth rate of 51.75% among the other regions. Therefore, the golf cart market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the golf cart market growth are:
    • Upcoming new golf courses
    • Introduction of solar-powered golf carts
    The golf cart market vendors should focus on grabbing business opportunities from the electric-powered segment as it accounted for the largest market share in the base year.
    • What are the key global market and the regional market share?
    • What are the revenue-generating key market segments?
    • What are the key factors driving and challenging this market’s growth?
    • Who are the key market vendors and their growth strategies?
    • What are the latest trends influencing the growth of this market?
    • What are the variables influencing the market growth in the primary regions?
    • What are the factors influencing the growth of the parent market?
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