Golf Trolley Market Expected to Behold a CAGR of 3.7% through 2025: Grand View Research Inc.
The global golf trolley market size is expected to reach USD 195.4 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.7% over the forecast period. Increasing adoption of golf as a recreational activity by the young population is driving the demand for the product across the globe. Furthermore, continuous product innovation by the key manufacturers including Motocaddy and RolleyGolf Experience is expected to propel the industry growth in the near future.
The electric product segment is anticipated to witness the fastest growth from 2019 to 2025. Benefits such as lightweight and requirement of less physical effort associated with these products are boosting the product demand among the consumers. In addition, they have gained significant popularity among the players who are suffering from health issues.
Manufacturers have been incorporating innovative features to these electronic products in order to attract new consumers and gain a competitive advantage. For instance, in March 2019, Motocaddy, one of the leading manufacturers of the world, introduced its upgraded S1 model powered trolley. This new remote-controlled model incorporates features including sunlight friendly LCD screen, battery meter, speed indicator, and compact-folding.
As of 2018, the non-commercial application segment held the largest share of more than 60.0%. Increasing penetration of public clubs over the world is fueling the application segment. Over the past few years, the public clubs have attracted a large number of consumers as they are comparatively less expensive than the private clubs.
North America dominated the golf trolley market in 2018, contributing over 50.0% share of the global revenue. Largest number of courses that is more than 15,000 courses are present in U.S. Furthermore, high purchasing power of the consumers of this nation has been allowing them to spend a large amount in leisure activities.
Major producers of this industry include Bat-Caddy; Motocaddy; Golf Tech Golfartikelvertriebs GmbH; Adept Golf; THE PROACTIVE SPORTS GROUP; SUN MOUNTAIN SPORTS; Cart Tek Golf Carts; SPITZER Products Corp.; Axglo International Inc.; and Bag Boy Company.
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Further key findings from the report suggest:
- The electric product segment held the largest share of over 65.0% in 2018
- Online distribution channel is expected to expand at the fastest CAGR of 4.2% over the forecast period
- The non-commercial application segment held the largest share of more than 60.0% in 2018
- Asia Pacific is expected expand at the fastest CAGR of 4.9% from 2019 to 2025
- North America held the largest share of more than 50.0% in 2018.
Grand View Research has segmented the global golf trolley market on the basis of product, application, distribution channel, and region:
Golf Trolley Product Outlook (Revenue, USD Million, 2015 – 2025)
Golf Trolley Application Outlook (Revenue, USD Million, 2015 – 2025)
Golf Trolley Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
Golf Trolley Regional Outlook (Revenue, USD Million, 2015 – 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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