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Golf Cart Market Analysis

  • Report ID: GMI3285
  • Published Date: Apr 2023
  • Report Format: PDF

Golf Cart Market Analysis

The electric golf cart industry held the highest share in 2022 and is expected to exhibit more than 6% growth rate through 2032.The segment expansion is credited to the rising consumer awareness about the increasing pollution. The quiet operations of electric golf carts cause less disturbance to golfers and local wildlife. Also, high prices of gasoline and declining industry prices of electric golf carts are encouraging consumers to buy these golf carts.

 

Global Golf Cart Market Share By Fuel

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The golf course application dominated golf cart market share of 60.02% and recorded USD 1 billion in revenue. The increasing adoption of golf carts to carry both players and equipment to reduce the efforts of walking around the course is boosting industry growth. Golf courses & clubs worldwide are improving their golf cart fleets to enhance the experience of members. The growing consumer participation in golf activities owing to the proliferation of golf courses globally along with increasing personal disposable income is driving business expansion.
 

Global Golf Cart Market Revenue Share, By Application

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The Europe golf cart industry crossed USD 200 million in 2022 and is projected to witness 7% gains between 2023 and 2032. The regional development is backed by the growing deployment of golf carts at airports, hotels, and resorts for transporting passengers & staff from one location to another. Also, the rising number of golf courses & facilities in Europe will increase the demand for golf carts.
 

Global Golf Cart Market, By Region

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The golf cart industry crossed USD 1.5 billion revenue in 2022 and is anticipated to depict over 5% CAGR through 2032, due to the increasing number of residential buildings, hotels, and resorts.

The solar-powered fuel segment is poised to exhibit over 5% gains between 2023 and 2032, considering the zero environmental impacts and high fuel efficiency of these vehicles.

The North American market value worth over USD 1 billion in 2022, owing to the expansion of golf courses and the growing number of participants.

Polaris Industries, Inc., Club Car, G H Varley Pty Limited, STAR EV CORPORATION, Cario, Ltd., E-Z-GO, Hawk Carts, Garia, KT Pan Company Limited, HDK Electric Vehicle, and Yamaha Golf-Car Company are some of the key participants in the market.

Golf Cart Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 13
  • Tables & Figures: 395
  • Countries covered: 22
  • Pages: 250
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