Post by ：Jun 27, 2017, 04:47 PM
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According to the market research analysts at Technavio, the global golf cart market is anticipated to witness steady growth and will post a moderate CAGR of more than 5% during the forecast period. There is an augmented demand for golf carts powered by lithium-ion batteries, which is one of the major factors driving this market’s growth. Lithium-ion batteries are not only lightweight, but they also stay charged for long periods and charge faster than the standard lead acid batteries. These features make lithium-ion batteries ideal for use in electric trollies and remote-controlled golf carts. These batteries can power golf carts through 18 holes of golf with ease and can even power them through 27 holes, therefore, the introduction of lithium-ion batteries in golf carts has boosted the sales of golf carts by almost 70% and will continue to drive the sales of golf cart in the coming years.
One of the latest trends gaining significant traction in the market is the multipurpose usage of golf carts. Golf carts are being increasingly used for commuting purposes and the trend of using golf carts for daily transportation needs is catching up. Rising fuel prices and the stringent regulations on vehicular emissions imposed by governments worldwide are increasing the popularity of golf carts. Several consumers are using golf carts for shopping, recreational purposes, and for use on planned community roads. For example, in the US, the government is amending motor vehicle laws to accommodate golf carts on roads. Such changes in laws are making it easier for consumers to use golf carts for their daily needs. Moreover, in countries like India, gold carts are being introduced by the government to aid the elderly and the differently abled population in railway stations and airports, leading to their increased adoption over the next four years.
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