This report studies the Golf Cart and NEV market size (value and volume) by players, regions, product types and end industries, history data 2013-2017 and forecast data 2018-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
Golf Cart and NEV are used by golfers to carry heavy golf clubs and equipment. They are also used for daily commuting needs over short distances. Golf Cart and NEV are usually gasoline-powered or electric, but recently solar-powered Golf Cart and NEV have also been developed. Electric Golf Cart and NEV have more preference among consumers.
Golf Cart and NEV come in a wide range of formats and are more generally used to convey small numbers of passenger short distances at speeds less than 15 mph (24 km/h) per ANSI Standard z130.1 as originally manufactured. They are generally around 4 feet (1.2 m) wide × 8 feet (2.4 m) long × 6 feet (1.8 m) high and weigh 900 pounds (410 kg) to 1,000 pounds (450 kg). Most are powered by 4-stroke engines.
The price of a Golf Cart and NEV can range anywhere from under US$1,000 to well over US$20,000 per cart, depending on several factors. These factors may include whether or not a fleet of carts is being purchased for a golf course or a country club, for example, and whether the carts are new or used. Other factors may include options such as equipment requirements, and how many people the cart is meant to transport. With the rise in popularity of Golf Cart and NEV, many golf clubs or country clubs offer storage and energy options to Golf Cart and NEV owners. This has led to the modification of Golf Cart and NEV to suit use at the particular golf course. Typical modification includes windshields, ball cleaners, cooler trays, upgraded motor or speed controller (to increase speed and/or torque), and lift kits.
Originally Golf Cart and NEV were electrically powered, but in time gasoline-powered variants started to occur. The electric variety is now used in many communities where their lack of pollutants, lack of noise, and safety for pedestrians and other carts (due to slow speeds) are beneficial. When purpose-built for general transportation these are called Neighborhood Electric Vehicles (NEVs), but with various operating limitations such as top speed and heavy regulation on which type of streets these types of carts are permitted to be used. These may resemble the Golf Cart and NEV shown above, although some are now being made with all-weather car-like bodies.
The technical barriers of Golf Cart and NEV are high, and the Golf Cart and NEV market concentration degree is relatively higher. The manufacturing bases concentration around the world in terms of geography; some of the key players dominating this market are Yamaha Golf Cars, Textron, Columbia CarPar, Ingersoll Rand, Shenzhen Marshell Green Power, and others.
The main threat facing the company is the sturdiness of the competition within the market. The product will not be trying to replace solutions already on the market, however; competing with companies like Yamaha Motor and Club Car could be a real threat for a small startup companies.
In the past few years, as the main raw material price was relatively stable, with the addition of a sharp increase in production capacity, expected that the Golf Cart and NEV raw material price will be stable in the short term. However, the improvement of energy, transportation costs, and employee wages, will play a significant role in promoting the cost of Golf Cart and NEV.
The global Golf Cart and NEV market was 4470 million US$ in 2017 and is expected to 5610 million US$ by the end of 2025, growing at a CAGR of 2.9% between 2018 and 2025.
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Golf Cart and NEV in these regions, from 2013 to 2025, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil etc.)
Middle East and Africa (Egypt and GCC Countries)
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include
Yamaha Golf Cars
Columbia Vehicle Group/Tomberlin
Shenzhen Marshell Green Power
Melex Golf Cars
Dongguan Excellence Golf & Sightseeing Car
CitEcar Electric Vehicles
Zhuhai E-Way Electrical Industry
By the product type, the market is primarily split into
By the end users/application, this report covers the following segments
Parks & Tourist Destinations and Hotels
Residential and commercial premises
We can also provide the customized separate regional or country-level reports, for the following regions:
Rest of Asia-Pacific
Rest of Europe
Central & South America
Rest of Central & South America
Middle East & Africa
Rest of Middle East & Africa
The study objectives of this report are:
To study and analyze the global Golf Cart and NEV market size (value & volume) by company, key regions/countries, products and application, history data from 2013 to 2017, and forecast to 2025.
To understand the structure of Golf Cart and NEV market by identifying its various subsegments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Golf Cart and NEV manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Golf Cart and NEV with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Golf Cart and NEV submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
In this study, the years considered to estimate the market size of Golf Cart and NEV are as follows:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2025
This report includes the estimation of market size for value (million USD) and volume (Cars). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Golf Cart and NEV market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Raw material suppliers
Regulatory bodies, including government agencies and NGO
Commercial research & development (R&D) institutions
Importers and exporters
Government organizations, research organizations, and consulting firms
Trade associations and industry bodies
With the given market data, QYResearch offers customizations according to the company's specific needs. The following customization options are available for the report:
Further breakdown of Golf Cart and NEV market on basis of the key contributing countries.
Detailed analysis and profiling of additional market players.