The global golf cart market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.8 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.
A golf cart, or golf buggy, refers to a low-speed motorized vehicle that is primarily used for the transportation of golfers and equipment within the premises of a golf course. It usually runs on a gasoline engine, solar power or electric motor and is available in a wide variety of sizes and passenger capacities. Golf carts aid in saving labor, time and minimizing the workload on caddies while offering an overall enjoyable experience to the passengers. Apart from golf courses, modified versions of these carts are also used in airports, hotels, shopping malls and other private properties.
Golf Cart Industry Trends:
Rapid urbanization, along with the increasing preference for golf as a luxury sport, is one of the key factors driving the growth of the market. Furthermore, a rising number of golf courses and membership-only country clubs is also providing a boost to the market growth. These clubs use golf carts for various promotional and marketing activities through advertisement boards and banners to attract a large number of customers. The development of advanced electric and solar golf carts is acting as another growth-inducing factor. In comparison to the traditionally used gasoline-based carts, these golf carts are more environment-friendly and have minimal greenhouse gas (GHG) emissions. Apart from this, the advent of golf cart rental services is also creating a positive impact on the market growth. Rented golf carts are widely being used in symposiums, tradeshows, exhibitions and other events for cost-effective internal transportation. Other factors, including the introduction of GPS-enabled golf carts and upgraded lithium batteries, along with improving standards of living of the masses, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global golf cart market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, application and seating capacity.
Breakup by Product Type:
Electric Golf Cart
Gasoline Golf Cart
Solar Golf Cart
Breakup by Application:
Breakup by Seating Capacity:
Small (2-4 Seater)
Medium (6-8 Seater)
Large (Above 8 Seats)
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined with some of the key players being Club Car (Ingersoll Rand Inc.), E-z-go (Textron),Garia Inc, JH Global Services Inc., Maini Materials Movement Pvt. Ltd, Marshell Green Power, Speedways Electric, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Tomberlin (Columbia Vehicle Group Inc.), etc.
Base Year of the Analysis
Product Type, Application, Seating Capacity, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Club Car (Ingersoll Rand Inc.), E-z-go (Textron),Garia Inc,JH Global Services Inc., Maini Materials Movement Pvt. Ltd, Marshell Green Power,Speedways Electric, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., and Tomberlin (Columbia Vehicle Group Inc.)
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Key Questions Answered in This Report
The global golf cart market was valued at US$ 2.0 Billion in 2022.
We expect the global golf cart market to exhibit a CAGR of 6.1% during 2023-2028.
The rising consumer preference towards golf as a luxury sport, along with the increasing demand for golf carts, as they aid in saving labor and time and minimizing the workload on caddies, while offering an enjoyable experience to the passengers, is primarily driving the global golf cart market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for golf carts.
Based on the product type, the global golf cart market has been segregated into electric golf cart, gasoline golf cart, and solar golf cart. Among these, electric golf cart currently exhibits a clear dominance in the market.
Based on the application, the global golf cart market can be bifurcated into golf course, personal services, and commercial services. Currently, golf course holds the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global golf cart market include Club Car (Ingersoll Rand Inc.), E-z-go (Textron), Garia Inc, JH Global Services Inc., Maini Materials Movement Pvt. Ltd, Marshell Green Power, Speedways Electric, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Tomberlin (Columbia Vehicle Group Inc.), etc.
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