Increasing popularity of racing is driving the Go Kart Market growth: Cognitive Market Research

Go Kart Market Overview

Product Overview and Scope of Go Kart

Go Kart also known as Kart is an open-wheel, compact, small-size sports car with a smaller height. This car is powerful to gain high speed in a shorter time period and come up with a variety of shapes and forms. They are available in a variety of styles, from motorless models to highly-powered racing vehicles with high-performance motors. They are used for competitive racing, ranging from local amateur races to professional championships among youngsters. Go-kart is used for karting purpose which means a type of racing (kart racing) in which the go-kart is used. The engines in the go-kart consist of two-stroke and four-stroke internal combustion engines in which the power is transmitted with the help of chains(belts) from the engine to the rear axle. Gas-powered go-karts were first used in the sport, but electric karts have since made an appearance, primarily at indoor facilities where extensive ventilation systems are otherwise required to dissipate engine fumes. 

Go Kart Market – Global Industry Analysis

Market Drivers

• The increasing popularity of racing is driving the growth of the go-kart market

Go-kart is one of the most popular motorsports among millennials. The popularity is increasing day by day as the number of racers is rising over the years. It has also been observed that some of the world-renowned F1 (Formula 1) racers have started off with casual karting at a very young age. They then moved on to take part in competitive races before joining the world of auto racing and Formula 1. Further, karting involves a wide array of go-karts, including off-road, racing, pedal, electric, and even drift karts. Each of these go-karts has a different application made by various go-kart manufacturers. The availability of indoor and outdoor karting further enhances its demand as there is no barrier to the weather while enjoying karting because of its indoor facility also. Nearly 35 million Americans participate in the sport of go-karting every year. After the pandemic recovery, participation in karting championships has increased dramatically. The Italian ACI Karting Championship held in 2022 has recorded the highest participation which has never been so high in the last 20 years. Around 1,357 participations with an average of 272 drivers and it was a peak record of 335 drivers in the opening of Franciacorta. 

• Increasing technological advancement in a go-kart is accelerating the growth of the market

Global Go Kart Revenue by Regions (2018-2023)

Global Go Kart Revenue and Market Share (%) by regions (2018-2023)

Global Go Kart Revenue (USD Million) by regions (2018-2023)

Global Go Kart market was valued at USD 142.08 Million in 2022 and is expected to grow at a CAGR of 3.9% over the forecast period from 2023 to 2030.

Global Go Kart Market Segmentation Analysis

Global Go Kart Market Segmentation

Type:

• Electric
• Gasoline
• Others

Application

• Rental
• Racing

Seating Capacity

• Single 
• Double Seater

End-Use

• Indoor
• Outdoor

Global Go Kart Market Players List

• Anderson-CSK
• Birel ART S.r.l.
• BIZ Karts LTD
• CRG kart 
• Margay Racing LLc
• OTL Kart
• Praga Kart
• RiMO GERMANY GmbH & Co.
• Sodikart S.A.
• TAL-KO Racing
• Mach1 kart
• Praga Export s.r.o
• IPK Karting S.r.L

Global Go Kart Market By end-use

On the basis of end-use, the go-kart market is segmented into indoor and outdoor. In 2022, the rental segment held the largest market share due to less risk of costly damage occurring as repairing is more cost-effective than buying go kart. Outdoor karts are specially designed to run off of paved surfaces such as concrete roads, asphalt highways or parking lots, and others.

Global Go Kart Market, by End Use

Source: Cognitive Market Research

On the other hand, the racing segment is gaining traction and is projected to grow with a significant CAGR during the forecast period. This growth is attributed to increasing demand for racing go kart in North America and Europe regions.

Global Go Kart Manufacturers Profiles/Analysis

Sodikart S.A.

Sodikart S.A. Basic Information, Manufacturing Base, Sales Area, and Competitors

Business Segment/ Overview:

Sodikart is a France-based company engaged in the manufacturing of different karts such as rental and racing karts. It also supplies kart accessories & equipment and organizes races & events. Sodikart distributes accessories and equipment developed by Sodikart under the brand name ITAKAshop since 1991. 

Recent Developments:

Business Strategy

Sodikart Company focuses on innovation and the use of advanced technologies while manufacturing the karts to offer good quality products to the customers which is expected to increase the brand value of the company. In addition, the company is engaged in quality maintenance of the karts which is optimizing the performance of the karts. In addition, the company is concentrating on customer needs and demands to develop a specific product which is also incasing the customer base of the company.