United States is leading with majority of shares in the Golf Cart Market and is Expected to Witness Growth
Increasing demand for zero emission vehicles and usage in multiple
industry applications are factors majorly driving the growth of North America golf
cart market in the forecast period 2024-2028.
According to TechSci
Research report, “North America Golf Cart Market – By Region, Competition,
Opportunity, and Forecast, 2018-2028F,” The North
American golf cart market is expected to experience a significant increase in
sales over the next few years, where it is majorly driven by the growing
utilization of golf carts for a variety of purpose. Furthermore, many golf cart
manufacturers provide golf carts configured as small utility vehicles (UTVs),
which were initially intended for golf course use. UTVs are available in a wide
range of configurations, including small golf carts designed for pickup beds,
flatbeds, dump style beds, van boxes, coolers, and cabinets. As a result, golf
cart manufacturers are investing in a broad range of products for a variety of
applications in order to increase their sales in the North America region. The North
American golf cart market is witnessing a surge in demand for electric golf carts,
due to the stringent emission regulations implemented by North American
governments in order to meet sustainable environmental objectives. Electric
golf carts are battery-powered that emit significantly fewer emissions than
gasoline vehicles and are widely used in large resorts, gated communities, and
golf courses. In addition to being simple and easy to use, this shift towards
sustainability combined with higher vehicle prices and higher gas prices, make
golf carts even more affordable from an economic standpoint. Furthermore, many golf
cart manufacturers offer custom-made vehicles, which in turn, leads to a surge
in sales in the region. In addition to the aforementioned custom accessories,
improved sound system and features further increase the demand among consumers.
Additionally, many new and established companies are offering conversion
services as well as retrofitting equipment to open up a vast market for
eco-friendly vehicles. Also, with advancement in technology and design, golf
carts can contribute to more than just golf courses, such as transportation in
surrounding communities, industrial facilities, and private estates.
Many companies
are investing and collaborating with other industries to get ahead in the golf
cart market in North America region. For example, Club Car, which is the world’s
top producer of electric small-wheel vehicles, announced in March 2023 that
they will be launching Club Car urban LSVs and Club Car XRs through their North
American commercial distribution network. They also announced Club Car CRU, an electric
vehicle, in March 2023. Also, in January 2023, Yamaha Motors announced that
Club Car, one of the world leaders in golf, would be renewing and expanding its
partnership with the Professional Golfers’ Association (PGA).
Browse more than XX market data Figures spread
through XX Pages and an in-depth TOC on “United States Golf Cart Market”
The
North America Golf Cart Market can be segmented by Propulsion,
by Application and by Country. Based on propulsion, the market is segmented into
Electric, Gasoline, and Solar. Further, on the basis of application, the market
is divided into Golf Course, Personal Services, and Commercial Services. The
market analysis also studies the country-wise segmentation to devise the market,
divided among United States, Canada, Mexico.
Some of the major companies operating in the United States golf cart
market include:
- Yamaha Motor
Co. Ltd.
- Platinum
Equity Advisors LLC
- Textron
Specialized Vehicles Inc.
- Garia Inc.
- Nordic Group
of Companies Ltd.
- JH Global
Services Inc.
- Cruise Car
Inc.
- Showa Denko
- Elite Golf
Carts
- Suzhou Eagle
Electric Vehicle Manufacturing Co. Ltd.
These are the key players
developing advanced technologies and launching new products to stay competitive
in the market. Other competitive strategies include mergers with tech firms,
new product developments, and marketing activities to increase customer outreach.
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“With an increase in the popularity
of golf cart and rapidly developing EV industry is leading to rise in demand of
such carts in the the North America Golf Cart Market. Furthermore, on basis of
application, commercial services have higher CAGR in the forecast period and is
expected to lead the North America golf cart market by 2028.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“North America Golf Cart Market Segmented By
Propulsion (Electric, Gasoline, Solar), By Application (Golf Course, Personal
Services, Commercial Services), By Country (United States, Canada, Mexico),
Competition, Forecast & Opportunities, 2018- 2028F” has evaluated the future
growth potential of United States golf cart market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the United States Golf Cart
Market.
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