Global Karting Market is valued approximately USD XXX Billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2019-2026. Karting is a type of open-wheel car. Go-karts are available in all shapes and forms, from motor less fashions to high-powered racing machines. a few, consisting of Super karts, can beat racing cars or bikes on long circuits. The outbreak of COVID-19 and its ensuing outcomes such as border lockdowns, shutdowns, travel bans have started out to effect groups across diverse industries. The go-karts marketplace is anticipated to have a medium effect owing to the disruptions in the worldwide supply chains. Benefits such as less maintenance cost, pollution-free, optimum performance, minimum drag loss, consistent power, and less torque fluctuation are the factors attaining the popularity of go-carts among teenagers. Consumers are willing to spend more time and money on leisure and sport has triggered the growth of the electric karting market. Therefore, rising disposable income of people across the developed and emerging economies are the factors accelerating the growth of market over the forecast years. For instance: According to the government of India 2019, the per capita income in 2018 was stood at USD 134.18 and expected to increase with 10% till 2019 that is USD 147.54. Also, according to the United States Census Bureau, the median per capita income of US in 2017 was USD 31,982 and increase to USD 33,706 till 2018. In addition, stringent regulations of government regarding carbon emission and pollution control are the factors driving the growth of karting market over the forecast years. However, recession in developed countries and less distance range covered by karting are the factors hampering the growth of market.
The regional analysis of global Karting market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in disposable income of people in the economy. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as stringent regulation regarding carbon emission and rapid growth in industrialization are the factors would create lucrative growth prospects for the Karting market across Asia-Pacific region.
Major market player included in this report are:
RiMO Go Karts
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Karting Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers