Golf Cart Market Strategies are analyzed thoroughly to understand the Competitive Outlook

A golf cart is a lightweight motorized vehicle used for the short-distance transportation of golfers around the golf course, and makes it easier for them to carry the required accessories.

Rapid growth in population and increase in globalization boost the economy, thus impacting the purchasing power of individuals. This in turn improves the standard of living, nature of expenses, and mode of transportation. These factors lead to innovation of hybrid and electric utility vehicles, thus fueling the demand for golf carts in the market.

According to a new report by Allied Market Research, titled, Golf cart Market by Product type and Application: Global Opportunities Analysis and Industry Forecast, 2017-2023, the golf cart market was valued at $ 1,607.75 million in 2016, and is projected to reach at $ 2,591.69 million by 2023, growing at a CAGR of 7.20% from 2017 to 2023.
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The features of golf carts such as windshields, radio, rear seats, and others make it suitable for golfers and for the personal usage in terms of safety and security. The different customized solutions by the vendors increase their usability across various end users such as hotels, airports, and others.
In 2016, electric golf cart segment dominated the market, in terms of revenue, due to increase in investment on building golf course infrastructure. North America was the highest revenue contributor to the golf cart market in 2016, accounting for around 38.76% share, owing to surge in demand for mobility for short distance across the villages and community areas.

The report features a competitive scenario of the golf cart market and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are Garia Inc., Hitachi Chemical Co. Ltd, Ingersoll Rand plc, JH Global Services, Inc., Maini Materials Movement Pvt. Ltd., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Textron Specialized Vehicles Inc., Tomberlin, Xiamen Dalle Electric Car Co. Ltd., and Yamaha Golf Car Company. These players have adopted competitive strategies such as innovation, new product development, and market expansion to boost the growth of the market.

Key Findings of the Golf Cart Market:
• The electric golf cart segment accounted for the highest share in 2016, growing at a CAGR of 7.80% from 2017 to 2023.
• Golf course segment generated the highest revenue, accounting for $724.88 million in 2016.
• North America is expected to dominate the market, in terms of market share, during the forecast period.

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LIST OF TABLES:

TABLE 01. GLOBAL GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 02. GLOBAL GOLF CART MARKET REVENUE FOR ELECTRIC GOLF CART, BY REGION, 2016-2023 ($MILLION)
TABLE 03. GLOBAL GOLF CART MARKET REVENUE FOR GASOLINE GOLF CART, BY REGION, 2016-2023 ($MILLION)
TABLE 04. GLOBAL GOLF CART MARKET REVENUE FOR SOLAR GOLF CART, BY REGION, 2016-2023 ($MILLION)
TABLE 05. GLOBAL GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 06. GLOBAL GOLF CART MARKET REVENUE FOR GOLF COURSE, BY REGION, 2016-2023 ($MILLION)
TABLE 07. GLOBAL GOLF CART MARKET REVENUE FOR PERSONAL SERVICES, BY REGION, 2016-2023 ($MILLION)
TABLE 08. GLOBAL GOLF CART MARKET REVENUE FOR COMMERCIAL SERVICES, BY REGION, 2016-2023 ($MILLION)
TABLE 09. GLOBAL GOLF CART MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 10. NORTH AMERICA GOLF CART MARKET REVENUE FOR PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 11. NORTH AMERICA GOLF CART MARKET REVENUE FOR APPLICATION, 2016-2023 ($MILLION)
TABLE 12. NORTH AMERICA GOLF CART MARKET REVENUE, BY COUNTRY 2016-2023 ($MILLION)
TABLE 13. U.S. GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 14. U.S. GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 15. CANADA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 16. CANADA GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 17. MEXICO GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 18. MEXICO GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 19. EUROPE GOLF CART MARKET REVENUE FOR PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 20. EUROPE GOLF CART MARKET REVENUE FOR APPLICATION, 2016-2023 ($MILLION)
TABLE 21. EUROPE GOLF CART MARKET REVENUE, BY COUNTRY 2016-2023 ($MILLION)
TABLE 22. UK GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 23. UK GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 24. GERMANY GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 25. GERMANY GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 26. FRANCE GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 27. FRANCE GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 28. RUSSIA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 29. RUSSIA GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 30. REST OF EUROPE GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 31. REST OF EUROPE GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 32. ASIA-PACIFIC GOLF CART MARKET REVENUE FOR PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 33. ASIA-PACIFIC GOLF CART MARKET REVENUE FOR APPLICATION, 2016-2023 ($MILLION)
TABLE 34. ASIA-PACIFIC GOLF CART MARKET REVENUE, BY COUNTRY 2016-2023 ($MILLION)
TABLE 35. CHINA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 36. CHINA GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 37. INDIA GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 38. INDIA GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 39. JAPAN GOLF CART MARKET REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 40. JAPAN GOLF CART MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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