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Golf Cart Market Leveraging Upcoming Smart Residential Complexes

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The global golf cart market value at $2.38 billion as of 2018 and projected the opportunities to grow at a compound annual growth rate (CAGR) of 7.12% during the forecast period of 2019 to 2025.

— An increase in urbanization and construction of hotels and hospitality and amusement parks are anticipated to bolster the global golf cart market in the coming years. Moreover, "the construction of hi-tech buildings and smart residential projects has also increased the demand for golf carts for residents to travel within the societies," says the analyst of a new business intelligence report from IndustryARC. The report has evaluated the global golf cart market value at $2.38 billion as of 2018 and projected the opportunities to grow at a compound annual growth rate (CAGR) of 7.12% during the forecast period of 2019 to 2025.

The IndustryARC’s latest research report is titled “Golf Cart Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast (2019 – 2025).” The report also documents the usage of golf carts in airports, shopping malls, colleges, and universities established will fuel up the market in the foreseen future. This report covers Golf Cart Market Size by Product and applications, Golf Cart Market share by top 5 companies and also the market share by start-ups during the forecast period

View Full Table of Contents of Golf Cart Market:

Global Golf Cart Market: Demand Analysis
Golf carts are the vehicles used to carry golfers and golf kits around the golf course. However, these carts are also used for general purposes such as travel within residential complexes and sometimes referred to as neighborhood electric vehicles (NEVs). There are two types of golf carts: adaptive golf carts and extreme golf carts.

Global Golf Cart Market: Leading Segments
North America clenched the largest demand share in the global golf cart market at 38.81% in 2018. The increasing number of golf courses and country clubs are increasing the demand for golf carts in North America. Owing to the investments made by the companies and the government authorities has led to an increase in the number of hospitalities, amusement parks, and smart buildings and constructions. Moreover, North America is a developed economy and golf is played by most of the population. The government promotes golf as a sport for people by organizing championships such as PGA Championship, World Golf Championships, Presidents Cup, and Tour Championships.

The key application segments of the golf cart market are electric golf cart and solar golf cart, as per the IndustryARC analyst. The estimated opportunities for the growth in these applications is projected to grow at a healthy CAGR of 6.57% during the forecast period.

Talk to one of our sales representative about the full report by providing your details in the link below:

Global Golf Cart Market: The Disruptors
Auro Robotics: Auro robotics is planning to create an autonomous vehicle that will act as a traveling tool around the universities, resorts, and retirement communities. These vehicles are generally free to operate without any restrictions and regulations. It is well equipped with radar, camera, GPS, sensing technology, and laser scanners.

Mobile Autonomous Robotic Golf Cart Caddy: This golf cart offers two tracking modes that are controlled by a module which is connected to the golfer’s waistband. In one option, they can stand in front or behind the 39-pound caddy and engage follow mode or marching mode respectively. Apparently, there is a remote provided with which the caddy trek can be controlled and moved around manually.

Solar Golf Cart: Solar golf carts are known amongst the owners who use it for maintenance workers, who owns a resort or the cart of his own. It just needs to be plugged into the sun and it can be charged anywhere during the day. These innovations have influenced the golf cart market demand to grow.

Global Golf Cart Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global golf cart market are Hitachi Chemical Co, Ltd, JH Global Services, Inc, Textron Specialized Vehicles Inc., Ingersoll-Rand Plc, Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd, Xiamen Dalle Electric Car Co., Ltd, Yamaha Golf Car Company, GariaInc, Tomberlin, and Maini Material Movement Pvt Ltd.

Related Reports:

A. Automotive Interior Materials Market

B. Low Speed Vehicle Market

About IndustryARC:
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

Contact Info:
Name: Venkat Reddy
Email: Send Email
Organization: IndustryARC
Phone: +1 614-588-8538
Website: https://www.industryarc.com/Domain/3/automotive-market-research.html

Source URL: https://marketersmedia.com/golf-cart-market-leveraging-upcoming-smart-residential-complexes/88898221

Source: MarketersMedia

Release ID: 88898221

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