Go Kart Market: Global Industry Analysis and Forecast (2022-2029)

Go Kart Market was valued at US$ 107.45 Bn. in 2021 and is expected to grow at US$ 142.73 Bn. in 2029. Go Kart Market size is expected to grow at a CAGR of 4.14 % through the forecast period.
Go Kart Market Overview:
Go-kart is an open-wheel car, which is powerful to gain high speed in spite smaller in size & height. Go-karts come in all shapes and forms, from non-motorised models to high-performance racing karts. In addition, increase in trend to stay fit and rise in need for outdoor sporting events have boosted the demand for Go kart racing. It is designed to carry out several sporting & recreational activities by youngsters. The karts are typically made of steel tubing frames with automotive fiberglass body panels due to their lightweight and they usually range from 800cc motors up to 2000cc engines.



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They're used primarily as racing cars but will often see rental use on go-kart tracks where there is less risk of costly damage occurring because repairs are relatively cheap when compared to other types of vehicles such as motorcycles, quads, etc. Gravity racers, usually referred to as Soap Box Derby carts, are the simplest type of go-karts. They are propelled by gravity, with some races taking place down a single hill.

The report explores the Global Go Kart segments (Type, Application, Product, Seating Capacity and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Global Go Kart drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Global Go Kart contemporary competitive scenario.
Global Go Kart Market Dynamics:
The exponential increase in population along with rapid globalization & rise in purchasing power, increase in the number of race courses & country clubs, and inclination toward solar-powered Go karts are the factors which drive the growth of the market across the globe. The rise in demand for compact and manoeuvrable vehicles, which require small parking space and are efficient in operation is expected to boost the market of Go-kart during the forecast period. In addition, a growing number of racecourses & country clubs are propelling the market forward. Globalization on the other hand helps organizations to develop international influence, and this influence has helped change outlook of different regions. Globalization has helped people to vouch for a different and better lifestyle, which has encouraged people to spend more and get best service possible. Go kart. Thus, all these factors are anticipated to contribute toward the growth of the go kart market.

The factors such as high initial maintenance & purchasing cost and low overall drive range are the factors that hamper the growth of the market across the globe. Regular maintenance of Go-karts like service brakes, rear axle, and batteries needs additional cost which is the major restraining factor which hinders the growth of the Go Kart Market. Thus, high initial costs, as well as maintenance costs, are expected to hamper the growth of the market during the forecast period. Go karts are used as sports or utility vehicles for racing by users. In addition, go kart require regular maintenance which includes service brakes, rear axle, and batteries which sustains additional cost. Hence, high initial cost and maintenance cost are the major two factors which restrict the growth of the Go kart market.

The technological advancement in Go karts and reduction in cost of fuel cells & batteries are anticipated to create lucrative opportunities for the expansion of the market across the globe in the near future. An increase in population along with rapid globalization & rise in purchasing power creates many opportunities for the global Go-kart market. Reduction in the cost of fuel cells & batteries with advancements in technology and better operations have increased the sales of Go-kart, which are powered by electricity. Hydrogen offers increased mileage as it is stored in high-pressure below vehicles while considering on-board storage of energy. Thus, 1 kg of hydrogen cell is capable of storing 236 times more energy when compared with the lithium-ion battery. Go Carting League Activities is also providing the opportunities for the growth of the market. This is expected to create ample opportunities for market players operating in the Go-kart market.

Karting in the rain is the ultimate challenge for any professional racer. Wet driving comes with much less traction, which makes handling the kart very difficult. Also, the wet racing lines are different from the dry ones, adding an extra level of complexity to the kart’s handling. The rainy season is the biggest challenge which is faced during the growth of the Go Kart Market. The Industry Witnessed Fall Down During the Downturn Economic Situation and the Stiff Competition due to the other Go Kart Players in the Market are the challenges which are faced during the growth of the Go Kart Market.

