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.

To know more about this report, request a free sample copy

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.

Read our latest blog on the Golf Cart Market

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: