The global golf cart market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use sectors. These insights are included in the report as a major market contributor.
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, along with forecasts for growth at the global, regional and country-level from 2021-2026. 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
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- 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.
Key Questions Answered in This Report:
- How has the global golf cart market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What has been the impact of the COVID-19 on the global golf-cart market?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the seating capacity?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global golf cart market and who are the key players?
- What is the degree of competition in the industry?