TMR Company Offered the New Global Golf Cart and NEV Market Report for 2014 - 2020
The rising demand for electric vehicles for short distance and low speed commute is the primary factor driving the global golf cart and neighborhood electric vehicles (NEV) market, according to a report published by Transparency Market Research.
The report, titled “Golf Cart and NEV Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, indicates that expanding at a 6.6% CAGR from 2014 to 2020, the global golf cart and NEV market is projected to grow from US$1.79 billion in 2013 to US$2.81 billion by 2020.
The golf cart and NEV market is also driven by government initiatives to curb alarming pollution levels and encourage citizens to opt for electric vehicles for regular usage. High-tech equipment adaption in the low speed vehicle segment and rising disposable incomes in developing and developed countries have also greatly influenced the golf cart and NEV market. However, lack of proper infrastructure to support golf cart and NEVs and the slump in the golf industry are key challenges that the market needs to overcome.
On the basis of geography, the global golf cart and NEV market is divided into North America, Europe, Asia Pacific, and Rest of the World. North America dominates the worldwide market and industry experts believe that this region is likely to retain its lead through 2020. The North American golf cart and NEV market is fueled by the rejuvenation of the golf industry, surging fuel prices, and rising consumer awareness and affinity towards novel, environment-friendly technologies. Asia Pacific and Europe are the second largest markets for golf carts and NEVs and together they hold 40% of the global revenue.
Browse The Market Research Report of Golf Cart and NEV Market at http://www.transparencymarketresearch.com/golf-cart-nev-market.html
About Us :
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.