Oct 3, 2019
According to the latest report Golf Cart Market Research Report: Information by Product Type, Fuel Type, Exterior Construction Material and by Regions with Forecast To 2023, Golf Cart Manufacturing Industry To Expand at a Notable CAGR Of 6.9% during the forecast period of 2019 to 2023.

Pune, India - October 3, 2019 /MarketersMedia/ —
According to the latest report Golf Cart Market Research Report are preferred for carrying passengers or less heavy items for shorter distances in shopping malls, airports, entertainment places, and hotels. The primary use of golf cart is in country clubs and golf courses by golfers to carry their equipment, kits, and clubs, encouraging smoother and more enjoyable rounds. Furthermore, golf carts are widely used in commercial places, such as exhibition centers, railway stations, theme parties, zoos, wide life sanctuaries, office- factory visits, and multi-residential complexes. The global golf cart market is expected to witness 6.9% CAGR during the period, 2019–2023.
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Key Players
The prominent players in the global golf cart market are Yamaha Golf-Car Company (US), STAR EV (US), Garia A/S (Denmark), Bradshaw Electric Vehicles (UK), E-Z-GO (US), Marshell Green Power (China), Spoleman OÜ (Estonia), Polaris Industries, Inc. (US), Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD. (China), Speedways Electric (India), and Autopower (India).
Golf Cart Market Drivers and Restraints:
Golf carts are preferred for carrying passengers or less heavy items for shorter distances in shopping malls, airports, entertainment places, and hotels. The primary use of golf cart is in country clubs and golf courses by golfers to carry their equipment, kits, and clubs, encouraging smoother and more enjoyable rounds. Furthermore, golf carts are widely used in commercial places, such as exhibition centers, railway stations, theme parties, zoos, wide life sanctuaries, office- factory visits, and multi-residential complexes.
Municipalities in North America, Europe, and in developed countries of Asia-Pacific have been making efforts to reduce air pollution, registered from small engines, such as those found in dirt bikes, lawnmowers, and gas-powered golf carts. The electric powered version of the golf cart, which is eco-friendly is is more preferred due to its safety, and the environmental benefits. This is because some of the municipal authorities focus on emission reduction from electric and hybrid vehicles as their engines contribute to smog and greenhouse gas emissions and higher costs than their electric equivalents.
Golf Cart Market Segmental Analysis
The global golf cart market has been segmented on the basis of propulsion type, application, and seating capacity.
On the basis of propulsion type, the global golf cart market has been segmented into gasoline golf cart and electric golf cart.
On the basis of seating capacity, the global golf cart market has been segmented into medium (6-10-seater), small (2-4-seater), and large (More than 10).
On the basis of application, the global golf cart market has been segmented into hotels & resorts, airports, multi-residential complexes, railways, golf courses, and others.
By Propulsion Type
Electric
Gasoline
By Seating Capacity
Small (2-4 Seater)
Medium (6-10 Seater)
Large (More than 10 Seater)
By Application
Hotels & Resorts
Airports
Golf Courses
Railways
Multi-residential Complexes
Others
Golf Cart Market Regional Outlook
Regionally, the global golf cart market has been analysed across three key regions and the Rest of the World (RoW). The three key regions are; North America, Europe, and Asia-Pacific. Regional analysis of the golf cart market helps in comprehending the regional progress of the market.
MRFR forecasts that North America is likely to hold a considerable share of the global gold cart market over the evaluation period. The North American gold cart market is expected to surge due to the growing demand for mobility solutions over shorter distances. Moreover, the government’s initiatives for launching eco-friendly or electric golf carts is observed to surge the demand for golf carts across golf courses, hotels and resorts, and others, which is anticipated to raise spur the growth of the regional market over the review period.
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Source: MarketersMedia
Release ID: 88925049
Feb 11, 2025
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