Japan Golf Cart Market Segmentation by Product Type (Manual, and Electromagnetic Induction); by Propulsion (Electric, and Gasoline Golf Cart); by Battery Type (Lead-Acid, and Lithium-Ion Batteries); by Battery Capacity (6V, 8V, and 12V); by Passenger Capacity (2-, 4-, and 6-Seater); by End-Use Application (Golf Course, Residential Service, and Commercial Service)-Demand Analysis & Opportunity Outlook 2013-2032
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Product Code:
RP-ID-10352394 -
Published Date:
21 Oct 2022 -
Region:
Country
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Pages:
120 -
Category:
Automotive & Transportation -
Publisher:
Pub-ID-54
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
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Market Overview:
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Japan Golf Cart Market Highlights Over 2013 - 2032
The Japan golf cart market is estimated to garner a revenue of USD 67.6 Million by the end of 2032 by growing at a CAGR of 5.0% over the forecast period, i.e., 2022 – 2032. Moreover, in the year 2013, the market in the nation garnered a revenue of USD 52.0 Million. The growth of the market can be attributed to the surge in demand for these carts from different end-use verticals, such as airports, golf clubs, hospitals, railway stations, college campuses, sports events, and housing projects among others. Golf carts are an easy-to-navigate vehicle and owing to their easy operability features, it is highly preferred amongst the end-users across different end-use industries. Besides this, the stringent government norms for lowering environmental pollution in the nation caused primarily due to vehicular emissions are also expected to drive the growth of the market in the coming years. For instance, in the year 2019, close to 43 Thousand deaths were registered in the nation due to air pollution. On the other hand, according to the statistics by the Ministry of the Environment and the National Institute for Environmental Studies, the total greenhouse gas emissions during FY2019 were 1212 Million Tonnes of carbon dioxide equivalents (Mt CO2 eq.).
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The growth of the market can also be attributed to the rise in the adoption of golf carts for promotional activities and the surge in rental services of these vehicles for different end-use applications. In addition to this, the increasing purchasing power of the individuals of the nation is also projected to create numerous opportunities for market growth in the coming years.
Growth Drivers and Challenges Impacting the Growth of the Japan Golf Cart Market
Growth Drivers
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Growing Adoption of Golf Carts Across Different End-Use Verticals
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Growing Concern for Vehicular Emission
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Rising Golf Cart Rental Services
Challenges
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High Cost of the Product
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Lack of Safety of these Vehicles
Japan Golf Cart Market Segmentation Synopsis
The Japan golf cart market is segmented by product type into manual, and electromagnetic induction, out of which, the electromagnetic induction segment is anticipated to garner the highest market share by the end of 2032 and also grow with the highest CAGR of 5.4% during the forecast period. By propulsion, the market is segmented into electric golf cart and gasoline golf cart. Out of these, the electric golf cart segment is projected to grow with the highest CAGR of 6.1% during the forecast period. By battery type, the market is segmented into lead-acid batteries and lithium-ion batteries, out of which, the lithium-ion batteries segment is projected to grow with the highest CAGR of 6.9% during the forecast period. By battery capacity, the market is segmented into 6V, 8V, and 12V. The 8V segment is anticipated to garner the largest revenue of 17.6 Million by the end of 2032, up from a revenue of USD 10.7 Million in the year 2013. By passenger capacity, the market is segmented into 2-seater, 4-seater, and 6-seater. The 2-seater segment is anticipated to garner the largest revenue of USD 33.0 Million by the end of 2032, up from a revenue of USD 27.8 Million in the year 2013. By end-use application, the market is segmented into golf course, residential services, and commercial services. Out of these, the golf course segment is projected to garner the largest revenue of USD 42.9 Million by the end of 2032, up from a revenue of USD 35.1 Million in the year 2013.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Japan golf cart market that are included in our report are Yamaha Motor Co., Ltd., CLUB CAR, Textron Specialized Vehicles Inc., and others.
