resorts, and golf courses, which
in turn is expected to result in
high demand for golf carts.
However, the global golf cart
market is expected to face
certain challenges. Electric
golf carts are equipped with a
large set of lead-acid batteries.
These batteries have numerous
maintenance requirements and
are relatively less efficient and
require frequent recharging.
Golf cart motor is another com-
ponent with high maintenance
requirement. These factors es-
calate significant maintenance
costs that are likely to adversely
impact the growth of the electric
golf cart segment, subsequently
restricting revenue growth of
the global golf cart market.
On the basis of product type,
the electric golf carts segment is
anticipated to continue to dom-
inate the market in terms of
value over the forecast period.
On the basis of application, the
golf course segment is anticipat-
ed to dominate the market in
terms of value and volume. This
segment accounted for 49.0%
volume share in 2015. The
personal use application seg-
ment is anticipated to witness
robust growth in terms of value
and volume over the forecast
period. In terms of volume, the
personal use segment is expect-
ed to expand at a CAGR of 5.7%
over the forecast period
share. The growth of this seg-
ment is due to cost effective-
ness of rented services provided
by golf carts manufacturers. The
powered golf carts product type
segment is expected to domi-
nate the market both in terms
of value and volume throughout
the forecast period. The seg-
ment is expected to be the most
attractive in terms of CAGR and
market share. North America
and APEJ are estimated to col-
lectively account for 63.4% value
share in the global golf cart
market by the end of 2016. The
North America golf cart market
is expected to remain dominant
over the forecast period. This
growth is due to high demand
for golf carts in various end use
applications such as golf cours-
es, hotels/resorts, airports and
industries. Mexico is expected
to hold dominant revenue share
in the Latin America golf cart
market over the forecast peri-
od. Deployment of golf carts in
Western Europe is expected to
increase to 63,315 units by 2026
end from 40,323 units in 2016.
The report highlights some of
the top companies operating in
the global golf cart market such
as E-Z-GO, Columbia ParCar
Corp, Yamaha Golf-Car Compa-
ny, Club Car, LLC., EverGreen
Electrical Vehicles, Xiamen Dalle
Electric Car Co., Ltd, Hitachi
Chemical Co., Ltd., Maini Mate-
rial Movement Pvt. Ltd., Garia
Luxury Golf Car and Cruise Car,
Inc.
Request For Report Sample@
https://www.futuremarketin-
sights.com/reports/sample/rep-
gb-230
On the basis of ownership, the
fully owned segment is expect-
ed to be the most attractive
in terms of CAGR and market
AUGUST 2018
25