Golf Cart And NEV Market Report 2019 Foresees the Market to reach USD 3944.3 MN by 2026
Posted On October 15, 2020
The report by Value Market Research on the Global Golf Cart And NEV Market anticipates the market growth to reach CAGR of 6% during 2020-2026. The market was valued close to USD 2623.2 MN in 2019 and is expected to reach USD 3944.3 MN by 2026. Golf cart and NEV are a new class of budget-friendly electric alternatives to traditional utility vehicles. The growing interest in low-speed, quiet, budget-friendly, low emission electric vehicles for shorter trips is the critical trend propelling this market’s growth. The convenient, comfortable driving and parking in smaller spaces will make these vehicles an attractive option for college campuses, security patrols, resorts, etc. These vehicles best suited for short trips for shopping, social, and recreational purposes among the rapidly growing urban community will be a market booster. The barricades destroying this market’s growth are rising conflicts between state, local, federal traffic laws, and safety concerns regarding these vehicles’ use.
Golf cart and neighborhood electric vehicles (NEV) are small battery-electric vehicles used for short hops around town. These vehicles are effortless to maneuver and park due to their small size. They provide many of the comforts of a regular car, safety features like a substantial roll cage and seat belts, along with a minimal physical and environmental footprint. Both these vehicles are restricted to a maximum speed of 25 mph, a maximum passenger weight of 3,000 pounds, and cannot be driven on roads with a speed limit greater than 30 to 45 mph. They come in various shapes, and the battery pack of these vehicles is recharged by plugging into a standard outlet.
The report “Global Golf Cart And NEV Market Report By Type (Golf Carts And Neighborhood Electric Vehicles (NEV)), Engine (Gas Powered Engine And Electric-Powered Engine) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" covers the market introduction, key market statistics followed by in-depth regional revenue/or volume analysis. The report analyses the trends of the past years along with deeply studying the geo-political trends, thus authenticating the findings of the research and making it more reliable.
On the basis of type the market is segmented into Golf Carts, Neighborhood Electric Vehicles (NEV). By engine the golf cart and nev market is categorised as Gas Powered Engine, Electric-Powered Engine .North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa are the regions covered in the report. This geographical section of the report highlights the share of the revenue/volume spread globally.
The Report Segments Global Golf Cart And NEV Market -
- Golf Carts
- Neighborhood Electric Vehicles (NEV)
- Gas Powered Engine
- Electric-Powered Engine
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Bradshaw Electric Vehicles, CitEcar Electric Vehicle, Dongfeng Electric Vehicle Co. Ltd., Dongyang Mechatronics Corp., E-Way Golf Cars, Garia A.S., Ingersoll Rand Crop., Polaris Industries Inc., Textron Inc., and Yamaha Golf Car Company.
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