Post by ：Jun 27, 2017, 04:46 PM
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Consumers in countries around the world increasingly desire electric vehicles with small footprints and eco-friendly features, which is stimulating the LSV market. This partially stems from wanting to protect the environment and curb the emission of greenhouse gasses, but the demand is also spurred by the knowledge that alternate fuels can be less expensive than petroleum-based fuels.
In the developed world, which includes North America, Europe, Australia, Japan and several other countries of the Asia Pacific, people have been demonstrating a willingness to adopt green lifestyles and buy eco-friendly products since the early 2010s. The average amount of disposable income in these countries is already high, so price-related barriers are minimized. In these areas, the primary applications for golf carts are golf courses, residential campuses, commercial businesses, short-distance commutes, entertainment parks and security patrols.
In developing countries, such as China, India, Brazil and Indonesia, the increased demand for golf carts is a more recent phenomenon, but now that it has begun, the momentum will carry over through 2020 and beyond. In these areas, the golf cart industry is focusing on improving its products through the implementation of new technological advancements that not only increase efficiency and reduce pollution but also customize the vehicles for specific venues, such as golf courses, hotels and real estate. Even though market growth is significantly hampered in developing countries because of a lack of local infrastructure, the report states that the impact will decrease to an extremely low level by the end of the forecast period.
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