A golf cart is electric powered or gas powered low speed vehicle and it is originally manufactured for the usage in the golf course. Golf cart is very light weight and compact in size. The features such as availability of radio, windshield, rear seat, and others make it popular across various areas including stadiums, golf course, hotels, and others. At present, golf carts are categorized as electric golf cart, gasoline golf cart, and solar golf cart, based on technology. This ensures flexibility in terms of usage of different type of golf cart as per the availability. The report also covers the golf cart market based on application. The market is categorized as golf course, personal services, and commercial services, covers the market size as per the usage of golf cart.
The America golf cart market is driven by growth in population coupled with rise in purchasing power, stringent government rules and regulations toward vehicle emission, and increase in the number of golf courses and country clubs. However, high initial maintenance and purchasing cost, low power & speed, and low overall drive range are the factors that restrict the market growth. Moreover, technological advancement for golf carts and reduction in cost of fuel cells and batteries creates lucrative growth opportunities for the market.
The global America golf cart market is segmented based on passenger capacity, type, fuel type, application, capacity, and region. Based on passenger capacity, the market is divided into two passengers, four passengers, six passengers, and eight and more passengers.
Based on type, it is categorized into open and enclosed. Based on fuel type, it is bifurcated into gasoline and electric. Golf course, personal service, and commercial services are the applications of the golf cart studied under the scope of the study. However, the commercial services segment is further segmented into applications such as resorts, rental shuttle or taxi, universities, airports, hospitals, entertainment amusement parks, convention centers, sports stadiums, and zoo. Based on region, the market is analyzed across America.
Key players operating in the market include Club Car (Ingersoll-Rand plc,), Garia, Hitachi Chemical Co., Ltd., Star EV (JH Global Services, Inc.), Columbia Vehicle Group Inc., Evolution Electric Vehicle (HDK electric vehicles), GEM (Polaris Industries Inc.), EZ-GO (Textron Inc.), ICON Electric Vehicles, Yamaha Golf-Car Company, Smart Cart Electric Vehicles, and Bintelli Electric Vehicles.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Passenger Capacity
By Type
By Fuel Type
By Application
o Rental Shuttle or Taxi
o Universities
o Airports
o Hospitals
o Entertainment Amusement Parks
o Convention Centers
o Sports Stadiums
o Zoos
By Capacity
By Region
o Canada
o Mexico
o Brazil
o Argentina
o Rest of America
KEY MARKET PLAYERS PROFILED
The America golf cart market is driven by growth in population coupled with rise in purchasing power, stringent government rules and regulations toward vehicle emission, and increase in the number of golf courses and country clubs. However, high initial maintenance and purchasing cost, low power & speed, and low overall drive range are the factors that restrict the market growth. Moreover, technological advancement for golf carts and reduction in cost of fuel cells and batteries creates lucrative growth opportunities for the market.
The global America golf cart market is segmented based on passenger capacity, type, fuel type, application, capacity, and region. Based on passenger capacity, the market is divided into two passengers, four passengers, six passengers, and eight and more passengers.
Based on type, it is categorized into open and enclosed. Based on fuel type, it is bifurcated into gasoline and electric. Golf course, personal service, and commercial services are the applications of the golf cart studied under the scope of the study. However, the commercial services segment is further segmented into applications such as resorts, rental shuttle or taxi, universities, airports, hospitals, entertainment amusement parks, convention centers, sports stadiums, and zoo. Based on region, the market is analyzed across America.
Key players operating in the market include Club Car (Ingersoll-Rand plc,), Garia, Hitachi Chemical Co., Ltd., Star EV (JH Global Services, Inc.), Columbia Vehicle Group Inc., Evolution Electric Vehicle (HDK electric vehicles), GEM (Polaris Industries Inc.), EZ-GO (Textron Inc.), ICON Electric Vehicles, Yamaha Golf-Car Company, Smart Cart Electric Vehicles, and Bintelli Electric Vehicles.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the America golf cart market with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Passenger Capacity
- Two Passengers
- Four Passengers
- Six Passengers
- Eight and More Passengers
By Type
- Open
- Enclosed
By Fuel Type
- Gasoline
- Electric
By Application
- Golf Course
- Personal Service
- Commercial Services
o Rental Shuttle or Taxi
o Universities
o Airports
o Hospitals
o Entertainment Amusement Parks
o Convention Centers
o Sports Stadiums
o Zoos
By Capacity
- LSV
- Non-LSV
By Region
- America
o Canada
o Mexico
o Brazil
o Argentina
o Rest of America
KEY MARKET PLAYERS PROFILED
- Club Car (Ingersoll-Rand plc,)
- Garia
- Hitachi Chemical Co., Ltd.
