Golf Cart Manufacturing in the US - Market Research Report (2014-2029)

Hole in one: The industry will likely continue seeking domestic growth by developing energy-efficient carts

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Golf cart manufacturers have been enduring high volatility over the past five years. Although the standard golf cart has emerged as a convenient method of transportation for security personnel, retirement communities, families and other businesses and organizations, the primary market for golf carts remains the Golf Courses and Country Clubs industry. While the COVID-19 pandemic sparked consumer interest in golf, health and safety regulations prevented manufacturers from fully capitalizing on evolving consumer tastes. Instead, inexpensive imports filled gaps in demand. Over the past five years, industry revenue has been falling at a CAGR of 5.4% and is expected to reach $1.2 billion in 2023, including a 0.2% contraction in 2023 alone.

Companies in this industry manufacture golf carts. Industry products are used for passenger transport on golf courses and, to a lesser extent, for transportation in other settings, such as in gated and elderly communities.