Golf Cart Market
Description
A golf cart is a small, motorized vehicle designed primarily for transporting golfers and their equipment across a golf course. The golf cart market has witnessed steady growth, driven by an increase in demand across golf courses, resorts, residential communities, industrial facilities, and commercial establishments. While traditionally used for golf course mobility, the market has expanded significantly into sectors such as hospitality, urban transport, and industrial applications.
Rise in population, coupled with increase in purchasing power, stringent government rules & regulations toward vehicle emission, and increase in number of golf courses & country clubs boosts the growth of the market across the globe. However, high initial maintenance & purchasing cost, low power & speed, and short overall drive range hamper the market growth to a certain extent. Rise in carbon emissions from fuel combustion has become a major concern for governments and environmentalists, driving demand for electric and solar powered golf carts. This shift is expected to further boost market growth globally. Moreover, increase in fuel prices at international level, rise in pollution, and traffic congestion, especially in urban areas, have increased acceptance of golf carts to be used as recreational vehicles across the globe. In addition, the higher running and maintenance cost of gasoline golf carts has led to a shift in preference for electric golf carts for shorter transits, which, in turn, is expected to boost market growth during the forecast period.
Private golf clubs and resorts increasingly transition to electric golf carts to align with sustainability goals and mitigate the rise in operational costs associated with fuel-powered vehicles. For instance, in November 2024, London Golf Club in Kent acquired 50 Club Car Tempo golf buggies from Bradshaw Electric Vehicles to enhance guest and member experiences. This purchase marked the 25-year partnership between the two companies. Bradshaw Electric Vehicles, a key supplier of Club Car vehicles across the UK, has built a strong reputation among prestigious golf courses. Earlier this year, the company surpassed 5,000 Club Car vehicle sales, earning the 5000 Club accolade, making it only the third dealership in Europe to achieve this milestone. This trend highlights the surge in preference for electric mobility solutions in the golf industry.
Popularity of outdoor recreational activities and adventure tourism boosts demand for golf carts in the recreation and leisure segment. For instance, in July 2024, EA Carts, founded by entrepreneur Theodore “TJ” Johnson, entered the recreational golf cart market with a focus on providing affordable, stylish, and fun golf carts. The company has rapidly gained traction, securing two key partnerships that highlight its fast growth and innovative approach in the industry. This trend reflects the expanding use of golf carts beyond traditional golf courses, catering to leisure, tourism, and outdoor adventure markets.
The golf cart market is segmented into product type, application, sales channel, and region. On the basis of product type, the market is divided into electric golf carts, gasoline golf carts, and solar golf carts. As per application, the market is categorized into golf course, residential communities, resorts & hospitality, commercial & industrial, personal, recreation & leisure, and others. On the basis of sales channel, the market is bifurcated into online and offline. Region-wise, the market is analyzed across North America, Europe, AsiaPacific, and LAMEA.
Key players covered in the report include ELLWEE, Textron Inc., Marshell Green Power, Maini Corporate Pvt Ltd., HDK Electric Vehicles, Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd., Evolution Electric Vehicles, ICON Electric Vehicles, Waev Inc., VIVID EV, Dealer Spike (Advanced EV), Nordic Group of Companies, Ltd., Club Car, Yamaha Motor Co., Ltd., Denago EV, Kandi America, and Star EV Corporation, USA. These companies are actively enhancing their market positioning through strategies such as product launches, contract acquisitions, geographic expansions, partnership agreements, and other initiatives. These efforts aim to drive innovation, improve competitiveness, and cater to the growing demand for advanced golf cart.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the golf cart market analysis from 2023 to 2033 to identify the prevailing golf cart market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the golf cart market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global golf cart market trends, key players, market segments, application areas, and market growth strategies.The research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
Rise in population, coupled with increase in purchasing power, stringent government rules & regulations toward vehicle emission, and increase in number of golf courses & country clubs boosts the growth of the market across the globe. However, high initial maintenance & purchasing cost, low power & speed, and short overall drive range hamper the market growth to a certain extent. Rise in carbon emissions from fuel combustion has become a major concern for governments and environmentalists, driving demand for electric and solar powered golf carts. This shift is expected to further boost market growth globally. Moreover, increase in fuel prices at international level, rise in pollution, and traffic congestion, especially in urban areas, have increased acceptance of golf carts to be used as recreational vehicles across the globe. In addition, the higher running and maintenance cost of gasoline golf carts has led to a shift in preference for electric golf carts for shorter transits, which, in turn, is expected to boost market growth during the forecast period.