- Star EV (JH Global Services, Inc.)
- Columbia Vehicle Group Inc.
- Evolution Electric Vehicle (HDK electric vehicles)
- GEM (Polaris Industries Inc.)
- EZ-GO (Textron Inc.)
- ICON Electric Vehicles
- Yamaha Golf-Car Company
- Smart Cart Electric Vehicles
- Bintelli Electric Vehicles
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AMERICA GOLF CART MARKET, BY PASSENGER CAPACITY
CHAPTER 5: AMERICA GOLF CART MARKET, BY TYPE
CHAPTER 6: AMERICA GOLF CART MARKET, BY CAPACITY
CHAPTER 7: AMERICA GOLF CART MARKET, BY FUEL TYPE
CHAPTER 8: AMERICA GOLF CART MARKET, BY APPLICATION
CHAPTER 9: AMERICA GOLF CART MARKET, BY COUNTRY
CHAPTER 10: COMPANY PROFILES
Executive Summary
According to the report titled,'America Golf Cart Market by Passenger Capacity, Type, Fuel Type, Application, And Capacity: Opportunity Analysis and Industry Forecast, 2019-2026,' the America golf cart market size was valued at $1,191.0 million in 2018, and is projected to reach at $1,627.6 million by 2026, growing at a CAGR of 3.9% from 2019 to 2026.At present, the U.S. dominates the America golf cart market followed by Canada, Mexico, Argentina, and others. However, Brazil is expected to grow at highest CAGR within the America golf cart market.
Automobile companies focus on the production of advanced golf carts that have lower particular emission and are of relatively low cost. The new Solo Rider technology and the adaptive golf cart designed for a single user allows disabled people to access the golf course and the game as well. Innovations such as extreme golf carts and solar power golf carts also boost the growth of the America golf cart industry. One of the most recent developments in the golf cart technology is the Golf Board, a golf cart that is inspired by the skateboard. The Golf Board is driven by front and back gear boxes providing power to all four wheels. The rider controls the vehicle in an upright position as if riding skateboard, leaning right or left to make turns. The Golf Board has been well received by the golfing community as it speeds up the game and according to the manufacturers has up to 75% less impact on turf than traditional golf carts. Such advancements for golf cart are expected to create numerous opportunities for the key players for America golf cart market growth.
There is a decrease in price of fuel cells with the advancement in technology and better operations. The price of batteries has decreased by 80% in the last 6 years. This is the favorable condition for increasing the sales of the golf carts which are powered by electricity. Further, while considering the onboard storage of energy, hydrogen has an edge over the Lithium-ion battery as it is stored in a high-pressure below the vehicle which offers increased mileage. Also, 1 kg of hydrogen cell is capable of storing 236 times more energy when compared with the Li-on battery. Therefore, it is an opportunity for the automobile industry followed by America golf cart market. This creates ample opportunities for the key players operating in the America golf cart market.
Key Findings of The America Golf Cart Market:
Based on type, the open type generated the highest revenue in the America golf cart market analysis in 2018.
Brazil is anticipated to exhibit the highest CAGR during the forecast period while considering market growth.
In year 2018, the electric fuel type led the America golf cart market trends.
The key players profiled in the America golf cart market share include Club Car (Ingersoll-Rand plc,), Garia, Hitachi Chemical Co., Ltd., Star EV (JH Global Services, Inc.), Columbia Vehicle Group Inc., Evolution Electric Vehicle (HDK electric vehicles), GEM (Polaris Industries Inc.), EZ-GO (Textron Inc.), ICON Electric Vehicles, Yamaha Golf-Car Company, Smart Cart Electric Vehicles, and Bintelli Electric Vehicles.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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