Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Go Kart Market (Type: Electric Type, Gasoline Type, Petrol Type; Application: Indoor, Racing, Recreation, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2022”, estimates that global go kart market is expected to reach the market value of around $88 million by 2022 and is expected to grow at a CAGR of around 2.5% in terms of revenue during the period 2018 – 2022.
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Go-kart racing is a leisure activity for almost all age groups from individuals to families. Today, people spend more time on adventure sports and relaxation, thus raising the demand for go-kart racing. The go-kart business is generally relied on financial conditions. The go kart industry witnessed fall down during the downturn economic situations because people didn’t have money to spend for entertainment activities. Go-kart racing is an optional expense for people of different sector. Consequently, downstream demand is dependent on the level of disposable income that each person earns. When disposable income is healthy, consumers are more willing to spend wealth on leisure activities such as go-kart races. In 2018, per capita income is projected to increase, presenting a potential opportunity for this industry in the near future.
Global go kart market is segmented by type, application and geography. Based on different types, the market is segmented into electric type, gasoline type, and petrol type. Also, by application go kart is further bifurcated into Indoor, Racing, Recreation, Others. Based on geography market is further classified into North America, Europe, Asia-Pacific, LAMEA.
Indoor Segment Held Largest Share In Go Kart Market
One of the key pros of indoor segment in go karting market is that it tenders a climate-controlled racetrack. On a slick, indoor track, as compared to outdoor tracks are safer to drive in karting games, so it's comparatively less risky travelling at higher speeds. Moreover, indoor karts segment typically offer extra safety features compared to regular outdoor go karting. Besides, indoor karting is open to all abilities and allows customers to get experience driving karts and get a foot in the door to improve further if one would like to. Also, indoor tracks are cheaper compared to outdoor tracks, particularly when you take into consideration the amount you save on travelling. This allows those who want to start getting involved in the karting scene to try it out and make sure they enjoy this sport experience. It also makes it suitable for family, friends, and corporate events who would like to go out for a fun day of karting. As a result, indoor go karting is more preferable by consumers and holds the prime market share globally.
Gas Type Go Karting is Driving The Market
A key Benefit that gas kart type has over electric type is that it can last for a long run whereas due to charging ability, electric kart runs for the specific time until the charging lasts, while gas karts simply require a fuel refill. On the other hand, this is something that will never affect one as a driver as they have plenty of karts to support this kind of situation. Moreover factors such as responsive handling due to lighter weight, longer race life, stronger competition kart due to responsiveness and race life, cheaper maintenance, lower utility costs makes gas kart one of the favorite among people consequently increasing the go kart marking.
Regulatory Norms May Increase Capital Investment
For establishing a go kart business, local municipal authority’s clearance is mandatory in many countries. Most of the local authorities have set severe norms related to noise pollution and activities that may disturb people residing in the surrounding area. For instance, precise regulations for governing track characteristics has been set in New Jersey, whereas California just allows racing tracks. Local authorities also might have regulations that necessitate protective barriers to separate spectators from the tracks. They also force certain regulations to safety gear for the drivers and go-karts. It is mandatory to make a special arrangement for gasoline storage, thus resulting in high capital expenditure and minimizing the returns and consequently curbing down the go kart market growth.
Business Awareness For New Players
Setting up go-kart commerce is relatively straightforward, so plenty of new businesses popped up over the years following the recession due to the aspects such as go-kart manufacturing plant doesn’t require massive space. In addition, small businesses capture about two-thirds revenues of go-kart industry. Each of these companies usually possesses only one go-kart business. The financial outlay is also reasonable, and you can anticipate seeing returns in little time. One can set up operations near an already recognized recreational center and capture lots of similar clients. Conversely, one might need to invest more capital since these locations are often costly. Consider locations where construction costs and lease are available at lower prices.
Some of the vital players operating in the global go kart market, profiled in the report include Karter Brothers, Roketa, Runmaster, Thunder Motorsports, BIZ Karts, Alpha Karting, Gillard, Barlotti, Bowman Automotive, Anderson Racing Karts, Margay Products Inc., PVP Karting Frame, Rotax, Tal-Ko, Bizkarts, American SportWorks, Baja Motorsports, and others.
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Major Points from Table of Contents:
Chapter 1. Industry Overview of Go Kart
Chapter 2. Manufacturing Cost Structure Analysis of Go Kart
Chapter 3. Technical Data and Manufacturing Plants Analysis of Go Kart
Chapter 4. Global Go Kart Overall Market Overview
Chapter 5. Go Kart Regional Market Analysis
Chapter 6. Global 2012-2017E Go Kart Segment Market Analysis (by Type)
Chapter 7. Global 2012-2017E Go Kart Segment Market Analysis (by Application)
Chapter 8. Major Manufacturers Analysis of Go Kart
Chapter 9. Development Trend of Analysis of Go Kart Market
Chapter 10. Go Kart Marketing Type Analysis
Chapter 11. Consumers Analysis of Go Kart
Chapter 12. Conclusion of the Global Go Kart Market Professional Survey Report 2016
Chapter 13. Methodology and Data Source
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