LONDON, April 23, 2015 /PRNewswire/ -- 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.
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.
By geography, the market has been segmented into North America, Europe, Asia
Pacific and Rest of the World (RoW). Based on the product
types, the market has been categorized into golf carts and NEVs.
The market size and forecast from 2014 to 2020 have been provided
in the report.
The report also analyzes macroeconomic factors influencing and
inhibiting the growth of the golf cart and NEV market. Porter's
five forces analysis offers insight into the market competition
throughout its value chain. The market attractiveness analysis
provided in the report highlights key investing areas in this
industry. The report will help manufacturers, suppliers and
distributors understand the present and future trends in this
market and formulate their strategies accordingly.
This study includes the profiles of key players in the market and
the strategies adopted by them to sustain in the competition.
Recent developments and barriers of the market are expected to help
emerging players to design their strategies in an effective manner.
The study is expected to help the electric vehicle manufacturers to
formulate and develop new strategies. The key participants in this
market are Textron Inc., Ingersoll Rand Corp., Yamaha Golf Car
Company, Dongfeng Electric Vehicles Co., Ltd, Dongyang Mechatronics
Corp. and Bradshaw Electric Vehicles.
Global Golf cart and NEV Market: By Types, 2014 - 2020
Golf Carts
Neighborhood Electric Vehicles (NEV)
Global Golf cart and NEV Market: By Engines, 2014 - 2020
Gas powered engines
Electric powered engines
Global Golf cart and NEV Market: By Geography, 2014 - 2020
North America
Europe
Asia Pacific
Rest of the world (RoW)
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