NEWS
NEWS
The global market briefing about golf cart and forcast from 2021 to 2027
24-09-2022
The global golf cart market size was over USD 1.5 billion in 2020 and is estimated to grow at over 4.5% CAGR between 2021 and 2027. Growing investments in construction & development of golf courses in the world is driving the development of market.
The decreasing costs of electric golf carts are also promoting the golf car market demand. The technological developments in battery management are supporting golf car manufacturers to develop vehicles with maximum range,performance and lower charging cycles.
By product types, the golf carts are classified into push-pull golf cart,gasoline golf cart,electric golf cart and solar powered golf cart.The electric golf cart occupies 80.34% share in 2020 for the golf cart market.Electric golf cart market is anticipated to keep a CAGR of around 3.5% up to the year 2027. The growing consumer awareness about the rising pollution levels will faciliate the market growth.
Based on applications, the market are mainly categorized into golf course and commercial service.tTe golf course industry accounted for the largest market share by 2027.
The North America golf cart market was estimated to be up to USD 1 billion in 2020, with over 120,000 units sold. The steadily rising numbers of golf participants and golf courses in north America results in the high market demand.In North America and Europe, the market is far more developed. Therefore, it is projected that future innovation and technology developments in the European and American golf cart industries, such as electrification, linked mobility, and autonomy, are making market expansion.
The golf cart market is projected to continue rapidly electrifying as manufacturers focusing on developing new generation electric models with enhanced travel range and battery capacity.
The global major Market Players in the golf cart market are
Yamaha Golf-Car Company,
Club Car,
E-Z-GO,
Cario,
Garia,
Guangdong Marshell Electric Vehicle Co., Ltd.,
Polaris Industries, Inc.,
Hawk Carts,
G H Varley Pty Limited,
STAR EV CORPORATION,
KT Pan Company Limited,
Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.,
HDK Electric Vehicle.
The decreasing costs of electric golf carts are also promoting the golf car market demand. The technological developments in battery management are supporting golf car manufacturers to develop vehicles with maximum range,performance and lower charging cycles.
By product types, the golf carts are classified into push-pull golf cart,gasoline golf cart,electric golf cart and solar powered golf cart.The electric golf cart occupies 80.34% share in 2020 for the golf cart market.Electric golf cart market is anticipated to keep a CAGR of around 3.5% up to the year 2027. The growing consumer awareness about the rising pollution levels will faciliate the market growth.
Based on applications, the market are mainly categorized into golf course and commercial service.tTe golf course industry accounted for the largest market share by 2027.
The North America golf cart market was estimated to be up to USD 1 billion in 2020, with over 120,000 units sold. The steadily rising numbers of golf participants and golf courses in north America results in the high market demand.In North America and Europe, the market is far more developed. Therefore, it is projected that future innovation and technology developments in the European and American golf cart industries, such as electrification, linked mobility, and autonomy, are making market expansion.
The golf cart market is projected to continue rapidly electrifying as manufacturers focusing on developing new generation electric models with enhanced travel range and battery capacity.
The global major Market Players in the golf cart market are
Yamaha Golf-Car Company,
Club Car,
E-Z-GO,
Cario,
Garia,
Guangdong Marshell Electric Vehicle Co., Ltd.,
Polaris Industries, Inc.,
Hawk Carts,
G H Varley Pty Limited,
STAR EV CORPORATION,
KT Pan Company Limited,
Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd.,
HDK Electric Vehicle.
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