COVID-19 Impact on Global Go Kart Market:

The COVID-19 pandemic had an adverse effect on the go kart market as there is sudden drop in the automotives sales. The insufficiency of raw materials during the pandemic also leads to the drop off market growth. The sakes dropped down due to the government restrictions and the lockdown which is imposed during the COVID-19 pandemic. Various companies operating in the automotive industry are stepping up by reconfiguring their supply chain, production, and services for delivery of critical medical supplies. Many small and big players in the automotive sector are witnessing issues such as halt in production activities and mandated plant closures by the government. There is a rise in the go kart market as the sales increases and the production of raw material rises, after the releasing of regulations which are imposed by the government. These are all the effect which is faced during the growth of go kart market during and after the COVID-19 pandemic.
Global Go Kart Market Segment Analysis:
Based on Product, The outdoor karting segment is expected to grow with the highest CAGR of XX% during the forecast period. It usually takes place at a racetrack, and it can also take place on public streets or sidewalks as well. Outdoor karts are designed to run off of paved surfaces like concrete roads, asphalt highways or parking lots, etc., but they will not work on grassy hillsides where there isn't any pavement that's why some tracks require drivers to stay in designated lanes when driving around the track. These factors lead to the growth of the go-kart market.



Based on the Application, The segment rental is dominating the market with the highest market share in the year 2021 due to various benefits offered by this application such as affordability. Rental is one of the most common uses for go-karts. They can be rented by individuals or groups to use as a recreational activity either at home, on vacation, or in public parks and recreation centers. Children's birthday parties are an example where rental might be used with kids from multiple families gathered together for the event. Kids get to ride around courses marked off with cones that provide safety boundaries while adults monitor them from outside the course area. This led to the growth of the Go Kart Market in rental segment.


Global Go Kart Market Regional Insights:
The North America region is expected to witness significant growth at a CAGR of XX% through the forecast period because of the increasing population, increase in per capita income, and improvement in living standards. There has been an increase in demand for comfort features in vehicles and fuel-efficient vehicles which leads to the growth of the market. The weight reduction of vehicles and enhanced energy efficiency is further driving the automotive industry. The other factors which are driving the growth of the Go Kart market include the development of marketing analytics tools and firmly established existing players in the market.

Asia-Pacific is considered to be the second-fastest growing market. The increasing research activities, growing demand for vehicles and parts, and an increasing number of initiatives by market players for expanding their presence in the APAC, and higher adoption of Go Kart in several APAC countries. Improvements in GDP per capita and infrastructure development have urbanized the region to a greater extent turning rural areas into urban areas. The sudden surge in the demand has caused the cities to fall into unsustainable consumption models.

The objective of the report is to present a comprehensive analysis of the Global Go Kart Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Go Kart Market dynamic, structure by analyzing the market segments and projecting the Global Go Kart Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Go Kart Market make the report investor’s guide.
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Global Go Kart Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US$ 107.45 Bn.


Forecast Period 2022 to 2029 CAGR:
4.14%
Market Size in 2029:
US$ 142.73 Bn.


 Segments Covered:
by Type
• Electric
• Gasoline
• Others


by Product
• Outdoor Karting
• Indoor Karting


by Application
• Rental
• Racing


by Seating Capacity
• Single
• Double Seater



Global Go Kart Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global Go Kart Market Key Players
• Anderson-CSK
• Birel ART
• BIZ Karts
• CRG
• Margay Racing
• OTL Kart
• Praga Kart
• RiMO Germany
• Sodikart
• TAL-KO Racing
• Carter Brothers
• Roketa
• Kinroad Runmaster
• Thunder Motorsports
• Alpha Karting
• Bowman Automotive
• Gillard
• Shenzhen Explorerkart
• OTK Kart
• Kandi Technologies
• Pole Position Raceway
• Goldenvale
• Speed2Max
• PVP Karting Frame
• Rotax
• American SportWorks
• Baja Motorsport

Frequently Asked Questions:

1] What segments are covered in the Global Go Kart Market report?
Ans. The segments covered in the Global Go Kart Market report are based on Type, Application, Product and Seating Capacity.

2] Which region is expected to hold the highest share in the Global Go Kart Market?
Ans. North America region is expected to hold the highest share in the Global Go Kart Market.

3] What is the market size of the Global Go Kart Market by 2029?
Ans. The market size of the Global Go Kart Market by 2029 is expected to reach US$ 142.73 Bn.

4] What is the forecast period for the Global Go Kart Market?
Ans. The forecast period for the Global Go Kart Market is 2022-2029.

5] What was the market size of the Global Go Kart Market in 2021?
Ans. The market size of the Global Go Kart Market in 2021 was valued at US$ 107.45 Bn.