London, 07 January 2015 – TechNavio has announced the publication of a new market research report on the Global Golf Cart Market, which is expected to grow at a CAGR of 4.29 percent from 2015-2019.
About the Report
The report indicates that higher incomes, improved economic conditions and changing consumer lifestyles are the main factors impacting market growth.
“As income levels increase worldwide, the participation rate in golf is also increasing, which is affecting the popularity of the game,” says Faisal Ghaus, Vice President of TechNavio.
“Golf as a sport has also undergone several changes to suit evolving consumer needs, like development of the nine-hole golf course. Moreover, there is an increased participation from both the genders.”
The focus of vendors in the Global Golf Cart Market has shifted to finding ways to extend the life of li-ion batteries. These batteries have many advantages like low maintenance, high energy density, low self-discharge and can also be used for very high current applications like power tools.
“With the improved features and advantages of li-ion batteries, vendors are increasingly using them in newer models of golf carts, which is expected to boost the overall market growth,” says Ghaus.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2019
Market Growth Drivers:
- Increase in Disposable Income of Consumers
- For a full detailed list, view our report.
Market Challenges:
- Lack of Infrastructure Facilities for Charging
- For a full detailed list, view our report.
Market Trends:
- Consumers’ Lifestyle Changes
- For a full detailed list, view our report.
Key Vendors:
- Columbia ParCar Corp.
- Ingersoll Rand plc
- Textron Inc.
- Yamaha Golf Cars
Other Prominent Vendors:
- Auto Power
- Garia
- Melex Electrovehicles
- Nanning South Machine Power
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