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Golf Cart and NEV Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020

Golf Cart and NEV Industry: Forecasts to 2020

  • March 2015
  • 69 pages
  • ID: 2878112
In this report:
The global golf cart and NEV market is expected to witness substantial growth during the forecast period.
The developing economies like India, China, Brazil, Indonesia and others are expected to generate further demand for golf cart and NEV market in the coming years.
The study is expected to help the electric vehicle manufacturers to formulate and develop new strategies.

Summary

Table of Contents

Golf carts and NEVs are the low speed vehicles which are used for brief distant commuting in the golf courses and vicinities. The main applications of these vehicles are in golf courses, hotels, parks, residential and commercial premises, institutions, tourist destinations and airports among others. These vehicles run on gas powered engines as well as electric powered engines. The electric powered vehicles have more demand globally over the gas powered vehicles as the electric golf carts and NEVs are technologically advanced and can be superior customized with respect to the gas powered golf carts and neighborhood vehicles.

The overall golf cart and NEV market is forecast to witness substantial growth during the outlook period. The increase in demand for electric vehicles due to their eco-friendly features is stimulating the market demand for golf carts and NEVs globally. Need for environment friendly vehicles are increasing in every region among the frequent masses. Different governments globally are adopting strict regulatory guidelines for controlling vehicular pollution. Additionally, the growing fuel prices across the globe and the increasing affinity towards technologically advanced vehicles are also influencing the growth of this market. High disposable income in countries including the U.S., Canada (CA), the United Kingdom, France (FR), Italy (IT), Germany (DE) and Japan (JP) is influencing the growth of golf cart and NEV market positively.

The developing economies such as India (IN), China (CN), Brazil (BR), Indonesia and others are anticipated to generate farther demand for golf cart and NEV market in the next years. With technological advancement in the electric golf cart industry, additional products are being developed by the manufacturers with superior efficiencies, functionalities, customizations and reduced pollution effects. The golf carts and NEVs have demand in most of the industries including real estate, hotels, golf courses and others. There are some challenges which the industry encounters and few of those have high impacts at present including lack of optimal infrastructure. Nevertheless, it is expected that the impact of these factors is forecast to become low during the forecast period.

In this industry report, the segment has been split based on product class, engine type and area. It also comprises drivers, market restraints and alternatives, Porter's five forces analysis and value chain of the golf cart and NEV market. The report features current market trends and offers the outlook from 2014 to 2020. The market research includes the current market scenario for golf cart and NEVs and highlights next trends that could influence the industry demand for the same. The overall golf cart and NEV market is forecast to observe a steady increase rate from 2014-20120.

By territory, the sector has been divided into north america, Europe (EU), Asia Pacific (APAC) and Rest of the globe. Established on the product types, the industry has been classified into golf carts and NEVs. The market value and estimate from 2014 to 2020 have been specified in the industry report.

The study also analyzes macroeconomic factors influencing and inhibiting the growth of the golf cart and NEV market. Five forces analysis affords insight into the market competition overall its value chain. The Analysis of market appeal specified in the analysis features top investing areas in this industry. The market research will help manufacturers, providers and distributors understand the present and future trends in this industry and formulate their strategies accordingly.

This analysis includes the profiles of main players in the sector and the strategies approved by them to sustain in the competition. Recent evolutions and barriers of the market are anticipated to help emerging players to design their strategies in an effective manner. The market research is forecast to help the electric vehicle manufacturers to formulate and develop additional strategies. The key participants in this sector are Textron Inc., Ingersoll Rand Corp., Yamaha Golf Car Company, Dongfeng Electric Vehicles Co., Ltd, Dongyang Mechatronics Corp. and Bradshaw Electric Vehicles.

Overall Golf cart and NEV Market: By Types, 2014 - 2020

Golf Carts

Neighborhood Electric Vehicles

Overall Golf cart and NEV Market: By Engines, 2014 - 2020

Gas powered engines

Electric powered engines

Overall Golf cart and NEV Market: By Area, 2014 - 2020

North America (NA)

Europe (EU)

Asia-Pac

Rest of the globe

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