Global Golf Cart Market

Global Golf Cart Market by Types (Push-pull Golf Carts, Electric Golf Carts, Gasoline Golf Carts, and Solar Golf Carts), Applications (Golf Course, Personal/Residential Services, and Commercial Services), Passenger Capacities (2-Seater, 4-Seater, 6-Seater, and 8-Seater), Operations (Manual and Powered), Ownerships (Rented and Fully Owned), and Regions (Asia Pacific, North America, Europe, Latin America, Middle East & Africa) Forecasts, 2021 to 2028

  • Report ID: AL-3259
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 198
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The global golf cart market is expected to reach USD 1.9 Billion by 2028, expanding at a high CAGR of 3.6% during the forecast period, between 2021 and 2028. Golf carts are small motorized vehicles used to carry golfers and their equipment. These carts were originally designed for 2 passengers; however, rise in the number of people playing golf has encouraged golf carts manufacturers to make these carts to carry 8 passengers at a time. These carts are used for travelling around the golf course or on desert trail. Gasoline golf carts were utilized in the past; however, electric carts and solar golf carts are being currently used.


Global Golf Cart Market summary

Market Trends, Drivers, Restraints and Opportunities:

  • Rise in urbanization and increasing per capita income are major factors responsible fueling this market.
  • Surge in the international and national tourism industry is anticipated to propel the demand for golf carts.
  • Growing demand for tech savvy and luxury products is increasing the preference for golf carts, thus driving the market.
  • COVID-19 has impeded the market, as people had to stay at home and were following social distancing norms.
  • High price of golf carts and lack of safety features are constraining the market.
  • Technological advancements and launch of these carts with superior features and stylish designs are creating opportunities in the market.

Scope of the report:

The report on the golf cart market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Global Golf Cart Market - Industry Analysis, Size, Share, Growth, Trends And Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Types (Push-pull Golf Carts, Electric Golf Carts, Gasoline Golf Carts, and Solar Golf Carts), Applications (Golf Course, Personal/Residential Services, and Commercial Services), Passenger Capacities (2-Seater, 4-Seater, 6-Seater, and 8-Seater), Operations (Manual and Powered), Ownerships (Rented and Fully Owned)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Yamaha Golf-Car Company; Club Car LLC; Textron Inc; HDK Electric Vehicles; GuangDong Lvtong New Energy Electric Vehicle Technology Co.; LTD;

Golf Cart Market Segment Insights:

Electric segment to gain traction

Based on type, the golf cart market is segregated to push-pull, gasoline, electric, and solar. The electric segment dominates the global market due to their better efficiency and feasibility than gasoline golf carts. Additionally, electric golf carts make less noise and do not emit carbon, make them sustainable for the environment. Moreover, electric golf carts accelerate quickly and are available in stylish and tech savvy models that attract golfers. The demand for solar golf carts is anticipated to increase, as it reduces battery charging costs; however, inconvenience caused in the absence of sunlight limits the segment growth.


Global Golf Cart Market types

Golf course segment to expand

On the basis of applications, the market is fragmented into golf course, personal/residential services, and commercial services. The golf course segment is expected to expand during the forecast period due to the presence of a large number of golf courses worldwide. Additionally, coaching of and investments in this sport have increased, as golf is gaining popularity in the past few years. Moreover, professional golfers prefer to play golf on a traditional golf course despite its high costs.


Global Golf Cart Market applications

6-seater segment to dominate the market

In terms of passenger capacity, the global market is segmented into 2-seater,4-seater,6-seater and 8-seaters. 6-seater golf carts are preferred by consumer, as they can accommodate a large group of participants without reducing the speed and quality of the ride. On an average, a game of golf is played by 1 to 4 players, a 6-seater golf cart is more suitable for this as compared to others, as golfers can comfortably travel and carry their golfing equipment. These carts offer a speed range up to 18 mph. Additionally, this model is available with attractive features such as easy grip steering wheel and stylish dash board, thus increasing their adoption at golf courses.

Powered golf carts segment hold significant market share

Based on operation type, the market is bifurcated into manual and powered. Powered golf carts usually on electrically charged batteries of different voltages ranging from 4V to 12V. Solar energy generated golf carts are also available in the market. They provide 45 to 90 minutes of full-power run time. Demand for powered golf carts is growing owing to the increase in disposable income and technological advancements. Furthermore, powered golf carts are speedy and easy to drive on hills and trails.

Rise in demand for rented golf carts fuels the segment

On the basis of ownership, the golf cart market is split into rented and fully-owned. The demand for rented golf carts is rising due to their high use on golf courses. Most players do not play golf on a regular basis; therefore, they prefer not invest in them, thus driving the renting segment. Moreover, the fee charged by the golf course entails maintenance, cleaning, and storage charges, thus making it economical for the user and golf course owners. Golf carts can be effortlessly rented for golf tournaments, vacations, and special events such as weddings.

North America market to grow

In terms of regions, the global golf cart market is split into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. North America is anticipated to dominate the global market, due to the rapid rise in the number of golf courses in this region. Surge in the number of people playing the sport and rise in income are fueling the market in this region.


