Latest Trends of Golf Cart Market 2018 Opportunity
Assessment By 2026
Golf Cart Market research provides industry analysis by type,
manufacturer, application along with key factors influencing the
growth of the market which include growth drivers, restraints,
opportunities and challenges, strategically profile key players and
comprehensively
analyze
their
market
share
and
core
competencies.
The global golf cart market was valued at US$ 3,262.3 million in 2016 and is projected to exhibit
a CAGR of 5.95% during the forecast period (2017–2025), reaching US$ 5,590.0 million by 2025.
Growing urbanization and industrialization are some of the factors driving growth of the global
golf cart market. However, high initial costs associated with golf carts is major factor hindering
growth of the market. Moreover, lack of infrastructure for charging points of golf carts in
emerging economies hinders growth of the golf cart market.
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The increasing urbanization and industrialization in emerging economies have fueled
growth of the golf cart market
Increasing urbanization and industrialization in various emerging economies such as South
Korea, Brazil, South Africa, China, and India are expected to boost mall culture, theme parks,
amusement parks, and smart housing projects, among others. This is expected to increase
demand for golf carts for internal transportation in malls to carry goods and people. Furthermore,
increasing demand for customized products related to seating capacity and vehicle aesthetics
have provided immense opportunities for market players.