Market Overview:
The global low speed vehicles and golf carts market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for low speed vehicles and golf carts for personal, commercial, and recreational purposes. Low speed vehicles are used in various applications such as golf courses, tourist attractions, residential areas, campuses, and others. Electric power-based low speed vehicles are expected to witness high demand during the forecast period owing to their environment-friendly nature as compared with gas-powered low speed vehicles.
Product Definition:
Low Speed Vehicles (LSVs) are defined as four-wheeled vehicles that have a top speed of no more than 25 mph. Golf carts are LSVs, but there are also other types of LSVs such as neighborhood electric vehicles (NEVs).
The importance of LSVs and golf carts lies in their ability to provide convenient, emissions-free transportation for people within a specific area or community. For example, golf carts can be used on college campuses or retirement communities to provide transportation for students or residents within the campus or community boundaries. NEVs can be used as an alternative form of public transportation in small towns and rural areas where traditional buses may not be available.
Gas Power:
Gas power is the type of internal combustion engine used in vehicles. It has been widely accepted as a source of power for automobiles due to its cost-effectiveness, reliability and easy availability. Gasoline or gas is the most common fuel used in such engines which are also known as petrol engines. The other fuels commonly used are LPG, CNG (Compressed Natural Gas), ethanol among others.
Electric Power:
Electric power is the rate at which electric circuits interact with electromagnetic fields. It can be defined as the potential difference between two points separated by an electric wire or between a point and a battery. The power of electricity is used in low speed vehicles and golf carts to operate motors, to recharge batteries, and for other purposes such as powering air conditioning systems or heating ventilation & cooling equipment.
Application Insights:
The market is segmented by application into golf courses, tourist attraction, residential, campus and others. The golf course application segment dominated the global low speed vehicles and golf carts market in 2017 owing to the rising number of public and private clubs across various regions including North America and Europe. Furthermore, government initiatives such as green fees for residents at municipal courses are expected to boost product demand over the forecast period.
The campus application segment is projected to witness significant growth over the forecast period owing to increasing student enrollment at colleges/universities worldwide. In addition, growing investments by governments in higher education are anticipated to fuel industry expansion over the coming years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market at a CAGR of XX% from 2018 to 2030. The region has been witnessing rapid urbanization and increasing disposable income of the middle-class population, which in turn is driving demand for low speed vehicles and golf carts. Moreover, supportive government regulations aimed at reducing carbon footprint by promoting alternative modes of transportation are expected to further propel growth in this region. Europe accounted for over 25% share in 2017 owing to high popularity among European countries as a tourist destination along with presence of well-established automotive industry that caters to both domestic as well as international markets.
North America also had a significant market share owing its large number of theme parks across U.S., Canada, and Mexico that offer various leisure activities such as roller coasters, water slides, go karts etc., thereby creating demand for low speed vehicles used during these activities such as electric power scooters or ATVs/UTVs etc.).
Growth Factors:
- Increasing demand for low speed vehicles and golf carts from the commercial sector for transportation and logistics purposes.
- Growing popularity of low speed vehicles and golf carts as a personal transport option, especially in retirement communities and gated neighborhoods.
- Increasing demand for electric-powered low speed vehicles and golf carts due to environmental concerns over traditional gasoline-powered models.
- Development of more advanced safety features in low speed vehicles and golf carts, which is attracting new consumers to the market segment.
Scope Of The Report
Report Attributes
Report Details
Report Title
Low Speed Vehicles and Golf Carts Market Research Report
By Type
Gas Power, Electric Power, Others
By Application
Golf Courses, Tourist Attraction, Residential, Campus, Others
By Companies
Yamaha, Textron, Club Car, Columbia Vehicle Group Inc, Suzhou Eagle Electric, Garia Inc., Guangdong Lvtong, JH Global Services Inc, Xiamen Dalle Electric Car, Marshell Green Power, American Custom Golf Cars, Bintelli Electric Vehicles, Dongguan Excellence, Speedways Electric, HDK Electric Vehicles, Polaris Industries, CitEcar Electric Vehicles, Suzhou Eagle Electric Vehicle Manufacturing, Moto Electric Vehicles
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
214
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Low Speed Vehicles and Golf Carts Market Report Segments:
The global Low Speed Vehicles and Golf Carts market is segmented on the basis of:
Types
Gas Power, Electric Power, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Golf Courses, Tourist Attraction, Residential, Campus, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Yamaha
- Textron
- Club Car
- Columbia Vehicle Group Inc
- Suzhou Eagle Electric
- Garia Inc.
- Guangdong Lvtong
- JH Global Services Inc
- Xiamen Dalle Electric Car
- Marshell Green Power
- American Custom Golf Cars
- Bintelli Electric Vehicles
- Dongguan Excellence
- Speedways Electric
- HDK Electric Vehicles
- Polaris Industries
- CitEcar Electric Vehicles
- Suzhou Eagle Electric Vehicle Manufacturing
- Moto Electric Vehicles
Highlights of The Low Speed Vehicles and Golf Carts Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Gas Power
- Electric Power
- Others
- By Application:
- Golf Courses
- Tourist Attraction
- Residential
- Campus
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Low Speed Vehicles and Golf Carts Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Low speed vehicles are typically golf carts or other small vehicles that are designed to travel at a slower speed than regular cars. These vehicles can be used for transportation around a golf course, for example, or in other areas where it is important to keep traffic moving slowly.
