The rising demand
for electric vehicles for short distance and low speed commute is the
primary factor driving the global golf cart and neighborhood electric
vehicles (NEV) market, according to a report published by
Transparency Market Research. The report, titled “Golf
Cart and NEV Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2014 - 2020”, indicates that
expanding at a 6.6% CAGR from 2014 to 2020, the global golf cart and
NEV market is projected to grow from US$1.79 billion in 2013 to
US$2.81 billion by 2020.
Global Golf
Cart
And
NEV Market
was valued at USD 1.79 billion in 2013, growing at a CAGR of 6.6%
from 2014 to 2020. Golf carts are the gas powered or electric engine
powered low speed vehicles used to commute in the golf courses and
local vicinities. NEVs are the electric engine powered vehicles used
for short distance commuting. Golf cart and NEVs utilize high end
digital technology for providing better performance and efficiency
with reduced pollution effects. These vehicles have multiple
applications in various industries globally.
Get FREE Sample
PDF file of Golf Cart and NEV Market :
The global golf cart
and NEV market is segmented by region into North America, Europe,
Asia-Pacific (APAC) and Rest of the World (RoW). This market is
primarily driven by growing awareness for pollution free vehicles
worldwide. High degree of technological advancements in developed
and developing countries such as the U.S., the U.K., France, Germany,
China and Japan among others is also contributing to the growth of
golf cart and NEV market globally.
Geographically,
North America led the golf cart and NEV market in 2014 and the region
is expected to continue its dominance in 2020. The region’s
dominance is due to advancement in technology and rejuvenation of the
golf industry the U.S. and Canada. Moreover, increasing fuel prices
globally and affinity towards environment friendly technology are
further contributing to the growth of the golf cart and NEV market.
Europe and Asia Pacific followed North America in the global golf
cart and NEV market to collectively account for more than forty
percent of the global market revenue share.
Browse The Market
Research Report of Golf Cart and NEV Market :
The golf cart and
NEV market is segmented on the basis of engine types into gas powered
and electric powered. On basis of type, the market is segmented into
golf carts and NEVs. Among all, cleaner vehicular solutions with
modern technological functionalities for regular short distance
travel purposes are the primary objectives for the golf cart and NEV
manufacturers.
The major
companies functioning in the global golf cart and NEV market
are Textron Inc., Yamaha Golf Car Co., Ingersoll Rand Corp., Dongfeng
Electric Vehicle Co. Ltd., Dongyang Mechatronics Corp., Polaris
Industries Inc., citEcar Electric Vehicle, Bradshaw Electric
Vehicles, E-Way Golf Cars, and Garia A.S.
On a whole, the
global golf cart and NEV market looks flourishing. However, the
slowdown in the golf industry, triggered by the dearth of appropriate
infrastructure, is likely to hamper the growth of this market
significantly.
Browse Article of
Golf Cart and NEV Market :
About Us :
Transparency Market Research is a global market intelligence company,
providing global business information reports and services. Our
exclusive blend of quantitative forecasting and trends analysis
provides forward-looking insight for thousands of decision makers.
Our experienced team of Analysts, Researchers, and Consultants, use
proprietary data sources and various tools and techniques to gather,
and analyze information.
Our data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
No comments:
Post a Comment