Global Golf Cart Market 2024-2028
The golf cart market is forecasted to grow by USD 967.31 mn during 2023-2028, accelerating at a CAGR of 5.23% during the forecast period. The report on the golf cart market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing innovations in lightweight materials for golf cart, growing adoption of golf carts for zoo transportation and on city streets, and surge in number of sports tournaments.
Technavio's golf cart market is segmented as below:
By Deployment
- Electric-powered
- Gasoline-powered
By End-user
- Commercial use
- Personal use
By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the rising adoption of solar-powered golf carts as one of the prime reasons driving the golf cart market growth during the next few years. Also, advent of lithium-powered golf carts and increasing technological advancements in manufacturing of golf cart will lead to sizable demand in the market.
The report on the golf cart market covers the following areas:
- Golf cart market sizing
- Golf cart market forecast
- Golf cart market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading golf cart market vendors that include Alphard Golf Inc., Axglo International Inc., Bat-Caddy LLC, Callaway Golf Co., Cargotec Corp., Cart Tek, Clicgear Industrial Design Hong Kong Ltd., Decathlon SA, Dynamic Brands, Golf Tech Golfartikelvertriebs GmbH, Kaddey, Maini Materials Movement Pvt. Ltd., Motocaddy, Nordic Group Ltd., Ram Golf, Stewart Golf, Sun Mountain Sports, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Textron Inc., The Proactive Sports Group, and Yamaha Motor Co. Ltd.. Also, the golf cart market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.