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:
Golf Course
Personal Services
Commercial Services
Breakup by Seating Capacity:
Small (2-4 Seater)
Medium (6-8 Seater)
Large (Above 8 Seats)
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
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.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Product Type, Application, Seating Capacity, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
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.)
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
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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