Latest Developments in the Japan Golf Cart Market:
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April 12th, 2021: The parent company of CLUB CAR, Ingersoll Rand Inc., announced that it has entered into an agreement with Platinum Equity to sell its Specialty Vehicle Technologies Segment, i.e., CLUB CAR, for an all-cash transaction of USD 1.68 Billion.
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June 1st, 2021: Textron Specialized Vehicles Inc. announced the launch of a new vehicle named E-Z-GO Liberty. This new vehicle, which is powered by Samsung SDI lithium-ion battery system, offers four forward-facing seats in a compact, golf-cart-sized footprint.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
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FREQUENTLY ASKED QUESTIONS
The growing adoption of golf carts across different end-use verticals, along with the growing concern for vehicular emission, and the rising golf cart rental services are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 5.0% over the forecast period, i.e., 2022 – 2032.
The high cost of the product, along with the lack of safety of these vehicles are estimated to hamper the market growth.
The major players in the market are Yamaha Motor Co., Ltd., CLUB CAR, Textron Specialized Vehicles Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, propulsion, battery type, battery capacity, and by end-use application.
The 8V segment is anticipated to garner the largest revenue of 17.6 Million by the end of 2032 and display significant growth opportunities.
1. Market Definition
1.1. Definition
1.2.Market Segmentation
2. Assumptions and Acronyms
3. Research Methodology
3.1.Research Process
3.2. Primary Research
3.3. Secondary Research
4. Executive Summary – Japan Golf Car Market
5. Market Dynamics
5.1. Drivers
5.2. Challenges
5.3. Trends
5.4. Opportunities
6. Regulatory & Standards Landscape
7. Industry Risk Analysis
8. Japan Golf Population Analysis/Forecast
9. Analysis on the Japan Golf Courses
10. Recent Development and Technological Advancements in the Golf Cart Market
11. Pricing Analysis of Golf Cart Market
12.Impact of COVID-19 on the Golf Cart Market
13.Analysis on the Key End-Use Application of Golf Cart
14.Analysis on Golf Cart Market Players
15. Average Unit Price Analysis
16.Japan Golf Cart Market Size, by Market Players, Seating Capacity, and Battery Type
16.1. Yamaha Motor Co., Ltd., 2013-2032F (in Units)
16.1.1. 2-Seater, 2013-2032F (in Units)
16.1.1.1. Lead-Acid Battery, 2013-2032F (in Units)
16.1.1.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.1.2. 4-Seater, 2013-2032F (in Units)
16.1.2.1. Lead-Acid Battery, 2013-2032F (in Units)
16.1.2.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.1.3. 6-Seater, 2013-2032F (in Units)
16.1.3.1. Lead-Acid Battery, 2013-2032F (in Units)
16.1.3.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.1.4. 8-Seater, 2013-2032F (in Units)
16.1.4.1. Lead-Acid Battery, 2013-2032F (in Units)
16.1.4.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.2. Textron Specialized Vehicles Inc., 2013-2032F (in Units)
16.2.1. 2-Seater, 2013-2032F (in Units)
16.2.1.1. Lead-Acid Battery, 2013-2032F (in Units)
16.2.1.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.2.2. 4-Seater, 2013-2032F (in Units)
16.2.2.1. Lead-Acid Battery, 2013-2032F (in Units)
