Global Turf and Golf Cart Tires Market Size – Industry Trends & Forecast Report 2027
The Global Tuft and Golf Cart Tires market is expected to reach a significant value of USD by the year 2027 at a steady CAGR of …. % during the forecasted period. Over the last few years, the global turf and golf cart tires market has witnessed an upsurge in the market scenario. In this report, various aspects of market growth are analyzed in terms of market ratio and size, industry overview, and growth rate. Recent development trends help in examining the growth in revenue rates in both regional as well as a global facet. Key manufacturers in terms of value and volume along with opportunities and restraints of the market are offered in-depth in this report.
Source: BlueWeave Consulting
Global Turf and Golf Cart Tires Market Overview:
The Global turf and golf cart tires market is expected to witness a rise in the regional as well as global structure. This report portrays an initial and upcoming assessment of the market with an analysis of the rapidly changing market. The turf tires offer a maximum grip with minimum disturbances because they have wider footprints and distinctive tread designs making them reliable and reduced weight disbursement. In landscaping industries and golf course fields, landscaping and mowing are extremely important which will act as a growth driver for the turf tires market. The golf cart tires are designed to work in various applications such as turf impedimenta, golf carts, land mowers, rototillers. These golf carts, utility vehicles, and low-speed electric vehicles will drive the turf and golf cart market. The in-depth study of product scope, competitive circumstances, opportunities, and risks along with profiles of key players are offered in this report. Apart from highlighting the requisite features of the market, investigation of historical data and future evaluation by experts are covered in this report. Development trends, growth factors, and segmentation associated with the market estimation are described in this report along with product types and applications.
Global Turf and Golf Cart Tires Market Forecast and Trends
Rising demand for solar golf carts will drive the market
Due to the rising concerns of the fuel emission rate of vehicles, solar golf carts are highly in demand. These golf carts utilize solar energy and get power by photovoltaic (PV) or thin-film panels installed on the roof or by making the PV panel as its roof. These carts require tire tread patterns depending upon the needs and applicability. For golf turf straight rib and sawtooth, and, for green mowers smooth or no tread tires are used whereas for off-road, mud, sand, and lifted application, knobby types are taken into consideration. This will offer a solution to the global emission problem by utilizing renewable energy resources. These factors are taken into count while evaluating the market which will act as an element to upsurge the market layout.
High Costing may add up to its limitation
The carts, however, being economical can be affected by soaring prices of tires as the cost for turf and golf cart tires are high compared to normal tires. Often quality and other beneficiaries of these tires can’t remove the hindrance of buyers because of the high costs. Also, with the advancement of technologies, computer-aided designs along with modified product designs make the prices go upsurge. These computer-aided vehicles come with various operational convenience and offer comfort to another level. But installing these turf and golf tires on the vehicles brings the cost of the overall vehicle on a much higher side. Until a caping for the prices are not made out, the price will continue to act as a restraint for the turf and golf tires market.
Impact of COVID-19 in the industry
The global turf and golf tires market is affected by the COVID-19 pandemic. After the spread of this virus, restraints in movement and lockdowns were imposed in several countries which heavily impacted the supply chain system of the turf and golf tires.
As the manufacturing of these turf and golf tires was halted due to a lack of workforces, the supply chain management system got delayed. Also, with limited supply, the prices tend to go higher, which acted as a constraint for the turf and golf tires market. As a result, a decline in the growth of the market was seen due to this pandemic in both global as well as the regional scenario.
Global Turf and Golf Cart Tires Market: By Type
The global turf and golf tires market can be segmented based on type by categorizing it into two types namely 4 inch to 8-inch wheels and 9 inch to 15-inch wheels. This product describes briefly both the types by analyzing the applicability, trends, and demands for both the types. An in-depth study of both types offers a clear perspective to the manufactures as well as consumers by helping them with their extensive properties and features. While both these types find applicability to various products, each wheel has its characteristics. Therefore, it becomes more feasible to understand the traits of both wheels to utilize their maximum efficiency.
