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GLOBAL GOLF CART MARKET FORECAST 2022-2030

The global golf cart market was valued at $1969.68 million in 2021 and is anticipated to capture $3308.55 million by 2030, growing at a CAGR of 5.78% during the forecast period. The base year considered for the studied market is 2021, and the estimated period is between 2022 and 2030. The market study has also analyzed the impact of COVID-19 on the golf cart market qualitatively as well as quantitatively.

GLOBAL GOLF CART MARKET FORECAST 2022-2030

Global Golf Cart Market by Seating Capacity (One-to-four-seater, Above-five-seater) Market by End-user (Golf and Recreation, Commercial Usage, Personal Usage) Market by Vehicle Type (Gas Golf Cart, Electric Golf Cart, Solar Golf Cart) By Geography

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The global golf cart market was valued at $1969.68 million in 2021 and is anticipated to capture $3308.55 million by 2030, growing at a CAGR of 5.78% during the forecast period. The base year considered for the studied market is 2021, and the estimated period is between 2022 and 2030. The market study has also analyzed the impact of COVID-19 on the golf cart market qualitatively as well as quantitatively.

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Golf carts entail low-speed vehicles (LSVs) that primarily utilize an ICE or an electric motor. These carts are used to move golfers and their gear around a golf course. Their top speed is less than 45 kilometers per hour. However, due to country-wise jurisdictions, it is illegal to use golf carts on public roadways since they are off-road vehicles.

While golf carts are mostly utilized for golfing competitions, they can also be used for other purposes. For instance, in addition to golf courses, opulent hotels, and other hospitality establishments, golf carts are also utilized in businesses, warehouses, public events like weddings, concerts, and exhibitions, as well as public locations such as train and airport terminals.

Golf Cart Market

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Key enablers of the global golf cart market growth:

  • Increasing number of golf courses
  • Government regulations regarding vehicular emissions
    • Governments across the world have been increasingly strict about the issues linked to car emissions due to the detrimental impact on the environment.
    • In the United States, Germany, France, and China, government legislation and rules governing vehicle emissions have been implemented. Moreover, automakers are also compelled to deploy cutting-edge technologies to limit the amount of pollution that cars release.
    • Golf carts that run on gasoline produce much lesser emissions than conventional cars, and in this regard, electric golf carts are extremely environmentally friendly. Therefore, the market is primarily driven by golf carts’ low emissions
  • Growth in golf tourism

Key growth restraining factors:

  • High cost of golf memberships and golf carts
    • Due to the tremendous costs associated with maintaining golf courses, players typically cover these expenses as part of their membership plans. For instance, the average annual membership fee for a private country club in the United States is $7,200. The additional expenses also include the cost of golf clubs which starts from $200.
    • Furthermore, various other factors also raise the price of these carts, such as niche design, shipping costs, as well as purchase and repair costs. The high cost of golf carts further makes them unaffordable for working-class individuals, thereby posing a threat to the global golf cart market’s growth.

Global Golf Cart Market | Top Trends

  • Major companies such as Yamaha Golf Car Company and Club Car Textron Inc are switching their models to electric golf carts. Moreover, firms like Star EV corporation as well as HDK electric completely operate as standalone electric golf cart companies.
  • Rental golf carts are becoming popular among large wedding venues. Since golf carts are customizable according to the event, in addition to being economical, the preference for renting golf carts instead of limousines or other expensive vehicles is heightened.
  • Various technologies used in golf carts can assist golfers on the golf course, as well. Advanced control systems with sensors, driver assistance systems, and driverless golf carts are some of the current and upcoming innovations in the market. In this regard, driverless golf carts are the future of autonomous vehicles.

