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Golf Cart Market Size

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

Golf Cart Market Size

Golf Cart Market size surpassed USD 1.5 billion in 2022 and is anticipated to grow at a CAGR of 5% from 2023 to 2032 attributed to the increasing construction of golf courses globally.

 

 

Golf Cart Market Overview

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Golf has gained increased popularity, especially among people aged 40 and above. Also, young adults are engaging in golfing activities to spend their leisure time. North American and European countries are witnessing the construction & development of modern golf courses & clubs to meet the growing consumer demand.
 

Government regulations mandate that gas-powered golf carts be frequently serviced and maintained to limit the emission of such harmful gases, adding to the maintenance & service costs. The overall operating costs of gas-powered golf carts have increased due to recurring servicing costs, restricting their golf cart market growth by 2032.

 

 

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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