Automotive Golf Cart Market Growth Analysis & Future Forecast

Global Golf Cart Market Demand Drive at a CAGR of 6.14% by Solar & Electric Powered Golf Carts by 2016-2023 A Recent Study by Research Nester Report titled “Global Golf Cart Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2016–2023” delivers detailed overview of the global golf cart market in terms of market segmentation by fuel type, by end-use industry and by region. The growing ecological concerns towards increasing fuel emissions are driving people to adopt for solar powered golf carts which is motivating various golf cart manufacturers to introduce solar powered golf carts. Apart from that, the demand for electric powered golf cart is predicted to increase in terms of volume during the forecast period. The high demand for solar and electric powered golf carts is attributed to the low maintenance requirement. These factors are predicted to positively impact the growth of the global golf cart market by expanding at a CAGR of 6.14% over the period 2016- 2023. Moreover, modern and customized golf carts with advanced technologies such as computer-aided design and computer-aided manufacturing to modify the overall product designs is predicted to supplement the expansion of the global golf cart market with significant valuation of around USD 4,159.4 Million by the end of 2023 rising its way up from USD 2,740.4 Million during 2016. The global golf cart market is segmented by end-use industry into golf courses, hotels & resorts, tourist destinations, airports, residential & commercial premises and other institutions, out of which, the golf courses segment accounted for dominant market share of 49.30% owing to the spiked demand for fuel efficient and advanced golf carts. Followed by golf