Golf cart battery: Key market research findings
- Increased adoption of golf carts for daily commuting
- Use of latest technologies
Technavio has added a new market research report on the golf cart battery market, which is expected to grow at a CAGR of around 4% between 2015 and 2019. Besides golf courses, these golf cart batteries are gaining prominence in clubs, hotels, resorts, and shopping malls, owing to their low noise operation and zero-emission features. The Americas dominate the market for gold cart batteries as it hosts the largest number of golf courses and is home to major golf cart manufacturers across the world. The region occupies around 49% of the total market share owing to power propulsion battery demand in electric golf carts.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the interesting trends gaining traction in the market is the increased usage of golf carts for daily commuting. The fluctuating fuel prices and stringent emission regulations across the world has led to their on-road use. These carts are low cost and energy efficient and are used for daily needs like shopping and recreational purposes. Also, the governments are making amendments to allow golf carts on roads, which will increase the use of golf carts for domestic purposes,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
The manufacturers are coming up with latest technological advancements in the golf carts models to enhance customer experience. These carts are now equipped GPS applications that assist with the club choice. Recently, Yamaha launched its Drive AC golf cart which delivers more voltage while drawing less current during charging. Also, the researchers are focusing on using fewer gears in the golf carts while relying on computation-efficient algorithms.
The leading vendors in the golf cart battery market include Axion Power International, Crown Battery, East Penn Manufacturing, Exide Technologies, EnerSys, Navitas System and Trojan Battery. The market is highly diverse with the presence of several international and domestic motive lead-acid battery providers. Leading vendors provide cost-effective lead-acid batteries with limited features and functionalities. Moreover, to survive competition, the new and existing vendors must manage their sales, distribution, and working capital effectively, owing to the high volatility of the market dynamics for lead-acid batteries.
A more detailed analysis is available in the Technavio report, Golf Cart Battery Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
- Global Golf Cart Market 2015-2019
- Global Golf Apparel Market 2015-2019
- Global Golf Equipment Market 2015-2019
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