Asia Pacific Golf Cart Market

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Asia Pacific Golf Cart Market, By Fuel Type (Gasoline, Electric); By Seating Capacity (2–4 Seater, 4–8 Seater, and More than 8 Seater); By Vehicle Speed (Low-Speed Vehicles, High-Speed Vehicles); By End User (Golf Course, Personal Services, Commercial Services), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

Published Date: February 2023
Report ID: BWC23165
Available Format: PDF
Page: 240

Report Overview

Rapid urbanization, a booming hotel and tourism sector, rising golf participation in emerging nations, technological developments in golf carts, and lower fuel and battery prices all contribute to an increase in construction activity that could boost the growth of the Asia-Pacific Golf Cart Market during the forecast period between 2023 and 2029.

Asia-Pacific Golf Cart Market - Industry Trends & Forecast Report, 2029

Asia-Pacific golf cart market size was estimated at USD 105.21 million in 2022. During the forecast period between 2023 and 2029, Asia-Pacific golf cart market size is projected to grow at a CAGR of 6.29% reaching a value of USD 159.97 million by 2029. Asia-Pacific golf cart market is expected to expand during the forecast period as a result of fiscal and monetary policies, as well as an increase in new constructions, primarily in the real estate and tourism industries, as well as an increase in demand from premium buyers, are expected to provide the regional market with lucrative growth opportunities. Golf carts are gradually gaining popularity in the country, owing primarily to rising demand from high-end consumers. Also, the country is a significant market for low-speed vehicles (LSVs). With India on track to become the world's third-largest economy by 2030, rising incomes and disposable incomes are expected to fuel the purchase of golf carts.

Asia Pacific Golf Cart Market

Asia-Pacific Golf Cart Market - Overview

A golf cart, sometimes known as a golf car, is a compact automobile that is used to transport two golfers and their clubs around a golf course. Golf carts come in a variety of configurations and are used to move a small group of people across shorter distances and at a slower speed. A golf cart is a self-propelled vehicle powered by internal combustion engines and electric motors that is primarily used on golf courses to transport players and their equipment. Internal transportation of people and goods is done by battery-operated vehicles (BOVs), which typically go at 25 to 50 km/h.

Growth Drivers

Increased Electrification Accelerates Market Growth

Through the introduction of effective and eco-friendly technologies, the automotive industry is evolving. This is a result of increased electrification of automobiles as a result of stricter pollution standards. Government-imposed tight pollution standards are driving up demand for electric vehicles, which has also increased demand for electric golf cars. Major manufacturers place a strong emphasis on releasing contemporary electric golf vehicles with improved battery capacities and travel range, even if the majority of golf cars now on the market are electrically powered. In the next years, it is expected that these variables will be the primary forces boosting the growth of the Asia-Pacific golf cart market. Electric car prices are falling as technology becomes more popular. The mass production of electric golf cars could increase product demand and favor market growth. Increasing demand for golf cars due to their low speed for tourism purposes is expected to fuel market growth.

Restraints

Declining Golfer Population Could Limit Market Expansion

A research study shows that since 2003, fewer people have been playing golf. The market growth during the forecast period may be hampered by the diminishing number of golfers as a result of the high cost of playing, the game's incompatibility with modern lifestyles, and the game's difficulty.

Impact of COVID-19 on Asia-Pacific Golf Cart Market

The automotive sector was severely damaged by the coronavirus pandemic, which has also limited market expansion. Due to the stringent lockdowns and curfews that were enacted by several countries, the market for the commodity plummeted. Market expansion has been limited by supply chain disruptions and difficulties obtaining raw materials. However, the release of effective vaccines has caused the market to rebound. Due to increased health concerns, golf's popularity is expected to continue to grow and could aid in the market's future growth.

Asia-Pacific Golf Cart Market

Segmental Coverage

Asia-Pacific Golf Cart Market - By Fuel Type

Asia-Pacific golf cart market by fuel type is divided into Gasoline and Electric segments. The electric golf cart segment holds a higher share of the Asia-Pacific golf cart market. Electric golf carts are widely used around the Asia Pacific due to their numerous advantages, such as low operating costs, noiseless operation, increased comfort, and high speed. Also, lower-cost electric golf cart batteries and stringent emission standards enforced by government bodies have a positive impact on segment growth. Due to the fewer moving parts in the cart, the maintenance cost of an electric golf car is almost negligible, driving segment growth.

