Global Golf Cart Market Analysis 2020-2030
Golf cart is a small motorized vehicle which is usually used for transporting golfers and their equipment. These vehicles are also used for other non-golf activities. The global golf cart market is anticipated to grow with a CAGR of 5.65% over the forecast period, i.e., 2021 – 2030. Factors such as the growing popularity of golf as a sport, and the increasing number of golf facilities around the globe are expected to drive the market growth. Besides this, factors such as the increasing adoption of electric vehicles worldwide for different end-use purposes, and the increasing urbanization, which is driving the need for the adoption of golf carts, especially to serve the aged population or those having disability, are also anticipated to contribute to the market growth. The global golf cart market is estimated to garner a revenue of around USD 2660 Million by the end of 2030, up from a revenue of close to USD 1550 Million in the year 2020.
The global golf cart market is segmented by numerous segments, which include segmentation by product type, battery capacity, application, passenger capacity, and by region. By product type, the market is segmented into electric, gasoline, and solar golf cart, out of which, the electric golf cart segment is anticipated to hold the largest market revenue of about USD 1600 Million by the end of 2030. Moreover, in the year 2020, the segment garnered the largest revenue of over USD 930 Million.
On the basis of geographical analysis, the global golf cart market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. By the end of 2030, the market in North America is anticipated to cross the largest revenue of USD 1400 Million, up from a revenue of around USD 860 Million in the year 2020.
Some of the prominent industry leaders in the global golf cart market that are included in our report are Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd., JH Global Services, Inc., Cruise Car, Inc., Garia A/S, Hitachi, Ltd., Textron Inc., Yamaha Motor Co., Ltd., AGT Electric Cars, Columbia Vehicle Group Inc., Dongguan Excar Electric Vehicle Co., Ltd., and others.