DUBLIN--(BUSINESS WIRE)--The "America Golf Cart Market by Passenger Capacity, Type, Fuel Type, Application, and Capacity: Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to the report, the America golf cart market size was valued at $1,191 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.
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.
- 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.
Key Topics Covered
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Impacting Factors
3.2.2. Top Investment Pockets
3.2.3. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.4. Market Share Analysis (2018)
3.5. Market Dynamics
220.127.116.11. Growth in Population Coupled With Rise in Purchasing Power
18.104.22.168. Stringent Government Rules and Regulations Towards Vehicle Emission
22.214.171.124. Increase in the Number of Golf Courses and Country Clubs
126.96.36.199. High Initial Maintenance and Purchasing Cost
188.8.131.52. Low Power and Speed
184.108.40.206. Low Overall Drive Range
220.127.116.11. Technological Advancement for Golf Carts
18.104.22.168. Reduction in Cost of Fuel Cells and Batteries
Chapter 4: America Golf Cart Market, by Passenger Capacity
4.2. Two Passengers
4.3. Four Passengers
4.4. Six Passengers
4.5. Eight and More Passengers
Chapter 5: America Golf Cart Market, by Type
Chapter 6: America Golf Cart Market, by Capacity
6.2. Low Speed Vehicle (LSV), (Less Than 25 Mph)
6.3. Non-LSV (More Than 25 Mph)
Chapter 7: America Golf Cart Market, by Fuel Type
Chapter 8: America Golf Cart Market, by Application
8.2. Golf Course
8.3. Personal Service
8.4. Commercial Services
Chapter 9: America Golf Cart Market, by Country
Chapter 10: Company Profiles
10.1. Club Car (Ingersoll-Rand PLC)
10.3. Hitachi Chemical Co. Ltd.
10.4. Star EV (JH Global Services Inc.)
10.5. Columbia Vehicle Group Inc.
10.6. Evolution Electric Vehicle (HDK Electric Vehicles)
10.7. Gem (Polaris Industries Inc.)
10.8. Ez-Go (Textron Inc.)
10.9. Icon Electric Vehicles
10.10. Yamaha Golf-Car Company
10.11. Smart Cart Electric Vehicles
10.12. Bintelli Electric Vehicles
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