Private golf clubs and resorts increasingly transition to electric golf carts to align with sustainability goals and mitigate the rise in operational costs associated with fuel-powered vehicles. For instance, in November 2024, London Golf Club in Kent acquired 50 Club Car Tempo golf buggies from Bradshaw Electric Vehicles to enhance guest and member experiences. This purchase marked the 25-year partnership between the two companies. Bradshaw Electric Vehicles, a key supplier of Club Car vehicles across the UK, has built a strong reputation among prestigious golf courses. Earlier this year, the company surpassed 5,000 Club Car vehicle sales, earning the 5000 Club accolade, making it only the third dealership in Europe to achieve this milestone. This trend highlights the surge in preference for electric mobility solutions in the golf industry.
Popularity of outdoor recreational activities and adventure tourism boosts demand for golf carts in the recreation and leisure segment. For instance, in July 2024, EA Carts, founded by entrepreneur Theodore “TJ” Johnson, entered the recreational golf cart market with a focus on providing affordable, stylish, and fun golf carts. The company has rapidly gained traction, securing two key partnerships that highlight its fast growth and innovative approach in the industry. This trend reflects the expanding use of golf carts beyond traditional golf courses, catering to leisure, tourism, and outdoor adventure markets.
The golf cart market is segmented into product type, application, sales channel, and region. On the basis of product type, the market is divided into electric golf carts, gasoline golf carts, and solar golf carts. As per application, the market is categorized into golf course, residential communities, resorts & hospitality, commercial & industrial, personal, recreation & leisure, and others. On the basis of sales channel, the market is bifurcated into online and offline. Region-wise, the market is analyzed across North America, Europe, AsiaPacific, and LAMEA.
Key players covered in the report include ELLWEE, Textron Inc., Marshell Green Power, Maini Corporate Pvt Ltd., HDK Electric Vehicles, Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd., Evolution Electric Vehicles, ICON Electric Vehicles, Waev Inc., VIVID EV, Dealer Spike (Advanced EV), Nordic Group of Companies, Ltd., Club Car, Yamaha Motor Co., Ltd., Denago EV, Kandi America, and Star EV Corporation, USA. These companies are actively enhancing their market positioning through strategies such as product launches, contract acquisitions, geographic expansions, partnership agreements, and other initiatives. These efforts aim to drive innovation, improve competitiveness, and cater to the growing demand for advanced golf cart.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the golf cart market analysis from 2023 to 2033 to identify the prevailing golf cart market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the golf cart market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global golf cart market trends, key players, market segments, application areas, and market growth strategies.The research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
Table of Contents
541 Pages
- CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
- CHAPTER 2: EXECUTIVE SUMMARY
- 2.1. CXO perspective
- CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter’s five forces analysis
- 3.3.1. Low to high bargaining power of suppliers
- 3.3.2. Moderate to high threat of new entrants
- 3.3.3. Low to high threat of substitutes
- 3.3.4. Low to high intensity of rivalry
- 3.3.5. Moderate to high bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Increase in the number of golf courses and country clubs
- 3.4.1.2. Rise in demand for sustainable & electric mobility
- 3.4.1.3. Surge in adoption of golf cart in golf courses, resorts and public areas
- 3.4.2. Restraints
- 3.4.2.1. High initial cost and battery replacement expenses
- 3.4.2.2. Infrastructure challenges in developing regions
- 3.4.3. Opportunities
- 3.4.3.1. Growth in inclination toward solar powered golf carts
- 3.4.3.2. Expanding applications beyond golf courses
- CHAPTER 4: GOLF CART MARKET, BY PRODUCT TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Electric Golf Cart
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Gasoline Golf Cart
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Solar Golf Cart
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- CHAPTER 5: GOLF CART MARKET, BY APPLICATION
