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The global golf cart market size reached approximately USD 1.44 billion in 2023. The market is estimated to develop at a CAGR of 4.5% in the forecast period of 2024-2032, reaching a value of around USD 2.16 billion by 2032.
Base Year
Historical Year
Forecast Year
Global Golf Cart Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 1.44 |
Market Size 2032 | USD Billion | 2.16 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 4.5% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 5.1% |
CAGR 2024-2032 - Market by Country | India | 5.8% |
CAGR 2024-2032 - Market by Country | China | 4.9% |
CAGR 2024-2032 - Market by Type | Electric Golf Cart | 7.3% |
CAGR 2024-2032 - Market by Application | Golf | 4.4% |
Market Share by Country 2023 | Canada | 3.5% |
Electric golf carts increasingly use lithium batteries, offering efficiency, fast charging, low maintenance, and eco-friendly benefits over lead-acid options.
December 2022
Saera Electric Auto launched its advanced electric golf cart in India, featuring monocoque frame, luxurious interiors, AC drive system, and LED lighting.
NOvember 2022
Neuron Energy launched its Adler electric golf cart range with lithium-ion batteries, including GPRS tracking, targeting exports to the Middle East.
Expand electric golf carts for urban mobility, leveraging eco-friendly trends and innovative battery technology.
The golf cart industry offers a great opportunity in relation to the trend toward eco-friendly and versatile transportation: electric, lithium-ion battery-powered carts that will contribute to the achievement of sustainability goals. It is widely spread not only in golf courses but also in resorts, campuses, and cities as a part of their urban mobility, thereby boosting the golf cart market opportunities. Neuron Energy's Adler golf cart with GPRS tracking and Saera Electric's luxurious carts represent innovations driving demand. Market players can capitalise by catering to different applications, marketing technology and targeting export markets such as the Middle East.
Golf carts now feature GPS for navigation, distance tracking, and course management.
Modern golf carts increasingly pack in GPS technology to increase the functionality of the vehicle. Their systems are available with real-time course mapping, accurate distance to greens and hazards, and pace-of-play monitoring, thereby boosting the golf cart market dynamics and trends. The "Visage" system from Club Car allows golfers to have direct access to digital scorecards, on-course navigation, and food-and-beverage ordering from the comfort of the cart. Furthermore, this assists golf course operators to track cart locations, which significantly improves safety by restricting the access to restricted areas, while at the same time improving fleet management. These innovations dramatically improve the golfing experience.
The shift to electric golf carts for sustainability drives market growth.
A huge driver of growth of golf cart market is the surging demand for electric vehicles because of their eco-friendly benefits and cost savings. Since sustainability now heralds the future, electric golf carts have begun to be in high demand among golf courses, resorts, and personal users. For example, Yamaha Golf-Car Company has been gradually introducing more electric golf carts, such as the Drive2 EFI, which offers lower fuel consumption, reduced emissions, and lower maintenance costs, increasing its market adoption.
High costs, limited battery life, regulations, seasonal demand, and competition hinder market growth.
“Golf Cart Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Region
CAGR 2024-2032 - Market by | Region |
Asia Pacific | 5.1% |
Europe | 4.0% |
North America | XX% |
Latin America | XX% |
Middle East and Africa | XX% |
Players focus on electric, solar, and gasoline carts to meet eco-friendly transportation demand.
Golf cart industry players are introducing and growing electric golf carts to capture increasing demand for eco-friendly and cost-effective transport solutions. As per golf cart market analysis, they are continually upgrading the performance, battery life, and the charging infrastructure associated with electric carts. A growing interest is also being observed in solar golf carts, thereby making use of renewable energy sources for attaining sustainability and energy efficiency. Players are also investing in gasoline golf carts for regions where electric infrastructure is scarce, thus ensuring a broad market coverage and catering to the varied needs of consumers.
Golf, residential, and commercial applications are expanding with eco-friendly, customizable golf cart options.
The global market for golf carts is witnessing major growth across its various applications. Golfers rely very heavily on these carts to traverse the course, with the availability of GPSs and electric motors assisting modern technology. As per golf cart industry analysis, the personal/residential segment is also gaining momentum as more customers are using their golf carts for neighbourhood transport, especially in retirement communities and gated areas. In the commercial segment, golf carts are increasingly being adopted for use in resorts, airports, and large estates for efficient transportation. The demand for eco-friendly and customizable options is driving growth in all segments.
