Global Golf Cart Battery Market 2019-2023

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Dec 27, 2018, 17:04 ET

NEW YORK, Dec. 27, 2018 /PRNewswire/ -- About this market

The lead- acid batteries have been the most cost- effective and preferred means of the power source in golf carts. However, the growth success of lithium- ion batteries in various devices across industries has resulted in the widespread adoption of this battery technology in the gold carts as well. The increasing production of lithium- ion batteries had led to lower the price of cost of battery packs. This can be attributed to their increasing adoption in the automotive industry and the development of the cost-effective manufacturing methods by vendors. The global golf cart battery market at a CAGR of over 5% during the forecast years.

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Market Overview
Increase in the popularity of professional gold tournaments
The interest in professional gold tournaments is increasing steadily as the sport continues to increase in popularity as a championship games. The growing popularity of professional golf tournaments and the increasing participation rates are driving the demand for golf carts, and subsequently will drive the growth of the market during our forecast period.
Surging interest in off- course golfing
Off- course golf outlets include indoor simulators, driving rages and other popular locations. These off- course gold locations can accommodate all kinds of players irrespective of the age or skill levels. In addition, these outlets appeal to all types of people, including these who otherwise would not participate in golf. Therefore, the growing popularity of off- course golf participation will hamper the growth of the cart battery.
For the detailed list of factors that will drive and challenge the growth of the golf cart battery market during the 2019-2023, view our report.

Competitive Landscape
The golf cart battery market is moderately fragmented owing to the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

Read the full report: https://www.reportlinker.com/p04973805

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