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Thursday, 11 February 2016

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

Golf carts and NEVs are the low speed vehicles which are used for short distant commuting in the golf courses and vicinities. The major 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 better customized with respect to the gas powered golf carts and neighborhood vehicles.

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The global golf cart and NEV market is expected to witness substantial growth during the forecast period. The increase in demand for electric vehicles due to their eco-friendly features is stimulating the demand for golf carts and NEVs globally. Need for environment friendly vehicles are growing in every region among the common masses. Various governments globally are adopting stringent regulatory guidelines for controlling vehicular pollution. In addition, the rising fuel prices across the world and the growing affinity towards technologically advanced vehicles are also influencing the growth of this market. High disposable income in countries such as the U.S., Canada, the U.K., France, Italy, Germany and Japan is influencing the growth of golf cart and NEV market positively.

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. With technological advancement in the electric golf cart industry, new products are being developed by the manufacturers with better efficiencies, functionalities, customizations and reduced pollution effects. The golf carts and NEVs have demand in most of the industries such as real estate, hotels, golf courses and others. There are some challenges which the industry encounters and few of those have high impacts at present such as lack of optimal infrastructure. However, it is expected that the impact of these factors is expected to become low during the forecast period.

In this report, the market has been segmented based on product type, engine type and geography. It also includes drivers, restraints and opportunities (DROs), Porter’s five forces analysis and value chain of the golf cart and NEV market. The study highlights current market trends and provides the forecast from 2014 to 2020. The report covers the current market scenario for golf cart and NEVs and highlights future trends that could influence the demand for the same. The global golf cart and NEV market is expected to observe a steady growth rate from 2014-20120. for more....

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