Market Segmentation Analysis – Seating Capacity, End-User, and Vehicle Type –

Market by End-User:                    

  • Golf and Recreation
    • Golf and recreation is anticipated to be the fastest-growing end-user in the market, progressing with a CAGR of 5.84%.
    • Increased user participation in sports activities, as well as governments’ financial assistance towards golf-grass roots development efforts, have resulted in the rapid expansion of golf courses worldwide.
    • Moreover, with the growing popularity of the sport, there has also been increased interest and inquiries for golf carts.
  • Commercial Usage
  • Personal Usage

Market by Vehicle Type: 

  • Gas Golf Cart
  • Electric Golf Cart
    • Electric golf cart is set to be the largest vehicle type in the golf cart market over the forecast period.
    • Electric golf carts run on electricity as a power source. One of the main factors influencing the sales of electric golf carts is the assurance of a clean energy source. Although electric golf carts are more expensive and have fewer models compared to other types, they offer the maneuverability of a gas-powered mower as well as the environmental friendliness of an electric cart.
    • Moreover, they also ignite and accelerate faster while being less harmful to the environment. Electric carts are also cost-effective since recharging batteries is more convenient than refueling the gas. Besides, government environmental regulations have made it mandatory for people to switch to low-emission vehicles, thus further accelerating their demand and adoption.
  • Solar Golf Cart

Market by Seating Capacity:                  

  • One-To-Four-Seater
  • Above-Five-Seater

Geographical Study based on Four Major Regions:

  • North America: The United States and Canada
  • Europe: The United Kingdom, Germany, France, Ireland, Spain, Denmark, the Netherlands, Sweden, and Rest of Europe
  • Asia-Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
    • Asia-Pacific is anticipated to be the fastest-growing region during the forecast period, with a CAGR of 6.04%.
    • The expansion of the golf cart market in the Asia-Pacific is substantially aided by monetary and fiscal policies. Moreover, Asian economies have benefited from the assistance of real estate, tourism, and recreational centers, thereby sustaining stable growth.
    • The market for the hospitality sector, which includes larger resorts, amusement parks, hotels, and various other sites, is driven by the expansion of new buildings within the real estate and tourism industries. This factor, in turn, creates a notable demand for ferrying shorter distances, thus propelling golf cart sales in the region.
  • Rest of World: Latin America, the Middle East & Africa

Major players in the global golf cart market:

  • Yamaha Golf Car Company
  • Club Car
  • E‑Z‑GO
  • STAR Electric Mobility
  • Polaris Industries Inc
  • Garia

Key strategies adopted by some of these companies:

The E-Z-GO Liberty, a new vehicle from Textron Specialized Vehicles Subsidiary E-Z-GO, was unveiled in June 2022. It is the first automobile in its class to include four forward-facing seats and a small, golf-cart-sized footprint. The Liberty also offers a luxury driving experience.

In April 2022, Club Car announced the acquisition of Danish electric vehicle manufacturer Garia from Lars Larsen Group.

Report Synopsis:

Report Scope Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Million)
Segments Analyzed Seating Capacity, End-User, Vehicle Type
Geographies Analyzed North America, Europe, Asia-Pacific, and Rest of World
Companies Analyzed

Club Car, Cruise Car Inc, E-Z-Go (Acquired by Textron Inc), HDK Electric Vehicle, Varley Group, Hawk Carts, Evolution Electric Vehicles, Polaris Industries Inc, Star EV Corporation, Thai Summit Group, Yamaha Golf-Car Company (Yamaha Corporation), Garia, Karrior Electric Vehicles, Tomberlin, Marshell

