Golf Cart and Neighborhood Electric Vehicle Market Report: Trends, Forecast and Competitive Analysis to 2030

Golf Cart and Neighborhood Electric Vehicle Trends and Forecast

The future of the global golf cart and neighborhood electric vehicle market looks promising with opportunities in the neighborhood electric vehicle and golf cart markets. The global golf cart and neighborhood electric vehicle market is expected to reach an estimated $6.8 billion by 2030 with a CAGR of 10.3% from 2024 to 2030. The major drivers for this market are the growing popularity of short-distance travel in parks and hotels, increasing consumer demand for long-term sustainable automobiles free of pollution, as well as, rapid conversion of golf carts from gas to electric power.

A more than 150-page report is developed to help in your business decisions.

Golf Cart and Neighborhood Electric Vehicle by Segment

The study includes a forecast for the global golf cart and neighborhood electric vehicle by propulsion, type, and region.

Golf Cart and Neighborhood Electric Vehicle Market by Propulsion [Shipment Analysis by Value from 2018 to 2030]:

• Gas Powered Engine
• Electric Powered

Golf Cart and Neighborhood Electric Vehicle Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Neighborhood Electric Vehicle
• Golf Cart

Golf Cart and Neighborhood Electric Vehicle Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Golf Cart and Neighborhood Electric Vehicle Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies golf cart and neighborhood electric vehicle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the golf cart and neighborhood electric vehicle companies profiled in this report include-

• Bradshaw Electric Vehicles
• Dongfeng Motor Group
• E-Way Golf Cars and Garia
• Textron
• DY
• Ingersoll-Rand
• Yamaha Motor
• Polaris Industries
• Yamaha Motor
• Garia

Golf Cart and Neighborhood Electric Vehicle Market Insights

Lucintel forecasts that electric powered is expected to witness the higher growth over the forecast period because of the rising global gasoline prices have encouraged people to choose electric automobiles.

North America will remain the largest region over the forecast period due to the presence of a significant number of golf courses, the trend and support for golf, and the existence of major manufacturers of golf carts and other vehicles in the region.

Features of the Global Golf Cart and Neighborhood Electric Vehicle Market

Market Size Estimates: Golf cart and neighborhood electric vehicle market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Golf cart and neighborhood electric vehicle market size by propulsion, type, and region in terms of value ($B).

Regional Analysis: Golf cart and neighborhood electric vehicle market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different propulsion, type, and regions for the golf cart and neighborhood electric vehicle market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the golf cart and neighborhood electric vehicle market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the golf cart and neighborhood electric vehicle market size?

Answer: The global golf cart and neighborhood electric vehicle market is expected to reach an estimated $6.8 billion by 2030.

Q2. What is the growth forecast for golf cart and neighborhood electric vehicle market?

Answer: The global golf cart and neighborhood electric vehicle market is expected to grow with a CAGR of 10.3% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the golf cart and neighborhood electric vehicle market?

Answer: The major drivers for this market are the growing popularity of short-distance travel in parks and hotels, increasing consumer demand for long-term sustainable automobiles free of pollution, as well as, rapid conversion of golf carts from gas to electric power.

Q4. What are the major segments for golf cart and neighborhood electric vehicle market?

Answer: The future of the global golf cart and neighborhood electric vehicle market looks promising with opportunities in the neighborhood electric vehicle and golf cart markets.

Q5. Who are the key golf cart and neighborhood electric vehicle market companies?

Answer: Some of the key golf cart and neighborhood electric vehicle companies are as follows.

• Bradshaw Electric Vehicles
• Dongfeng Motor Group
• E-Way Golf Cars and Garia
• Textron
• DY
• Ingersoll-Rand
• Yamaha Motor
• Polaris Industries
• Yamaha Motor
• Garia

Q6. Which golf cart and neighborhood electric vehicle market segment will be the largest in future?

Answer: Lucintel forecasts that electric powered is expected to witness the higher growth over the forecast period because of the rising global gasoline prices have encouraged people to choose electric automobiles.

Q7. In golf cart and neighborhood electric vehicle market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to the presence of a significant number of golf courses, the trend and support for golf, and the existence of major manufacturers of golf carts and other vehicles in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the golf cart and neighborhood electric vehicle market by propulsion (gas powered engine and electric powered), type (neighborhood electric vehicle and golf cart), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?