Asia-Pacific Golf Cart Market - By Seating Capacity

On basis of seating capacity, Asia-Pacific golf cart market is divided into 2–4 Seater, 4–8 Seater, and more than 8 Seater segments. The 4–8 seater segment is expected to rule the market. Customers choose golf carts with 4–8 seats because they can carry a big number of passengers without compromising the speed and comfort of the journey. A 4–8 seater golf cart is better suited for this than others because golfers can comfortably travel and carry their golfing equipment. On average, a game of golf involves 2 to 4 players. These carts have a top speed of 18 mph. This type is also offered with appealing features such an easy-grip steering wheel and a fashionable dashboard, which increases its popularity on golf courses.

Asia Pacific Golf Cart Market Size

Asia-Pacific Golf Cart Market - By Vehicle Speed

On basis of vehicle speed, Asia-Pacific golf cart market is divided into Low-Speed Vehicles and High-Speed Vehicles segments.

Asia-Pacific Golf Cart Market - By End User

Based on end user, the Asia-Pacific golf cart market is divided into Golf Course, Personal Services, and Commercial Services segments. Due to the presence of a high number of golf courses across Asia Pacific, the golf course segment is expected to grow during the forecast period. Also, as golf has grown in popularity in recent years, coaching and investment in the sport have increased. Despite the high costs, professional golfers prefer to play on traditional golf courses.

Competitive Landscape

Asia-Pacific golf cart market is fiercely competitive. Major competitors in the market include Cruise Car Inc., HDK Electric Vehicle, Varley Group, Polaris Industries Inc, Star EV Corporation, Yamaha Golf-Car Company, Thai Summit Group, Karrior Electric Vehicles, Hawk Carts, and Tomberlin. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

In January 2021 - The Yamaha Golf-Car Company extended its partnership with the National Gold Course Owners Association (NGCOA) as their "Official Golf Car Partner." The partnership will benefit Yamaha's customer base by offering incentives on Yamaha golf cars and utility vehicle purchases/leases through NGCOA's smart buy marketing purchasing program.

Scope of the Report

Attributes	Details
Years Considered	Historical Data – 2019–2022
	Base Year – 2022
	Estimated Year – 2023
	Forecast Period – 2023–2029
Facts Covered	Revenue in USD Million
Market Coverage	Asia Pacific
Product/ Service Segmentation	Fuel Type, Seating Capacity, Vehicle Speed, End User
Key Players	Cruise Car Inc., HDK Electric Vehicle, Varley Group, Polaris Industries Inc, Star EV Corporation, Yamaha Golf-Car Company, Thai Summit Group, Karrior Electric Vehicles, Hawk Carts, Tomberlin

By Fuel Type

Gasoline
Electric

By Seating Capacity

2–4 Seater
4–8 Seater
More than 8 Seater

By Vehicle Speed

Low-Speed Vehicles
High-Speed Vehicles

By End User

Golf Course
Personal Services
Commercial Services

Research Framework
1. Research Objective
2. Product Overview
3. Market Segmentation
Executive Summary
Asia-Pacific Golf Cart Market Insights
1. Industry Value Chain Analysis
2. DROC Analysis
  1. Growth Drivers
    1. Rising construction activities due to rapid urbanization
    2. Growing tourism and hotel industry
    3. Increasing participation in golf across the emerging economies
  2. Restraints
    1. High cost of product and its initial maintenance
    2. Low power and speed
  3. Opportunities
    1. Rising technological advancements in Golf Cart
    2. Reduction in fuel and battery costs
  4. Challenges
    1. Low-quality products offered by local players in the region
3. Technology Advancements/Recent Developments
4. Regulatory Framework
5. Porter’s Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of New Entrants
  4. Threat of Substitutes
  5. Intensity of Rivalry
Asia-Pacific Golf Cart Market Overview
1. Market Size & Forecast, by Value, 2019–2029
  1. By Value (USD Billion)
2. Market Share & Forecast
  1. By Fuel Type
    1. Gasoline
    2. Electric
  2. By Seating Capacity
    1. 2-4 Seater
    2. 4-8 Seater
    3. More than 8 Seater
  3. By Vehicle Speed
    1. Low-Speed Vehicles
    2. High-Speed Vehicles
  4. By End User
    1. Golf Course
    2. Personal Services
    3. Commercial Services
Asia Pacific Golf Cart Market
1. Market Size & Forecast, by Value, 2019–2029
  1. By Value (USD Billion)
2. Market Share & Forecast
  1. By Fuel Type
  2. By Seating Capacity
  3. By Vehicle Speed
  4. By Country
    1. China
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
    2. India
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
    3. Japan
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
    4. South Korea
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
    5. Australia & New Zealand
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
    6. Indonesia
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
    7. Malaysia
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
    8. Singapore
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
    9. Philippines
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
    10. Vietnam
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
    11. Rest of Asia Pacific
      1. By Fuel Type
      2. By Seating Capacity
      3. By Vehicle Speed
      4. By Application
Competitive Landscape
1. List of Key Players and Their Offerings
2. Asia-Pacific Golf Cart Company Market Share Analysis, 2022
3. Competitive Benchmarking, By Operating Parameters
4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
Impact of Covid-19 on Asia-Pacific Golf Cart Market
Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
1. Cruise Car Inc.
2. HDK Electric Vehicle
3. Varley Group
4. Polaris Industries Inc
5. Star EV Corporation
6. Yamaha Golf-Car Company
7. Thai Summit Group
8. Karrior Electric Vehicles
9. Hawk Carts
10. Tomberlin
11. Other Prominent Players
Key Strategic Recommendations
Research Methodology
1. Qualitative Research
  1. Primary & Secondary Research
2. Quantitative Research
3. Market Breakdown & Data Triangulation
  1. Secondary Research
  2. Primary Research
4. Breakdown of Primary Research Respondents, By Region
5. Assumptions & Limitations

