Golf carts have transformed from simple electric carts to recreational carts that provide enhanced comfort and mobility options. Advancements in battery technology and lightweight yet durable materials have enabled golf cart manufacturers to introduce new models with superior performance. Rising interest in golf and increasing demand for recreational vehicles boosts demand for golf carts worldwide. Government support for infrastructure development of golf courses and clubs can drive the market growth. However, high maintenance and purchase costs of electric golf carts can hamper the market growth.

Market Dynamics:

Global golf cart market growth is driven by rising number of golf courses and golf tourism activities across regions. According to National Golf Foundation, over 15 million rounds of golf were played in the U.S. during 2017. Growing popularity of golf as a recreational sport has encouraged construction of golf courses worldwide, thus, boosting demand for golf carts. Golf cart batteries require periodic replacement, which increases operational expenses. Moreover, regional price fluctuations of raw materials used in manufacturing of carts can hamper the market growth. Introduction of economic rental models and pay-per-use cart services can present lucrative growth opportunities. Incorporation of latest technologies such as GPS tracking and Bluetooth connectivity in premium models is gaining popularity.

Key features of the study:

• This report provides in-depth analysis of the global golf cart market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global golf cart market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Cario, Club Car LLC, Columbia ParCar Corp., Cruise Car Inc., E-Z-GO (Textron Inc.), Garia Inc., Guangdong Marshell Electric Vehicle Co., Hawk Carts, HDK Electric Vehicle, KT Pan Company Limited, Polaris Industries, Sayulita Life.com, Suzhou Eagle Electric Vehicle Manufacturing Co., Textron Specialized Vehicles, Yamaha Golf-Car Company.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global golf cart market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global golf cart market.

Detailed Segmentation:

• By Type
  • Electric Golf Cart
  • Gasoline Golf Cart
  • Solar Golf Cart
• By Applications
  • Golf
  • Personal/Residential
  • Commercial
• By Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
• • Cario
  • Club Car LLC
  • Columbia ParCar Corp.
  • Cruise Car Inc.
  • E-Z-GO (Textron Inc.)
  • Garia Inc.
  • Guangdong Marshell Electric Vehicle Co.
  • Hawk Carts
  • HDK Electric Vehicle
  • KT Pan Company Limited
  • Polaris Industries
  • Sayulita Life.com
  • Suzhou Eagle Electric Vehicle Manufacturing Co.
  • Textron Specialized Vehicles
  • Yamaha Golf-Car Company