Golf Cart Market, By Type (Electric Golf Cart, Gasoline Golf Cart, Solar Golf Cart), By Applications (Golf, Personal/Residential, Commercial), lBy Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Description

Global golf cart market is estimated to be valued at US$ 3.08 Bn in 2024 and is expected to reach US$ 4.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 3.08 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	6.30%	2031 Value Projection:	US$ 4.72 Bn

Figure. Golf Cart Market Share (%), By Region 2024

Golf carts have transformed from simple electric carts to recreational carts that provide enhanced comfort and mobility options. Advancements in battery technology and lightweight yet durable materials have enabled golf cart manufacturers to introduce new models with superior performance. Rising interest in golf and increasing demand for recreational vehicles boosts demand for golf carts worldwide. Government support for infrastructure development of golf courses and clubs can drive the market growth. However, high maintenance and purchase costs of electric golf carts can hamper the market growth.

Market Dynamics:

Global golf cart market growth is driven by rising number of golf courses and golf tourism activities across regions. According to National Golf Foundation, over 15 million rounds of golf were played in the U.S. during 2017. Growing popularity of golf as a recreational sport has encouraged construction of golf courses worldwide, thus, boosting demand for golf carts. Golf cart batteries require periodic replacement, which increases operational expenses. Moreover, regional price fluctuations of raw materials used in manufacturing of carts can hamper the market growth. Introduction of economic rental models and pay-per-use cart services can present lucrative growth opportunities. Incorporation of latest technologies such as GPS tracking and Bluetooth connectivity in premium models is gaining popularity.

Key features of the study:

This report provides in-depth analysis of the global golf cart market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global golf cart market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Cario, Club Car LLC, Columbia ParCar Corp., Cruise Car Inc., E-Z-GO (Textron Inc.), Garia Inc., Guangdong Marshell Electric Vehicle Co., Hawk Carts, HDK Electric Vehicle, KT Pan Company Limited, Polaris Industries, Sayulita Life.com, Suzhou Eagle Electric Vehicle Manufacturing Co., Textron Specialized Vehicles, Yamaha Golf-Car Company.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
Global golf cart market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global golf cart market.

Detailed Segmentation:

By Type
- Electric Golf Cart
- Gasoline Golf Cart
- Solar Golf Cart
By Applications
- Golf
- Personal/Residential
- Commercial
By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- Cario
- Club Car LLC
- Columbia ParCar Corp.
- Cruise Car Inc.
- E-Z-GO (Textron Inc.)
- Garia Inc.
- Guangdong Marshell Electric Vehicle Co.
- Hawk Carts
- HDK Electric Vehicle
- KT Pan Company Limited
- Polaris Industries
- Sayulita Life.com
- Suzhou Eagle Electric Vehicle Manufacturing Co.
- Textron Specialized Vehicles
- Yamaha Golf-Car Company

Product Code: CMI1038

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Type
- Market Snippet, By Applications
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Golf Cart Market, By Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Electric Golf Cart
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Gasoline Golf Cart
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Solar Golf Cart
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Golf Cart Market, By Applications, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Golf
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Personal/Residential
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Commercial
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Golf Cart Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
North America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Applications, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Applications, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.K.
  - Germany
  - France
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Applications, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Applications, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Applications, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - South Africa
  - GCC Countries
  - Rest of the Middle East & Africa

7. Competitive Landscape

Company Profiles
- Cario
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Club Car LLC
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Columbia ParCar Corp.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Cruise Car Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- E-Z-GO (Textron Inc.)
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Garia Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Guangdong Marshell Electric Vehicle Co.
- Hawk Carts
- HDK Electric Vehicle
- KT Pan Company Limited
- Polaris Industries
- Sayulita Life.com
- Suzhou Eagle Electric Vehicle Manufacturing Co.
- Textron Specialized Vehicles
- Yamaha Golf-Car Company

8. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

9. Reference and Research Methodology

References
Research Methodology
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