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Golf Cart Market Report and Forecast 2024-2032

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    Report

  • 174 Pages
  • May 2024
  • Region: Global
  • Expert Market Research
  • ID: 5973860
According to the report, the global golf cart market size reached a value of USD 1.44 billion in 2023. Aided by the increasing popularity of golf as a recreational sport and the expanding application of golf carts in various sectors, the market is projected to further grow at a CAGR of 4.5% between 2024 and 2032 to reach a value of USD 2.16 billion by 2032.

Golf carts, also known as golf buggies or golf cars, are small electric or gas-powered vehicles designed primarily for transporting golfers and their equipment around golf courses. However, their use has expanded beyond golf courses to include resorts, airports, residential communities, and commercial establishments. It is a compact electric vehicle specifically designed for transporting golfers and their equipment on the golf course. Typically, it operates at an average speed of 25 miles per hour.

The rising popularity of golf tourism, driven by the construction of new golf courses and resorts worldwide, is a major driver of the golf cart market growth. Golf enthusiasts are increasingly traveling to different destinations to experience diverse golfing landscapes, boosting the demand for golf carts.

Golf carts are gaining traction in various sectors due to their versatility, compact size, and eco-friendly nature. Electric golf carts, in particular, are preferred for their quiet operation and low environmental impact.

Moreover, technological advancements in golf carts, such as GPS tracking, touchscreen displays, and improved battery life, are enhancing the user experience, consequently driving up the golf cart market share. The global shift towards sustainable transportation solutions is propelling the demand for electric golf carts, which are considered a greener alternative to traditional vehicles.

Furthermore, golf carts are becoming popular in gated and retirement communities for short-distance travel, contributing to the golf cart market expansion.

Gasoline-powered golf carts dominate a considerable portion of the market due to their impressive speed and range, allowing them to cover long distances quickly. Moreover, they provide the convenience of easy refuelling at gas stations, which is much faster than the hours it takes to charge electric golf carts. Furthermore, these carts are equipped with robust engines that have a long lifespan, contributing to the continuous growth of this segment.

North America dominates the global golf cart market, attributed to the region's strong golfing culture and the presence of numerous golf courses. The Asia-Pacific region is also witnessing significant growth, driven by the increasing popularity of golf in countries such as China, Japan, and South Korea, and the development of golf tourism, leading to the golf cart market development.

Market Segmentation

The market can be divided based on the type, application, and region.

Market Breakup by Type

  • Electric Golf Cart
  • Gasoline Golf Cart
  • Solar Golf Cart

Market Breakup by Application

  • Golf
  • Personal/Residential
  • Commercial

Market Breakup by Region

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

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global golf cart market. Some of the major players explored in the report are as follows:
  • Yamaha Motor Co., Ltd.
  • Garia ApS
  • Textron Inc.
  • Marshell Electric Vehicle Co., Ltd.
  • Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
  • HDK Electric Vehicle
  • Dongguan Excar Electric Vehicle Co., Ltd.
  • Club Car, LLC
  • STAR EV Corporation
  • Speedways Electric
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Golf Cart Market Analysis
8.1 Key Industry Highlights
8.2 Global Golf Cart Historical Market (2018-2023)
8.3 Global Golf Cart Market Forecast (2024-2032)
8.4 Global Golf Cart Market by Type
8.4.1 Electric Golf Cart
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Gasoline Golf Cart
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Solar Golf Cart
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Golf Cart Market by Application
8.5.1 Golf
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Personal/Residential
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Commercial
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Golf Cart Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Golf Cart Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Golf Cart Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Golf Cart Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Golf Cart Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Golf Cart Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Yamaha Motor Co., Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Garia ApS
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Textron Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Marshell Electric Vehicle Co., Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 HDK Electric Vehicle
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Dongguan Excar Electric Vehicle Co., Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Club Car, LLC
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 STAR EV Corporation
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Speedways Electric
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Golf Cart Market: Key Industry Highlights, 2018 and 2032
2. Global Golf Cart Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Golf Cart Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Golf Cart Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Golf Cart Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Golf Cart Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Golf Cart Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Golf Cart Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Golf Cart Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Golf Cart Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Golf Cart Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Golf Cart Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Golf Cart Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Golf Cart Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Golf Cart Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Golf Cart Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Golf Cart Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Golf Cart Market Structure

Companies Mentioned

  • Yamaha Motor Co., Ltd.
  • Garia ApS
  • Textron Inc.
  • Marshell Electric Vehicle Co., Ltd.
  • Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.
  • HDK Electric Vehicle
  • Dongguan Excar Electric Vehicle Co., Ltd.
  • Club Car, LLC
  • STAR EV Corporation
  • Speedways Electric

Methodology

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Table Information