GOLF CART MARKET ANALYSIS

The high costs of electric golf carts can hamper the global golf cart market growth. Golf carts that run on electricity tend to be more expensive than their gasoline-powered counterparts. This high initial investment required to purchase an electric golf cart poses a major challenge for its widespread adoption, especially in cost-sensitive markets.

Electric golf carts are equipped with lithium-ion or lead-acid batteries that increases the overall equipment costs.

Market Opportunities: Rising demand for fuel-efficient & eco-friendly vehicles

Rising demand for fuel-efficient and eco-friendly vehicles can offer opportunity for global golf cart market growth. With increasing environmental consciousness among consumers and governments pushing for lower emissions, more people are looking for transportation options that use clean energy and produce less pollution. Golf carts that run on batteries charged using solar power or other renewable sources can offer market growth opportunities.

Golf cart manufacturers can tap into this demand by developing more electric and solar-powered cart fleet options for golf courses, hotels, and other commercial customers. Many resorts and country clubs are already replacing their gas-powered carts with electric fleets to offer a better experience to environmentally-conscious customers and comply with emission regulations.