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 “[URL=https://industryarc.com/PressRelease/962/Golf-Cart-Market-Research.html]Golf Cart Market[/URL] - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast (2019 – 2025).”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.
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Global Golf Cart Market: Leading Segments
North America clenched the largest demand share in the global golf cart market at 38.81% in 2018. 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 estimated opportunities for the growth in these applications is projected to grow at a healthy CAGR of 6.57% during the forecast period.
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 that 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.
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, Garia Inc, Tomberlin, and Maini Material Movement Pvt Ltd.
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