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • KEY DRIVERS
      • INCREASING NUMBER OF GOLF COURSES
      • GOVERNMENT REGULATIONS REGARDING VEHICULAR EMISSIONS
      • GROWTH IN GOLF TOURISM
    • KEY RESTRAINTS
      • HIGH COST OF GOLF MEMBERSHIPS AND GOLF CARTS
  1. KEY ANALYTICS
    • IMPACT OF COVID-19 ON GOLF CART MARKET
    • KEY MARKET TRENDS
    • PORTER’S FIVE FORCES ANALYSIS
      • BUYERS POWER
      • SUPPLIERS POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • REGULATORY FRAMEWORK
  2. MARKET BY SEATING CAPACITY
    • ONE-TO-FOUR-SEATER
    • ABOVE-FIVE-SEATER
  3. MARKET BY END-USER
    • GOLF AND RECREATION
    • COMMERCIAL USAGE
    • PERSONAL USAGE
  4. MARKET BY VEHICLE TYPE
    • GAS GOLF CART
    • ELECTRIC GOLF CART
    • SOLAR GOLF CART
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • SPAIN
        • IRELAND
        • DENMARK
        • NETHERLANDS
        • SWEDEN
        • REST OF EUROPE
    • ASIA-PACIFIC
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • VIETNAM
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA-PACIFIC
    • REST OF WORLD
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • KEY STRATEGIC DEVELOPMENTS
      • MERGERS & ACQUISITIONS
      • PRODUCT LAUNCHES
      • PARTNERSHIPS
      • DIVESTITURES
    • COMPANY PROFILES
      • CLUB CAR
      • CRUISE CAR INC
      • EVOLUTION ELECTRIC VEHICLES
      • E-Z-GO (ACQUIRED BY TEXTRON INC)
      • GARIA
      • HAWK CARTS
      • HDK ELECTRIC VEHICLE
      • KARRIOR ELECTRIC VEHICLES
      • MARSHELL
      • POLARIS INDUSTRIES INC
      • STAR EV CORPORATION
      • THAI SUMMIT GROUP
      • TOMBERLIN
      • VARLEY GROUP
      • YAMAHA GOLF-CAR COMPANY (YAMAHA CORPORATION)

LIST OF TABLES  

TABLE 1: MARKET SNAPSHOT – GOLF CART

TABLE 2: REGULATORY FRAMEWORK

TABLE 3: GLOBAL GOLF CART MARKET, BY SEATING CAPACITY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 4: GLOBAL GOLF CART MARKET, BY SEATING CAPACITY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 5: GLOBAL ONE-TO-FOUR-SEATER MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 6: GLOBAL ONE-TO-FOUR-SEATER MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 7: GLOBAL ABOVE-FIVE-SEATER MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 8: GLOBAL ABOVE-FIVE-SEATER MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 9: GLOBAL GOLF CART MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 10: GLOBAL GOLF CART MARKET, BY END-USER, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 11: GLOBAL GOLF AND RECREATION MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 12: GLOBAL GOLF AND RECREATION MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 13: GLOBAL COMMERCIAL USAGE MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 14: GLOBAL COMMERCIAL USAGE MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 15: GLOBAL PERSONAL USAGE MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 16: GLOBAL PERSONAL USAGE MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 17: GLOBAL GOLF CART MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 18: GLOBAL GOLF CART MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 19: GLOBAL GAS GOLF CART MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 20: GLOBAL GAS GOLF CART MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 21: GLOBAL ELECTRIC GOLF CART MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 22: GLOBAL ELECTRIC GOLF CART MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 23: GLOBAL SOLAR GOLF CART MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 24: GLOBAL SOLAR GOLF CART MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 25: GLOBAL GOLF CART MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 26: GLOBAL GOLF CART MARKET, BY GEOGRAPHY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 27: NORTH AMERICA GOLF CART MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 28: NORTH AMERICA GOLF CART MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 29: LEADING PLAYERS OPERATING IN NORTH AMERICA GOLF CART MARKET

TABLE 30: EUROPE GOLF CART MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 31: EUROPE GOLF CART MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 32: LEADING PLAYERS OPERATING IN EUROPE GOLF CART MARKET

TABLE 33: ASIA-PACIFIC GOLF CART MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 34: ASIA-PACIFIC GOLF CART MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 35: LEADING PLAYERS OPERATING IN ASIA-PACIFIC GOLF CART MARKET

TABLE 36: REST OF WORLD GOLF CART MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 37: REST OF WORLD GOLF CART MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 38: LEADING PLAYERS OPERATING IN REST OF WORLD GOLF CART MARKET