North America Golf Cart Market Opportunities
The North America golf cart industry is associated with vast opportunities in light of the rapidly evolving demand for eco-friendly vehicles and golf course additions. Moreover, the surging trend of eco-friendly electric golf carts in residential and commercial segments continuously fuels growth in the market. In addition, customised carts and associations with sports organisations such as those branded by NFL have further improved consumer appeal. Increased adoption in resorts, gated communities, and airports further propel demand. Government incentives for electric vehicles also help to fuel the market.
Asia Pacific Golf Cart Market Trends
The Asia Pacific market for golf carts is driven by a growing demand for electric vehicles as well as increasing tourism and golf course infrastructure. Economies such as China and India are witnessing an increasing adoption of environment-friendly transport solutions in the residential, commercial, and leisure segments. Market growth is also supported by government initiatives that promote sustainability and encourage adoption of electric vehicles. The trend of gated communities and resort development also adds to the high demand for golf carts in this region.
Europe Golf Cart Market Dynamics
The increased demand for ecological transportation and golf tourism services is helping to grow the Europe golf cart industry. Electric golf carts are becoming trendy in the United Kingdom, Germany, and France, where end-user interest is increasing, backed by environmental concerns and governmental incentives for electric vehicles. Growing demand for sustainable resorts and gated communities is also seen in the market, as consumers require energy-efficient and tailor-made golf carts for recreational and practical uses alike.
Middle East and Africa Golf Cart Market Drivers
The growth of luxury resorts and golf courses in areas such as the UAE and South Africa is driving the golf cart industry in the Middle East and Africa. The rising demand for environmentally friendly transport solutions, particularly electric golf carts, is also driven by this trend. Furthermore, increasing efforts on the part of the government towards sustainable mobility and investments in gated communities and tourism infrastructure are driving golf cart adoption in the region.
Latin America Golf Cart Market Insights
A distinctive growth driver for the Latin America golf cart market is its booming tourism sector, especially in Mexico and the Caribbean. Increased demand for golf carts is witnessed at many resorts and golf-driven holidays as golf carts are the only mode of transportation for tourists that have scattered property, thus requiring accommodation for large hospitality resorts. Such a trend is further enhanced by luxury tourism and emerging golf courses, open and easily accessible to both locals and international tourists.
The golf cart market players are focusing on sustainability by operating electric golf carts, reducing emission, and lowering the cost of operation. They are also upgrading technology with a focus on GPS connectivity and Bluetooth features while enhancing the battery to improve performance. Golf cart companies are focussing on high personalization, wherein the design may be customised or they may have formed partnerships with brands such as NFL teams, and focus on catering to a large demand for environment-friendly and lifestyle-oriented vehicles.
Key industry leaders in this market are:
Yamaha Motor Co., Ltd., founded in 1955, is a major mobility manufacturer, headquartered in Shizuoka, Japan. Its product portfolio includes motorcycles, e-bike systems, golf cars, industrial robots, and electric motors, among others.
Garia ApS, incorporated in 2005, is a producer of luxury golf cars, with its headquarters in Greve, Denmark. The company mainly offers high-end two, four, and six-seater golf cars that are inspired by Danish designs.
Textron Inc. is a multinational provider of aerospace and defence and industrial products, established in 1923 and based in Rhode Island, the United States. Some of its popular brands include Bell, Cessna, Pipistrel, Kautex, and Textron Systems, among others.
Other golf cart market players include Marshell Electric Vehicle Co., Ltd., Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd., HDK Electric Vehicle, Dongguan Excar Electric Vehicle Co., Ltd., Club Car, LLC, STAR EV Corporation, and Speedways Electric, among others.
August 2024
LOBO EV Technologies launches solar-powered golf carts, with 33 units sold in the United States, highlighting its commitment to sustainable transportation and growing market presence.
July 2024
Kandi America partners with Lowe’s to launch NFL team-branded electric golf carts, combining team pride with eco-friendly technology for football fans this fall season.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 1.44 billion.
The market is projected to grow at a CAGR of 4.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 2.16 billion by 2032.
The major market drivers are the growing popularity of golfing as a sport and the growing usage of golf cart vehicles in the hospitality sector.
The key trends of the market include the burgeoning popularity of solar-powered golf carts, the deployment of lithium batteries in electric golf carts, and the growing prominence of street-legal golf carts.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Various golf cart types are electric golf cart, gasoline golf cart, and solar golf cart.
The key players in the market Yamaha Motor Co., Ltd., Garia ApS, Textron Inc., Marshell Electric Vehicle Co., Ltd., Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd., HDK Electric Vehicle, Dongguan Excar Electric Vehicle Co., Ltd., Club Car, LLC, STAR EV Corporation, and Speedways Electric, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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