Global Golf Cart Market region

Segments

Segments Covered in the Report:
By Types:

  • Push-pull Golf Cart
  • Electric Golf Cart
  • Gasoline Golf Cart
  • Solar Golf Cart

By Application:

  • Golf Course
  • Personal/Residential Services
  • Commercial Services

By Passenger Capacities:

  • 2-Seater
  • 4-Seater
  • 6-Seater
  • 8-Seater

By Operations:

  • Manual
  • Powered

By Ownerships:

  • Rented Golf Carts
  • Fully Owned Golf Carts

By Regions:

  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

By Key Players:

  • Yamaha Golf-Car Company
  • Club Car LLC
  • Textron Inc
  • HDK Electric Vehicles
  • GuangDong Lvtong New Energy Electric Vehicle Technology Co.; LTD

 

Competitive Landscape

Key players in the golf cart market includes Yamaha Golf-Car Company; Club Car LLC; Textron Inc; HDK Electric Vehicles; GuangDong Lvtong New Energy Electric Vehicle Technology Co.; LTD; and others. These players are engaged in numerous organization development strategies including business collaborations, agreements, mergers & acquisitions, production capacity expansion, product launches, and partnerships to strengthen their geographical presence and expand their customer base globally.

Global Golf Cart Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Golf Cart Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Golf Cart Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Golf Cart Market - Supply Chain
  4.5. Global Golf Cart Market Forecast
     4.5.1. Golf Cart Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Golf Cart Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Golf Cart Market Absolute $ Opportunity
5. Global Golf Cart Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Golf Cart Market Size and Volume Forecast by Types
     5.3.1. Push-pull Golf Cart
     5.3.2. Electric Golf Cart
     5.3.3. Gasoline Golf Cart
     5.3.4. Solar Golf Cart
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Golf Cart Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Golf Cart Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Golf Cart Demand Share Forecast, 2019-2026
7. North America Golf Cart Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Golf Cart Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Golf Cart Market Size and Volume Forecast by Types
     7.4.1. Push-pull Golf Cart
     7.4.2. Electric Golf Cart
     7.4.3. Gasoline Golf Cart
     7.4.4. Solar Golf Cart
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Golf Cart Demand Share Forecast, 2019-2026
8. Latin America Golf Cart Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Golf Cart Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Golf Cart Market Size and Volume Forecast by Types
     8.4.1. Push-pull Golf Cart
     8.4.2. Electric Golf Cart
     8.4.3. Gasoline Golf Cart
     8.4.4. Solar Golf Cart
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Golf Cart Demand Share Forecast, 2019-2026
9. Europe Golf Cart Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Golf Cart Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Golf Cart Market Size and Volume Forecast by Types
     9.4.1. Push-pull Golf Cart
     9.4.2. Electric Golf Cart
     9.4.3. Gasoline Golf Cart
     9.4.4. Solar Golf Cart
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Golf Cart Demand Share Forecast, 2019-2026
10. Asia Pacific Golf Cart Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Golf Cart Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Golf Cart Market Size and Volume Forecast by Types
     10.4.1. Push-pull Golf Cart
     10.4.2. Electric Golf Cart
     10.4.3. Gasoline Golf Cart
     10.4.4. Solar Golf Cart
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Golf Cart Demand Share Forecast, 2019-2026
11. Middle East & Africa Golf Cart Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Golf Cart Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Golf Cart Market Size and Volume Forecast by Types
     11.4.1. Push-pull Golf Cart
     11.4.2. Electric Golf Cart
     11.4.3. Gasoline Golf Cart
     11.4.4. Solar Golf Cart
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Golf Cart Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Golf Cart Market: Market Share Analysis
  12.2. Golf Cart Distributors and Customers
  12.3. Golf Cart Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Yamaha Golf-Car Company
     12.4.2. Club Car LLC
     12.4.3. Textron Inc
     12.4.4. HDK Electric Vehicles
     12.4.5. GuangDong Lvtong New Energy Electric Vehicle Technology Co.; LTD

Segments Covered in the Report:
By Types:

  • Push-pull Golf Cart
  • Electric Golf Cart
  • Gasoline Golf Cart
  • Solar Golf Cart

By Application:

  • Golf Course
  • Personal/Residential Services
  • Commercial Services

By Passenger Capacities:

  • 2-Seater
  • 4-Seater
  • 6-Seater
  • 8-Seater

By Operations:

  • Manual
  • Powered

By Ownerships:

  • Rented Golf Carts
  • Fully Owned Golf Carts

By Regions:

  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

By Key Players:

  • Yamaha Golf-Car Company
  • Club Car LLC
  • Textron Inc
  • HDK Electric Vehicles
  • GuangDong Lvtong New Energy Electric Vehicle Technology Co.; LTD

 

Key players in the golf cart market includes Yamaha Golf-Car Company; Club Car LLC; Textron Inc; HDK Electric Vehicles; GuangDong Lvtong New Energy Electric Vehicle Technology Co.; LTD; and others. These players are engaged in numerous organization development strategies including business collaborations, agreements, mergers & acquisitions, production capacity expansion, product launches, and partnerships to strengthen their geographical presence and expand their customer base globally.

Global Golf Cart Market keyplayers

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