Automotive Golf Cart Market Growth Analysis & Future Forecast | Page 2

courses, the airports segment held the second highest market size and is believed to continue with its positive growth with CAGR of 7.03% over the period 2016-2023. Further, the growing hospitality sector due to rising tourism industry around the globe is encouraging the hotel industry to provide better services to their guests. This is believed to drive the hotels & resort segment to account for the third highest market share over the forecast period. In addition to that, this segment is believed to observe Y-o-Y growth rate of 4.90% in 2023. Get the Free Sample Report Of Golf Cart Market @ https://www.researchnester.com/sample-request-335 Growing Demand for Electric Powered Golf Carts to Escalate the Demand for Golf Carts in Future The global golf cart market is thriving on the back of increasing popularity of solar and electric powered golf carts around the globe. Low Maintenance Required – The demand for electric powered golf carts is predicted to increase in terms of volume owing to the advancements in the golf cart technology and low maintenance requirement. Rapid Urbanization – Rapid growth in urbanization is driving the growth of a number of state of the art residential societies with golf courses across the globe. Rapid Expansion of Hospitality Sector – The positive growth of the tourism industry is driven by the rise of hotels across the globe which is raising the expectations of tourists towards the hotel services and is further encouraging the hotel industry to provide better services to their guests.