16.2.2.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.2.3. 6-Seater, 2013-2032F (in Units)
16.2.3.1. Lead-Acid Battery, 2013-2032F (in Units)
16.2.3.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.2.4. 8-Seater, 2013-2032F (in Units)
16.2.4.1. Lead-Acid Battery, 2013-2032F (in Units)
16.2.4.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.3. CLUB CAR, 2013-2032F (in Units)
16.3.1. 2-Seater, 2013-2032F (in Units)
16.3.1.1. Lead-Acid Battery, 2013-2032F (in Units)
16.3.1.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.3.2. 4-Seater, 2013-2032F (in Units)
16.3.2.1. Lead-Acid Battery, 2013-2032F (in Units)
16.3.2.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.3.3. 6-Seater, 2013-2032F (in Units)
16.3.3.1. Lead-Acid Battery, 2013-2032F (in Units)
16.3.3.2. Lithium-Ion Battery, 2013-2032F (in Units)
16.3.4. 8-Seater, 2013-2032F (in Units)
16.3.4.1. Lead-Acid Battery, 2013-2032F (in Units)
16.3.4.2. Lithium-Ion Battery, 2013-2032F (in Units)
17. Japan Golf Cart Market Size, by Market Players and Product Type
17.1. Yamaha Motor Co., Ltd., 2013-2032F (in Units)
17.1.1. Manual, 2013-2032F (in Units)
17.1.2. Electromagnetic Induction, 2013-2032F (in Units)
17.2. Textron Specialized Vehicles Inc., 2013-2032F (in Units)
17.2.1. Manual, 2013-2032F (in Units)
17.2.2. Electromagnetic Induction, 2013-2032F (in Units)
17.3. CLUB CAR, 2013-2032F (in Units)
17.3.1. Manual, 2013-2032F (in Units)
17.3.2. Electromagnetic Induction, 2013-2032F (in Units)
17.4. Other Prominent Players, 2013-2032F (in Units)
17.4.1. Manual, 2013-2032F (in Units)
17.4.2. Electromagnetic Induction, 2013-2032F (in Units)
18.Competitive Positioning
19.Company Profiling
19.1. Market Share Analysis, 2021
19.2. Competitive Structure
19.2.1. Yamaha Motor Co., Ltd.
19.2.2. Textron Specialized Vehicles Inc.
19.2.3. CLUB CAR
20. Analysis on Japan Land Car/Utility/Green Slow Mobility Market Size
21.Analysis on Golf Cart & Parts Aftermarket
22. Japan Golf Cart Market
22.1. Market Overview
22.2. Market Size (2013-2032)
22.3. Market Segmentation by:
22.3.1. Product Type
22.3.1.1. Manual, 2013-2032F (USD Million)
22.3.1.2. Electromagnetic Induction, 2013-2032F (USD Million)
22.3.2. Propulsion
22.3.2.1. Electric Golf Cart, 2013-2032F (USD Million)
22.3.2.2. Gasoline Golf Cart, 2013-2032F (USD Million)
22.3.3. Battery Type
22.3.3.1. Lead-Acid Batteries, 2013-2032F (USD Million)
22.3.3.2. Lithium-Ion Batteries, 2013-2032F (USD Million)
22.3.4. Battery Capacity
22.3.4.1. 6V, 2013-2032F (USD Million)
22.3.4.2. 8V, 2013-2032F (USD Million)
22.3.4.3. 12V, 2013-2032F (USD Million)
22.3.5. Passenger Capacity
22.3.5.1. 2-Seater, 2013-2032F (USD Million)
22.3.5.2. 4-Seater, 2013-2032F (USD Million)
22.3.5.3. 6-Seater, 2013-2032F (USD Million)
22.3.6. End-Use Application
22.3.6.1. Golf Course, 2013-2032F (USD Million)
22.3.6.2. Residential Service, 2013-2032F (USD Million)
22.3.6.3. Commercial Service, 2013-2032F (USD Million)
22.3.6.3.1. Airports, 2013-2032F (USD Million)
22.3.6.3.2. Hospitals, 2013-2032F (USD Million)
22.3.6.3.3. Railways, 2013-2032F (USD Million)
22.3.6.3.4. Clubs & Resorts, 2013-2032F (USD Million)
22.3.6.3.5. Theme Parks, 2013-2032F (USD Million)
22.3.6.3.6. Others, 2013-2032F (USD Million)
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- Yamaha Motor Co. Ltd.
- CLUB CAR
- Textron Specialized Vehicles Inc