*Financial information in case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1 Asia-Pacific Golf Cart Segmentation

Figure 2 Asia-Pacific Golf Cart Market Value Chain Analysis

Figure 3 Company Market Share Analysis, 2022

Figure 4 Asia-Pacific Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 5 Asia-Pacific Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 6 Asia-Pacific Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 7 Asia-Pacific Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 8 Asia-Pacific Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 9 Asia-Pacific Golf Cart Market Share, By Country, By Value, 2019–2029

Figure 10 China Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 11 China Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 12 China Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 13 China Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 14 China Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 15 India Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 16 India Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 17 India Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 18 India Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 19 India Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 20 Japan Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 21 Japan Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 22 Japan Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 23 Japan Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 24 Japan Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 25 South Korea Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 26 South Korea Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 27 South Korea Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 28 South Korea Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 29 South Korea Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 30 Australia & New Zealand Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 31 Australia & New Zealand Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 32 Australia & New Zealand Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 33 Australia & New Zealand Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 34 Australia & New Zealand Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 35 Indonesia Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 36 Indonesia Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 37 Indonesia Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 38 Indonesia Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 39 Indonesia Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 40 Malaysia Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 41 Malaysia Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 42 Malaysia Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 43 Malaysia Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 44 Malaysia Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 45 Singapore Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 46 Singapore Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 47 Singapore Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 48 Singapore Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 49 Singapore Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 50 Philippines Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 51 Philippines Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 52 Philippines Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 53 Philippines Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 54 Philippines Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 55 Vietnam Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 56 Vietnam Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 57 Vietnam Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 58 Vietnam Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 59 Vietnam Golf Cart Market Share, By Application, By Value, 2019–2029

Figure 60 Rest of APAC Golf Cart Market Size, By Value (USD Million), 2019–2029

Figure 61 Rest of APAC Golf Cart Market Share, By Fuel Type, By Value, 2019–2029

Figure 62 Rest of APAC Golf Cart Market Share, By Seating Capacity, By Value, 2019–2029

Figure 63 Rest of APAC Golf Cart Market Share, By Vehicle Speed, By Value, 2019–2029

Figure 64 Rest of APAC Golf Cart Market Share, By Application, By Value, 2019–2029

List of Tables

Table 1 Asia-Pacific Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 2 Asia-Pacific Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 3 Asia-Pacific Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 4 Asia-Pacific Golf Cart Market Size, By Application, By Value, 2019–2029

Table 5 Asia-Pacific Golf Cart Market Size, By Country, By Value, 2019–2029

Table 6 China Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 7 China Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 8 China Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 9 China Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 10 China Golf Cart Market Size, By Application, By Value, 2019–2029

Table 11 India Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 12 India Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 13 India Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 14 India Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 15 India Golf Cart Market Size, By Application, By Value, 2019–2029

Table 16 Japan Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 17 Japan Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 18 Japan Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 19 Japan Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 20 Japan Golf Cart Market Size, By Application, By Value, 2019–2029

Table 21 South Korea Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 22 South Korea Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 23 South Korea Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 24 South Korea Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 25 South Korea Golf Cart Market Size, By Application, By Value, 2019–2029

Table 26 Australia & New Zealand Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 27 Australia & New Zealand Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 28 Australia & New Zealand Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 29 Australia & New Zealand Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 30 Australia & New Zealand Golf Cart Market Size, By Application, By Value, 2019–2029

