Industry Analysis & Industry Trends
The Golf Cart Manufacturing industry has struggled to recover the losses it suffered amid the recession. However, the industry is expected to grow over the next five years, albeit at a slow rate. Industry growth will likely hinge on demand from foreign economies, particularly from rapidly developing countries as domestic interest in golf, especially among youth athletes, is expected to continue its decline. Nevertheless, the industry will continue to seek growth in domestic sales through the development of new products that attract customers with increased performance and improved technologies that create more energy-efficient carts and more capable off-road vehicles.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Golf carts have been widely accepted for use on golf courses for decades, with the industry having reached maturity long ago. Industry value added (IVA), a measure of an industry's contribution to the overall economy, is forecast to grow at an annualized rate of 1.6% over the ten years to 2020. In comparison, US GDP is anticipated to grow at an annualized rate of 2.5% over the same period of time. While IVA is forecast to grow at an annualized rate of 2.0% over the five years to 2015, but only at 1.2% over the five years to 2020.
The industry's mature life cycle stage reflects various factors. Slow growth in demand from US golf courses and the decline in US golf participation, in contrast to growing export markets are the main contributing factors... purchase to read more