Global Golf Cart Market is valued at USD 1795.1 Million in 2020 and is expected to reach USD 2381.4 Million by 2027 with a CAGR of 4.12% over the forecast period.
Global Golf Cart Market: Global Size, Trends, Competitive, Historical & Forecast Analysis– Increasing popularity of golf sport and the rising number of innovations in this sector are the significant factors driving the growth of the Global Golf Cart Market.
A golf cart is a small vehicle designed to carry golfers and their golf clubs around a golf course or on desert trails with less effort than walking. The golf carts are very light in weight and compact in size, they are generally around 4 feet wide, 8 feet long, and 6 feet high in dimensions. The weight is around 900 to 1000 pounds. These are used to convey a small number of passengers short distances at speeds less than 15mph. Golf Carts are used in golf clubs, airports, college campuses, sports events, hospitals, and housing projects. Also, these are used in various industries for international transportation. At airports, golf carts are used to move cargo and people with ease from terminal parking to restricted areas around the tarmac. Also, these are used in resorts and hotels for moving guests and customers. Also, on many college campuses, golf carts are used for transportation. In these types of carts, features like radio, windshield, rear seat, etc. are available. The first electric golf cart was developed in 1932 by JK Wadley.
The COVID-19 has witnessed a declining impact on the growth of the golf cart market owing to lockdown conditions, the golf clubs, college campuses, sports clubs were closed and less crowded on airports. So, the demand for carts from these sources is decreased and it affected the market negatively.
The regions covered in the Golf Cart market report are North America, Europe, Asia-Pacific, and the Rest of the World. Based on the country level, the market of golf carts is subdivided into the U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some major key players for global golf cart in banking market report covers are Yamaha Golf-Car Company, Hitachi Chemical Co. Ltd., Ingersoll Rand, Textron lnc., Xiamen Dalle Electric Car, Autopower, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Marshell green Power, Speedways Electric, Columbia Vehicle Group lnc. and others.
Infosys Built Self-Driving Golf Carts to be Future Ready
On May 29th, 2018; India’s 2nd largest software provider planned to built Golf Carts more of them for its campuses at home and the U.S. an app to book a ride. The Bengluru-based firm is not competing with the likes of Wymo or Google lnc. to build autonomous vehicles, according to Sudip Singh, senior Vice Precedent, global business unit and head engineering services. These carts are built to show clients that Infosys is capable of helping them keep pace with disrupting technology, he also said as we hitched a ride on prototype, snaking past employees and lush-green lawns at company’s Mysuru campus. Sudip Singh said that we are a service provider, not a product company. But the behind developing these Golf Carts is build use cases for clients and support makers of self driving vehicles in the future. This Golf Cart is one of the cheapest carts.
The golf cart market is divided into product type, application and region, and country level. Based on product type, market is segmented into electric, gasoline, and solar. Also based on application, the market is divided into golf clubs, airports, college campuses, sports events, hospitals, housing projects, and others.
The increasing popularity of golf sport is one of the major factors driving the growth of the global golf carts market. For instance; according to R & A Golf around the World 2019, Golf sport is available around the globe, as of year-end 2018; there were 38,864 golf courses in 209 countries. That is an 84% diffusion rate of the sport globally. Still, the sport is geographically concentrated with 78% of the world's supply of courses located in the top 10 golfing countries: U.S., Japan, Canada, England, Australia, Germany, France, Republic of Korea, Sweden, and Scotland. Golf carts are mostly used in this golf sport to convey the people from one place to another.
In addition, increasing innovations in this field are also fostering the growth of the golf cart market. For instance; in June 2019, Yamaha Golf car Company announced the launch of five new edgy color lineups, namely Arctic Drift, Mica, Atomic Flame, and Graphite for its range of golf cars. There are many such innovations are coming into the market. Furthermore, rapid urbanization and industrialization, automotive industry development, and stringent government regulations towards vehicle emission are also supplementing the growth of the golf cart market. However, lack of stability, high investments, and maintenance may hamper market growth. In spite of that, the increasing demand for electric vehicles may offer an opportunity for the further growth of the global golf cart market.
Geographically, North America is expected to dominate the global golf cart market over the forecast period due to the increasing demand for electric vehicles and the popularity of golf sport in this region. For instance; according to R & A Golf around the World 2019, North and South America is home to 53% of golf course supply, and the U.S. alone claims 43% of the world’s total golf course supply.
The Asia Pacific is expected to show the fastest growth in this market owing to the automotive industry development and rapid industrialization in this region. For instance, according to The Motor Industry of Japan 2019, in 2018 the total motor vehicle production in Japan was 9.73 million units. Also, in 2018 motor vehicle exports total 16.7 trillion Yen which was higher than the previous year by 4.1%. Similarly in other countries like China and India, automotive industry growth is increasing.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 1795.1 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 2381.4 Million|
|Tables, Charts & Figures:||175|
|Golf Cart Companies||Yamaha Golf-Car Company, Hitachi Chemical Co. Ltd., Ingersoll Rand, Textron lnc., Xiamen Dalle Electric Car, Autopower, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Marshell green Power, Speedways Electric, Columbia Vehicle Group lnc. and others|
|Segments Covered||By Golf Cart Type, By Operation Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Middle East and Africa