Golf cart is a type of low speed vehicle driven by electric motors, which is gas-powered or is specifically envisioned for utilization in golf courses for transportation of golfers and the equipment within the course premises. It is also known as non-highway or off-road vehicle with an average speed between 25 and 50 kmph.
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The America golf cart industry is segmented based on passenger capacity, type, fuel type, application, capacity, and region. Passenger capacity segment includes two passengers, four passengers, six passengers, and eight and more passengers. Based on type, it is bifurcated into open and enclosed. Based on fuel type, the America golf cart market is segmented into gasoline and electric. Based on application, it is categorized into golf course, personal service, and commercial services. Moreover, the commercial services segment is further segmented in to applications such as resorts, rental shuttle or taxi, universities, airports, hospitals, entertainment amusement parks, convention centers, sports stadiums, and zoos. Based on region, the America golf cart market share is analyzed across America.
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TOP IMPACTING FACTORS
The significant impacting factors in the growth of the America golf cart market include increase in population coupled with rise in purchasing power, stringent government rules and regulations toward vehicle emission, and surge in the number of golf courses and country clubs. In addition, the America golf cart market analysis is influenced by high initial maintenance and purchasing cost, low power and speed, low overall drive range, technological advancement for golf carts, and reduction in cost of fuel cells and batteries. Each of these factors is anticipated to have a definite impact on the America golf cart market during the forecast period.
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Growth in population coupled with rise in purchasing power
There has been an increase in the global population; and today, the global population in 2018 has crossed 7.6 billion. Every year, the world population grows approximately by 43 million. This boom in population has created many opportunities for many businesses and this is also true for the America golf cart market. This is owing to the demand for compact and maneuverable vehicles that occupy small parking space. Globalization on the other hand helps organizations develop international influence and this influence has helped change the outlook of different countries and region. Globalization has helped people to vouch for a different and better lifestyle; it has encouraged the people to spend more and get the best service possible. This drives the growth of the America golf cart market.
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Key Benefits for America Golf Cart Market:
- This study comprises analytical depiction of the America golf cart market trends with current trends and future estimations to depict the imminent investment pockets.
- The overall potential is determined to understand the profitable trends to gain a stronger foothold.
- The America golf cart market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current growth and forecast is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
- The study also comprises the America golf cart market opportunity which will help key players in decision making.
- America golf cart market forecast report highlights the potential opportunities for the market expansion.
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