Market Research Report
Golf Cart Market - Growth, Trends, and Forecast (2020 - 2025)
|Golf Cart Market - Growth, Trends, and Forecast (2020 - 2025)|
Published: May 1, 2020
Mordor Intelligence Pvt Ltd
Content info: 70 Pages
Delivery time: 2-3 business days
The global golf cart market is anticipated to register a CAGR of about 5% during the forecast period (2020 - 2025).
Growth of Golf Sport Sector will Propel the Market
Golf sports infrastructures provide a majority of the demand for the golf carts, A good infrastructure provides a good base for a good market. For instance, in the United States, there are approximately 15,000 facilities, 24 million golfers and about 450 million rounds-played along with that the market for golf clubs and balls was USD 2.7 billion in 2018 as stated by NGF. Previously this sport is dominated by adult males only but now the sport is witnessing huge beginners which also includes women, children and even golfers above 65 age.
As golf is a premium sport and its players need a good experience throughout their time on the court, similarly other golf equipment along with various goods for maintenance is also being moved from one place to another. Golf cart provides all kind of luxury and customization in it, according to the needs in the court such as course maintenance, food & beverages, commuting, merchandising OEMs offer various accessories' option like premium seats, light kits, automotive colors, ball picker kit, extra storage compartment, cooler and many others accessories.
North America Is Expected to Dominate the Golf Cart Market
North America is anticipated to dominate the global golf cart market over the forecast period. This region also has the presence of major market participants such as Yamaha Golf-Car Company, Club Car, LLC, Cruise Car, Inc, Columbia ParCar Corp, Garia Inc. Textron Inc.(E-Z-GO). The United States has a special place for this sport, as it possesses more than 17,000 courses, host of three of the four men's Major Championships, and seen many of the finest players of this sport. Along with that, this region is also witnessing a good activity by local market participants for instance on March 2020, Red Hawk a supplier of parts and accessories to golf car manufacturers has announced that it will be opening a new distribution center in Indianapolis which is going to be its fourth location.
The European region is pushing hard to have significant growth in the coming years although it has witnessed ups and downs in the past. EGCOA & its members such as national golf course owners' associations, golf federations, and industry suppliers developed the VISION 2020, to inspire their members & and the European golf industry to make good, strategic decisions for their facilities or associations.
The golf cart market is fragmented owing to the presence of several regional players. For instance, major players active in North America includes Yamaha Golf-Car Company, Club Car, LLC, Cruise Car, Inc, Columbia ParCar Corp, Evolution Electric Vehicle, Garia Inc. Textron Inc., amongst others. The companies are expanding their presence by opening new plants and making existing golf carts more advanced by introducing new software and battery technologies. For instance,