Global Turf and Golf Cart Tires Market: By Application
The global turf and golf tires report specifies segments based on an application that varies from many products. Golf carts, Rototillers, tubes for lawn tractors, and riding mowers are some of the products where these tires find usage. A huge line of products can be made to utilize these tires according to their utility and requirements. Golf carts mainly use golf tires as they are highly smooth and stable which offers a comfortable application of grounds. These tires find usage in land mowers and tillers by offering a maximum grip with minimum disturbances. Due to these phenomenal properties, these tires have opted for various works and products.
Global Turf and Golf Cart Tires Market: Regional Insights
The global turf and golf cart tires market expanded across the globe has seen a significant development on both a regional as well as global scale. By analysis, it is found that North America is leading the market followed by China in the Asian subcontinent. The usage of these tires is extensive in North America as golf is a prominent sport played there. Also, huge properties around the continent use electric vehicles for commuting internally. This makes these tires more in demand in these places. On the other hand, Europe is also seen to be contributing heavily to this market where the ratio of consumers to buyers is very high. These turf and golf tires are highly in demand in Europe. In Asia, Japan and Korea are also rising as a key player in regional development where these tires are highly in demand. Owing to the current development, India is also seen as an emerging market like electric vehicles and other environment-friendly equipment are widely used. The government of India is also inclining towards renewable energy sources, which will make a positive effect on the market scenario. With South America, Africa, and the rest of the world, the market for these tires may not be so stringent as more and more people are intended to use these environment-friendly products.
Prominent players in the global turf and golf cart tires market includes Bridgestone Corporation, Michelin Corporation, Goodyear, Continental Tyre Group Ltd, Pirelli Tire LLC, Alliance Tire Group, Balkrishna Industries Limited, Xuzhou Armour Rubber Company Ltd, TVS Srichakra Limited, OTR Wheel Engineering, Inc., Hwa Fong Rubber Ind Co Ltd, Tianjin Wanda Tire Group Co., Ltd., ChemChina Guilin Tire Co Ltd, Deestone Company Limited, Cheng Shin Rubber Ind. Co., Ltd, Trelleborg AB, Giti Tire Pte. Ltd, Apollo Tires Limited, Kumho Tire Co., Inc., Xingyuan Tires Group Co., Titan Tire Corporation, Triangle Tyre Co., Ltd, Guizhou Tyre Co., Ltd, Kenda Rubber Industrial Co. Ltd, The Carlstar Group LLC and others.
Scope of the Report
Historical data – 2016-2019
Base Year – 2020
Forecast – 2020 – 2027
Revenue in USD Billion
North America, Europe, China, Japan, Middle East & Africa, India, South America, and Others
By type, by application and regional channel
Key players in the global turf and golf cart tires market are Bridgestone Corporation, Michelin Corporation, Goodyear, Continental Tyre Group Ltd, Pirelli Tire LLC, Alliance Tire Group, Balkrishna Industries Limited, Xuzhou Armour Rubber Company Ltd, TVS Srichakra Limited, OTR Wheel Engineering, Inc., Hwa Fong Rubber Ind Co Ltd, Tianjin Wanda Tire Group Co., Ltd., ChemChina Guilin Tire Co Ltd, Deestone Company Limited, Cheng Shin Rubber Ind. Co., Ltd, Trelleborg AB, Giti Tire Pte. Ltd, Apollo Tires Limited, Kumho Tire Co., Inc., Xingyuan Tires Group Co., Titan Tire Corporation, Triangle Tyre Co., Ltd, Guizhou Tyre Co., Ltd, Kenda Rubber Industrial Co. Ltd, The Carlstar Group LLC and others.
Scope of the Report
Ø By Type channel
· 4 Inch To 8 Inch Wheels
· 9 Inch To 15 Inch Wheels
Ø By Application Outlook
· Tubes For Lawn Tractors
· Turf Equipment
· Golf Carts
· Roto Tillers
· Riding Mowers
Ø By Region
· Asia Pacific
· North America
· Middle East & Africa
· Latin America