A second report developed, compiled and analyzed by Transparency Market Research, a U.S.-based research and consulting firm, is also making waves in the golf cart industry. According to this report, Electric Vehicles Market (on-road) (hybrid, plug-in and battery) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019, the global market for electric vehicles is expected to grow as consumers around the world seek to mitigate fuel expenses.

Transparency Market Research found that electric vehicles of all sorts were rapidly increasing in popularity because of the rising trend to embrace sustainable energy and address problems with climate change and air quality. Also, the rising cost of fossil fuels is pushing people toward electric vehicles, including NEVs and LSVs, regardless of whether they have environmental motivations or not.

In the consumer market, electric vehicles provide a broad range of benefits over those powered by fossil fuels. A few of these advantages are that they produce no harmful emissions, offer enhanced energy efficiency and are relatively inexpensive to operate and maintain.

Although this report does not focus on golf carts alone, it breaks down electric cars into several categories and provides a detailed analysis of each category. The three classes of electric vehicles are full-size automobiles, NEVs, and golf carts.  And while NEVs and golf carts share many common characteristics, the classifications are demarcated on the basis of whether they were designed specifically for golf courses or for city streets.