Global Cart Batteries Market, By Type (Lead-Acid Batteries, Li-Ion Batteries), Battery Voltage (6 Volts, 8 Volts, 12 Volts), Drive Type (36V Electric Drive, 48V Electric Drive), Seating Capacity (2 – 4 Seater, 6 – 8 Seater, 10+ Seater), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Cart Batteries Market
The cart batteries market is expected to witness market growth at a rate of 5.20% in the forecast period of 2021 to 2028 and is expected to reach USD 5,448.47 million by 2028. Data Bridge Market Research report on cart batteries market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. Cost advantage of lead-acid batteries over other batteries is escalating the growth of cart batteries market.
Carts mostly are battery-operated vehicles which are simple in construction and possess maximum speed of up to 31 kmph making them safe and favorable vehicles that could be used at public places including railway stations, airports and tourist spots other than golf courses. These vehicles are known to be easy to operate and do not require trained professionals. The cart batteries play a crucial role of power source in the electric golf cart similar to fuel in conventional vehicle. The range of the golf cart depends on the type of battery used.
The favorable government regulations regarding the production of the vehicle and simple manufacturing process are the major factors driving the cart batteries market. Rapid urbanization, rise in industrialization especially in the developing nations boosting mall culture, emergence of hi-tech and smart housing projects, amusement and theme parks projects accelerate the cart batteries market growth. The rise in demand for these carts as internal transport vehicle with the purpose of carrying people and goods and the increasing adoption of carts among population influence the cart batteries market. The growing utilization of carts in numerous sectors as a form of internal transportation and the expansion of manufacturing industry also propel the cart batteries market. Additionally, surging tourism activities, high investment in hospitality sector, construction of new hotels, resorts/golf resorts and golf courses, change in lifestyle, shift in consumer preference and increasing disposable income positively affect the cart batteries market. Furthermore, expansion of tourism and hospitality sectors holding major part of service sector especially in emerging nations and technological advancement extend profitable opportunities to the cart batteries market players in the forecast period in the forecast period of 2021 to 2028.
On the other hand, the high cost, requirement of protection from being overly charged or discharged and ageing are the factors expected to obstruct the cart batteries market growth. The rise in concerns regarding their limited transportation facilities and keeping up with the continuous developing technologies are factors projected to challenge the cart batteries market in the forecast period of 2021-2028.
This cart batteries market in report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on cart batteries market in contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Cart Batteries Market Scope and Market Size
The cart batteries market is segmented on the basis of type, battery voltage, drive type and seating capacity. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the cart batteries market is segmented into lead-acid batteries and li-ion batteries.
- On the basis of battery voltage, the cart batteries market is segmented into 6 volts, 8 volts and 12 volts.
- On the basis of drive type, the cart batteries market is segmented into 36v electric drive and 48v electric drive.
- On the basis of seating capacity, the cart batteries market is segmented into 2 – 4 seater, 6 – 8 seater and 10+ seater.
Global Cart Batteries Market Country Level Analysis
The cart batteries market is analyzed and market size, volume information is provided by country, type, battery voltage, drive type and seating capacity as referenced above.
The countries covered in the global cart batteries market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the cart batteries market due to the strong golf industry, presence of numerous golf courses and high demand for carts from commercial establishments in the region. Asia-Pacific is expected to witness the highest growth during the forecast period of 2021 to 2028 because of the increasing adoption of carts in numerous applications rather than in golf industry and rising tourism activities in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cart Batteries Market Share Analysis
The cart batteries market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to cart batteries market.
The major players covered in the cart batteries market report are Universal Power Group, rojan Battery Company, EXIDE INDUSTRIES LTD., Merriam-Webster, Incorporated, Amstron, Microtex Energy Private Limited, Johnson Controls, ACDelco, CROWN BATTERY, Harris Battery, SAMSUNG, Clarios, Shenzhen Sunnyway Battery Tech Co.Ltd., C&D Technologies, Inc., East Penn Manufacturing Company, ENERSYS, GS Yuasa International Ltd., leoch International Technology Limited Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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