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Golf Course
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Residential Communities
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Resorts and Hospitality
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
- 5.5. Commercial and Industrial
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country
- 5.6. Personal
- 5.6.1. Key market trends, growth factors and opportunities
- 5.6.2. Market size and forecast, by region
- 5.6.3. Market share analysis by country
- 5.7. Recreation and Leisure
- 5.7.1. Key market trends, growth factors and opportunities
- 5.7.2. Market size and forecast, by region
- 5.7.3. Market share analysis by country
- 5.8. Others
- 5.8.1. Key market trends, growth factors and opportunities
- 5.8.2. Market size and forecast, by region
- 5.8.3. Market share analysis by country
- CHAPTER 6: GOLF CART MARKET, BY SALES CHANNEL
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Online
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Offline
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- CHAPTER 7: GOLF CART MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Product type
- 7.2.3. Market size and forecast, by Application
- 7.2.4. Market size and forecast, by Sales Channel
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Market size and forecast, by Product type
- 7.2.5.1.2. Market size and forecast, by Application
- 7.2.5.1.3. Market size and forecast, by Sales Channel
- 7.2.5.2. Canada
- 7.2.5.2.1. Market size and forecast, by Product type
- 7.2.5.2.2. Market size and forecast, by Application
- 7.2.5.2.3. Market size and forecast, by Sales Channel
- 7.2.5.3. Mexico
- 7.2.5.3.1. Market size and forecast, by Product type
- 7.2.5.3.2. Market size and forecast, by Application
- 7.2.5.3.3. Market size and forecast, by Sales Channel
- 7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Product type
- 7.3.3. Market size and forecast, by Application
- 7.3.4. Market size and forecast, by Sales Channel
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. UK
- 7.3.5.1.1. Market size and forecast, by Product type
- 7.3.5.1.2. Market size and forecast, by Application
- 7.3.5.1.3. Market size and forecast, by Sales Channel
- 7.3.5.2. Germany
- 7.3.5.2.1. Market size and forecast, by Product type
- 7.3.5.2.2. Market size and forecast, by Application
- 7.3.5.2.3. Market size and forecast, by Sales Channel
- 7.3.5.3. France
- 7.3.5.3.1. Market size and forecast, by Product type
- 7.3.5.3.2. Market size and forecast, by Application
- 7.3.5.3.3. Market size and forecast, by Sales Channel
- 7.3.5.4. Russia
- 7.3.5.4.1. Market size and forecast, by Product type
- 7.3.5.4.2. Market size and forecast, by Application
- 7.3.5.4.3. Market size and forecast, by Sales Channel
- 7.3.5.5. Italy
- 7.3.5.5.1. Market size and forecast, by Product type
- 7.3.5.5.2. Market size and forecast, by Application
- 7.3.5.5.3. Market size and forecast, by Sales Channel
- 7.3.5.6. Spain
- 7.3.5.6.1. Market size and forecast, by Product type
- 7.3.5.6.2. Market size and forecast, by Application
- 7.3.5.6.3. Market size and forecast, by Sales Channel
- 7.3.5.7. Rest of Europe
- 7.3.5.7.1. Market size and forecast, by Product type
- 7.3.5.7.2. Market size and forecast, by Application
- 7.3.5.7.3. Market size and forecast, by Sales Channel
- 7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Product type
- 7.4.3. Market size and forecast, by Application
- 7.4.4. Market size and forecast, by Sales Channel
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Market size and forecast, by Product type
- 7.4.5.1.2. Market size and forecast, by Application
- 7.4.5.1.3. Market size and forecast, by Sales Channel
- 7.4.5.2. India
- 7.4.5.2.1. Market size and forecast, by Product type
- 7.4.5.2.2. Market size and forecast, by Application
- 7.4.5.2.3. Market size and forecast, by Sales Channel
- 7.4.5.3. Japan
- 7.4.5.3.1. Market size and forecast, by Product type
- 7.4.5.3.2. Market size and forecast, by Application
- 7.4.5.3.3. Market size and forecast, by Sales Channel
- 7.4.5.4. Australia
- 7.4.5.4.1. Market size and forecast, by Product type
- 7.4.5.4.2. Market size and forecast, by Application
- 7.4.5.4.3. Market size and forecast, by Sales Channel
- 7.4.5.5. South Korea
- 7.4.5.5.1. Market size and forecast, by Product type
- 7.4.5.5.2. Market size and forecast, by Application
- 7.4.5.5.3. Market size and forecast, by Sales Channel
- 7.4.5.6. Thailand
