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Golf Cart Market Size, Analysis, Top Players, Target Audience and Forecast to 2031

 Increasing urbanization and inclination towards the environment friendly options are key factors driving market of golf cart. As per a Future Market Insights (FMI) analysis, the global golf cart market is estimated to be valued at ~US$ 2.59 Bn in 2021, expanding at a CAGR of ~4.3% during the forecast period from 2021 to 2031. While the COVID-19 outbreak hampered sales to an extent, the market is likely to recover 2021 onwards.

With the rising focus on renewable energy, the demand for solar-powered and electric vehicles is increasing. The trend also is visible in the golf cart market. According to FMI, electric golf carts are expected to account for over 87% of sales in 2021. Driven by changing preferences of consumers, some of the leading manufacturers are focusing on developing technologically advanced intelligent braking system for golf carts. This is indicating towards the potential launch of driverless golf carts.

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The research report analyzes demand trends within the global golf cart market. The global market estimation and growth projection are based on factors such as rapid urbanization, automotive industry development, COVID-19 crisis impact, increasing per capita income, and growth in the international and national tourism industries. As per FMI’s research scope, the global golf cart market has been studied and segmented on the basis of product type, operation, application, ownership and region. The global golf cart market report also details global golf cart cost analysis, and market presence of leading manufacturers.

Key Takeaways of Global Golf Cart Market Study

  • After registering negative growth in 2020, golf cart sales is expected to pick up 2021 onwards
  • The U.S. market will prove excessively lucrative, accounting for dominant 78.3% sales in 2021
  • After deceleration in sales, the U.K. market will exhibit recovery, registering 2.6% Y-o-Y growth in 2021
  • Other than U.K., Germany and France will emerge as key markets within Europe
  • China will continue dominating East Asia market, followed by Japan and South Korea

 “Driven by increasing focus on reducing emissions and the rising demand for energy-efficient mobility solutions, golf cart manufacturers are expected to focusing on the production of solar powered and electric golf carts. With this trend unlikely to slow down in the near future, the market will continue gaining impetus through the forecast period,” says FMI analyst.

Global golf cart market is expected to be an opportunistic market in the forecast period due to growing golf sports infrastructure and its applications in various sectors. As this low speed and compact vehicles have numerous applications, starting from their primary application in golf courses to their applications in sports events, airports, resorts, hospitals, warehouses, railway stations, universities, and housing projects, their demand is expected to rise considerably in the coming years.

For instance, Club Car, LLC Club car, a leading company in golf cart market, has introduced its lithium ion-powered golf cart technology in 2019. Such efforts by leading players are expected to bode well for the market.

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Scope of the Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for value and Units for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, Poland China, Japan, South Korea, India, ANZ, GCC Countries, Turkey, South Africa.

Key Segments Covered

By Product Type, By Operation Type, By Application, By Ownership

Key Companies Profiled

  • Club Car, LLC
  • Yamaha Golf-Car Company.
  • E-Z-GO
  • EverGreen Electrical Vehicles
  • Columbia ParCar Corp
  • Hitachi Chemical Co., Ltd.).
  • Xiamen Dalle Electric Car Co., Ltd. Company
  • Maini Material Movement Pvt. Ltd
  • Garia Luxury Golf Car.
  • Cruise Car, Inc.
  • Toyota Motor Corporation
  • Polaris Inc
  • Solorider
  • GDRIVE Golf Cart
  • Carrieall Car Pvt Ltd
  • Volmac Engineering Pvt Ltd

Report Coverage

Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

Customization & Pricing

Available upon Request

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About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Mr. Debashish Roy
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/golf-cart-market
Press Release Source: https://www.futuremarketinsights.com/press-release/golf-cart-market

 

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