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Golf cart battery Market 2021 Economic Environmental Analysis
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Market Highlights
Global Golf Cart Battery Market is projected to be valued at 6.21% CAGR during the forecast period, 2020–2026. In the current scenario, industries engaged in events, camping, and golf tourism require golf cart batteries for ensuring improved durability and lower cost. These new generation batteries are technically sufficient to upgrade the life span of a device. Lithium-ion and lithium-air batteries are some of the types of batteries that are used in various industries.
Global Golf Cart Battery Market, 2020–2026
In 2019, North America dominated the golf cart battery market in terms of share: MRFR
Global Golf Cart Battery Market Trends is projected to grow at 6.21% CAGR during the forecast period.
The cart battery market has been segmented into five regions: Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. North America is expected to hold the largest share of the market during the forecast period. The growing exposure of golf as a sport and high demand from commercial establishments is supporting the demand for golf cart batteries in the region. Europe is expected to be the second-largest market for golf cart batteries owing to the increasing deployment of advanced batteries in electric barges and boats. In Asia-Pacific, countries such as China and India are significantly focusing on the automotive sector, which is expected to be one of the major end users of golf cart batteries owing to its large population base. In the Middle East & Africa and South America, golf cart batteries gain exposure due to urbanization.
The global golf cart battery market has been segmented based on battery type, product type, and application. Based on battery type, the golf cart battery market is divided into lithium-ion and lead acid batteries. The lithium-ion segment is expected to hold the largest share within the global market during the forecast period. Increasing concerns regarding global warming and environmental pollution may be well served with advances in lithium-ion batteries. Moreover, the manufacturing cost of lithium-ion batteries is declining significantly, which is expected to increase the scale of production for lithium-ion batteries. Based on product type, the golf cart battery market is divided into 6V, 8V, and 12V. The 6V segment is expected to hold the largest share during the forecast period due to its wide application to power golf cars, electric boats, and others. By application, the global market is divided into golf cart, electric coach, and others. The golf cart is expected to hold the largest share globally due to growing golf tourism.
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Drivers
Scope of the Report
This report provides an in-depth analysis of the global Golf cart battery Market Analysis, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global golf cart battery market by battery type, product type, application and region.
- Battery type
- Lithium-ion battery
- Lead acid battery
- Product type
- 6V
- 8V
- 12V
- Application
- Golf cart
- Electric coach
- Others
- By Region
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
Key Players
The Key Players in the Global Golf Cart Battery Market are C&D Technologies Inc., Clarios, Crown Battery Manufacturing Co., Enersys, East Penn Manufacturing Co., Inc., Exide Industries Ltd, GS Yuasa Corp., Samsung SDI Co. Ltd., Leoch International Technology Ltd., and ReLiON Batteries.
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