July 06, 2020
According to the research report titled ‘Global Karting Market Size study with COVID-19 impact, by Type (Outdoor Karting and Indoor Karting), by Application (Rental and Racing) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global karting market is projected to witness significant growth during 2020-2026.
Go-karts are open-wheel cars which come in all shapes and forms, including motor less designs to high-powered racing machines. Some of them consist of super karts, that can beat racing cars or bikes on long circuits. Go-karts are gaining popularity among teenagers due to benefits such as optimum performance, less maintenance cost, consistent power, pollution-free, minimum drag loss, and less torque fluctuation. Improving disposable income and consumer willingness to spend more money and time on leisure & sports activities is driving the growth of global karting market. Also, strict regulations by the government on carbon emission & pollution control are contributing towards the market expansion. However, limitation in distance covered by karting and recession in developed countries are restraining the market growth.
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Worldwide spread of COVID-19 infection, which lead to lockdowns and travel bans, has adversely hit the global karting market outlook, owing to disrupted tourism and temporary closure of sport complexes.
Based on type, karting market is divided into indoor karting and outdoor carting. With respect to the application spectrum, the industry is segmented into rental and racing.
Speaking of regional terrain, global karting market is fragmented into Europe, Latin America, North America, Asia Pacific, and Rest of the World. North America market is poised to gain substantial traction over the analysis timeframe, due to increase in disposable income.
Parallelly, Asia-Pacific market is projected to register highest CAGR over 2020-2026. Factors such as strict regulations aimed to curb carbon emissions and rapid industrialization would create a plethora of growth opportunities for the karting market in Asia-Pacific region.
Key players in global karting market are Sodikart, Shenzhen Explorer Kart, Praga Kart, Alpha Karting OTK Kart, Birel ART, OTL Kart, Kandi Technologies Corp., BIZ Karts Ltd., and RiMO Go Karts among others.