IMARC Group, a leading market research company, has recently released report titled “Golf Cart Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global golf cart market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Golf carts are compact, motorized vehicles designed for easy driving. They are usually available in various sizes and can be powered by fuel, solar energy, or electricity. They are built close to the ground, ensuring a low center of gravity for improved stability, even on uneven surfaces. They typically operate using gasoline engines, solar power, or electric motors, providing flexibility in terms of power sources. They can accommodate varying numbers of passengers, catering to different needs and preferences. They are commonly used for transporting golfers and their equipment on golf courses. They are generally referred to as non-highway or off-road vehicles, as they are not intended for use on public roads. They have an average speed range of around 25 to 50 kmph and are widely used for navigating golf courses, resorts, and other similar environments. They help reduce manual labor, save time, and provide a comfortable experience for passengers. As a result, golf carts find extensive applications in airports, hotels, shopping malls, and other public spaces across the globe where cars are not suitable.
Golf Cart Industry Trends and Drivers:
The global golf cart market is primarily driven by the increasing participation of individuals in recreational activities and the growing popularity of golf as a luxury sport. Moreover, the establishment of membership-only country clubs and golf courses has augmented the product demand. Apart from this, the rising utilization of modified golf carts for promotional and marketing activities, as they can easily accommodate advertisement boards and banners, making them effective tools for promotion across golf courses, airports, and resorts, is positively influencing the market growth. Additionally, the escalating demand for golf cart rental services, especially for affordable transportation within event premises such as exhibitions, tradeshows, expos, and symposiums, has catalyzed market growth. Besides this, the surging need for compact and maneuverable vehicles that require minimal parking space has accelerated the product adoption rate. Furthermore, the introduction of innovative electric and solar-powered golf carts that are eco-friendly alternatives to traditional gasoline-driven carts, leading to zero carbon emissions and noise reduction, is contributing to the market growth. Along with this, numerous technological advancements, such as the launch of GPS-enabled golf carts with upgraded lithium batteries, to offer enhanced user experience and continual improvements in engine efficiency are propelling the market growth. Other factors, including the emergence of short-distance travel, the expansion of the electric mobility sector, the rapid growth of the hospitality industry, elevating urbanization levels, and improving consumer lifestyles, are also anticipated to drive the market further.
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The report has segmented the market into the following categories:
Breakup by Product Type:
- Electric Golf Cart
- Gasoline Golf Cart
- Solar Golf Cart
Breakup by Application:
- Golf Course
- Personal Services
- Commercial Services
Breakup by Seating Capacity:
- Small (2-4 Seater)
- Medium (6-8 Seater)
- Large (Above 8 Seats)
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Club Car (Ingersoll Rand Inc.),
- E-z-go (Textron),Garia Inc,
- JH Global Services Inc.,
- Maini Materials Movement Pvt. Ltd,
- Marshell Green Power,
- Speedways Electric,
- Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.,
- Tomberlin (Columbia Vehicle Group Inc.), etc.
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