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02 Dec 2021, 17:33 GMT+10
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Golf Cart market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Golf Cart
The report offers actionable and valuable market insights of Golf Cart. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Golf Cart Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Golf Cart, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Golf Cart Market.
Global golf cart market is projected to grow at a value CAGR of more than 5% between 2019 and 2028, surpassing a valuation of US$ 4.4 Billion by 2028. Golf Carts are emerging as preferred variants owing to specifications such as simplicity in construction and high speed of up to 30 Km/h.
This is making golf carts safe vehicles to be used at public places such as railway stations, airports, and tourist spots. Golf carts are easy to operate and do not require trained personnel to operate them. Further, golf carts which fall under the category of electric vehicles, have power of less than 250 Watt and maximum speed of 25 Km/h are generally not categorized as motor vehicles.
Therefore they are not required to be registered which further boosts their demand. Furthermore, manufacturers are customizing golf carts for specific applications such as ambulance cart, trash cart, patrolling cart and food cart which is attracting customers. Leniency in government regulations, increasing functional benefits and modifications in golf carts, has boosted demand for golf carts.
Key Takeaways of Golf Cart Market
"Global golf cart market is primarily driven by the growing popularity of golf. The market is highly competitive in nature, with industry leaders continuously introducing new golf cart vehicles in order to maintain their hold over the market." Says Fact.MR's analyst
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Leading Manufacturers Exploring New Markets with Continuous Expansion of their Product Portfolio
Global golf cart market is highly competitive in nature. Leading manufacturers are introducing new products with enhanced properties and entering new geographies in order to expand their reach at new customer bases. For instance, in August 2019, Yamaha Golf Car Company started its distribution of its subsidiaries New England Golf Cars (NEGC) and MA and W&B Golf Carts, Inc. in Maine, New Hampshire and Vermont states of the US. Also, in January 2018, Club Car introduced a new golf cart Tempo Connect designed with automotive styling and Visage Fleet Management & Shark Experience.
Key Segments of the Golf Cart Market
Fact.MR's study on the golf cart market offers information divided into four key segments-product, operation, application, ownership and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Product
Operation
Application
Ownership
Region
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Key Question answered in the survey of Golf Cart market report:
More Valuable Insights on Golf Cart Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Golf Cart, Sales and Demand of Golf Cart, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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