- 7.4.5.6.1. Market size and forecast, by Product type
- 7.4.5.6.2. Market size and forecast, by Application
- 7.4.5.6.3. Market size and forecast, by Sales Channel
- 7.4.5.7. Malaysia
- 7.4.5.7.1. Market size and forecast, by Product type
- 7.4.5.7.2. Market size and forecast, by Application
- 7.4.5.7.3. Market size and forecast, by Sales Channel
- 7.4.5.8. Indonesia
- 7.4.5.8.1. Market size and forecast, by Product type
- 7.4.5.8.2. Market size and forecast, by Application
- 7.4.5.8.3. Market size and forecast, by Sales Channel
- 7.4.5.9. Rest of Asia-Pacific
- 7.4.5.9.1. Market size and forecast, by Product type
- 7.4.5.9.2. Market size and forecast, by Application
- 7.4.5.9.3. Market size and forecast, by Sales Channel
- 7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Product type
- 7.5.3. Market size and forecast, by Application
- 7.5.4. Market size and forecast, by Sales Channel
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Brazil
- 7.5.5.1.1. Market size and forecast, by Product type
- 7.5.5.1.2. Market size and forecast, by Application
- 7.5.5.1.3. Market size and forecast, by Sales Channel
- 7.5.5.2. South Africa
- 7.5.5.2.1. Market size and forecast, by Product type
- 7.5.5.2.2. Market size and forecast, by Application
- 7.5.5.2.3. Market size and forecast, by Sales Channel
- 7.5.5.3. Saudi Arabia
- 7.5.5.3.1. Market size and forecast, by Product type
- 7.5.5.3.2. Market size and forecast, by Application
- 7.5.5.3.3. Market size and forecast, by Sales Channel
- 7.5.5.4. UAE
- 7.5.5.4.1. Market size and forecast, by Product type
- 7.5.5.4.2. Market size and forecast, by Application
- 7.5.5.4.3. Market size and forecast, by Sales Channel
- 7.5.5.5. Argentina
- 7.5.5.5.1. Market size and forecast, by Product type
- 7.5.5.5.2. Market size and forecast, by Application
- 7.5.5.5.3. Market size and forecast, by Sales Channel
- 7.5.5.6. Rest of LAMEA
- 7.5.5.6.1. Market size and forecast, by Product type
- 7.5.5.6.2. Market size and forecast, by Application
- 7.5.5.6.3. Market size and forecast, by Sales Channel
- CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product mapping of top 10 player
- 8.4. Competitive dashboard
- 8.5. Competitive heatmap
- 8.6. Top player positioning, 2023
- CHAPTER 9: COMPANY PROFILES
- 9.1. CLUB CAR
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Key strategic moves and developments
- 9.2. Nordic Group of Companies, Ltd.
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.3. Yamaha Motor Co., Ltd.
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
- 9.3.7. Key strategic moves and developments
- 9.4. HDK Electric Vehicles
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.5. ELLWEE
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.6. Textron Inc.
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.6.7. Key strategic moves and developments
- 9.7. Marshell Green Power
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.8. Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.9. Maini Corporate Pvt Ltd.
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.10. Evolution Electric Vehicles
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.11. Denago EV
- 9.11.1. Company overview
- 9.11.2. Key executives
- 9.11.3. Company snapshot
- 9.11.4. Operating business segments
- 9.11.5. Product portfolio
- 9.12. ICON Electric Vehicles
- 9.12.1. Company overview
- 9.12.2. Key executives
- 9.12.3. Company snapshot
- 9.12.4. Operating business segments
- 9.12.5. Product portfolio
- 9.12.6. Key strategic moves and developments
- 9.13. Kandi America
- 9.13.1. Company overview
- 9.13.2. Key executives
- 9.13.3. Company snapshot
- 9.13.4. Operating business segments
- 9.13.5. Product portfolio
- 9.13.6. Business performance
- 9.13.7. Key strategic moves and developments
- 9.14. Star EV Corporation, USA
- 9.14.1. Company overview
- 9.14.2. Key executives
- 9.14.3. Company snapshot
- 9.14.4. Operating business segments
- 9.14.5. Product portfolio
- 9.15. Waev Inc.
- 9.15.1. Company overview
- 9.15.2. Key executives
- 9.15.3. Company snapshot
- 9.15.4. Operating business segments
- 9.15.5. Product portfolio
- 9.16. Dealer Spike (Advanced EV)
- 9.16.1. Company overview
- 9.16.2. Key executives
- 9.16.3. Company snapshot
- 9.16.4. Operating business segments
- 9.16.5. Product portfolio
- 9.17. VIVID EV
- 9.17.1. Company overview
- 9.17.2. Key executives
- 9.17.3. Company snapshot
- 9.17.4. Operating business segments
- 9.17.5. Product portfolio
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