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UNITED STATES GOLF CART MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

United States Golf Cart Market by Seating Capacity (One-to-Four-seater, Above-Five-seater) Market by Vehicle Type (Gas Golf Cart, Electric Golf Cart, Solar Golf Cart) Market by End-user (Golf and Recreation, Commercial Usage, Personal Usage)


MARKET OVERVIEW

The United States golf cart market is estimated to progress with a CAGR of 5.60% during the forecasting years, capturing a revenue of $xx million by 2032. The base year considered for the studied market is 2023, and the forecasted period is from 2024 to 2032.

The United States boasts the largest number of golf courses globally, reflecting the immense popularity of golf as a sport. According to the National Golf Foundation, 106 million people, or one out of every three Americans above the age of 6, engaged in golf-related activities, such as playing, watching, reading, or listening to golf content. During the COVID-19 pandemic, 41% of Americans supported the reopening of golf courses in their states. As of 2023, there were over 16,000 golf courses in the United States, accounting for more than 40% of the total worldwide. Additionally, over 441 million rounds of golf were played, with 3.2 million people trying golf for the first time.

United States Golf Cart Market

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The United States hosts prominent golf tournaments like the Professional Golfers’ Association of America (PGA), with media covering 900 hours of PGA Tour golf in a given year. The country’s abundance of luxury hotels, national parks, and theme parks creates a substantial end-user market for golf course amenities. Furthermore, with a high concentration of billionaires and high-net-worth individuals, there’s a significant potential market for personal golf cart ownership. Thus, the enduring popularity of golf, coupled with investment in golf infrastructure and private ownership, continues to drive the golf cart market in the United States.

The United States golf cart market is segmented into seating capacity, end-user, and vehicle type. The vehicle type category is further classified into gas golf cart, electric golf cart, and solar golf cart. The ongoing technological advancements in solar energy have led to the development of various types of solar panels, including innovations such as thin-film panels. These advancements, coupled with continuous development efforts, have significantly contributed to the growth of solar energy-powered devices and vehicles, including solar-powered golf carts.

Solar golf carts utilize mounted photovoltaic (PV) or thin-film panels installed on the roof to harness sunlight and convert it into energy, charging the batteries typically found in golf carts, which are usually either 36-volt or 48-volt systems.

One notable collaboration in this domain is between Lamborghini and Kinetic Green Energy, an Indian golf cart manufacturer. Through this partnership, they aim to manufacture solar golf carts tailored for the global market, showcasing the intersection of luxury automotive expertise and sustainable energy solutions.

Leading players companies operating in the United States golf cart market include Club Car, Cruise Car Inc, E-Z-Go (Acquired by Textron Inc), HDK Electric Vehicle, Tomberlin USA, etc.

The Varley Group is a renowned specialist in vehicle production across a wide spectrum of sectors, including Defence and Aerospace, Power Services, Electric Vehicles, Specialized Vehicles, Marine, Rail, and Telescopic Towers. T

The company’s expertise spans various fields, including mobile health solutions, fire appliances, rescue vehicles, rolling stock manufacture and maintenance, law enforcement vehicles, telescopic towers, ship repair and industrial maintenance, custom modifications, military products, and valve services. The company is headquartered in Tomago, Australia.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2024-2032
Base Year2023
Market Historical Years2018-2022
Forecast Units

Revenue ($ Million)

Segments Analyzed
Seating Capacity, End-User, Vehicle Type
Countries AnalyzedThe United States
Companies AnalyzedClub Car, Cruise Car Inc, E-Z-Go (Acquired by Textron Inc), HDK Electric Vehicle, Varley Group, Evolution Electric Vehicles, Star EV Corporation, Thai Summit Group, Yamaha Golf-Car Company, Garia, Karrior Electric Vehicles, Tomberlin USA

