LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global golf cart market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global golf cart market is divided into electric and gasoline segments. The electric golf cart segment has the majority, with a market share of over 71%. Long lasting, energy efficient, and eco-friendly golf cart batteries made of mainly Lithium-ion are the driving force behind the popularity of the segment.
Columbia ParCar is one of the leading vendors in the market space, specializing in long-lasting, eco-friendly products. It manufactures a range of zero emission vehicles and has some of the cleanest manufacturing processes, which comply with all governmental guidelines. The company currently enjoys one of the strongest footholds in the global market due to these factors.
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The top three emerging trends driving the global golf cart market according to Technavio research analysts are:
- Technologically advanced golf carts
- Growing popularity of FootGolf
- Multipurpose usage of golf carts
Technologically advanced golf carts
Golf equipment manufacturers are launching modern and customized golf carts and using advanced technologies, such as computer-aided design and computer-aided manufacturing for developing and modifying their product designs. Manufacturers are increasingly offering solar powered golf carts with high-end accessories, such as golf robots, launch monitors, and remote control capabilities.
“Country clubs and public golf courses have realized that golf carts play an important role in bringing in new clientele. This has resulted in the procurement of golf carts that offer luxurious amenities, including hole-to-hole GPS trackers and apps that help players select the best clubs for each position on the course,” says Brijesh Kumar Choubey, one of the lead analysts at Technavio for outdoor gear research.
Growing popularity of FootGolf
FootGolf is a new game that is a combination of golf and football. It is quickly gaining popularity across the globe, with the US showing the quickest growth. The World's first Pro-Am FootGolf Tour saw participation from around 100 teams from various geographies. FootGolf has helped many golf courses to revive themselves financially, thereby indirectly contributing to the growth of the global golf cart market.
Multipurpose usage of golf carts
“Golf carts are versatile and energy-efficient vehicles, which can be used outside the golf course for commuting purposes. Manufacturers of golf carts are quickly capitalizing on this opportunity by adding features such as hard doors, stereos, and even heaters and defrosters to make these carts suitable for use on public roads,” says Brijesh.
In the US, the elderly population finds golf carts a good commute option. In India, the government is introducing golf carts in public spaces to aid the differently-abled and elderly population with their daily commutes. Such initiatives will bring in significant revenue to the market through the forecast period.
Browse Related Reports:
- Global Golf Equipment Market 2016-2020
- Global Golf Clubs Market 2016-2020
- Global Golf Rangefinder Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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