TABLE 39: LIST OF MERGERS & ACQUISITIONS

TABLE 40: LIST OF PRODUCT LAUNCHES

TABLE 41: LIST OF PARTNERSHIPS

TABLE 42: LIST OF DIVESTITURES

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL GOLF CART MARKET, GROWTH POTENTIAL, BY SEATING CAPACITY, IN 2021

FIGURE 6: GLOBAL GOLF CART MARKET, BY ONE-TO-FOUR-SEATER, 2022-2030 (IN $ MILLION)

FIGURE 7: GLOBAL GOLF CART MARKET, BY ABOVE-FIVE-SEATER, 2022-2030 (IN $ MILLION)

FIGURE 8: GLOBAL GOLF CART MARKET, GROWTH POTENTIAL, BY END-USER, IN 2021

FIGURE 9: GLOBAL GOLF CART MARKET, BY GOLF AND RECREATION, 2022-2030 (IN $ MILLION)

FIGURE 10: GLOBAL GOLF CART MARKET, BY COMMERCIAL USAGE, 2022-2030 (IN $ MILLION)

FIGURE 11: GLOBAL GOLF CART MARKET, BY PERSONAL USAGE, 2022-2030 (IN $ MILLION)

FIGURE 12: GLOBAL GOLF CART MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2021

FIGURE 13: GLOBAL GOLF CART MARKET, BY GAS GOLF CART, 2022-2030 (IN $ MILLION)

FIGURE 14: GLOBAL GOLF CART MARKET, BY ELECTRIC GOLF CART, 2022-2030 (IN $ MILLION)

FIGURE 15: GLOBAL GOLF CART MARKET, BY SOLAR GOLF CART, 2022-2030 (IN $ MILLION)

FIGURE 16: NORTH AMERICA GOLF CART MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 17: UNITED STATES GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 18: CANADA GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 19: EUROPE GOLF CART MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 20: UNITED KINGDOM GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 21: GERMANY GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 22: FRANCE GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 23: SPAIN GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 24: IRELAND GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 25: DENMARK GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 26: NETHERLANDS GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 27: SWEDEN GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 28: REST OF EUROPE GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 29: ASIA-PACIFIC GOLF CART MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 30: CHINA GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 31: JAPAN GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 32: INDIA GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 33: SOUTH KOREA GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 34: INDONESIA GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 35: THAILAND GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 36: VIETNAM GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 37: AUSTRALIA & NEW ZEALAND GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 38: REST OF ASIA-PACIFIC GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 39: REST OF WORLD GOLF CART MARKET, REGIONAL OUTLOOK, 2021 & 2030 (IN %)

FIGURE 40: LATIN AMERICA GOLF CART MARKET, 2022-2030 (IN $ MILLION)

FIGURE 41: MIDDLE EAST & AFRICA GOLF CART MARKET, 2022-2030 (IN $ MILLION)

  1. MARKET BY SEATING CAPACITY
    • ONE-TO-FOUR-SEATER
    • ABOVE-FIVE-SEATER
  2. MARKET BY END-USER
    • GOLF AND RECREATION
    • COMMERCIAL USAGE
    • PERSONAL USAGE
  3. MARKET BY VEHICLE TYPE
    • GAS GOLF CART
    • ELECTRIC GOLF CART
    • SOLAR GOLF CART
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • SPAIN
        • IRELAND
        • DENMARK
        • NETHERLANDS
        • SWEDEN
        • REST OF EUROPE
    • ASIA-PACIFIC
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • VIETNAM
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA-PACIFIC
    • REST OF WORLD
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA

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    Frequently Asked Questions (FAQs):

    Which is the largest revenue-generating end-user in the global golf cart market?

    Golf and recreation is the largest revenue-generating end-user in the global golf cart market.

    Which is the fastest-growing vehicle type in the global golf cart market?

    Solar golf cart is anticipated to be the fastest-growing vehicle type in the global golf cart market.

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    We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.


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