TABLE OF CONTENTS

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. COUNTRY SNAPSHOT – UNITED STATES
    3. COUNTRY ANALYSIS – UNITED STATES
    4. SCOPE OF STUDY
    5. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON GOLF CART MARKET
    6. MAJOR MARKET FINDINGS
      1. RISE OF MULTI-PURPOSE FUNCTIONALITY OF GOLF CARTS
      2. GROWING FOCUS ON SAFETY FEATURES
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. EXPANSION OF THE GOLFING INDUSTRY
      2. SHIFT TOWARDS ELECTRIC GOLF CARTS TO REDUCE EMISSIONS
      3. SURGE IN GOLF TOURISM
    2. KEY RESTRAINTS
      1. HIGH COST OF GOLF MEMBERSHIP AND CARTS
      2. LEGAL LIMITATIONS AND REGULATORY CONSTRAINTS REGARDING GOLF CARTS
      3. AVAILABILITY OF ALTERNATE TRANSPORTATION SOLUTIONS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
      1. RISING PREFERENCE FOR ECO-FRIENDLY GOLF CART OPTIONS
      2. INTEGRATION OF SMART TECHNOLOGY IN GOLF CARTS 
      3. INCREASING POPULARITY OF RENTAL AND SHARED MOBILITY SERVICES
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTIONS
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
    4. VALUE CHAIN ANALYSIS
      1. RAW MATERIALS
      2. MANUFACTURERS
      3. DISTRIBUTION
      4. END-USERS
    5. KEY BUYING CRITERIA 
      1. BATTERY LIFE
      2. PERFORMANCE AND SPEED
      3. ERGONOMICS
      4. STORAGE CAPACITY
  5. MARKET BY SEATING CAPACITY
    1. ONE-TO-FOUR-SEATER
    2. ABOVE-FIVE-SEATER
  6. MARKET BY VEHICLE TYPE
    1. GAS GOLF CART
    2. ELECTRIC GOLF CART
    3. SOLAR GOLF CART
  7. MARKET BY END-USER
    1. GOLF AND RECREATION
    2. COMMERCIAL USAGE
    3. PERSONAL USAGE
  8. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS 
    2. COMPANY PROFILES
      1. CLUB CAR
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      2. CRUISE CAR INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      3. E-Z-GO (ACQUIRED BY TEXTRON INC)
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      4. HDK ELECTRIC VEHICLE
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      5. VARLEY GROUP
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      6. EVOLUTION ELECTRIC VEHICLES
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      7. STAR EV CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      8. THAI SUMMIT GROUP
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      9. YAMAHA GOLF-CAR COMPANY
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      10. GARIA
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      11. KARRIOR ELECTRIC VEHICLES
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      12. TOMBERLIN USA
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – GOLF CART

TABLE 2: UNITED STATES GOLF CART MARKET, BY SEATING CAPACITY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: UNITED STATES GOLF CART MARKET, BY SEATING CAPACITY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 4: UNITED STATES GOLF CART MARKET, BY VEHICLE TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: UNITED STATES GOLF CART MARKET, BY VEHICLE TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 6: UNITED STATES GOLF CART MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: UNITED STATES GOLF CART MARKET, BY END-USER, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 8: LIST OF MERGERS & ACQUISITIONS

TABLE 9: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 10: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 11: LIST OF BUSINESS EXPANSIONS

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING 

FIGURE 4: VALUE CHAIN ANALYSIS

FIGURE 5: KEY BUYING CRITERIA

FIGURE 6: UNITED STATES GOLF CART MARKET, GROWTH POTENTIAL, BY SEATING CAPACITY, IN 2023

FIGURE 7: UNITED STATES GOLF CART MARKET, BY ONE-TO-FOUR-SEATER, 2024-2032 (IN $ MILLION)

FIGURE 8: UNITED STATES GOLF CART MARKET, BY ABOVE-FIVE-SEATER, 2024-2032 (IN $ MILLION)

FIGURE 9: UNITED STATES GOLF CART MARKET, GROWTH POTENTIAL, BY VEHICLE TYPE, IN 2023

FIGURE 10: UNITED STATES GOLF CART MARKET, BY GAS GOLF CART, 2024-2032 (IN $ MILLION)

FIGURE 11: UNITED STATES GOLF CART MARKET, BY ELECTRIC GOLF CART, 2024-2032 (IN $ MILLION)

FIGURE 12: UNITED STATES GOLF CART MARKET, BY SOLAR GOLF CART, 2024-2032 (IN $ MILLION)

FIGURE 13: UNITED STATES GOLF CART MARKET, GROWTH POTENTIAL, BY END-USER, IN 2023

FIGURE 14: UNITED STATES GOLF CART MARKET, BY GOLF AND RECREATION, 2024-2032 (IN $ MILLION)

FIGURE 15: UNITED STATES GOLF CART MARKET, BY COMMERCIAL USAGE, 2024-2032 (IN $ MILLION)

FIGURE 16: UNITED STATES GOLF CART MARKET, BY PERSONAL USAGE, 2024-2032 (IN $ MILLION)

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