The global karting market is anticipated to grow at a CAGR of 3.6 % during the forecast period (2022-2028). The rising popularity of go-kart racing among youngsters has boosted demand which will support the market growth during the forecast period. Consumers are willing to spend more time and money on recreation as the population grows, and sport is one reason driving the market expansion of the karting market. A go-kart is a form of open-wheel automobile or quadracycle that is smaller in size and height but powerful enough to reach high speeds in a short period of time. It is intended for children to participate in a variety of sporting and leisure activities. Go-karts come in a variety of shapes and sizes, ranging from motorless models to high-powered racing machines with high-performance motors. In addition, the growing trend of staying fit and the desire for outdoor sporting events have bolstered go-kart racing demand.
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Factors such as population growth, rapid globalization, rising purchasing power, an increase in the number of race tracks and country clubs, and a preference for solar-powered Go-karts all contribute to the market’s growth over the forecast period. Globalization, on the other hand, assists organizations in gaining international influence, which has influenced the outlook of various places. People have vouched for a new and better lifestyle as a result of globalization, which has motivated them to spend more and receive the best service available. Go-kart. As a result, all of these variables are expected to contribute to the global market’s expansion.
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With a global emphasis on being environmentally responsible, electric karts are sustainable, and a zero-emission electric kart is ideal. The players are producing no dangerous or toxic fumes, making them suitable for use in indoor facilities such as SMAASH Sky Go-Karts. Gas cart engines, like old automobiles on the road, can pollute the environment by emitting exhaust smoke. Furthermore, they can generate a lot of noise during operation, which is why normal go-kart trucks are usually built-in isolated residential areas.
With a growing number of electric vehicle purchasers across the globe, market growth is accelerating. For instance, according to the IBEF, the Indian EV market is also growing quickly, with about 0.32 million vehicles sold in 2021, up 168 % year on year.
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Due to its applications, such as affordability, the Rental category has a big portion of the market. It is one of the most popular applications for electric karts. Individuals or groups can rent them at home, on vacation, or for recreational activities in public parks and recreation centres, which is a factor driving the karting Market growth during the forecast period.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Sodikart, Praga Export r.o., OTK KART USA, RiMO GERMANY GmbH & Co. KG, Birel ART Srl, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Karting Market Report by Segment
By Type
- Outdoor Karting
- Indoor Karting
By Application
- Rental
- Racing
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