In accordance with this study, the Global Golf Cart And NEV Market value registered in 2022 was close to USD 6 BN and is predicted to outstretch revenue by USD 14.64 BN in 2030 with a CAGR of 11.8% during the period of 2023-2030. Regarding volume, the market was calculated XX Million Units in 2022 and forecast to touch XX Million Units by 2030 with a CAGR of XX% during 2023-2030.
A golf cart or golf car is a small electric vehicle specially used for golf sport to carry golfers around the golf course. Neighborhood electric vehicle (NEV) is a small electric engine powered vehicle used for carrying people to a shorter distance. NEVs are widely used in public places such as railway junctions, commercial malls, etc. These vehicles use high-end digital technology which provides better performance & efficiency with reduced pollution effects.
Market Dynamics
The increasing utilization of golf carts across the golf course, as they are used to carry heavy golf equipment, is escalating the market growth. Additionally, increasing usage of NEVs at public places as they are used to carry walking disabled people is further pushing the market growth. On the contrary, the high initial cost associated with golf carts and NEVs hamper the market growth.
The report has been created by using crucial tools such as Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity. These tools also serve the detailed information of each application/product segment in the global market of golf cart and NEV.
Market Segmentation
The study offers a decisive view of the global golf cart and NEV market by segmenting it in terms of type and engine. The report analyzes these subsets with respect to the regional segmentation. This research study will prepare marketers for the evolving needs of their customers.
By Propulsion
- Gas Powered Engine
- Electric Powered
By Type
- Neighborhood Electric Vehicle (NEV)
- Golf Cart
Regional Analysis
This section covers golf cart and NEV market for the regions North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Regional segmentation has been done based on the present and future trends in the global golf cart and NEV market along with the individual application segment across all the prominent region.
Global Golf Cart And NEV Market Share by Region (Representative Graph)
This research report also includes profiles of major companies operating in the global market. Some of the prominent players operating in the global Golf Cart And NEV market are Bradshaw Electric Vehicles, Dongfeng Motor Group Ltd., E-Way Golf Cars and Garia A/S, Textron Inc., citEcar Electric Vehicles, DY Corporation, Ingersoll-Rand plc, Yamaha Motor Co. Ltd., Polaris Industries Inc., Yamaha Motor Co. Ltd., Garia A/S, Club Car LLC, Star Electric Cars (UH Global Services Inc.). This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.
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