Some of the major players in the low speed vehicles and golf carts market are Yamaha, Textron, Club Car, Columbia Vehicle Group Inc, Suzhou Eagle Electric, Garia Inc., Guangdong Lvtong, JH Global Services Inc, Xiamen Dalle Electric Car, Marshell Green Power, American Custom Golf Cars, Bintelli Electric Vehicles, Dongguan Excellence, Speedways Electric, HDK Electric Vehicles, Polaris Industries, CitEcar Electric Vehicles, Suzhou Eagle Electric Vehicle Manufacturing, Moto Electric Vehicles.
The low speed vehicles and golf carts market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Low Speed Vehicles and Golf Carts Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Low Speed Vehicles and Golf Carts Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Low Speed Vehicles and Golf Carts Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Low Speed Vehicles and Golf Carts Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Low Speed Vehicles and Golf Carts Market Size & Forecast, 2018-2028
4.5.1 Low Speed Vehicles and Golf Carts Market Size and Y-o-Y Growth
4.5.2 Low Speed Vehicles and Golf Carts Market Absolute $ Opportunity
Chapter 5 Global Low Speed Vehicles and Golf Carts Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Low Speed Vehicles and Golf Carts Market Size Forecast by Type
5.2.1 Gas Power
5.2.2 Electric Power
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Low Speed Vehicles and Golf Carts Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Low Speed Vehicles and Golf Carts Market Size Forecast by Applications
6.2.1 Golf Courses
6.2.2 Tourist Attraction
6.2.3 Residential
6.2.4 Campus
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Low Speed Vehicles and Golf Carts Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Low Speed Vehicles and Golf Carts Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Low Speed Vehicles and Golf Carts Analysis and Forecast
9.1 Introduction
9.2 North America Low Speed Vehicles and Golf Carts Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Low Speed Vehicles and Golf Carts Market Size Forecast by Type
9.6.1 Gas Power
9.6.2 Electric Power
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Low Speed Vehicles and Golf Carts Market Size Forecast by Applications
9.10.1 Golf Courses
9.10.2 Tourist Attraction
9.10.3 Residential
9.10.4 Campus
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Low Speed Vehicles and Golf Carts Analysis and Forecast
10.1 Introduction
10.2 Europe Low Speed Vehicles and Golf Carts Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Low Speed Vehicles and Golf Carts Market Size Forecast by Type
10.6.1 Gas Power
10.6.2 Electric Power
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Low Speed Vehicles and Golf Carts Market Size Forecast by Applications
10.10.1 Golf Courses
10.10.2 Tourist Attraction
10.10.3 Residential
10.10.4 Campus
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Low Speed Vehicles and Golf Carts Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Low Speed Vehicles and Golf Carts Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Low Speed Vehicles and Golf Carts Market Size Forecast by Type
11.6.1 Gas Power
11.6.2 Electric Power
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Low Speed Vehicles and Golf Carts Market Size Forecast by Applications
11.10.1 Golf Courses
11.10.2 Tourist Attraction
11.10.3 Residential
11.10.4 Campus
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Low Speed Vehicles and Golf Carts Analysis and Forecast
12.1 Introduction
12.2 Latin America Low Speed Vehicles and Golf Carts Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Low Speed Vehicles and Golf Carts Market Size Forecast by Type
12.6.1 Gas Power
12.6.2 Electric Power
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Low Speed Vehicles and Golf Carts Market Size Forecast by Applications
12.10.1 Golf Courses
12.10.2 Tourist Attraction
12.10.3 Residential
12.10.4 Campus
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Low Speed Vehicles and Golf Carts Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Low Speed Vehicles and Golf Carts Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Low Speed Vehicles and Golf Carts Market Size Forecast by Type
13.6.1 Gas Power
13.6.2 Electric Power
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Low Speed Vehicles and Golf Carts Market Size Forecast by Applications
13.10.1 Golf Courses
13.10.2 Tourist Attraction
13.10.3 Residential
13.10.4 Campus
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Low Speed Vehicles and Golf Carts Market: Competitive Dashboard
14.2 Global Low Speed Vehicles and Golf Carts Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Yamaha
14.3.2 Textron
14.3.3 Club Car
14.3.4 Columbia Vehicle Group Inc
14.3.5 Suzhou Eagle Electric
14.3.6 Garia Inc.
14.3.7 Guangdong Lvtong
14.3.8 JH Global Services Inc
14.3.9 Xiamen Dalle Electric Car
14.3.10 Marshell Green Power
14.3.11 American Custom Golf Cars
14.3.12 Bintelli Electric Vehicles
14.3.13 Dongguan Excellence
14.3.14 Speedways Electric
14.3.15 HDK Electric Vehicles
14.3.16 Polaris Industries
14.3.17 CitEcar Electric Vehicles
14.3.18 Suzhou Eagle Electric Vehicle Manufacturing
14.3.19 Moto Electric Vehicles