Table 31 Indonesia Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 32 Indonesia Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 33 Indonesia Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 34 Indonesia Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 35 Indonesia Golf Cart Market Size, By Application, By Value, 2019–2029

Table 36 Malaysia Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 37 Malaysia Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 38 Malaysia Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 39 Malaysia Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 40 Malaysia Golf Cart Market Size, By Application, By Value, 2019–2029

Table 41 Singapore Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 42 Singapore Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 43 Singapore Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 44 Singapore Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 45 Singapore Golf Cart Market Size, By Application, By Value, 2019–2029

Table 46 Philippines Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 47 Philippines Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 48 Philippines Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 49 Philippines Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 50 Philippines Golf Cart Market Size, By Application, By Value, 2019–2029

Table 51 Vietnam Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 52 Vietnam Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 53 Vietnam Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 54 Vietnam Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 55 Vietnam Golf Cart Market Size, By Application, By Value, 2019–2029

Table 56 Rest of APAC Golf Cart Market Size, By Value (USD Million), 2019–2029

Table 57 Rest of APAC Golf Cart Market Size, By Fuel Type, By Value, 2019–2029

Table 58 Rest of APAC Golf Cart Market Size, By Seating Capacity, By Value, 2019–2029

Table 59 Rest of APAC Golf Cart Market Size, By Vehicle Speed, By Value, 2019–2029

Table 60 Rest of APAC Golf Cart Market Size, By Application, By Value, 2019–2029

Table 61 Cruise Car Inc. Company Overview

Table 62 Cruise Car Inc. Financial Overview

Table 63 HDK Electric Vehicle Company Overview

Table 64 HDK Electric Vehicle Financial Overview

Table 65 Varley Group Company Overview

Table 66 Varley Group Financial Overview

Table 67 Polaris Industries Inc. Company Overview

Table 68 Polaris Industries Inc. Financial Overview

Table 69 Star EV Corporation Company Overview

Table 70 Star EV Corporation Financial Overview

Table 71 Yamaha Golf-Car Company Overview

Table 72 Yamaha Golf-Car Company Financial Overview

Table 73 Thai Summit Group Company Overview

Table 74 Thai Summit Group Financial Overview

Table 75 Karrior Electric Vehicles Company Overview

Table 76 Karrior Electric Vehicles Financial Overview

Table 77 Hawk Carts Company Overview

Table 78 Hawk Carts Financial Overview

Table 79 Tomberlin Company Overview

Table 80 Tomberlin Financial Overview

Market Segmentation

By Fuel Type

Gasoline
Electric

By Seating Capacity

2–4 Seater
4–8 Seater
More than 8 Seater

By Vehicle Speed

Low-Speed Vehicles
High-Speed Vehicles

By End User

Golf Course
Personal Services
Commercial Services

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Frequently Asked Questions (FAQs):

1. Which is a major end-user segment in Asia-Pacific Golf Cart Market?

Ans: The golf course segment holds the highest market share in the Asia-Pacific Golf Cart Market by end user.

2. What are the major factors driving the growth of the Asia-Pacific Golf Cart Market?

Ans: Major factors driving the growth of Asia-Pacific Golf Cart Market include rapid urbanization, a booming hotel and tourism sector, rising golf participation in emerging nations, technological developments in golf carts, and lower fuel and battery prices.

3. What is the current market size of Asia-Pacific Golf Cart Market?

Ans: Asia-Pacific Golf Cart Market size was estimated at USD 105.21 million in 2022.

4. Name the key players in Asia-Pacific Golf Cart Market.

Ans: Key players in Asia-Pacific Golf Cart Market include Cruise Car Inc., HDK Electric Vehicle, Varley Group, Polaris Industries Inc, Star EV Corporation, Yamaha Golf-Car Company, Thai Summit Group, Karrior Electric Vehicles, Hawk Carts, and Tomberlin.

5. Which is the dominant fuel type segment in Asia-Pacific Golf Cart Market?

Ans: The electric segment accounts for a higher market share in Asia-Pacific Golf Cart Market.

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Asia Pacific Golf Cart Market

Report Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

1. Which is a major end-user segment in Asia-Pacific Golf Cart Market?

2. What are the major factors driving the growth of the Asia-Pacific Golf Cart Market?

3. What is the current market size of Asia-Pacific Golf Cart Market?

4. Name the key players in Asia-Pacific Golf Cart Market.

5. Which is the dominant fuel type segment in Asia-Pacific Golf Cart Market?

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