Lewes, DE -- (SBWIRE) -- 11/01/2018 -- Global Golf Cart and NEV market will register a 3.3% CAGR in terms of revenue, reach US$ 5440 million by 2023, from US$ 4470 million in 2017.

Golf Cart and NEV are used by golfers to carry heavy golf clubs and equipment. They are also used for daily commuting needs over short distances. Golf Cart and NEV are usually gasoline-powered or electric, but recently solar-powered Golf Cart and NEV have also been developed. Electric Golf Cart and NEV have more preference among consumers.

Golf Cart and NEV come in a wide range of formats and are more generally used to convey small numbers of passenger short distances at speeds less than 15 mph (24 km/h) per ANSI Standard z130.1 as originally manufactured. They are generally around 4 feet (1.2 m) wide × 8 feet (2.4 m) long × 6 feet (1.8 m) high and weigh 900 pounds (410 kg) to 1,000 pounds (450 kg). Most are powered by 4-stroke engines.

The price of a Golf Cart and NEV can range anywhere from under US$1,000 to well over US$20,000 per cart, depending on several factors. These factors may include whether or not a fleet of carts is being purchased for a golf course or a country club, for example, and whether the carts are new or used. Other factors may include options such as equipment requirements, and how many people the cart is meant to transport. With the rise in popularity of Golf Cart and NEV, many golf clubs or country clubs offer storage and energy options to Golf Cart and NEV owners. This has led to the modification of Golf Cart and NEV to suit use at the particular golf course. Typical modification includes windshields, ball cleaners, cooler trays, upgraded motor or speed controller (to increase speed and/or torque), and lift kits.

Originally Golf Cart and NEV were electrically powered, but in time gasoline-powered variants started to occur. The electric variety is now used in many communities where their lack of pollutants, lack of noise, and safety for pedestrians and other carts (due to slow speeds) are beneficial. When purpose-built for general transportation these are called Neighborhood Electric Vehicles (NEVs), but with various operating limitations such as top speed and heavy regulation on which type of streets these types of carts are permitted to be used. These may resemble the Golf Cart and NEV shown above, although some are now being made with all-weather car-like bodies.

The technical barriers of Golf Cart and NEV are high, and the Golf Cart and NEV market concentration degree is relatively higher. The manufacturing bases concentration around the world in terms of geography; some of the key players dominating this market are Yamaha Golf Cars, Textron, Columbia CarPar, Ingersoll Rand, Shenzhen Marshell Green Power, and others.

The main threat facing the company is the sturdiness of the competition within the market. The product will not be trying to replace solutions already on the market, however; competing with companies like Yamaha Motor and Club Car could be a real threat for a small startup companies.

In the past few years, as the main raw material price was relatively stable, with the addition of a sharp increase in production capacity, expected that the Golf Cart and NEV raw material price will be stable in the short term. However, the improvement of energy, transportation costs, and employee wages, will play a significant role in promoting the cost of Golf Cart and NEV.

Over the next five years, Study projects that Golf Cart and NEV will register a 3.3% CAGR in terms of revenue, reach US$ 5440 million by 2023, from US$ 4470 million in 2017.

This report studies the global market, especially in North America, Europe, Asia-Pacific, South America, Middle East and Africa, focuses on the top 5 players in each region, with sales, price, revenue and market share from 2013 to 2018, the top players:
Yamaha Golf Cars
Textron
Columbia CarPar
Ingersoll Rand
Shenzhen Marshell Green Power
Melex Golf Cars
Garia
Volmac Engineering
Speedways Electric
Dongguan Excellence Golf & Sightseeing Car
Polaris Industries
CitEcar Electric Vehicles
Zhuhai E-Way Electrical Industry
Auto Power

Market Segment by Regions, this report splits Global into several key Regions, with sales, revenue, market share of top players in these regions, from 2013 to 2018 (forecast), like
North America (United States, Canada and Mexico)
Asia-Pacific (China, Japan, Southeast Asia, India and Korea)
Europe (Germany, UK, France, Italy and Russia etc.)
South America (Brazil, Chile, Peru and Argentina)
Middle East and Africa (Egypt, South Africa, Saudi Arabia)

Split by Product Types, with sales, revenue, price, market share of each type, can be divided into
Gas Power
Electric Power
others

Split by applications, this report focuses on sales, market share and growth rate in each application, can be divided into
Golf courses
Parks & Tourist Destinations and Hotels
Airports
Residential and commercial premises
Others

Spanning over 142 pages "Forecast of Global Golf Cart and NEV Market 2023" report covers Golf Cart and NEV Market Overview, Global Golf Cart and NEV Sales, Revenue (Value) and Market Share by Players, Global Golf Cart and NEV Sales, Revenue (Value) by Regions, Type and Application (2013-2018), North America Top 5 Players Golf Cart and NEV Sales, Revenue and Price, Europe Top 5 Players Golf Cart and NEV Sales, Revenue and Price, Asia-Pacific Top 5 Players Golf Cart and NEV Sales, Revenue and Price, South America Top 5 Players Golf Cart and NEV Sales, Revenue and Price, Middle East & Africa Top 5 Players Golf Cart and NEV Sales, Revenue and Price, Global Golf Cart and NEV Players Profiles/Analysis, Global Golf Cart and NEV Market Forecast (2018-2023), Golf Cart and NEV Manufacturing Cost Analysis, Industrial Chain, Sourcing Strategy and Downstream Buyers, Marketing Strategy Analysis, Distributors/Traders, Market Effect Factors Analysis, Research Findings and Conclusion, Appendix.

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