Major golf cart market participants include Polaris Industries, Inc., G H Varley Pty Limited, STAR EV CORPORATION, Cario, Ltd., E-Z-GO, Hawk Carts, Garia, KT Pan Company Limited, HDK Electric Vehicle, and Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd, among others.
Selbyville, Delaware, Nov. 02, 2022 (GLOBE NEWSWIRE) -- China Electric Cart
The golf cart market is expected to record a valuation of USD 3 billion by 2032, according to a new research report by Global Market Insights Inc. An increase in natural grassland capacity and the increase in the construction of public and private golf courses are key growth drivers, especially in France, Scotland, England, and other European markets.
The availability of naturally occurring grasslands in these European countries makes them ideal golfing destinations, mainly in terms of drainage. Over the years, the rate of household savings has also been rising across this region. Based on data from Eurostat, in Q1 of 2022, the household saving rate was recorded at 15%, a rise from the 14.1% recorded in the Q4 of 2021. Furthermore, due to the expanding middle-class population, participation in golfing activities will surge, creating a strong demand for custom golf carts worldwide.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3285
Use in long-range applications to augment gas-powered golf carts production
The gas fuel segment accounted for 35% share of the golf cart market in 2022, given the mounting demand for golf carts with powerful engines from hotels, resorts, and golf clubs. Gas golf carts are used commonly in large golf courses, considering their long-range and high-speed features. The strong presence of Yamaha, Polaris Industries, Hawk Carts, and other companies involved in the development of gasoline-powered vehicles is expected to further increase their usage in various long-range applications across the globe.
Rise in funding for sports infrastructure improvement to enhance golf course operations
China Mini 4 Seats Golf Car Based on the application, the golf cart market from golf courses segment is estimated to attain more than 5% CAGR through 2032. The increasing number of people indulging in leisure and recreational activities is one of the key contributor