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NORTH AMERICA GOLF CART MARKET FORECAST 2022-2030

The North America golf cart market is anticipated to register with a CAGR of 5.74% across the forecasted years of 2022 to 2030, reaching a revenue share of $1848.42 million by 2030.

NORTH AMERICA GOLF CART MARKET FORECAST 2022-2030

North America 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 North America golf cart market is anticipated to register with a CAGR of 5.74% across the forecasted years of 2022 to 2030, reaching a revenue share of $1848.42 million by 2030.

The market growth of the region is facilitated by the increasing number of golf courses, the presence of numerous resorts, parks, hotels, and recreational areas necessitating golf carts for ferrying, and the increasing participation in golf sporting events. However, the North America golf cart market is likely to be restrained by the declining number of millennials’ interest and involvement in golf.

North America Golf Cart Market

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The North America golf cart market growth evaluation includes the assessment of the United States and Canada. The United States has the highest number of golf courses globally, primarily on account of golf’s significant popularity as a sport. As per the National Golf Foundation, in 2021, 1 in every 3 Americans over the age of 6 have played golf, including on-course or off-course, followed golf on television or online, read about the game, or listened to a golf-related podcast. Moreover, 41% of the country’s citizens supported their states permitting the reopening of golf courses during the novel coronavirus pandemic.

On the other hand, the United States had more than 16,000 golf courses in the year 2021, equating to over 40% of the total golf courses across the globe. In addition, while 441 million rounds of golf were played in 2019, around 24 million people played on-course golf in the same year. The country also has one of the highest numbers of national parks, luxury hotels, and theme parks worldwide, constituting a substantial end-user market for the purchase of golf courses. As a result, the tremendous popularity of golf, as well as notable investment in golf infrastructure, private ownership, and logistics, is a key factor propelling the North America golf cart market growth.

The North America golf cart market is segmented into seating capacity, end-user, and vehicle type. The seating capacity segment includes one-to-four-seater and above-five-seater One-seater golf carts are gaining immense traction owing to their affordability. Moreover, they are also environmentally beneficial in terms of their operations and procurement. One-seater golf carts are witnessing significant demand among long-time golfers, primarily due to the myriad advantages they offer. For instance, their functionality is similar to regular golf carts, and they are simpler to use, as well.

Conversely, five to six-seater golf carts are widely used for ferrying guests from the parking space to the main event or from hotels to event locations during exhibitions, community activities, weddings, as well as music festivals. Golf carts with six or more seats are generally priced between $10,000 and $15,000. Several new competitors, including Garia, offer luxury carts that are likely to set new market trends, predominantly in terms of comfort and style.

Some of the leading companies operating in the North America golf cart market include Club Car, E-Z-Go, Yamaha Golf-Car Company, etc.

Club Car, headquartered in the United States, is mainly engaged in the manufacture of utility, golf, and personal transportation vehicles. It also offers commercial utility accessories, personal golf cart accessories, as well as golf fleet accessories. In this regard, the Carryall 502 is a cargo-based golf cart vehicle developed by the company.

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
Countries Analyzed The United States and Canada
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

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    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
    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: NORTH AMERICA GOLF CART MARKET, BY SEATING CAPACITY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

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

    TABLE 5: NORTH AMERICA GOLF CART MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 6: NORTH AMERICA GOLF CART MARKET, BY END-USER, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 7: NORTH AMERICA GOLF CART MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 8: NORTH AMERICA GOLF CART MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 9: NORTH AMERICA GOLF CART MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 10: NORTH AMERICA GOLF CART MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 11: LEADING PLAYERS OPERATING IN NORTH AMERICA GOLF CART MARKET

    TABLE 12: LIST OF MERGERS & ACQUISITIONS

    TABLE 13: LIST OF PRODUCT LAUNCHES

    TABLE 14: LIST OF PARTNERSHIPS

    TABLE 15: 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: NORTH AMERICA GOLF CART MARKET, GROWTH POTENTIAL, BY SEATING CAPACITY, IN 2021

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

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

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

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

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

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

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

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

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

    FIGURE 15: NORTH AMERICA 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)       

    1. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    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

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