Golf Cart Market

Rapid electrification in the golf car industry to boost the market growth

Similar to the transforming automotive & transport sector, the golf car enterprise is also developing toward long-lasting, efficient, and eco-friendly solutions. Electrification in such vehicles is mainly driven by the strict emission norms implemented by the government bodies to achieve carbon neutrality and the growing demand for electric golf carts among the people owing to the several benefits, such as enhanced comfort and technologically advanced features.

Further, most of the available carts for sale are electrically powered. The manufacturer focuses on developing and launching new electric models with improved travel range and battery. capacities will continue continuous electrification in the golf car industry during the forecast period. For instance, in June 2021, E-Z-GO introduced E-Z-GO Liberty, its first golf car with four forward-facing seats in a compact cart.

Additionally, rapid urbanization, rising per capita income, and growth in the international and national tourism industries are expected to boost demand for golf carts. As golf carts are low-powered, easy-to-drive vehicles with a wide range of functions, urban development in savvy private activities are expected to boost golf cart sales. As the industries are witnessing healthy growth, the golf cart market is also anticipated to register a positive growth rate during the forecast period. Therefore, a medical condition related to cervical spondylosis has recently enhanced the golf cart market CAGR across the globe.

However, the growing popularity of golf carts as a means of internal transportation has increased the adoption of various events such as expos, symposiums, tradeshows, exhibitions, and weddings. However, the need for golf carts in such events is limited to a couple of days or weeks. Thus, most end users prefer rental services in such situations. Event management firms are increasingly opting for golf cart rental to meet their internal transportation needs, which positively impacts the growth of the golf cart market revenue.

The Global Golf Cart Market Industry is poised for substantial growth, with projections indicating a market value of 2.86 USD Billion by 2035. This growth is underpinned by a compound annual growth rate of 6.79% from 2025 to 2035, reflecting the increasing adoption of golf carts across various sectors. Factors such as technological advancements, rising disposable incomes, and the expansion of golf facilities are expected to drive this growth. As the industry evolves, stakeholders are likely to explore new opportunities, ensuring a dynamic and competitive market landscape.

The Global Golf Cart Market Industry benefits from the continuous expansion of golf courses and resorts worldwide. As leisure activities gain popularity, new golf facilities are being developed, particularly in emerging markets. This expansion creates a direct demand for golf carts, as they are essential for transporting players and equipment. The projected growth of the market to 2.86 USD Billion by 2035 indicates a strong correlation between the number of golf facilities and golf cart sales. Furthermore, the integration of golf carts into resort amenities enhances guest experiences, further driving market growth.

The Global Golf Cart Market Industry experiences a notable shift towards electric models, driven by environmental concerns and regulatory pressures. Electric golf carts offer reduced emissions and lower operational costs, appealing to eco-conscious consumers. In 2024, the market is valued at 1.39 USD Billion, reflecting a growing preference for sustainable transportation solutions. As more golf courses and resorts adopt electric carts, the industry is likely to see a surge in demand. This trend aligns with global initiatives aimed at promoting clean energy and reducing carbon footprints, suggesting a robust future for electric golf carts.

The Global Golf Cart Market Industry is significantly impacted by rising disposable income levels and increased consumer spending on leisure activities. As individuals have more financial resources, they are more likely to invest in recreational pursuits such as golf. This trend is particularly evident in developing regions where economic growth is fostering a burgeoning middle class. The correlation between increased disposable income and golf cart purchases indicates a promising outlook for the market. As consumers prioritize leisure and lifestyle enhancements, the demand for golf carts is expected to rise, contributing to overall market growth.

Technological innovations play a crucial role in shaping the Global Golf Cart Market Industry. Manufacturers are increasingly incorporating advanced features such as GPS navigation, enhanced safety systems, and connectivity options into their golf carts. These advancements not only improve user experience but also attract a broader customer base, including younger golfers and tech-savvy consumers. The anticipated compound annual growth rate of 6.79% from 2025 to 2035 suggests that the integration of technology will significantly influence market dynamics. As consumers seek modern and efficient solutions, the demand for technologically advanced golf carts is expected to rise.

The Global Golf Cart Market Industry is positively influenced by the increasing popularity of golf as a recreational activity. Golf is perceived as a social sport that promotes physical fitness and relaxation, attracting diverse demographics. This growing interest leads to higher participation rates, which in turn drives demand for golf carts. As more individuals engage in golf, the need for efficient transportation within golf courses becomes paramount. The industry's growth trajectory suggests that as golf continues to gain traction globally, the demand for golf carts will correspondingly increase, supporting market expansion.

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North America golf cart market accounted for USD 0.53 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. The huge number of golf courses present in the US drives the market. For instance, as per the National Golf Foundation, the total number of golf courses in the United States at the end of 2020 was more than 16,100.

Further, the US golf cart industry held the largest market share, and the Canada golf carts market was the fastest-growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3 Golf Cart Market Share By Region 2021 (%)

Source Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe golf cart market accounts for the second-largest market share an increasing number of elderly villages & resorts are enhancing the market's growth in the region-additionally, the increasing popularity of golf across developed European countries. Further, the Germany golf cart market held the largest market share, and the UK golf cart market was the fastest-growing market in the European region.

The Asia-Pacific golf cart Market is expected to grow at the fastest CAGR from 2024 to 2030. This is due to the growing awareness regarding golf and an increasing number of golfers across emerging countries of the Asia Pacific. An increasing number of golf courses in the Asia Pacific is driving market growth. For instance, As per R&A, in 2020, Japan was the second-largest economy in terms of the number of golf courses. Japan had a total of 3,140 golf courses in 2020.

Additionally, the China golf cart market held the largest market share, and the India golf carts market was the fastest-growing market in the Asia-Pacific region.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the golf cart market grow even more. Market participants are also taking a range of strategic initiatives to grow their footprint globally, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the golf cart industry must offer cost-effective items to expand and survive in an increasingly competitive and growing market environment.

One of the primary business strategies manufacturers adopt in the global golf cart industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. The Golf cart market major player such as Yamaha Golf-Car Company (US), STAR EV (US), Garia A/S (Denmark), and others are working to expand the market demand by investing in research and development activities.

Club Car, LLC manufactures small-wheel, zero-emissions electric vehicles. The Company distributes electric and gasoline golf cars for recreational and off-road utility vehicles for recreational, commercial, and industrial use. Club Car serves customers in the United States. In August 2021, Club Car announced its partnership with ezLocator, the industry leader in daily pin placement management. This new partnership enables golfers to enjoy exact yardages seamlessly through the cloud with the new integration.

Also, Kinetic Green Vehicles is India's leading manufacturer of electric scooters, bikes, e cycles & 3-wheelers, with over lakh happy customers and growing. It is a non-government company, incorporated on 13 June 2011. It's an unlisted public company and is classified as a 'company limited by shares. In October 2021, the electric vehicle manufacturer in India, Kinetic Green Energy & Power Solutions Ltd, teamed up with Lamborghini to produce Italian-designed and India-made golf carts. The project will be carried out focusing on the global market. The company claims the sales of golf carts by 2022.