Insights Into The Golf Cart Market’s Growth Opportunities Through 2023-2032 – Includes Golf Cart Market Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Increased use of golf carts in tourism is likely to encourage innovation in golf cart manufacturing, propelling the market during the forecast period.
The global golf cart market is expected to grow from $1.54 billion in 2022 to $1.64 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The global golf carts market size is expected to reach $2.04 billion in 2027 at a CAGR of 5.6%.
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Global Golf Cart Market Segments Include:
- By Product Type: Push-Pull Golf Cart, Gasoline Golf Cart, Electric Golf Cart, Solar Powered Golf Cart
- By Operation: Manual, Powered
- By Ownership: Rented, Fully Owned
- By Application: Golf Courses, Personal Use, Industry Use, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global golf cart market in 2021.
Major Market Players in the golf cart market include Yamaha Golf-Car Company, Textron Inc., Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Club Car, Cruise Car Inc., Garia Inc., Columbia Vehicle Group Inc., Textron Specialized Vehicles Inc.
Technological developments are a major trend that is gaining traction in the golf cart market. To maintain their market position, major golf cart manufacturers are inventing revolutionary technologies. For example, Neuron Energy Pvt Ltd, an India-based developer of Electric Vehicle solutions, unveiled the Adler series of electric golf carts in November 2022. The company’s latest venture will leverage its new product to address the demand for personal travel, freight, leisure and medical assistance. The lithium-ion batteries from Neuron, which include a GPRS tracker and remote assistance, will power the golf carts, where the GPRS vehicle tracking system works independently of a GPS system, which collects location data and transmits it to the internet.
The Golf Cart Global Market Report 2023 provides a golf cart market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The golf cart market forecast analyzes golf cart market size, golf cart market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Golf carts are electric or gas-powered vehicles that are used to transport golfers and their equipment around the course while they are playing. It’s used to get two golfers and their clubs around a golf course faster than walking.
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